The great interest rate rip off part 8

[interestrateripoff]

Exclusive: South Korea's KT weighs Maroc Tel bid - sources

 

7:59pm GMT

 

HSBC to pay record $1.9 billion U.S. fine in money laundering case |

 

7:55pm GMT

 

Peugeot plans to eliminate 1,500 more French jobs by 2014-union

 

7:54pm GMT

 

Delta buys Virgin Atlantic stake to boost London access |

 

Aerospace & Defence 7:56pm GMT

 

Delta buys Virgin Atlantic stake to boost London access

 

Aerospace & Defence 7:45pm GMT

 

BBVA not to invest in Spain's "bad bank" - sources

 

Spain 7:27pm GMT

 

Fitch says Spain regions on track for 2012 deficit targets

 

Spain 7:27pm GMT

 

ECB's Praet says limited room to cut rates - paper

 

6:43pm GMT

 

Monte Paschi to clinch long-awaited rescue deal-sources

 

6:42pm GMT

 

Deutsche Bank cuts power and gas trading staff - trade sources

 

6:22pm GMT

 

HSBC told to employ monitor to oversee compliance

 

6:07pm GMT

 

FTSE inches up to highest close in nine months

 

FXpert 5:41pm GMT

 

EU pension changes will hammer UK economy, says lobby group

 

5:36pm GMT

 

Oligarchs, not investors, to get Abramovich Norilsk windfall

 

4:43pm GMT

 

Europe's rich suffer lowest investment returns in years-survey

 

4:39pm GMT

 

Regulators say EU to delay Basel bank capital rules

 

4:33pm GMT

 

Diageo ends talks over tequila brand Cuervo

 

4:24pm GMT

 

Rosneft near final TNK-BP deal with tycoons - sources

 

4:09pm GMT

 

BT selling $183 mln stake in Tech Mahindra

 

4:07pm GMT

 

Pan-European patent in prospect after years of dispute

 

3:22pm GMT

 

EU investigates Romanian power market

 

3:10pm GMT

 

Ryanair CEO confident EU will accept remedies for Aer Lingus deal

 

Aerospace & Defence 3:07pm GMT

 

Swiss police say leak at Novartis plant hurts six

 

World 2:35pm GMT

 

BRICs score lowest on intellectual property protection - index

 

2:34pm GMT

 

Argentina debt case weakens incentives to settle

 

2:20pm GMT

 

Sweden to stay outside, might not block EU bank union

 

2:18pm GMT

 

Swiss Re wins longevity pension deal with UK's LV

 

2:17pm GMT

 

UBS to charge banks for Swiss franc deposits

 

2:12pm GMT

 

Siemens says energy unit will bear brunt of cost cuts

 

1:49pm GMT

 

IMF deal delayed to explain reforms to Egyptians - minister

 

IMF 1:44pm GMT

 

Sweden unlikely to join EU banking union - Borg

 

1:34pm GMT

 

Diageo ends talks over tequila brand Cuervo

 

1:21pm GMT

 

German investor morale improves sharply in December

 

1:12pm GMT

 

Northern Rock AM to refund 270 million pounds to customers

 

UK 1:10pm GMT

 

Top advisor rejects challenge to Europe's one-stop patent

 

Spain 1:09pm GMT

 

Jaguar Land Rover mulls Saudi Arabia plant

 

1:05pm GMT

 

Regulators say EU to delay Basel bank capital rules

 

1:01pm GMT

 

Britain says won't stand in way of Nexen-CNOOC deal

 

UK, 12:47pm GMT

 

Merkel trusts Italy voters will stick to Monti reforms

 

12:46pm GMT

 

Top body wants halt in global accounting alignment

 

G20 12:42pm GMT

 

EU regulators to examine food retailers' own-brand items

 

12:28pm GMT

 

Wi-LAN sues RIM for bluetooth patent infringement

 

12:07pm GMT

 

UBS to charge banks for Swiss franc deposits from December 21

 

12:05pm GMT

 

Irish regulator calls for rethink of financial crime law

 

12:02pm GMT

 

U.S. "fiscal cliff" outcome still uncertain; talks continue |

 

World, 11:53am GMT

 

World Bank's Kim hopeful on Europe, fiscal cliff

 

World 11:53am GMT

 

Ashtead booms as builders switch to renting equipment

 

11:51am GMT

 

ASOS running at full speed to meet demand

 

11:38am GMT

 

Costa hits record sales as Starbucks tax woes rumble on

 

11:31am GMT

 

UK stocks set for miner fillip to outpace Europe

 

11:19am GMT

 

Bank of Italy sees recession exit in late 2013

 

11:15am GMT

 

Basel III rules set to be delayed by up to a year - Bank of Italy

 

11:15am GMT

 

Fall in house prices accelerates in November - RICS

 

UK, 11:03am GMT

 

AstraZeneca starts mid-stage TB drug trial in South Africa

 

Africa 11:01am GMT

 

Barclays Spanish unit fined for mis-rating bonds

 

10:38am GMT

 

Spain beats target selling 3.9 billion euros in bills

 

Spain 10:34am GMT

 

Sberbank sees 2012 RAS net profit at over $11 billion

 

10:16am GMT

 

JLR says looking at potential to set up facilities in Saudi Arabia

 

10:05am GMT

 

Carpetright profits from store revamp

 

10:04am GMT

 

Saudi says in preliminary deal to make Jaguar Land Rovers

 

10:03am GMT

 

Spread-better IG Group curbs costs as markets turn tame

 

9:45am GMT

 

Tullow spends up to $670 mln on Norway deal, to exit UK

 

Norway, Africa 9:25am GMT

 

Chinese group in talks to buy AIG air lease arm

 

Japan, Aerospace & Defence 8:57am GMT

 

ThyssenKrupp CEO vows to fix steelmaker's "disaster"

 

8:49am GMT

 

Thailand's PTTEP to invest $1.3 billion for Cove Energy over 5 years

 

8:32am GMT

 

BOJ likely to ease again next week via asset buying - sources

 

Japan 8:01am GMT

 

Whitbread sales rise on Costa Coffee demand

 

7:44am GMT

 

Ashtead profit soars on U.S. rental shift

 

7:44am GMT

 

ASOS maintains heady rate of sales growth

 

7:42am GMT

 

Domino Printing profit falls; cautions on 2013 market conditions

 

7:41am GMT

 

Heathrow's November traffic up 3.1 percent year-on-year

 

7:24am GMT

 

German data, U.S. fiscal hope lift stocks, euro

 

FXpert, 5:51pm GMT

 

U.S. to sell rest of AIG stock, ending $182 billion rescue

 

5:05am GMT

 

UK think tank warns government on tax policy - FT

 

3:19am GMT

 

China November loans slow but economic recovery on track

 

3:13am GMT

 

EU's Rehn says euro zone must pursue structural reforms

 

1:58am GMT

 

Exclusive: SPX in exclusive talks to buy Gardner Denver - sources

 

1:37am GMT

 

UK firms' hiring plans strongest since third-quarter 2008 - survey

 

UK, 1:05am GMT

 

Fall in house prices accelerates in November - RICS

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[/url]

 

Northern Rock to refund £270m to borrowers after error - Treasury

 

More than 150,000 people who borrowed money from Northern Rock cannot legally be required to pay interest and could be in line for refunds, the Treasury has admitted.

30 Comments

 

 

Greek buyback programme misses target

 

Greece's debt buyback attracted bids totalling €31.8bn but the price paid for the bonds will not be low enough to reduce the debt burden to 124pc of GDP by 2020, says a eurozone official.

21 Comments

Berlusconi: who cares about Italian borrowing costs?

 

 

Debt Crisis: as it happened - December 11, 2012

 

 

OBR: loss of AAA rating is nothing to fear

 

 

 

Three arrested in SFO Libor-rigging probe

 

Three men have been arrested at their homes by the City of London Police as part of a criminal investigation connected to the alleged manipulation of Libor.

UK law may struggle to bring prosecutions of Libor traders

 

 

 

HMV supported with £40m from suppliers

 

Entertainment retailer HMV is being backed over the vital Christmas trading period with funding of around £40m from its suppliers.

