Tullett to pay up over data March 22, 2012 INTER-dealer broker Tullett Prebon has been ordered by a New York court to pay arch-rival BGC Partners $800,000 (£505,000) for misusing data, it said yesterday. This is far below the sum claimed by BGC, which said it had suffered “hundreds of millions of dollars” in damages, according to court documents. BGC’s claim for legal costs [...]
Fresh slump for Eurozone on output fall March 22, 2012 ECONOMIC activity in the Eurozone fell again in March, influential survey data showed yesterday, indicating the economy will contract in the first quarter of the year, taking the area into a technical recession. German output growth slowed, while economic activity fell in France and declined sharply for the rest of the currency union combined, according [...]
Ireland back in recession as slowdown hits exports March 22, 2012 THE IRISH economy slumped back into recession at the end of last year, in part because of weak demand from the rest of the Eurozone, official figures showed yesterday. GDP fell 0.2 per cent in the final quarter of 2011, following a 1.1 per cent fall in the third quarter and taking the economy back [...]
Chinese manufacturing tumbles March 22, 2012 Factory activity in China shrank for a fifth month in March, aggravating fears of a slowdown in the world’s second-largest economy. Initial results from Markit and HSBC’s manufacturing purchasing managers’ index (PMI) slowed to 48.1 from 49.6, representing a further fall in the sector as any score under 50 represents contraction. Losses in mainland Chinese [...]
Japan moves towards recovery March 22, 2012 Japan’s first trade surplus in five months and a revival of confidence among manufacturers yesterday added to evidence the economy is growing again as the yen weakens and external demand picks up, reducing the need for further monetary policy easing. Exports to the US rose by 11.9 per cent in the year to February – [...]
Boris pledges new deal for suburban rail March 22, 2012 BORIS Johnson has promised to secure specific improvements to London’s suburban rail services if he is re-elected, in the form of longer trains and enlarged stations. The Budget includes a pledge to consider further investment in the capital’s rail network, prompting Johnson (pictured) to assert that he is the best-placed candidate to win funds from [...]
Ryanair hit by setback in claim over payout March 22, 2012 BUDGET airline Ryanair yesterday lost the latest round in its legal battle to avoid paying for hotels, meals and drinks for passengers disrupted by delayed flights during the Icelandic volcano eruption in 2010. The European Court of Justice (ECJ) published an opinion indicating that airlines were not exempt from regulations requiring them to pay for [...]
TNT Post bids to rival Royal Mail’s service March 22, 2012 TNT POST is further encroaching on Royal Mail territory by launching an end-to-end delivery trial in London as part of a long-term plan to rival the government-owned postal service. Following a successful trial in Liverpool, TNT postal workers will hit the streets of west London from mid-April to test the waters for extending the company’s [...]
FedEx tops forecasts but warns on Europe impact March 22, 2012 A STRONG holiday season and mild winter helped FedEx top Wall Street’s profit forecast, but the world’s second-largest package delivery company warned that it had lowered its expectations for the rest of this year due to Europe’s weak economy. “The fourth quarter is still very good, but what we’re seeing at the moment is we [...]
Olympic Tube strike talks stall March 22, 2012 Talks to avoid a transport strike during the Olympics stalled yesterday, with union reps slamming London Underground for imposing “even more strings” on workers alongside an £850 bonus. Five days of negotiations broke down yesterday morning when the RMT union objected to what it said were unreasonable and “inherently unsafe” demands that staff work more [...]
