The great interest rate rip off part 1

[The abused]

Yes should see the gdm's pump more printed money into the economy. The dollar will fall further but the price of gold will rise even more.

Thats why if you look on the net there are so many properties with almost 30% off. judging by the clip they need to cut it it by 50%. This is going to end in a big downhill spiral and of course if America sneezes we over here catch a cold.

Sheer greed caused by US banks!

[interestrateripoff]

G20 inks economic pact, strikes IMF reform deal

 

GYEONGJU, South Korea (Reuters) - Group of 20 finance leaders struck a deal on Saturday to refrain from competitive currency devaluations although they failed to agree firmer language that might have shored up the U.S. dollar. | Video

Continue Reading

 

 

 

Stocks, dollar zig-zag as G20 seeks new policies

 

NEW YORK (Reuters) - World stocks and the U.S. dollar see-sawed on Friday as finance and central bank chiefs from the Group of 20 leading economies struggled to manage currency and trade imbalances, leaving investors to navigate choppy markets

G20 22 Oct 2010

 

Greece to meet deficit goal, no need for loan extension

 

ATHENS (Reuters) - Greece will meet its target to cut its budget deficit to 7.6 percent next year and will not need to extend the repayment of a multibillion EU/IMF loan, its finance minister told a Greek newspaper published on Saturday.

9:47am BST

 

Unions plan "biggest ever" demo against cuts

 

LONDON (Reuters) - The Trades Union Congress, the country's union umbrella body, said on Saturday it will stage the "biggest and boldest" demonstration in its history next March to protest against the government's spending cuts.

UK 7:30am BST

 

BSkyB nears customer goal, ups pressure on Murdoch

 

LONDON (Reuters) - Dominant pay-TV group BSkyB attracted more customers than expected and sold a record number of services in the first quarter, boosting profits and raising the pressure on News Corp to up its bid.

UK 22 Oct 2010

 

Financier Hands spars with Citi lawyer in U.S. court

 

NEW YORK (Reuters) - Financier Guy Hands, who accuses a onetime friend at Citigroup Inc of lying to him about bids for EMI music company, sparred in court on Friday under cross-examination about why he did not call the banker to clear the air.

22 Oct 2010

 

Nestle keeps strong pace of growth with price hikes

 

ZURICH (Reuters) - Nestle , the world's biggest food group, beat forecasts with a 5.7 percent rise in nine-month underlying sales thanks to strong demand in emerging markets, price rises and a thriving Nespresso coffee business. | Video

22 Oct 2010

 

Genzyme makes case for demanding higher Sanofi bid

 

NEW YORK (Reuters) - Genzyme Corp made its case for why it is worth more than the $18.5 billion (11.8 billion pounds) offered by France's Sanofi-Aventis, forecasting 2011 profit well above Wall Street estimates and annual sales of nearly $3 billion for its experimental multiple sclerosis drug.

22 Oct 2010

 

Canada promises "own analysis" on BHP-Potash bid

 

TORONTO (Reuters) - Canada will decide whether it will allow BHP Billiton's $39 billion (25 billion pound) takeover bid for Potash Corp to proceed based on its own analysis, the industry minister said on Friday, a day after the province of Saskatchewan demanded that Ottawa scupper the deal.

22 Oct 2010

 

Caterpillar buys 3i's engine maker MWM for $810 million

 

LONDON (Reuters) - Caterpillar Inc agreed to buy MWM Holding GmbH, the German maker of gas and diesel engines, from British private equity firm 3i Group Plc for about 580 million euros (517 million pounds) in cash.