Comment

 

Channel 4 and WPP in advertising stand-off

 

Channel 4 is locked in a stand-off with WPP, the world’s biggest advertising group, which could end up pulling all of its ads from the broadcaster.

Comment

 

HSBC pays $1.92bn to settle laundering claims

 

HSBC will pay US authorities a record $1.9bn (£1.18bn) to settle allegations that its failure to enforce anti-money laundering rules left America's financial system exposed to drug cartels.

Private equity firms join race for 4G contract

 

 

 

 

Tullow buys Norwegian oil explorer, exits UK

 

 

 

 

'Taxman's favourite' Costa gets lift from Starbucks row

 

 

 

 

 

 

Carney suggests abandoning inflation target

 

Mark Carney, the incoming Governor of the Bank of England, has suggested abandoning inflation targeting to rescue ailing economies in a speech that rewrote the central banking rulebook.

Comment

Housing crisis is the scandal of our age

 

 

 

 

Uncertainty in Greece as buyback programme misses target

 

 

 

 

The Coalition is riddled with contradictions

 

 

 

George Osborne is between a Rock and a hard place

 

The Coalition is riddled with contradictions

 

Britain is becoming a nation of renters

[interestrateripoff]

11 December 2012 Last updated at 19:02

 

 

HSBC guilty of 'stunning failure'

 

The US says 'dangerous practices' at HSBC allowed the bank to pass money to "drug kingpins and rogue nations", fining it $1.9bn (£1.2bn).

 

• HSBC report: Key findings
  
• Peston: Who pays for banks’ sins?
  
• Global banking scandals explained
  
• Lord Green 'regrets' HSBC scandal Watch
  
• Bank hit by $300m in Iran fines
  

 

Northern Rock will repay £270m

 

Some 152,000 Northern Rock customers will receive hundreds of pounds each in compensation owing to mistakes made in paperwork.

 

 

Delta buys into Virgin Atlantic

 

Delta Airlines agrees to buy Singapore Airlines' 49% stake in Virgin Atlantic, in a deal which was the subject of a high-profile spat between Sir Richard Branson and BA's Willie Walsh.

 

• Branson 'offered knee in groin'
  
• Branson offers BA £1m Virgin bet
  

 

 

 

• Three men arrested in Libor inquiry
   
  Three men are arrested in connection with continuing investigations into the manipulation of the Libor inter-bank lending rate.
  
• Advertising giant returning to UK
   
  Advertising agency WPP is moving back to the UK, with the creation of a new parent company to be based in the country.
  
• Shoe retailer to close 90 stores
   
  High street shoe retailer Stead and Simpson confirms it is to close 90 of its stores following a review.
  
• MEPs vote to unify patent system
  
• FSA 'misgivings' over carbon deal
  
• OBR stresses borrowing may rise
  
• Jaguar considers new Saudi plant
  
• Train-maker wins £106m contract
  
• Pensions plans 'will cost jobs'
  
• Berlusconi attacks Monti's record
  
• Plans target bogus whiplash cases
  
• Chipmaker gets government bailout
  
• Online ticket fraud complaints up Newsbeat
  
• E.On to increase prices by 8.7%
  
• Strauss-Kahn in hotel maid 'deal'
  
• Who pays for banks’ sins?
   
  11 hours ago
  HSBC’s record £1.2bn fine for money laundering offences is part of a painful and expensive trend for banks, their shareholders and their customers - of ever growing fines and penalties for their sloppiness and misbehaviour in the boom years.
  

[interestrateripoff]

Challenging London as Europe’s Financial Capital

 

By MARK SCOTT

 

Proposals aimed at shifting power to rivals like Frankfurt and Paris reflect concerns that so much trading in the euro is done in a country that does not use the currency.

 

• DealBook Winter 2012 Special Section: Business Between Worlds
  

Suzanne Plunkett/Reuters

 

CRITICAL MASS The financial district in London. European politicians wonder why so much trading in the euro is done where the currency isn’t used.

 

 

 

DealBook

 

Three Arrested in Libor Investigation

 

By MARK SCOTT and BEN PROTESS 1:07 PM ET

 

British authorities have arrested three men in connection with a rate-rigging inquiry, including Thomas Hayes, a former trader at Citigroup and UBS.

 

DealBook

 

Delta Takes 49% Stake in Virgin Atlantic for $360 Million

 

By JAD MOUAWAD 9:55 AM ET

 

The deal will provide Delta Air Lines with more access to Heathrow Airport in London, one of the world's busiest hubs, where takeoff and landing rights are limited because of high demand and tight capacity.

 

Greece Exceeds Target in Debt Buyback Plan

 

By LANDON THOMAS Jr. 43 minutes ago

 

As a result, Greece will soon be able to receive more than 40 billion euros, 0r $52 billion, in desperately needed loans to recapitalize its banks and keep the government functioning.

 

Stocks Add to Gains

 

By REUTERS

 

Shares on Wall Street traded about 1 percent higher on European data and in advance of a Fed policy decision.

 

• Decline in Exports Hurts U.S. Trade Deficit 11:43 AM ET
  

 

Michigan Bills Limiting Union Power Pass in Legislature

 

By MONICA DAVEY 14 minutes ago

 

Over the shouts of angry protesters, lawmakers on Tuesday approved two bills that would vastly reduce the power of organized labor in Michigan, a traditionally strong union state.

 

• Post a Comment | Read (360)
  

 

E.U. Reaches Agreement on System for Patents

 

By JAMES KANTER 6 minutes ago

 

The bickering that has plagued the development of a uniform patent system in Europe foreshadows the problems another crucial effort, the creation of a banking union, could face.

 

New Problems With Boeing 787 Revive Concerns

 

By CHRISTOPHER DREW and JAD MOUAWAD

 

Two embarrassing snags last week revived concerns about the reliability of the Boeing 787, as officials sought to cast them as normal growing pains for an advanced aircraft.

 

• Post a Comment | Read (68)
  

 

DealBook

 

HSBC to Pay $1.92 Billion Fine to Settle Charges Over Laundering

 

By BEN PROTESS and JESSICA SILVER-GREENBERG

 

The announcement of a settlement on Tuesday came after state and federal authorities decided against indicting the British bank in a money-laundering case.

 

• DealBook: Standard Chartered Agrees to Settle Iran Money Transfer Claims
  

 

 

 

• Diller Steps Aside at TripAdvisor; Sells Stake 30 minutes ago
  
• DealBook: Treasury Earns $7.6 Billion From Sale of Last Shares in A.I.G. 9:43 AM ET
  
• DealBook: Diageo Ends Talks to Buy Jose Cuervo Brand
  

[interestrateripoff]

Harry Reid Speaks; Stock Market Leaks

 

It's Not The Economy, It's The Deja Deja Deja Deja Deja Vu Pre-FOMC Rally, Stupid

 

Austrian Civil Servant Blows $440 Million In Taxpayer Funds On Risky Derivatives

 

One Small Voice

 

Guest Post: Essays In Fragility: Our One-Off Economy

 

Greek Debt Buyback Falls Short Of Goal, Will Reduce Greek Debt/GDP Target Less Than Required

 

We Built It - But They Did Not Come

 

Go West Young Man, To The "New Normal" Dream Job: California State Workers Earning $822,000

 

Goldman Q4 GDP Forecast At 1.0% Following Trade Data

[interestrateripoff]

Art Cashin Previews Our $202 Trillion Destiny

 

October US Exports Plunge By Most Since January 2009 As Trade Deficit With China Hits Record

 

Credit Suisse Deploys Motivational Secret Weapon: Announces Another 120 Unnamed Layoffs Coming

[interestrateripoff]

http://www.bankofcan...eches/guidance/

 

http://www.bankofcan...arks-111212.pdf

 

Guidance

 

Remarks - Mark Carney

Governor of the Bank of Canada

Presented to: CFA Society Toronto

Toronto, Ontario

 

11 December 2012

 

Introduction

 

It is a pleasure to be here today to discuss guidance.

 

Guidance is fundamentally about managing expectations, so let me manage yours up front. This speech is primarily about policy guidance; it will not itself provide new policy guidance.

