Monti begs Merkel for aid as leaders press for Tobin tax January 16, 2012 ITALIAN Prime Minister Mario Monti wants Germany to take more action to support Eurozone countries with their debts, in an attempt to push down Italy’s borrowing costs and ease the pressure on his government. French President Nicolas Sarkozy and Spanish Prime Minister Mariano Rajoy joined Monti in criticising Standard & Poor’s, which downgraded all three [...]
Greece creditors hit out at Eurozone demands on debt January 16, 2012 THE PROSPECT of a deal with Greece’s private debtholders grew more remote yesterday as the head of the group representing its creditors accused Eurozone officials of making “unreasonable” demands. Greek and Portuguese debt markets were spooked by the news, although a healthy French debt issue helped other markets hold steady. Charles Dallara, head of the [...]
Irish Life picks new bank boss January 16, 2012 Irish Life & Permanent has hired Jeremy Masding as the new chief executive of its banking business, Permanent TSB. The bailed-out bank, which is splitting its business in late March, said its current chief executive David Guinane will leave the firm when Masding joins in February. Masding spend 23 years at Barclays, after which he [...]
Nama appoints loan sale advisers January 16, 2012 Ireland’s National Asset Management Agency has appointed a panel of advisers from the financial services sector as it ramps up its efforts to sell its property loans. The “bad bank”, set up during Ireland’s banking crisis, holds about £64bn of debt. At least 13 banks, lawyers, accountants and property consultants including CBRE have been appointed [...]
Egypt asks for IMF support January 16, 2012 A delegation from the International Monetary Fund is due to visit Egypt later this month after the country asked the IMF for $3.2bn (£2.09bn) in support. Egypt’s interim cabinet seeks to fill a budget gap pushed wider by almost a year of political and economic turmoil. The previous army-backed government turned down an offer of [...]
E.ON latest to join price war with 6pc cut January 16, 2012 ENERGY company E.ON is the latest provider to reduce its customers’ household bills to reflect lower wholesale prices. E.ON yesterday became the fifth of the big six energy companies to announce price cuts for either gas or electricity in the past few days. E.ON said the cut to electricity would benefit three quarters of its [...]
Olympus panel says auditors not to blame January 16, 2012 ACCOUNTING groups KPMG and Ernst & Young have been cleared of any responsibility for a £704m accounting fraud at Japan’s Olympus, one of the nation’s worst corporate scandals, in a report issued this morning by a panel of lawyers appointed by the company. The panel said five current and former individual auditors were responsible for [...]
Gritty City dig deep and keep title dream alive January 16, 2012 WIGAN 0 vs MAN CITY 1 MANCHESTER CITY moved three points clear at the top of the Premier League last night following a victory over Wigan which provided enough evidence to suggest they possess the stomach for a title fight, according to goalkeeper Joe Hart. When Edin Dzeko glanced home David Silva’s left-wing free-kick in [...]
Black Monday for Brit parade leaves Murray on his own January 16, 2012 THE FIVE-STRONG British contingent in action on day one of the Australian Open may have been unusually large, but there was something crushingly familiar about the players’ resounding and uniform first-round defeats. Teenagers Heather Watson and Laura Robson were blown away by seeds Victoria Azarenka and Jelena Jankovic, British No1 Elena Baltacha fell in straight [...]
Captain Strauss won’t stand for any England complacency January 16, 2012 ENGLAND captain Andrew Strauss has warned his side they must show the desire of champions if they are to beat Pakistan this winter and justify their position as the world’s No1 ranked Test side. Strauss and his team return to Test action early this morning in Dubai, five months after they whitewashed India on home [...]