[interestrateripoff]

Breaking news

 

• 
  
• China urges big states to take responsible policies - Reuters
  
• China to examine, may appeal WTO ruling on U.S. duties case - Reuters
  
• CORRECTED-Too big to fail banks to be determined in mid-2011 - D - Reuters
  
• TEXT - U.S. Treasury Secretary Geithner G20 press remarks - Reuters
  
• Emerging economies gain clout as IMF doubles quotas - Reuters
  
• Greece to meet deficit goal, no need for loan extension-finm - Reuters
  
• Germany says U.S. monetary easing policy is wrong - Reuters
  
• ECB Noyer: G20 deal aims to stabilise main currencies - Reuters
  

 

 

 

• US Treasury secretary intensifies trade row with China
   
  Timothy Geithner calls for cap on trade surpluses before G20 meeting in thinly veiled attack on Beijing
  
• Spending cuts will not derail recovery, says Andrew Sentance
   
  Bank of England policymaker argues private sector will drive growth
  29 comments
  
  • Paul Krugman condemns coalition's spending review austerity as a 'fad'
    
  • CBI chief confident cuts won't start a double dip
    
  • Green 'stealth tax' attacked by business groups
    
  • IFS: Cuts will hit poor hardest, says IFS
    
  • Osborne gambles with the economy
    
  • Video: Larry Elliott on the CSR
    
  • Bank's MPC split three ways on recovery
    
  • Will spending cuts lead to recession?
    
  • UK public finances post record deficit
    

  [*] BSkyB spends £2m on News Corp bid

   

  UK satellite TV group reveals outlay on 'advisory fees', as it beats forecasts for number of new subscribers

  21 comments

  • Murdoch applauds coalition's 'tough' spending cuts
    
  • Rupert Murdoch hits back at opponents of News Corp bid
    

  [*] Divided G20 poses threat to banking reform, Osborne warned

   

  Marcus Agius, chairman of British Bankers' Association, tells chancellor reforms are at risk if they are introduced at different speeds by G20 nations

   

  • Chancellor accused of 'going soft' on banks
    
  • Levy to raise £2.5bn a year but biggest may gain
    
  • Nils Pratley: The banks have won after all
    
  • The minister's statement in full (pdf)
    
  • Banks cheer Osborne's bid to keep banks in UK
    
  • Business lending positive for first time in six months
    
  • Bank levy: what the experts say
    
  • Poll: has the government let the banks off too lightly?
    

 

 

• Clouds over the housing market create a perfect storm for first-time buyers
   
  Low levels of lending amid fears of a double-dip recession leave young people unable to buy
  
• Former boss of City firm PWS admits paying bribes for contracts
   
  Julian Messent, former CEO of Lord Pearson's PWS insurance, pleaded guilty to funnelling payments of £1.2m to officials in Costa Rica
  4 comments
  
• Betfair buoyant on float success
   
  Shares in the internet betting exchange were priced at £13 each and in conditional dealings these have soared to £15.24, a 17% premium to the offer price
  2 comments
  
• Oil could hit $100 a barrel soon, JP Morgan predicts
   
  Chinese demand, restocking of French oil inventories and weaker dollar will all push up the price of crude, bank analysts suggest
   
  
  • China's economy slows in Q3
    
  • China rate rise: Q&A
    
  • Chinese interest rate rise: what the analysts say
    

  [*] More business news

  [*] Vodafone hit by £1.6bn back-tax bill

  [*] Reckitt finance boss to leave after adding to non-executive interests

  [*] Ferrovial puts 10% of BAA up for sale

  [*] Can Hilary Devey drive a truck? Interview with Pall-Ex founder

[interestrateripoff]

http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/telecoms/8082080/BT-ruling-could-open-pension-claim-floodgates.html

 

Taxpayers could be on the hook for tens of billions of pounds to cover a string of privatised companies' pension schemes after the precedent set by BT's landmark "crown guarantee" victory.

 

A former senior lawyer at the Pensions Regulator told The Daily Telegraph that "there are a good number of [pension] schemes that have promises from the state that could be crown guarantees".

 

Clive Pugh, formerly trustee services manager at the Pensions Regulator and now a partner at Burges Salmon law practice, said he expected a "flood" of claims for recognition of government protection from other formerly state-owned companies.

 

"With this [the High Court's ruling upholding BT's crown guarantee on Thursday] and many other potential crown guarantees being clarified, it seems as though the Government is now subject to billions of pounds of potential liabilities just as it is trying to reduce its deficit," he added.

 

Mr Pugh said other privatised companies have been closely watching BT's battle with the Government over the guarantee, over the guarantee which will force the state to cover retirement scheme deficits in the event of insolvency.