 

We all need guidance from time to time - we look to our parents, teachers, partners and peers for their help to make life, career or major financial decisions. Ultimately, though, these decisions are ours to make, and the consequences ours to bear.

 

Taking responsibility is why you became Chartered Financial Analysts: to learn how to analyse information, to make difficult valuation and credit decisions, and to bear the risks and reap the rewards that result. You rely on accurate and full disclosure by the companies you analyse. Without it, you could not do your jobs; and, indeed, financial markets could not do theirs of bringing together savers and investors to allocate capital efficiently. With more CFA Charter holders per capita than any other major jurisdiction, Canada is favoured by such an emphasis on fundamental analysis at the core of our system.

 

Beyond disclosure, what else can be usefully conveyed? Does the communication of companies’ expectations of performance serve a purpose? What about central bank expectations about future policy?

 

In my remarks, I will discuss where such guidance can be effective and when it may be warranted. My main message is while transparency is critical to well-functioning capital markets and effective monetary policy, forward guidance of policy is best used sparingly in normal times. In extraordinary times, however, conditional guidance can be used to resolve time inconsistencies and achieve a better path for the economy.

 

First, allow me to address the private sector use of guidance and its impact on the financial markets.

 

Our new great leader taking us into the brave new world....

[interestrateripoff]

Breaking news

 

• Berkshire buyback seen clashing with estate tax push - Reuters
  

 

 

 

• Unemployment falls as private sector jobs hit all-time high
   
  Public sector pay roll shrinks to lowest level in a decade – but there are more private sector jobs than ever before, ONS says
  453 comments
  
  • OBR warns on reliability of borrowing forecasts
    
  • House prices and jobs surveys offer glimmer of hope
    
  • Unemployment: key UK data for every constituency
    
  • Heather Stewart: This is the reality of flexible labour
    
  • Youth unemployment mapped
    
  • Record number of people in work - video
    

  [*] Fed to keep rates near zero

   

  Federal Reserve revamps asset-buying programme and will keep rates low while jobless rate stays above 6.5% in move to jolt recovery

  6 comments

  • Eurozone crisis: Wednesday as it happened
    
  • Berlusconi launches election campaign
    
  • Nils Pratley: Monti's success was only superficial
    

  [*] Former FSA boss Hector Sants joins Barclays as head of compliance

   

  Sants to join after Financial Services Authority gardening leave is over and be responsible for bank's relationship with regulators

  91 comments

  • Greek austerity makes for low-key Christmas
    
  • Nils Pratley: Barclays gains more than Sants
    
  • Bleak day for British banking
    
  • HSBC's $1.9bn 'fine preferable to prosecution'
    
  • What does a bank have to do to get prosecuted?
    
  • Libor investigation: three arrested
    
  • Northern Rock blunder triggers £270m taxpayer bill
    

  [*] Rise in first-time buyer mortgages

   

  About 20,000 loans for first-timers were advanced in October, but wary market expert labels them 'the transactions of a privileged few'

  52 comments

 

 

• Oil demand in 2013 to rise as world economy recovers, IEA says
   
  Improving economic conditions in China and the US should bring around 865,000 barrels of extra crude oil demand during 2013, the International Energy Agency forecasts
  2 comments
  
• Vince Cable calls for international efforts on tax avoidance
   
  Business secretary admits that governments are 'behind the curve' on corporate tax avoidance as the row over Starbucks rumbles on
  
• Zara owner Inditex continues China march as profits soar
   
  World's biggest fashion retailer Inditex opening five shops a shops in China to serve Asia's booming middle class
   
  
  • Darty unveils €11m half-year loss
    

  [*] Time for FTSE firms to use female executive database

   

  Jill Treanor: A list is now available of more than 8,000 names of women ready, able and qualified to take seats on boards around the world

  4 comments

  • Research highlights lack of women in executive roles
    

  [*] More business news

  [*] Facebook to improve privacy controls

[interestrateripoff]

Google boss: I'm very proud of our tax avoidance scheme

 

12 December 2012 07:36 PM

Google's Chairman Eric Schmidt said £2.5 billion tax avoidance 'is called capitalism'

 

 

UK gets set for battle to defend City from EU bank union

 

12 December 2012 12:00 AM

David Cameron and George Osborne will today begin a rearguard action to stop the City of London's status as the world's leading financial centre being threatened by plans for banking union inside the eurozone.

 

 

 

Republicans say Obama is risking new recession

 

12 December 2012 07:23 PM

Battle over budget as spending cuts and tax increases loom

 

 

 

Buyer closing in on Red Star

 

11 December 2012 11:30 PM

Aquiline Capital Partners, a private-equity firm led by the son of former AIG boss Hank Greenberg, is in the driving seat to buy Lloyd's of London insurer Equity Red Star.

 

 

 

Rolls-Royce whistleblower 'cheated'

 

11 December 2012 11:30 PM

Dick Taylor, the whistleblower who raised concerns over bribery allegations at Rolls-Royce, says he felt "cheated" by his experience as an employee of the company.

 

 

 

Mogul moves aside at TripAdvisor

 

11 December 2012 11:30 PM

The billionaire media mogul Barry Diller is to move out of the chairman's suite at TripAdvisor after handing control of the online travel information business to John Malone's Liberty Interactive investment firm.

 

 

 

Inditex UK chief heads across the Pond

 

11 December 2012 11:30 PM

Dilip Patel, the UK managing director of the Spanish group behind Zara, is to take the helm of the company's fledgling United States business.

 

 

 

Asos says US sales are set to overhaul UK

 

11 December 2012 11:30 PM

The chief executive of online fashion retailer Asos has boasted that its US sales will outstrip the UK over the next three years after sales there boomed in its first quarter.

 

 

 

Sorrell group may pull all its ads from Channel Four in costs row

 

11 December 2012 11:30 PM

Channel 4 is facing the prospect that the world's biggest advertising group could, from January, pull all its ads in a major test of strength over the cost of TV airtime.

 

 

 

Carpetright is banking on beds

 

11 December 2012 11:30 PM

The chief executive of Carpetright is confident about the floor-coverings retailer grabbing a bigger slice of the beds market after a sales jump.

 

 

 

IG in the doldrums as the markets calm

 

11 December 2012 11:30 PM

Becalmed stock markets are good news for investors but bad news for the UK's biggest spread-betting firm, which reported sliding revenues today.

 

 

 

UK 'need not fear loss of AAA status'

 

11 December 2012 11:30 PM

Britain has no reason to fear a spike in borrowing costs if stripped of its AAA credit rating, the Government's fiscal watchdog suggested today.

 

 

 

Virgin Atlantic teams up with Delta after stake deal

 

11 December 2012 11:30 PM

Virgin Atlantic has agreed to set up a transatlantic joint venture with Delta after the United States carrier bought a 49 per cent stake in Sir Richard Branson's airline for $360m (£224m).

 

 

 

Still too few women in boardroom, warns ABI

 

11 December 2012 11:30 PM

UK boardrooms are becoming more diverse but the lack of female executives remains a major concern for investors, one of the country's leading shareholder groups has claimed.

 

 

 

Whitbread froths up thanks to fury over Starbucks tax

 

11 December 2012 11:30 PM

Whitbread-owned Costa Coffee saw its sales soar 25.5 per cent in the 13 weeks to the end of November as its United States rival Starbucks flew into controversy over its failure to pay UK corporation tax.

