Cameron: Euro is on the brink May 16, 2012 DAVID Cameron will today warn that “Greece is on the brink” and “the survival of the euro is in question,” thanks to “a crisis that never really went away.” “The Eurozone is at a cross-roads,” he will say in a major speech on the economy. “It either has to make-up or it is looking at [...]
FSA targets brokers for insider cases May 16, 2012 THE FSA has written to 190 brokers demanding explanations for why they have failed to flag up enough “suspicious trades” to the City watchdog and warning they could face visits from enforcement officers as a result. The letters, sent in April, are part of a wider FSA crackdown targeting not just those leaking and trading [...]
Inflation will be above target until mid-2013 May 16, 2012 INFLATION will stay above target for another year, the Bank of England warned yesterday, while Britain’s economic growth will be even weaker than it expected just a few months ago. Households will keep suffering under soaring prices all year, with inflation only expected to fall back to its two per cent target in the middle [...]
Eurozone break-up will be traumatic but is now inevitable May 16, 2012 IT is good to see Sir Mervyn King and David Cameron both being a little more open about the possibility of a Greek default. We need realism, not delusion, from our central bankers and politicians; and it is looking more likely by the day that Greece will elect a rabidly anti-austerity government next month, default [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 16, 2012 FINANCIAL TIMES Google unveils search results rejig Google is preparing the biggest overhaul of its search results in five years, in a change likely to draw more fire from rivals amid intensifying antitrust investigations into the company. The new service will present users with detailed information about more than 500m “real world” items rather than [...]
Falling real pay holds back UK GDP recovery May 16, 2012 WORKERS took another beating in quarter one as prices increased far faster than wages, official data showed yesterday, which will continue to drag down consumer spending and economic growth. Pay in the quarter was just 0.6 per cent higher than in the same period of 2011, the Office for National Statistics (ONS) revealed – while [...]
Fed to stick with current policy May 16, 2012 Several Federal Reserve policymakers last month thought the US central bank might need to do more to prop up the economy if the recovery stumbles, but there was almost no support for extending its so called Operation Twist programme, due to end in June. Minutes of the Fed’s most recent policy-setting meeting, released last night, [...]
ICAP in talks to buy Plus Markets May 16, 2012 The world’s largest interdealer broker by market capitalisation ICAP is in talks to buy Plus Markets Group the UK exchange for fledgling companies. The London-based broker has been talking to the Financial Services Authority and the Plus board about a deal that would initially preserve the quotations of the 156 companies traded on the market, [...]
Early Facebook investors to sell bigger stakes May 16, 2012 FACEBOOK yesterday increased the number of shares on sale by a quarter, setting itself up for a possible $18.4bn (£11.6bn) flotation tomorrow. The social media behemoth added a further 96.4m shares to its offering, bringing the total number on sale to 484.4m, At the higher end of the $34 to $38 price range, the flotation [...]
JP Morgan hit by two investor lawsuits over $2bn trading loss May 16, 2012 JP MORGAN has been hit by two separate lawsuits from shareholders accusing it of excessive risk-taking following last week’s revelation of a $2bn trading loss due to a “failed hedge strategy”. Jamie Dimon, JP Morgan’s chairman and chief executive, and Douglas Braunstein, the bank’s finance director, are accused of breaching fiduciary duty to investors and [...]