 

He added they are likely to bring similar claims if the telecoms group emerges victorious from an expected appeal. "I would be very, very surprised if there are not follow-up court cases," Mr Pugh said.

 

It means the taxpayer could, theoretically, be forced to pay out up to £100bn to cover pension liabilities in the unlikely event that several of the companies grant guarantees go bust.

 

The High Court ruling on BT's crown guarantee means the taxpayer must ensure the pensions of almost all the 344,000 members of BT's pension scheme. A payout in the event that BT goes bust could be as much as £22.8bn.

 

However, Mr Pugh cautioned that other privatised companies are unlikely to have as strong a case for state protection as BT. It is understood BT's case hung on the interpretation of two sentences among reams of legal documents written when BT was privatised in 1984.

 

It is difficult to discover which companies have a strong case as the information is only readily available to the pension schemes' trustees. However, John Ralfe, an independent pensions expert, said Railway Pensions, the scheme for rail industry employees, UK Coal and Trinity House, which runs the UK's lighthouses, are thought to have the best cases for claims. Others mentioned include British Gas and National Grid.

 

A spokesman for the Pensions Regulator confirmed some other companies do have crown guarantees, but refused to name them,

 

Ros Altmann, a former government pensions adviser, said the taxpayer could be left with a "terrible burden".

 

"If BT wins [the expected appeal], other companies could certainly challenge their case in court," she said. "It could all get quite messy.

 

"This could be a huge blow for the taxpayer. We are saving £5bn a year on the state pension, yet at the same time the state could be made responsible for billions [of private sector pensions]. The poor taxpayer is suffering from the inability of politicians and policy-makers to understands the long-term financial realities of pensions."

 

Interesting numbers so the Chancellor annouces £80bn of cuts and just a few days later the taxpayer potentially is on the hook for around £100bn of new liabilities.

 

Excellent.

 

Still I'm sure the govt had all of these figures factored into it's savings...

 

Praise be to Thatcher what an excellent job she did in privatizing our national industries....

 

All of the short termism of our past political leaders appear to be forming the perfect storm of all bubbling to the surface at once. No one has the money to cover the liabilities due.

 

Are these pensions indexed linked to inflation?

[interestrateripoff]

[/url]

 

BT pension ruling could open £100bn floodgates

 

Taxpayers could be on the hook for tens of billions of pounds to cover a string of privatised companies' pension schemes, after BT's landmark victory.

 

G20 battles to find common ground on currency war

 

Finance ministers struggle to agree on how to prevent a currency war, with US changing tack to focus on global trade.

FTSE 100 shares hit by profit-taking on G20 anxieties

 

 

The G20 is a complete waste of space

 

 

 

Bankers 'caused credit crisis for kicks'

 

Forget the thorny problems of risk, regulation and even reward: bankers blew up the financial system for the thrill of it, says a British academic.

 

Tesco slices Hovis after fallout over wheat price

 

 

 

 

Ferrovial puts 10pc of UK airport owner BAA up for sale

 

 

 

 

Vodafone must pay £1.6bn tax bill within 30 days

 

 

 

 

North Sea cavern could double UK gas stockpiles

 

 

 

 

Theft ring hits gold production at African Barrick

 

 

 

 

Reckitt hit as finance chief quits during £2.5bn acquisition

 

 

• Betfair gets off to a flyer, though the race is only half run
  

 

• Why government bonds have become the latest mad, bad asset bubble
  

 

 

• Manhattan-on-Thames: can London defy falling house prices?
  

 

Is austerity the mother of creativity?

 

 

 

Shock fall in UK retail sales as shoppers rein in spending

 

 

 

 

Which is creepier: Osborne's lack of conviction or Cameron's passion?

 

 

 

 

IFS accuses George Osborne of muddling welfare reform

 

 

 

 

Banks increase lending to UK business

[interestrateripoff]

Plunging Mortgage Refinancing Rates Aid Thrifty

 

By DAVID STREITFELD

 

 

The frugal are qualifying for refinanced mortgages at interest rates that in any other recent era would have been considered stealing.