[interestrateripoff]

Berkshire buyback seen clashing with estate tax push

 

8:14pm GMT

 

SocGen sells Egypt arm to QNB for $2 billion

 

6:57pm GMT

 

Renault sells remaining Volvo stake

 

6:51pm GMT

 

Bank of Ireland extends market return with debt issue

 

6:33pm GMT

 

Credit Agricole mulls new investment bank cuts-DJ

 

6:30pm GMT

 

Europe nears deal to make ECB chief bank watchdog |

 

UK, 6:14pm GMT

 

FTSE closes at a nine-month high on Fed hopes

 

FXpert 6:07pm GMT

 

Tui Travel replaces Pennon in FTSE rejig

 

6:04pm GMT

 

Tui Travel replaces Pennon in FTSE rejig

 

FXpert 6:02pm GMT

 

ECB needs time to set up bank supervision-Germany's Schaeuble

 

5:56pm GMT

 

Deal within reach on banking supervision - Osborne

 

5:56pm GMT

 

Carney risks clash at BoE over inflation target

 

5:53pm GMT

 

France wants 30 billion euro threshold for bank supervision -finance minister

 

UK 5:44pm GMT

 

UK retailer Waitrose puts a halt on Shell venture

 

5:36pm GMT

 

Greece's lenders call bond buyback a success, endorse aid

 

5:21pm GMT

 

Dutch tax authorities to provide details of yachts to Greece

 

5:21pm GMT

 

British banks' peripheral euro zone risks catch BoE's eye

 

5:15pm GMT

 

Barclays names ex-FSA boss Sants as compliance chief

 

5:13pm GMT

 

UK channels business lending via alternative financiers

 

5:12pm GMT

 

British unemployment claims fall unexpectedly |

 

UK 5:12pm GMT

 

Pfizer to pay $55 million to settle Protonix case

 

5:05pm GMT

 

Nasdaq to buy Thomson Reuters PR, IR units for $390 million

 

5:02pm GMT

 

Lloyds bet starts to pay off for hedge fund Lansdowne

 

4:58pm GMT

 

Deutsche Bank co-CEO drawn into C02 tax evasion probe

 

7:09pm GMT

 

EU report urges action against Chinese telecom firms

 

4:45pm GMT

 

Banks should cut pay to win over investors - BoE's Jenkins

 

4:28pm GMT

 

Deutsche Bank Co-CEO, CFO also part of carbon probe

 

4:24pm GMT

 

Iraq, Saudi on OPEC collision course over next oil curb

 

4:18pm GMT

 

Exclusive - Germany backs paying out next Greek aid tranche - letter

 

3:55pm GMT

 

Dutch parliament rejects motion to block Greek aid tranche

 

3:55pm GMT

 

Rosneft finalises deal to buy TNK-BP stake from AAR

 

3:44pm GMT

 

Shrinking currency trade likely to bring jobs cull

 

UK 3:38pm GMT

 

EU approves budget for 2013, more money for 2012

 

2:56pm GMT

 

Highlights - Comments from EU finance ministers, officials

 

2:56pm GMT

 

Italy PM Monti offers car makers sympathy but no aid

 

2:44pm GMT

 

Greece considers bond buyback from PSI holdouts

 

2:39pm GMT

 

Dutch PM appeals against block of Greek pay-out

 

2:36pm GMT

 

Nasdaq to buy Thomson Reuters' PR, IR units

 

2:22pm GMT

 

Exclusive - Germany backs paying out next Greek aid tranche - letter

 

2:01pm GMT

 

Zara owner Inditex marches on in China

 

Spain 1:57pm GMT

 

Swedish finance minister: deal possible on banking union on Wednesday

 

UK 1:42pm GMT

 

HSBC - How Simple Became Complicated, and costly

 

1:07pm GMT

 

Greece wants extra funds to buy back all bonds offered

 

12:45pm GMT

 

German finance ministry says Greek debt buyback went well

 

12:29pm GMT

 

BoE's Dale warns of further fall in UK living standards

 

12:12pm GMT

 

BoE's Dale says "open-minded" to QE alternatives

 

12:01pm GMT

 

BoE's Dale warns of further fall in UK living standards

 

UK, 11:46am GMT

 

Germany says breakthrough possible in EU banking talks

 

11:37am GMT

 

Italy passes first debt test after Monti's exit plan

 

11:35am GMT

 

Euro zone factory output falls again, recovery far off

 

11:22am GMT

 

Scandinavian airline SAS eyes 2012/13 profit

 

11:06am GMT

 

Prosecutors search Deutsche Bank HQ in widening probe

 

11:06am GMT

 

Prosecutors search Deutsche Bank HQ in widening probe

 

11:05am GMT

 

Greece wants extra funds to buy back all bonds offered

 

10:57am GMT

 

Britain struggling to boost investment in infrastructure

 

UK 10:32am GMT

 

Coolant safety row puts the heat on Europe's carmakers

 

10:20am GMT

 

Xstrata's Philippine unit delays $5.9 billion mine project to 2019

 

10:17am GMT

 

Instant View - UK November jobless claimant count falls, October rise revised down

 

UK, 10:03am GMT

 

Puma CEO steps down as PPR steps in

 

9:34am GMT

 

Barry Callebaut sees modest growth in chocolate market

 

9:09am GMT

 

Travis Perkins sales trend downwards in November

 

8:50am GMT

 

French November inflation lowest in more than two years

 

8:30am GMT

 

Renault-Nissan finalises Russian auto deal

 

Japan 8:24am GMT

 

Carillion sees stronger pipeline by year-end

 

8:05am GMT

 

London Olympics' emissions 28 percent lower than forecast-organisers

 

8:01am GMT

 

Darty swings to first-half loss; to review non-core operations

 

7:38am GMT

 

SuperGroup on recovery path with profit rise

 

7:38am GMT

 

Stagecoach rejects Twin America allegations

 

7:29am GMT

 

Global fund managers battle for investor cash bound for China

 

7:18am GMT

 

Barry Callebaut to buy Petra Foods cocoa unit for $950 million

 

6:55am GMT

 

Suntory to list food and soft drinks unit in up to $6 billion IPO - sources

 

Japan 6:53am GMT

 

Stocks, euro rise, bonds fall after Fed move

 

FXpert, 8:07pm GMT

 

Yahoo Japan to buy CyberAgent's forex operations for $254 million

 

Japan 6:26am GMT

 

Autonomy spurs questions on looming accounting overhaul

 

6:01am GMT

 

Analysis - More pressure on global wages could backfire

 

5:55am GMT

 

Fed set to expand its monetary stimulus

 

5:01am GMT

 

Nissan to extend line-up of hybrids, electric vehicles

 

Japan 3:28am GMT

 

HSBC became bank to drug cartels, pays big for lapses |

 

3:24am GMT

 

Cosmetic giant Avon will cut 1,500 jobs globally

 

2:56am GMT

 

PGA of America says tougher rules could hurt game

 

1:08am GMT

 

Parliamentarians fear impact of EU banking union plan

 

UK, David Cameron, 3:35pm GMT

 

Italy to pass first debt market test as Monti readies to quit

[interestrateripoff]

12 December 2012 Last updated at 19:00

 

 

Big decline in UK unemployment

 

The number of people out of work fell by 82,000 between August and October, to 2.51 million, the biggest drop for a decade, official figures show.

 

• Flanders: Jobs up, pay down
  
• Economy tracker: Unemployment
  
• PM: Unemployment stubbornly high Watch
  
• Unemployment fall 'fragile' - Labour Watch
  
• 'Signs of a strong labour market' Watch
  

 

Rebekah Brooks gets £10.8m payoff

 

Rebekah Brooks, the former chief executive of News International who stepped down due to the phone hacking scandal, received a payoff of £10.8m, it emerges.

 

 

US Fed sets new targets for rates

 

The Federal Reserve will keep interest rates at near-zero at least until the US jobless rate falls below 6.5% and will continue to buy $85bn (£53bn) a month of assets.

 

• Q&A: The US fiscal cliff
  
• Fiscal cliff 'substantial threat'
  

 

 

 

• Sants joins Barclays in top job
   
  Hector Sants, the former chief executive of the Financial Services Authority, is joining Barclays bank to improve its reputation with governments and regulators.
  
• Repeat payments 'not made clear'
   
  Traders ranging from online dating websites to gyms use recurring payments, but some are failing to make the system clear to customers.
  
• Savings accounts 'shrink by 15%'
   
  Banks and building societies have been cutting the number of savings accounts on offer, because of the Bank of England's Funding for Lending Scheme.
  
