WHAT THE OTHER PAPERS SAY THIS MORNING January 27, 2010 FINANCIAL TIMES TWITTER WORKS ON TECHNOLOGY TO EVADE CENSORS Twitter, the internet social network, is developing technology it hopes will prevent the Chinese and Iranian governments being able to censor its users. Evan Williams, the chief executive and co-founder of Twitter, which has been credited with helping anti-government protesters in Iran to organise resistance, said [...]
Bond market fears rise January 27, 2010 The threat to the economy from a sell-off in the bond markets has moved to a more dangerous phase after the Bank of England ended its government debt buy-back programme, Robert Stheeman, chief executive of the Debt Management Office, warned yesterday. In an interview with the FT, Stheeman said it created uncertainty, which could lead [...]
E*Trade sees losses narrow January 27, 2010 Online broker E*Trade Financial Corp posted its 10th-straight quarterly loss yesterday, but it was a quarter of the size of the loss in the year-earlier quarter as the company made headway on bad loans. With its exposure to mortgage-market losses declining, E*Trade said it was now positioned for “sustainable, profitable growth.” E*Trade has been careful [...]
UK offers tax breaks to oil and gas firms January 27, 2010 THE government is offering tax breaks worth hundreds of millions of pounds to offshore oil and gas companies willing to drill in deep waters west of Shetland. The move was welcomed by the industry body, Oil and Gas UK. Malcolm Webb, its chief executive, said it could result in early investment of over £2bn and [...]
Morrison’s gets its man with hire of ex-Wal Mart executive January 27, 2010 WM MORRISON has appointed Dalton Philips, a former Wal-Mart executive, as its new chief executive, ending months of speculation over who would succeed Marc Bolland. Philips is chief operating officer of Loblaw, Canada’s largest grocer with 1,000 supermarkets nationwide and a turnover of £18bn. He previously ran the Irish department store group Brown Thomas. The [...]
FSA wants new credit controls January 27, 2010 BRITAIN’S top financial regulator yesterday called for fresh powers to control the availability of credit and ward off future asset price bubbles. “We need a new set of macro-prudential tools – not just interest rates – to address the quantity of credit,” said Lord Turner, chairman of the Financial Services Authority. He will set out [...]
Swedbank: no staff bonuses January 27, 2010 SWEDBANK, the bank most heavily exposed to the troubled Baltic region, has scrapped 2009 bonuses for most of its employees – one of the boldest moves so far to rein in bonuses amid European banks. About Skr214m (£18m) will be paid to employees whose contracts guarantee a bonus, but others will go empty handed. Swedbank [...]
BlackRock up as profits top expectations January 27, 2010 INVESTMENT manager BlackRock yesterday cheered the market with forecast-topping fourth quarter profits, although its acquisition of exchange-traded funds (ETF) business Barclays Global Investors (BGI) took some of the shine off the figures. The world’s biggest asset manager reported net income of $256m (£158m), or $1.62 a share, in the quarter to 31 December, up 392 [...]
Geithner under fire in Congress over AIG bailout January 27, 2010 AMERICAN lawmakers turned up the heat on US Treasury secretary Timothy Geithner over his role in the bailout of insurer AIG, challenging his claim he did not influence a decision to keep quiet AIG payments to big banks. Both Democrats and Republicans questioned whether Geithner, who led the New York Federal Reserve Bank at the [...]
Will the iPad become the latest must-have device? January 27, 2010 APPLE’S product launches are legendary, but the hype that surrounded the unveiling of its iPad yesterday was without precedent. At first glance, the device looks like an iPhone on steroids. Its ambitions are even bigger: it is supposed to revolutionise the way we surf the internet, watch television and movies, and read books and newspapers. [...]