 

• Post a Comment | Read (35)
  

 

 

 

Christopher Capozziello for The New York Times

 

Michelle Smedley and Wilner Samson refinanced their home in West Hartford, Conn., saving $300 a month.

 

 

 

 

 

 

G-20 Vows to Avoid Currency War and to Share I.M.F. Power

 

By SEWELL CHAN 1 minute ago

 

Officials from the world’s 20 biggest economies promised Saturday to refrain from a currency war and to give emerging economies more say at the International Monetary Fund.

 

Nations Agree on Need to Shrink Trade Imbalances

 

By SEWELL CHAN

 

The agreement is part of an American-brokered compromise on calming exchange-rate tensions.

 

• W.T.O. Rejects Chinese Claims on Duties
  

 

Tribune Chief Accepts Advice and Backs Out

 

By DAVID CARR and TIM ARANGO

 

Sam Zell personally urged the controversial chief executive to step down after he became a dark sideshow.

 

NPR Defends Firing Williams as Criticism Mounts

 

By BRIAN STELTER and ELIZABETH JENSEN

 

The public radio organization has come under severe criticism for firing Juan Williams, and some conservatives have tried to resurrect their war against public broadcasting.

 

• Media Decoder Blog: NPR’s Schiller Says Juan Williams Was Fired Because of Ethics Guidelines
  

 

U.S. Prevails in Trade Dispute With China

 

By SEWELL CHAN

 

A World Trade Organization panel largely upheld tariffs imposed on Chinese-made steel pipes, tires and other products during the Bush administration.

 

A World Upside Down for Greeks

 

By NIKI KITSANTONIS

 

Small businesses are closing one after another as Greek measures to combat the financial crisis have sliced profit margins and damped consumer demand.

 

U.S. Drops Criminal Charges Against UBS

 

By LYNNLEY BROWNING

 

American prosecutors said they were satisfied that the Swiss bank had stopped selling offshore private banking services that allowed the wealthy to avoid taxes.

 

Verizon Profit Falls as Customer Growth Slows

 

By JENNA WORTHAM

 

The company cited pension settlements resulting from layoffs and voluntary separations for the drop.

 

Media Decoder Blog

 

F.C.C. Weighs In on Cable Dispute

 

By BRIAN STELTER and BILL CARTER

 

The Federal Communications Commission tells Cablevision and News Corporation that they have an obligation to negotiate in "good faith."

 

 

 

• Ericsson Cautious on Recovery Despite Profit
  
• Neiman Marcus to Open New Bargain Outlets
  
• Marketers Can Glean Private Data on Facebook
  
• Canadian Oil Company Fined for Duck Deaths
  
• Fast-Food Employees Reject Union Effort in a Narrow Vote
  
• Stocks Trade in Narrow Range as Currency Concerns Hang Over Market
  

[interestrateripoff]

Breaking news

 

• 
  
• Banco Popolare launches 2 bln euro cap increase - Reuters
  
• Germany agrees tax reform plan, with relief from 2012 - Reuters
  
• 'Paranormal 2' leads North American box office - Reuters
  
• Germany agrees tax reform plan, with relief from 2012 - Reuters
  
• Singapore Exchange may offer $8.3 bln for ASX-source - Reuters
  
• German FinMin back after 3 weeks in hospital - Reuters
  
• India FinMin: Inflation may have hit plateau - Reuters
  
• Middle East recovery robust, closer eye on prices-IMF - Reuters
  

 

 

 

• US targets four British building societies for 'supermutual'
   
  JC Flowers focuses on four mutuals with more than 1.7m members for consolidation in 'fragmented industry'
  
• Spending cuts will make north-south divide worse, warns thinktank
   
  IPPR identifies disproportionate impact on north at a time when major capital projects go ahead in south
  16 comments
  
  • Paul Krugman condemns cuts as 'fad'
    
  • CBI chief confident cuts won't start a double dip
    
  • Cuts will hit poor hardest, says IFS
    

  [*] Rail fares to rise by 11% on some routes

   