• Traders in line for savers' funds
  
• Watchdog orders end to PPI texts
  
• Porsche breaks car sales record
  
• Supergroup shares fall on results
  
• Zara owner Inditex profits up 27%
  
• Carney suggests Bank target shift
  
• Deutsche Bank's offices raided
  
• Bus venture faces US legal action
  
• 'Positive' year ahead for housing
  
• Greece reveals buyback results
  
• India factory output surges 8.2%
  
• Jobs up, pay down
   
  7 hours ago
  Jobs prospects for young people are starting to look a bit healthier - though the average pay packet is not.
  
• Britain’s investment crisis
   
  10 hours ago
  How do UK and Europe reverse a fall in private-sector investment since 2007 that is calculated by McKinsey as larger than any previous decline in absolute terms and four times the drop in real GDP?
  

[interestrateripoff]

UK employment at fresh high as more Britons secure full-time work

 

The Government received a welcome respite this morning as official unemployment figures showed a further fall in the jobless total, with tens of thousands more people in full-time jobs.

488 Comments

Cable: investors' expections are unrealistic

 

Vince Cable has admitted that there “may well be a conflict” between investor expectations of returns from bank stocks and Government policies.

10 Comments

 

Fed ties low rates to unemployment level

 

The Federal Reserve has signalled it will consider raising interest rates when the US unemployment rate falls below 6.5pc, as the central bank tries to offer further clarity on when the era of cheap money will end.

1 Comment

 

Rebekah Brooks 'received £10.9m pay-off'

 

Rebekah Brooks is understood to have received a £10.9m payoff from News International, where she was chief executive.

96 Comments

 

BoE economist warns on Carney's ideas

 

Spencer Dale, the Bank of England’s chief economist, has raised questions about incoming Governor Mark Carney’s radical policy ideas to revive growth – warning that they could jeopardise the central bank’s credibility.

16 Comments

UK faces 'long, painful' road to recovery

 

 

 

Unilever boss sees decade-long Europe slump

 

Europe faces a decade-long slump unless France and Germany resolve their differences and leaders stop "watering down" decisions over the future of the eurozone, the chief executive of Unilever has said.

12 Comments

Debt Crisis: As it happened - December 12, 2012

 

 

 

Barclays names Sants as compliance boss

 

 

 

 

Deutsche Bank co-chief named in carbon tax investigation

 

 

 

 

Stagecoach rejects US 'illegal monopoly' claim

 

 

 

 

Debt Crisis: As it happened - December 12, 2012

 

European finance ministers have gathered in Brussels to thrash out the details of the ECB's bank supervision mechanism after a meeting on December 4 ended in deadlock.

333 Comments

Shared 28 times

Fed boosts QE and ties rates to jobless level

 

 

 

 

Unilever boss sees decade-long Europe slump

 

 

 

 

UK faces 'long, painful' road to recovery

 

 

 

Has the UK jobs market turned a corner?

[interestrateripoff]

Fed to Hold Rates Down Until Jobless Rate Is Below 6.5%

 

By BINYAMIN APPELBAUM 2:19 PM ET

 

 

The central bank said it would maintain short-term interest rates near zero, even after it stops buying bonds, for as long as the unemployment rate stayed above 6.5 percent.

 

• Shares Step Ahead
  

 

 

 

Alex Wong/Getty Images

 

The Fed, led by Ben S. Bernanke, is continuing a policy shift that began in September, when the central bank first made clear that it was focused on reducing unemployment.

 

 

 

 

 

 

10 Arrested in Social-Network Hacking

 

By JOHN H. CUSHMAN Jr. 40 minutes ago

 

Law enforcement officials were assisted by Facebook, whose users were among those targeted by the software employed by cybercriminals in the last few years.

 

Bits Blog

 

Facebook Changes Privacy Settings, Again

 

By NICK BILTON 10:35 AM ET

 

Facebook introduced a number of new privacy settings on Wednesday, some of which will be met with approval and others that may upset privacy advocates.

 

DealBook

 

Top Deutsche Bank Executives Caught Up in Tax Evasion Inquiry

 

By JACK EWING

 

In the course of a tax-evasion inquiry, investigators are trying to determine whether Jürgen Fitschen, co-chief executive of Deutsche Bank, and Stefan Krause, the chief financial officer, played a role by signing certain tax forms.

 

OPEC Leaves Production Quotas in Place

 

By STANLEY REED and CLIFFORD KRAUSS 10:04 AM ET

 

The cartel, meeting in Vienna, faces huge challenges to its market position from rising production in the United States and elsewhere.

 

Guatemala to Deport McAfee to U.S.

 

By REUTERS 15 minutes ago

 

Guatemala will deport to the United States the software pioneer John McAfee, who is wanted for questioning in Belize over the murder of a neighbor, a Guatemalan immigration official said.

 

Republicans Tell F.C.C. Not to Give Away Airwaves

 

By EDWARD WYATT 12:47 PM ET

 

A plan backed by the F.C.C. chairman, Julius Genachowski, to free up some radio spectrum drew criticism from Republicans on a House panel.

 

E.U. Leaders Try to Show Unity on Bank Supervision

 

By JAMES KANTER 6 minutes ago

 

Finance ministers sought to deliver a rare show of unity on the eve of a year-end meeting of European Union leaders.

 

Climate Change Threatens Ski Industry, Leaving Slopes Bare

 

By KATHARINE Q. SEELYE 12:09 PM ET

 

As temperatures rise, analysts predict that scores of the nation’s ski centers, especially those at lower elevations and latitudes, will eventually vanish.

 

• Post a Comment | Read (97)
  

 

Textile Makers in Taiwan Create a High-Tech Niche

 

By LIN YANG

 

The textile industry in Taiwan has transformed over the past 15 years from low-cost fabric makers to producers of specialized materials.

 

 

 

• Lilly to Conduct Additional Study of Alzheimer’s Drug 11:38 AM ET
  
• DealBook: Barclays Names Former British Regulator as Head of Compliance 9:35 AM ET
  
• Wheels Blog: Honda Recalling 807,000 S.U.V.'s and Minivans
  
• Avon Products to Cut 1,500 Jobs and Leave 2 Markets
  

[interestrateripoff]

FOMC: Bend Over America

Got a stick for your teeth?

Release Date: December 12, 2012

For immediate release

 

Information received since the Federal Open Market Committee met in October suggests that economic activity and employment have continued to expand at a moderate pace in recent months, apart from weather-related disruptions. Although the unemployment rate has declined somewhat since the summer, it remains elevated. Household spending has continued to advance, and the housing sector has shown further signs of improvement, but growth in business fixed investment has slowed. Inflation has been running somewhat below the Committee’s longer-run objective, apart from temporary variations that largely reflect fluctuations in energy prices. Longer-term inflation expectations have remained stable.

Uh huh. Inflation has been stable eh? Hmmm..... would you define "stable" please? And while you're doing it please do so in terms of health care, gasoline, loaves of bread, gallons of milk, pounds of steak, you know, things that people actually buy and consume.

I'd like the actual growth numbers in those prices since.... oh.... 2008 if you would. I'll wait.

 

More at the link.

[interestrateripoff]

Bank Takes Drug Money, Gets Handslap

 

The "surprises "just keep coming, don't they?

HSBC Holdings Plc (HSBA)’s Mexican branches had become so well-known to drug traffickers as the place to launder proceeds from illicit sales that cartels began using special boxes to speed transactions, U.S. prosecutors said.

From 2006 to 2010, the Sinaloa cartel in Mexico and the Norte del Valle Cartel in Columbia moved more than $881 million in proceeds through HSBC’s U.S. unit, said Lanny Breuer, assistant attorney general for the U.S. Justice Department’s criminal division. Breuer, along with U.S. Attorney Lorretta Lynch in Brooklyn, New York, announced yesterday the bank had agreed to pay at least $1.9 billion to settle money laundering probes.

Number of banksters in prison? Zero.

Who will "pay" this fine? HSBC's customers and shareholders, neither of whom did anything wrong.

 

No surprise really, bankers never get jailed. There are a few lambs given up for sacrifice but that's it.

