Emails reveal Tucker contact with Barclays July 9, 2012 Bank of England deputy governor Paul Tucker (pictured) contacted Barclays ex-chief executive Bob Diamond several times in October 2008, newly released emails show, and on one occasion directly remarked on the high level of the price of a bond. “Struck that your govt gnteed bond was issued at around 140 over gilts,” the subject line [...]
Barnier calls for Libor rigging to be criminalised July 9, 2012 Europe’s top regulatory official intends to propose new rules that would criminalise the manipulation of benchmarks such as Libor, a spokesman for the EU commissioner in charge of financial reform said on Monday. Michel Barnier wants to amend proposed market-abuse legislation that is designed to clamp down on insider trading and other wrongdoing to include [...]
FTSE pegged back by miners July 9, 2012 The FTSE 100 edged down in early trading today as disappointing jobs data out of the US on Friday continued to cast a shadow over global markets. The 80,000 increase in payrolls in June was slightly below market expectations for an increase of about 90,000 and was not enough to reduce the unemployment rate, which [...]
VW sales grow 13pc in June July 9, 2012 Volkswagen’s premium brand Audi continued to narrow the gap versus rival BMW in June, increasing sales by 13.1 per cent to 133,050 vehicles. For the first half, sales rose 12.3 per cent to 733,250 vehicles, powered by a 37.8 per cent gain in its China volumes. These amounted to 193,871 vehicles during the same period. [...]
JJB sales fall July 9, 2012 British sportswear retailer JJB Sports said sales fell significantly short of expectations for the crucial second quarter. The company also said Robert J. Corliss would replace Mike McTighe as chairman, effective 1 September. The European Football Championships in June did not boost sales of its football merchandise as it had expected, JJB Sports said. Like-for-like [...]
Michael Page profit slips July 9, 2012 Recruitment firm Michael Page International said it expected a challenging third quarter as economic uncertainty disrupted British and European markets, after posting a slip in second-quarter profit. The British firm, which places people in accounting, financial and legal jobs across 35 countries, said on Monday second-quarter gross profit was £138m, 6.6 per cent below what [...]
BMW to invest £250m in Mini in UK July 9, 2012 German carmaker BMW is to invest £250m by the end of 2015 expanding capacity at British manufacturing plants where it makes its Mini car. The world’s largest luxury carmaker said on Monday the funds would support its international growth strategy for the Mini, which will be expanded to include up to 10 different versions in [...]
BRANSON: UK IS AT RISK OF JOINING THE THIRD WORLD July 8, 2012 BRITAIN will fall behind the rest of the world unless a “bold, brave” stance on airline growth is adopted by the government, Virgin founder Sir Richard Branson warned yesterday. Speaking at the launch of new Virgin Atlantic routes to Cancun and Moscow, Branson hit out at leaders who stand in the way of expansion at [...]
Labour: Changing banks should be as easy as switching phones July 8, 2012 TOP BANKS’ grip on the market would be broken if consumers could change banks as easily as they change mobile phone networks, Labour leader Ed Miliband will say today. He will also call for the big five high street banks to sell off up to 1,000 branches, allowing two smaller institutions to join the big [...]
TEARFUL MURRAY LOSES FINAL BUT WINS HEARTS July 8, 2012 AN EMOTIONAL Andy Murray insisted he is “getting closer” to winning a Grand Slam tournament after losing the Wimbledon men’s singles final in four sets to Roger Federer yesterday. Murray was widely deemed to have won over some previously sceptical fans, who have found him dour, with a gracious and tearful speech following his defeat.