  Government to reinstate a provision allowing rail companies to average out fare hikes instead of applying uniform price increases

  1 comment

  [*] Cable sets out banking vision

   

  Business secretary says trading insults is 'sterile' as he launches review aimed at City's short-termism

  [*] Greek PM makes pre-election pledges

   

  George Papandreou seeks to lift nation's mood with promise of bonuses and investment in energy

  Post your comment

  [*] Government becomes investment banks' second-largest customer

   

  Advice on bond sales makes Treasury one of the new darlings of the investment banking industry

  24 comments

  [*] US catfish industry launches TV ad

   

  A campaign is demonising catfish from China and Vietnam, claimed to be tainted with pollutants

  Post your comment

 

 

• China 'committed' to letting currency rise, says US
   
  US treasury secretary Timothy Geithner is attending talks to defuse rising tensions
  
• Co-operative Group considers sale of life assurance business
   
  Co-op appoints Deutsche Bank as advisor on review of insurance arm with policies worth around £18bn
  2 comments
  
• Shopping centre opens in City of London
   
  Bankers, City of London residents and tourists are to benefit from a new retail centre in the Square Mile
  
• LVMH bags 17% stake in Hermès
   
  Luxury goods empire insists £1.29bn purchase is not a prelude to a takeover bid
  
• Blacks Leisure stakes future on takeover
   
  Private equity funds circle Blacks after it confirms early talks on a possible offer
  
• More business news
  
• Oil could hit $100 a barrel soon
  
• Betfair buoyant on float success
  3 comments
  
• Power Snooker launch will be at O2 arena
  

[interestrateripoff]

Mitsui eyes stake in mining giant

 

 

Metalloinvest, run by Arsenal FC's billionaire shareholder Alisher Usmanov, is in talks to sell a stake in the mining giant to Japan's Mitsui ahead of a London listing next year.

 

 

• Lord Browne made chairman of Stanhope advisory board
  
• ITV close to deal that will shift shows to Salford
  
• Cuts threaten a double-dip recession for construction
  
• Surprise Guest: Cameron to speak to CBI conference tomorrow
  
• Engineering giants vie for $11bn contract to build UAE railway
  
• Business celebrities sell their brains for charity
  
• Airport bottle-scanner approved
  

 

Hamish McRae: What happened in the Eighties shows the cuts were right and we will recover

 

 

It has been, for obvious reasons, a troubling week, and that is true whatever your judgement on the need for and impact of the spending cuts. So it is perhaps helpful to step back and put a bit of perspective on all this.

 

 

• Margareta Pagano: If Osborne is clever, he'll spread a little sunshine
  
• George Freeman: Coalition must play to our great strengths
  
• Vodafone given 30 days to pay £1.6bn Indian tax demand
  
• Stephen Foley: Why the courts should remember the first rule of business: a deal is a deal
  
• Stephen Foley: Forget the laughs, just put it right
  

 

It's food, drink and 'cleantech' that will get the UK back to work

 

 

Within hours of the Chancellor, George Osborne, announcing some of the largest spending cuts and job losses since the Second World War, two leading forecasters said he had got his numbers wrong.

 

 

• Corporate world angry over plans to create a new super-watchdog
  
• Banana Republic bends Britain to its will
  
• The business on...Andrew Sentance, Economist
  
• So, are we really all in this together?
  
• The Business On: Ray Ozzie, Chief software architect, Microsoft
  

[interestrateripoff]

Cuts could cost billions for voluntary sector

 

 

Government spending cuts could cost voluntary organisations billions of pounds, it was claimed today.

 

• Services under threat: Longer waits for cancer tests – and firefighters
  
• A tale of two towns: We're all in this together... Oh, really?
  
• Danny Alexander: We did the right thing, says defensive axeman
  

 

Britain to look again at takeover "short-termism"

 

LONDON (Reuters) - Britain will look again into the issue of investor "short-termism" with a view to curbing the behaviour seen by some as damaging to companies in takeover battles, Business Secretary Vince Cable said on Sunday.