[interestrateripoff]

Bernanke Press Conference - Live Webcast

 

"Regime Change": The Critical Message In Today's FOMC Announcement

 

QE4EVA Expands Fed-Eligible Treasury Purchases To All Risky Paper

 

FOMC Does Exactly What Market Told It To Do

 

Chart Of The Day: The Collapsing Half-Life Of Unsterilized Central Bank Intervention

 

FOMC Preview: Expiration, Extension, And 'Evans' Rule

 

Is This The Chart Making Bernanke Nervous?

 

This Is What A Billion Dollar Patent Lawsuit Does For You!

[interestrateripoff]

How A Handful Of Unsupervised MIT Economists Run The World

 

Baltic Dry Plunges By Over 8% Overnight, Most Since 2008

 

Hong Kong Fed's Epiphany: Is Bernanke Wrong About Everything?

 

Have We Seen The Peak Of Employment?

 

"Better Off On Benefits"

 

Guest Post: A Five Minute Example of HFT Shenanigans

 

Guest Post: An Ungovernable Democracy

 

Austrian Civil Servant Blows $440 Million In Taxpayer Funds On Risky Derivatives

 

One Small Voice

[interestrateripoff]

http://seekingalpha.com/article/887561-this-is-what-happened-the-last-time-an-open-ended-qe-was-attempted

 

This Is What Happened The Last Time An Open Ended QE Was Attempted

[interestrateripoff]

http://rogueeconomistrants.blogspot.co.uk/2012/05/why-ngdp-targeting.html

 

These days I keep reading about NGDP targeting, as it keeps being mentioned more and more everywhere. It seems to be another zombie idea taking on more life of its own. It's basically the idea that the current crisis will permanently be solved by the Fed credibly communicating to the people that it will start targeting 4-5% annual growth in nominal GDP level, from here on.

 

 

Wow. Imagine, business planners and executives will have no more compunctions about claiming to their investors that they will attain at least 5% nominal revenue growth year in year out. If they don't achieve it via additional sales volume, the Fed is going to make sure they achieve their targets via inflation. Recessions will be a thing of the past. Woohoo! There will be NGDP growth year after year, courtesy of the Fed, regardless of overall business sentiment. Nobody will ever lose again on a business investment, provided everyone invests their money in the most entrenched TBTF companies.

 

More at the link.

[interestrateripoff]

Google boss: I'm very proud of our tax avoidance scheme

 

13 December 2012 12:00 AM

Google's Chairman Eric Schmidt said £2.5 billion tax avoidance 'is called capitalism'

 

 

Cameron okays integration in return for new EU deal for UK

 

13 December 2012 07:20 PM

PM demands concessions as quid pro quo for closer eurozone monetary union

 

 

 

Pre-Christmas gloom casts new doubts over HMV

 

13 December 2012 01:34 PM

HMV admitted it is almost certain to breach banking covenants at the end of January and again at the end of April

 

 

 

Google rescues iPhone users from the outback with new Maps app

 

13 December 2012 01:34 PM

The launch of the downloadable app comes after two-and-a-half months of confusion for users

 

 

 

SuperGroup gets a warm glow from cold snap

 

12 December 2012 11:14 PM

The chief executive of SuperGroup says the fashion retailer is "well-positioned" for the crucial Christmas trading period, having been boosted by the "helpful" recent cold weather.

 

 

 

Travis Perkins is held back by Wickes

 

12 December 2012 11:14 PM

Travis Perkins, the retail-to-building group, today laid bare the pressure on big-ticket spending by posting a slump in underlying sales at its DIY chain Wickes over the past 11 months.

 

 

 

Unilever chief gloomy on prospects for Europe

 

12 December 2012 11:14 PM

The boss of Unilever, maker of Hellmann's mayonnaise, today warned that Europe's economies face at least a decade of bumping along the bottom, and raised fears over the recovery in the United States.

 

 

 

Owner of Zara stores sews up a profits leap

 

12 December 2012 11:14 PM

The Spanish group behind the fashion giant Zara has grown its profits by more than a quarter, driven by a sharp uplift in sales from a rapid store opening programme.

 

 

 

Buffett's $1.2bn buyback

 

12 December 2012 11:14 PM

Warren Buffett's Berkshire Hathaway spent $1.2bn (£971.5m) today to buy back shares from the estate of an unnamed investor.

 

 

 

M&As nosedive since economic crisis

 

12 December 2012 11:14 PM

The value of mergers and acquisitions (M&A) deals completed in the UK has fallen by two-thirds since the start of the financial crisis, it has emerged.

 

 

 

ASA crackdown on Indian firm over misleading PPI claim texts

 

12 December 2012 11:14 PM

Claims-management companies which bombard people with payment protection insurance (PPI) and accident texts have been slammed by the Advertising Standards Authority (ASA).

 

 

 

China buys up BHP stakes in Australia

 

12 December 2012 11:14 PM

China yesterday stepped up its worldwide hunt for gas to keep its 1.3 billion population warm.

 

 

 

Darty boss is set to swing the axe

 

12 December 2012 11:14 PM

Alan Parker, the former Whitbread boss, is preparing to wield the axe at European electricals chain Darty, which he chairs.

 

 

 

Imagination's Chinese boost

 

12 December 2012 11:14 PM

Surging demand for cheap, low-end smartphones in China is driving growth at Imagination Technologies, the designer of chips and graphic processors in Apple's iPhone and iPad, which says it is also seeing signs of recovery in the West.

 

 

 

Puma chief is making tracks for the exit

 

12 December 2012 11:14 PM

The chief executive of Puma is to leave the German footwear giant, following a period of sustained underperformance, despite the Olympics and Euro 2012 football tournament.

[interestrateripoff]

Breaking news

 

• Exclusive - Barclays loses three top technology bankers: sources - Reuters
  

 

 

 

• UK credit rating threatened with S&P downgrade
   
  Standard & Poor's warns there is a one-in-three chance that it will strip the UK of its cherished AAA status within the next two years
  27 comments
  
  • OBR warns on reliability of borrowing forecasts
    
  • Manufacturers' order books bouncing back, says CBI
    

  [*] Eurozone moves a decisive step closer to banking union

   

  European leaders seal agreement to put the European Central Bank in supervisory authority over financial institutions in the single currency area

  4 comments

  • Eurozone crisis live: Thursday as it happened
    
  • Eurozone factory output continues to fall steeply
    
  • Eurozone crisis: Wednesday as it happened
    
  • Nils Pratley: Monti's success was only superficial
    
  • Unity of the European Union is about to be tested
    

  [*] HMV hit by poor Christmas trading

   

  Future of 238-strong chain under threat as loan terms unlikely to be met in January and April, chief executive says

  54 comments

  • Does HMV have a future on the high street?
    

  [*] Mike Ashley bonus scheme back on at Sport Direct

   

  Sportswear company said it 'remains committed to a scheme to recognise the ongoing substantial and essential contribution of Mike Ashley'

   

  • Ashley in House of Fraser sale talks
    
  • Freezing weather boosts de-icing firm Kilfrost
    
  • Zara owner continues China march as profits soar
    

 

 

• Flying has become safer than ever, says air transport group
   
  Air accident rate at record low, making 2012 safest year on record, says International Air Transport Association
   
  
  • Heathrow runway delay is hurting aviation industry, warns Iata chief
    

  [*] UBS latest bank to be hit with multimillion Libor fine

   

  Swiss bank prepares to pay a fine of around £630m for rigging Libor, a fresh embarrassment after the Kweku Adoboli trading scandal

   

  • Former FSA boss joins Barclays
    
  • Nils Pratley: Barclays gains more than Sants
    
  • Bleak day for British banking
    
  • JPMorgan chief not worried by energy trading ban
    

  [*] UK drops down EU living standards league table

   

  High inflation eroding spending power in Britain, Eurostat says, leaving the UK behind Germany, Austria - and Luxembourg

  154 comments

  • Unemployment falls as private sector jobs hit all-time high
    
  • Heather Stewart: This is the reality of flexible labour
    

  [*] More business news

  [*] Google Maps launches iPhone app after Apple veered off track

  259 comments

  [*] BG names Finlayson chief executive

  [*] Wonga tries longer loans

  53 comments

  [*] Oil demand to rise amid recovery

[interestrateripoff]

