US GDP in fastest growth for a year October 27, 2011 The US economy grew at its fastest pace in a year in the third quarter as consumers and businesses stepped up spending, creating momentum that could carry into the final three months of the year. Though part of the increase in output came from the reversal of temporary factors that had restrained growth, the expansion [...]
Fall in UK retail sales eases October 27, 2011 The decline in retail sales eased off in October, but the underlying trend remains weak despite and expected pre-Christmas pick-up, a survey by the Confederation of British Industry showed. The CBI distributive trades survey’s reported sales balance rose to -11 from September’s -15, which economists had forecast to see repeated. Analysts had forecast a steady [...]
Santander: We can meet capital requirements without cutting divi October 27, 2011 Spanish bank Santander saidit would meet new Europe-wide capital requirements without carrying out a capital increase and without cutting dividends. The euro zone’s largest bank said it aimed to reach 10 percent core capital by June 2012, up from 9.42 per cent at the end of the third quarter. A mark to market of its [...]
Eurozone debt deal unveiled October 27, 2011 European leaders have hammered out a “three-pronged” deal aimed at resolving the region’s crippling debt crisis. The leaders said private banks holding Greek debt had accepted a loss – or haircut – of 50 per cent. Banks must also raise more capital to protect them against losses resulting from any future government defaults. The deal is [...]
Osborne: UK will not contribute to Eurozone bailout October 27, 2011 Britain will not contribute to a euro zone bailout fund, Chancellor George Osborne said following a deal to address the euro zone crisis. “We are not going to contribute to the euro zone bailout, but we are members of the IMF … We aren’t turning our backs on the IMF,” Osborne told BBC radio. “The [...]
William Hill revenue growth slows October 27, 2011 Britain’s biggest operator of high street betting shops, William Hill said revenue growth slowed in the third quarter as the company came up against comparatives boosted by last year’s World Cu in South Africa. William Hill, which has 2,350 betting shops and takes more than a million bets a day, said net revenue grew by [...]
Paragon buys RBS consumer loans portfolio October 27, 2011 Buy-to-let mortgage specialist Paragon has agreed to buy a portfolio of unsecured consumer loans from part-nationalised British bank Royal Bank of Scotland for £43m, and added it could snap up further assets in the near future. “We are extremely pleased to announce a further loan portfolio acquisition through our investment division, Idem Capital,” Paragon Chief [...]
Shell profits double on higher oil prices October 27, 2011 Royal Dutch Shell has reported a doubling of net profits in the third quarter compared to the same period last year, thanks to higher oil prices. Europe’s largest oil company by market value said it’s current cost of supply (CCS) net income was $7.2bn (£4.4bn). Excluding one-offs, the result was $7bn, ahead of an average [...]
Race probe won’t prevent Terry leading out England October 26, 2011 EMBATTLED Chelsea skipper John Terry will retain the captaincy of his country for next month’s friendlies even if the investigation into his alleged racist slur against Anton Ferdinand has not been resolved. England host world and European champions Spain on 12 November at Wembley three days before Sweden arrive in the capital. The Football Association, however, [...]
Sturridge pounces to seal cup win which Villas-Boas dedicates to his absent skipper October 26, 2011 EVERTON 1 vs CHELSEA 2 CHELSEA manager Andre Villas-Boas dedicated last night’s Carling Cup victory to club captain John Terry. The 30-year-old, currently being investigated by the Fooball Association following claims he racially abused QPR defender Anton Ferdinand, was rested ahead of Saturday’s London derby against Arsenal. In his absence, Saloman Kalou put Chelsea ahead, [...]