Continue Reading

 

 

 

Singapore Exchange may offer £5.3 billion for ASX - source

 

SINGAPORE (Reuters) - Singapore Exchange is likely to offer as much as A$8.4 billion (5.3 billion pounds) for Australian bourse operator ASX Ltd, a source said, a move which could mark Asia-Pacific's first major consolidation of exchanges.

6:30pm BST

 

Fiat would perform better without Italy - CEO

 

MILAN (Reuters) - Italian carmaker Fiat would perform better without its loss-making Italian plants, Chief Executive Officer Sergio Marchionne told an Italian TV show on Sunday according to Italian news agency ANSA.

6:21pm BST

 

EU leaders to back diluted budget rules reform

 

BRUSSELS (Reuters) - European Union leaders will back next week a reform of EU budget rules which introduces new sanctions for rule-breakers but retains political discretion over the process, draft conclusions of the EU summit showed.

23 Oct 2010

 

G20 inks pact to avert trade war

 

GYEONGJU, South Korea (Reuters) - The Group of 20 major economies agreed Saturday to shun competitive currency devaluations but stopped short of setting targets to reduce trade imbalances that are clouding global growth prospects. | Video

G20 6:54am BST

 

Cooperative mulls life unit disposal

 

LONDON (Reuters) - Britain's Cooperative Group could offload its life insurance arm as it reorganises its financial services division following last year's merger with Britannia, a source familiar with the situation said on Sunday.

2:31pm BST

 

Geithner says China engaged on forex-report

 

GYEONGJU, South Korea (Reuters) - U.S. Treasury Secretary Timothy Geithner said China will continue to move towards exchange rate flexibility and is now actively engaged on global foreign exchange issues.

G20 1:12pm BST

 

JC Flowers mulls building society bids: report

 

LONDON (Reuters) - U.S. buyout firm JC Flowers could bid for four British customer-owned mortgage lenders as part of a plan to create a new "supermutual" that could be partly listed in London, the Observer newspaper reported Sunday.

2:42pm BST

 

Regulators need to promote bank competition - ICB

 

LONDON (Reuters) - Promoting competition should be a priority for a new regulatory framework in Britain, the panel tasked with assessing whether banks should be broken up or the industry reshaped has said.

UK, 23 Oct 2010

 

Former Dubai bank executives face heavier penalty

 

DUBAI (Reuters) - A Dubai court restarted a fraud trial against two former executives of Dubai Islamic Bank (DIB) on Sunday having changed their status to government officials, making a stricter punishment more likely.

[interestrateripoff]

24 October 2010 Last updated at 19:27

 

Charities chief warns over cuts

 

The government's spending cuts could cost voluntary organisations billions of pounds, the charities' regulator in England and Wales warns.

 

• Nobel laureate criticises Osborne
  
• Spending Review: Key points
  
• Spending Review: What it means
  
• Making sense of the figures
  

 

League approves Portsmouth sale

 

Portsmouth are sold to Balram Chainrai, Levi Kushnir and Deepak Chainrai after a deal is struck to allow the club to exit administration. Sport

 

• Hull 1-2 Portsmouth Sport
  

 

 

US finance chief 'upbeat on yuan'

 

US Treasury Secretary Timothy Geithner says he believes China is now "committed" to allowing the yuan to go up in value.

 

 

 

• Ocado expanding to the South West
   
  Ocado to start delivering to homes in the south west of England and south Wales from March of next year.
  
• Lloyds shareholders hold meeting
   
  Lloyds Banking Group shareholders who lost money after the former Lloyds TSB bought Halifax Bank of Scotland have held a protest meeting.
  
• G20 summit agrees to reform IMF
   
  Finance minister from the G20 leading economies agree reforms of the International Monetary Fund, to give major developing nations more of a say.
  