London smells victory in EU banking union deal

 

7:48pm GMT

 

Banking deal boosts EU leaders in fighting crisis

 

7:40pm GMT

 

Exclusive - Barclays loses three top technology bankers: sources

 

7:36pm GMT

 

S&P downgrades outlook for triple-A UK credit rating

 

7:31pm GMT

 

Yahoo nets PayPal co-founder in boardroom shake-up

 

7:20pm GMT

 

IMF chief says welcomes Europe banking deal

 

IMF 7:12pm GMT

 

Deutsche Bank says more charges to hit Q4 profits

 

7:05pm GMT

 

Britain lifts shale gas ban, imposes tighter rules

 

UK 6:34pm GMT

 

UBS faces $1 billion fine for Libor rigging - source

 

6:32pm GMT

 

BP must hire Louisiana firms to "make this right" - U.S. Senator Vitter

 

6:24pm GMT

 

EU ending 2012 in best shape in years

 

5:42pm GMT

 

Fiscal cliff fears bring end to year's best FTSE rally

 

FXpert 5:40pm GMT

 

European Parliament urges help for steel industry

 

5:35pm GMT

 

ECB shield helps Italy and Spain meet debt funding goal

 

Spain 5:30pm GMT

 

Italy doubles planned tax on share trading

 

5:30pm GMT

 

Four Deutsche Bank employees jailed on Thursday

 

5:10pm GMT

 

World airlines on track for safest year ever - IATA

 

Aerospace & Defence 5:04pm GMT

 

Osborne - dropping BoE inflation target requires big rewards

 

4:59pm GMT

 

No BoE plan for U.S.-style rate pledge - Fisher

 

4:59pm GMT

 

FTSE to break through 6,000 next year - Reuters poll

 

4:53pm GMT

 

Analysis - Apple's new iMac a turning point for hybrid drives

 

Consumer Electronics Show 4:42pm GMT

 

Comments from EU leaders' summit

 

David Cameron 4:39pm GMT

 

Europe's bank supervision deal raises firewall hopes

 

4:33pm GMT

 

Italy household wealth falling as economy shrinks - central bank

 

4:29pm GMT

 

FTSE to break through 6,000 next year

 

4:22pm GMT

 

Osborne - RBS break-up would be very complex, think twice

 

3:48pm GMT

 

Sainsbury expects "squeezed" Christmas trading

 

3:47pm GMT

 

UK retailer Topshop to open first store in China

 

3:45pm GMT

 

Euro zone support key for credible Greek program - IMF

 

IMF 3:41pm GMT

 

Airbus chief gambles on giving managers their wings

 

Aerospace & Defence 3:40pm GMT

 

Airbus confirms $9.4 billion AirAsia order

 

Aerospace & Defence 3:39pm GMT

 

HMV faces 12 critical days to avoid banking breach

 

UK 6:13pm GMT

 

Spain takes over eighth bank in clean-up programme

 

Spain 2:59pm GMT

 

EU makes progress on bank capital, curbing bonuses

 

2:34pm GMT

 

Greece gets new EU aid, declares "Grexit" era dead

 

2:07pm GMT

 

Renault's exit gives Volvo more freedom to restructure

 

2:00pm GMT

 

U.S. tycoon Ross targets more European bank deals

 

1:48pm GMT

 

BoE renews swap deals with other central banks

 

1:42pm GMT

 

Airbus confirms $9.4 billion AirAsia order

 

1:40pm GMT

 

Spain seizes assets owned by Egypt's Mubarak

 

Spain 1:28pm GMT

 

Ashley could reap $63 million from Sports Direct bonus

 

1:20pm GMT

 

Greece to pay outstanding bills to firms in 2013 - minister

 

1:09pm GMT

 

Irish inflation falls to two-year low

 

12:58pm GMT

 

EU's Barroso tells Berlusconi Italy needs stability, reform

 

12:46pm GMT

 

Goldman unit insures GM's UK pension fund

 

12:46pm GMT

 

Banker gets insider dealing jail sentence - FSA

 

12:33pm GMT

 

Thomson Reuters says has Libor all-clear, sees new role

 

12:29pm GMT

 

Europe deepens union with ECB as chief bank watchdog |

 

7:00pm GMT

 

Wilbur Ross: "No shortage of opportunities" in EU banking

 

12:28pm GMT

 

Italian parliament approves growth package

 

12:27pm GMT

 

Spain kicks off bank clean-up, takes over another lender

 

Spain 12:19pm GMT

 

Around 12 Spanish banks to come under ECB supervision - official

 

12:18pm GMT

 

EU close to deal on bank capital rules, curbing bonuses

 

4:43pm GMT

 

EU, IMF agree to lend Greece 49 billion euros by March

 

IMF 12:02pm GMT

 

Some banks could be recapitalised by ESM in 2013 - Schaeuble

 

11:53am GMT

 

Court rejects Ryanair appeal over Aer Lingus probe

 

11:44am GMT

 

Juncker: not sure Greece will need extra measures to meet debt goal

 

11:37am GMT

 

Amazon wins EU e-book pricing battle with Apple

 

11:33am GMT

 

Britain may cause EU "disintegration" - senior German lawmaker

 

David Cameron 11:28am GMT

 

Barclays may cut up to 2,000 investment banking jobs - WSJ

 

11:25am GMT

 

EU's Juncker: financial aid to flow to Greece next week

 

11:13am GMT

 

CBI factory orders above average in December

 

11:10am GMT

 

Italy vaults last 2012 funding hurdle

 

10:59am GMT

 

Spain sells two billion euros of bonds, yields mixed

 

Spain 10:49am GMT

 

ECB's Costa says banking union key for struggling countries

 

10:48am GMT

 

Britain may cause EU "disintegration" - senior German lawmaker

 

David Cameron 10:35am GMT

 

Spain says gets investors in bad bank without BBVA

 

10:30am GMT

 

BG names new CEO to run big growth projects

 

10:28am GMT

 

China regulator accuses Carrefour of price rigging - Xinhua

 

10:22am GMT

 

Denmark sees painful recovery as economy stalls

 

10:15am GMT

 

Little credit impact from Italy political storm-Moody's

 

9:53am GMT

 

Some hedge funds dump their bets against France

 

9:41am GMT

 

French finance minister: conditions in place for next aid payment to Greece

 

9:25am GMT

 

EU's Rehn: confident of finding way to support Greece

 

9:06am GMT

 

Merkel hails EU bank deal, says German goals met

 

9:01am GMT

 

Comments from euro zone finance ministers, officials

 

9:00am GMT

 

Merkel says Europe to emerge stronger from crisis

 

8:50am GMT

 

No Cyprus aid decision seen Thursday, maybe January - Juncker

 

8:22am GMT

 

BG names industry veteran Finlayson as CEO

 

7:59am GMT

 

Sports Direct profit lifted by sporting summer

 

7:31am GMT

 

Danone to cut costs to cope with European woes

 

7:22am GMT

 

Swiss government sees light at end of tunnel for economy

 

7:07am GMT

 

Global shares, oil fall on news about U.S. "fiscal cliff"

 

FXpert, 6:25pm GMT

 

Factbox: Europe agrees to make ECB chief euro zone watchdog for banks

 

5:08am GMT

 

BAE wins $400 million deal for U.S. Navy aircraft

 

5:05am GMT

 

European bank supervisory to be operational from March 2014

 

4:31am GMT

 

Cashed-up Chinese aircraft lessors spread their wings

 

Aerospace & Defence 4:31am GMT

 

Fed ties rates to jobs recovery, adds to stimulus

 

1:51am GMT

 

Walmart in talks to buy stake in Turkish retailer - FT

 

1:05am GMT

 

As global consumers shop mobile, Apple outshines rivals

 

12:36am GMT

 

Delta sees 2013 profit, to return cash to shareholders

[interestrateripoff]

Osborne downplays AAA rating as S&P gives UK negative outlook

 

Rating agency cuts Britain's economic outlook from stable to negative, hours after the Chancellor defended his Autumn Statement.