• 5,000 hit by fraud on loan firm
  
• BA to reinstate some crew perks
  
• Vodafone in $2.5bn India tax bill
  
• Clegg on the offensive over cuts
  
• Cuba details self-employed taxes
  
• Ferrovial to sell 10% BAA stake
  
• BSkyB sees rapid customer pick-up
  
• Reclaim phone money, Ofcom says
  
• L&G rushes out data after blunder
  
• Union fury at 'get on bus' remark
  

 

 

• The outsiders
   
  Why the Murdochs are furious about the BBC settlement
  
• The sack: Lessons for government
  
• Defence spending
  

[interestrateripoff]

[/url]

 

Vince Cable in push for 'Cadbury law'

 

The Government is to launch a major inquiry into "short-termism" and shareholder behaviour in the City.

Why we must back UK plc

 

 

David Cameron: Government will support new young companies against Goliaths

 

 

UK will be in big trouble if the private sector can't grow

 

 

City fears new Bank of England powers will hit democracy

 

 

 

Pound forecast to tumble on 'insane' spending cuts

 

The pound is set to tumble, a leading currency trader has predicted, because of "absolutely insane" spending cuts.

 

G20 reaches agreement and vows to avoid currency war

 

G20 finance ministers promise to refrain from “competitive devaluation” of their currencies, heading off the prospect of a currency war.

 

Centrica set to shelve gas storage plans

 

 

 

 

LVMH closes in on 17pc stake in Hermes

 

 

 

 

Bankers 'caused credit crisis for kicks'

 

 

 

 

Think Tank: Your brand is your best worker

 

 

 

 

Sainsbury's will pay farmers millions to improve supply

 

 

• Rebuilding Confidence: it's time to embark on growth
  

 

• Coalition claims of 'pulling UK back from the brink' are nonsense
  

 

 

• It's every nation for itself in the devaluation race
  

 

 

• Takeover Code changes: the right price is now only the start
  

 

Cost of EU agencies triples to more than £2 billion

 

 

 

Spending cuts will ‘harm charities and undermine Big Society’

 

 

 

 

David Cameron: Government will support new young companies against Goliaths

 

 

 

 

UK will be in big trouble if the private sector can't grow

 

 

 

 

Week Ahead: latest UK growth figures, Shell results

[interestrateripoff]

Should BP’s Money Go Where the Oil Didn’t?

 

By DAVID SEGAL

 

 

Oil from the BP spill never came close to most of Florida’s beaches, but tourists seemed to be scared off anyway. Businesses and want restitution for lost revenue.

 

• .refer .inlinePlayer .refer { font-size: 1em; } Weekend Business: David Segal on damage claims in the BP oil spill
   
  
• Post a Comment | Read (49)
  

 

 

 

Michael C. Weimar for The New York Times

 

The TradeWinds Resort in St. Pete Beach, Fla., was not hit by the oil spill that began in April, but it may be among the collateral damage: occupancy rates sank, and the hotel cut prices.

 

 

 

 

 

 

G-20 Vows to Avoid a Currency War

 

By SEWELL CHAN

 

Officials from the world’s 20 biggest economies promised to refrain from a currency war and to give emerging economies more say.

 

With Kinect, Microsoft Aims for a Game Changer

 

By ASHLEE VANCE

 

The Kinect lets players control games with their bodies and speech. Will it be the hit product Microsoft wants?

 

Ping

 

Turning Customers Into Creators

 

By JENNA WORTHAM

 

PlumWillow, a shopping Web site for teenage girls, has enlisted a team of 15- and 16-year-old interns to make sure the experience is authentic.

 

Scene Stealer

 

When Hollywood Gives Hope to Main St.

 

By MICHAEL CIEPLY

 

In the past, movies helped the country get in gear with a spirit of resolve and renewal. But the twists and turns of this recession have left filmmakers at something of a loss.

 

Strategies

 

Raising Sails for the Fed’s Gales

 

By JEFF SOMMER

 

The gloomy economic news continues to flow, but many investors are finding solace in the Wall Street adage: “Don’t fight the Fed.”

 

Novelties

 

Bicycles, Unchained and Grease-Free

 

By ANNE EISENBERG

 

Companies are developing new designs and materials to replace bicycle chains with grease-free alternatives like polymer cables or carbon-toughened belts.