Comment

Debt crisis: As it happened - December 13, 2012

 

 

Osborne wins City safeguards as EU secures banking deal

 

 

Bank of England target could change

 

 

UBS close to $1bn Libor settlement - report

 

UBS is reportedly close to settling claims that its staff were involved in alleged attempts to manipulate Libor, and could face fines of more than $1bn (£620m).

13 Comments

 

HMV in fight for survival

 

The entertainment retailer HMV is fighting for survival after warning it is likely to breach banking covenants in January.

197 Comments

Damian Reece: Why HMV is a dodo company

 

 

HMV: how his master lost his voice

 

 

 

West Coast fiasco bill could grow, admits DfT

 

The cost to the taxpayer of the West Coast rail fiasco has risen by a further £6m to £55m, as the Department for Transport's most senior civil servant blamed the debacle on a lack of resources and a challenging timetable

55 Comments

 

Barclays could slash up to 2,000 jobs

 

Barclays could slash as many as 2,000 jobs from its investment banking arm as part of a broad restructuring of the company.

33 Comments

 

AirAsia boosts UK manufacturing

 

British manufacturing was given a boost after AirAsia placed an order for 100 Airbus aircraft, the wings for which will be made in the UK, safeguarding around 9,000 jobs.

7 Comments

Airline profits rise despite global turmoil

 

 

 

Mike Ashley admits House of Fraser interest

 

 

 

 

Guardian and Observer staff to vote on strike action

 

 

 

 

Osborne welcomes inflation target review

 

George Osborne has refused to rule out switching the Bank of England’s inflation target to a focus on economic growth as he called for a broad debate on the future of Britain’s monetary policy framework.

Comment

S&P threatens UK rating downgrade

 

 

 

 

False hope springs eternal in the eurozone

 

 

 

 

The Bank is in charge of money, politicians are in charge of growth

 

 

 

The Bank is in charge of money, politicians are in charge of growth

 

It’s time the Old Lady was given more obvious growth objectives

[interestrateripoff]

13 December 2012 Last updated at 18:01

 

 

Eurozone bank deal boosts summit

 

EU leaders go into a Brussels summit buoyed by a key deal on centralised supervision of eurozone banks, seen as a major integration step. 73

 

• Hewitt: Ever closer union
  
• Multi-speed Europe edges forward
  
• Q&A: Eurozone's banking union
  
• Peston: A union that works?
  
• Bailout cash for Greece approved
  

 

HMV warns over uncertain future

 

HMV warns that it faces an uncertain future in the face of continuing falling sales, and says it is in talks with its banks.

 

• What next for HMV? Listen
  
• HMV insiders mull retailer's prospects
  

 

 

S&P puts UK on 'negative outlook'

 

Standard & Poor's becomes the last of the three main rating agencies to put the UK's top AAA rating on "negative outlook".

 

• UK warned on debt 'credibility'
  

 

 

 

• Wimbledon reports record profit
   
  The Lawn Tennis Association says this year's Wimbledon Championships saw profits jump 7% to record levels.
  
• New nuclear plant design unveiled
   
  The design for the first nuclear power stations to be built in the UK for 25 years is granted approval by regulators.
  
• Government approves gas fracking
   
  The government gives the go-ahead for a firm to resume the controversial technique known as fracking to exploit gas in Lancashire. 347
  
• Queen questions financial crisis
  
• Osborne welcomes Bank role debate
  
• Europe ends probe over e-books
  
• Many mortgage borrowers 'overpay'
  
• Airline attacks Dreamliner faults
  
• UK 'nation of internet shoppers' 198
  
• Cameron hails Airbus jobs deal
  
• Building societies set to merge
  
• Welfare change timetable extended
  
• Bailout cash for Greece approved
  
• Sports Direct gets Olympics boost
  
• Eurozone banking union that works for Britain?
   
  11 hours ago
  The detail of last night's EU banking-union deal provides a possible answer to those who say a consequence of the eurozone doing what it needs to avoid fracture - to integrate politically in a deep sense - is that the UK will be propelled towards the EU's exit.
  
• Fed gives itself a new target
   
  6 hours ago
  The Federal Reserve has just given itself a new magic number: 6.5% - that is the level the US unemployment rate will have to fall to, before it will consider raising interest rates.
  

[interestrateripoff]

Drink Ingredient Gets a Look

 

By STEPHANIE STROM

 

 

Use of brominated vegetable oil in foods, like fruit-flavored sodas, has long been allowed by federal regulators, but consumers have raised new concerns about the ingredient.

 

 

 

James Edward Bates for The New York Times

 

Sarah Kavanagh, 15, of Hattiesburg, Miss., started an online petition asking PepsiCo to change Gatorade’s formula.

 

 

 

 

 

 

E.U. Leaders Hail Accord on Banking Supervision

 

By JAMES KANTER 13 minutes ago

 

The agreement on banking supervision would put between 100 and 200 major banks under the direct oversight of the European Central Bank.

 

• S.&P. Puts Britain on Ratings Watch 3:05 PM ET
  
• Post a Comment | Read (1)
  

 

DealBook

 

UBS Expected to Pay at Least $1 Billion in Rate-Rigging Case

 

By MARK SCOTT and BEN PROTESS 1:46 PM ET

 

The Swiss financial giant UBS is close to finalizing a settlement with authorities over the manipulation of interest rates, a deal that is expected to include at least $1 billion in fines.

 

U.S. Rejects Telecommunications Treaty

 

By ERIC PFANNER 53 minutes ago

 

In a moment of high drama, the U.S. said it would not go along after a majority of nations approved a document mentioning the Internet.

 

DealBook

 

Yahoo Is Said to Plan Board Shake-Up

 

By MICHAEL J. DE LA MERCED 33 minutes ago

 

Yahoo says two directors will be leaving the board, while Max Levchin, a former senior executive at PayPal, will be joining it.

 

China Pushes Deposit Insurance in Bank Overhaul

 

By KEITH BRADSHER 10:27 AM ET

 

China’s new leadership is preparing to introduce bank deposit insurance as the first step in financial reforms to be started at a top-level meeting in the coming days in Beijing.

 

DealBook

 

Sprint Offers to Buy Remaining Stake in Clearwire for $2.1 Billion

 

By DEALBOOK 9:26 AM ET

 

Sprint Nextel on Thursday offered about $2.1 billion for the portion of Clearwire it did not already own, moving to secure access to a big chunk of spectrum.

 

Britain Approves Fracking for Shale Gas Exploration

 

By STANLEY REED 13 minutes ago

 

The decision, which imposes stringent controls, potentially opens the way for the development of a shale gas industry in Western Europe.

 

Deposit-Insurance Bill Dies in Senate

 

By THE ASSOCIATED PRESS 33 minutes ago

 

A federal program giving insurance guarantees to certain bank accounts, enacted at the height of the financial meltdown, will die out at the end of the year following the defeat.

 

Wheels Blog

 

General Motors Refreshes Its Top-Selling Trucks

 

By PAUL STENQUIST 9:30 AM ET

 

The big changes are under the hood, where three significantly revised EcoTec3 engines - a 4.3-liter V-6, a 5.3-liter V-8 and a 6.2-liter V-8 - are offered.

 

City Room

 

Coming to a Curb Near You: Yellow Cabs Summoned With Smartphones

 

By MATT FLEGENHEIMER

 

The Taxi and Limousine Commission voted to allow a one-year trial using smartphone apps, starting in February, after a proposal for a permanent rule change appeared to lack support.

 

 

 

• In Europe, Publishers Dealt a Setback Over e-Book Pricing 10 minutes ago
  
• Despite Overhaul, New Jersey Pension Plan Said to Be in Deep Trouble 12:59 PM ET
  
• Retail Sales Rebound; Jobless Claims Fall Sharply 1:23 PM ET
  
• Stocks Slip While Awaiting Washington
  
• In Fiscal Talks, a Gruff Voice From the Left
   
  By SHERYL GAY STOLBERG 1:32 PM ET
   
  Senator Bernard Sanders of Vermont is carving out a place for himself as the antithesis of the Tea Party and fighting against a deal that cuts entitlement programs.
  
• Latest Updates on the Fiscal Talks »