 

 

 

• Japan Calls on China to Resume Rare Earth Exports 11:50 AM ET
  
• Marketing: I’m Too Sporty for My Freeway
  
• Candidates Running Against, and With, Cable News
  
• Times Photographer Wounded by an Afghan Mine
  
• In the Region | Connecticut: Connecticut Home Builders Promote Energy Savings
  

[interestrateripoff]

Breaking news

 

• 
  
• GDF, Areva in talks on nuclear cooperation - paper - Reuters
  
• U.S. sells debt with a negative yield for 1st time - Reuters
  
• Dollar woes return as Fed trumps G20 - Reuters
  
• Foster Wheeler CEO out after 5 months; shares drop - Reuters
  
• Foster Wheeler CEO out after 5 months; shares drop - Reuters
  
• US STOCKS-Wall St buoyed by weak dollar, Fed hopes - Reuters
  
• WiMAX chipmaker Sequans eyes New York IPO-sources - Reuters
  
• UPDATE 1-Big gains in US business borrowing -ELFA - Reuters
  

 

 

 

• M&S chief says consumers will cope with public spending cuts
   
  UK retail sales have fallen for the last two months, fuelling fears that the economic recovery is running out of steam
  5 comments
  
• BP 'won't quit America', despite Gulf spill
   
  BP is rebuilding US trust after oil spill, its chief executive Bob Dudley tells Confederation of British Industry annual conference
  29 comments
  
  • BP sells four Gulf of Mexico oil fields
    

  [*] PM tries to reassure business over immigration cap

   

  Prime minister tells CBI government will adopt a flexible approach that will not impeded them from attracting the 'best talent from around the world'

  171 comments

  • Cameron, Miliband and Cable at the CBI – live
    
  • Larry Elliott: Review is a history lesson in economics
    
  • Consumers expect falls in living standards
    
  • IPPR: Cuts will make north-south divide worse
    
  • CBI chief confident cuts won't start a double dip
    

  [*] Vince Cable puts pay and takeovers at centre of City review

   

  Spiralling pay and destructive takeovers are at the heart of an investigation into the way the City operates

  19 comments

  • Cable sets out banking vision
    
  • Government is banks' second-largest customer
    
  • Editorial: The City needs regime change
    

  [*] Singapore bourse makes $8.3bn offer for Australian stock exchange

   

  The combined exchange company would be the world's fifth-largest by market value and rank as the second-largest stock market in Asia

  [*] Business travel lifts InterContinental

   

  CEO Andrew Coslett says investing in InterContinental Hotels brands during the downturn is 'really paying off'

  Post your comment

 

 

• 'Cheesegrater' project revived as London office market recovers
   
  British Land has teamed up with Canada's Oxford Properties to build the 47-storey Leadenhall Building, nicknamed the Cheesegrater because of its wedge-shaped profile
  81 comments
  
  • Shopping centre opens in City of London
    
  • In pictures: London's rising skyline
    
  • Do you approve of the City's changing skyline?
    

  [*] Stock markets rally after G20 accord

   

  Shares rallied this morning after finance ministers from the G20 nations vowed to avert a currency war

  9 comments

  • China 'committed' to letting currency rise, says US
    

  [*] KPMG faces scrutiny over BAE covert payments

   

  Inquiry by accountancy regulator will focus on offshore front companies used by BAE Systems to channel payments to foreign governments

  [*] Pearson raises full-year earnings forecast

   

  Publisher reports growth in digital sector, sustained boost in advertising at Financial Times and rising ebook sales

  8 comments

  [*] More business news

  [*] Rail fares to rise by 11% on some routes

  23 comments

  [*] Mortgage lending hits a 10-year low

  18 comments

  [*] Royal Mail faces new strike threat

[interestrateripoff]

FTSE ends higher as miners advance

 

LONDON (Reuters) - The top shares ended higher on Monday, supported by strength in miners as metals and crude prices rose amid a weaker dollar after G20 finance ministers agreed to avoid competitive currency devaluations. | Video

Continue Reading

 

 

 

Basel III no anti-crisis silver bullet - Bank's King

 

LONDON (Reuters) - Stricter capital rules set out under the Basel III framework are not enough on their own to prevent another banking crisis and more action is needed, Bank of England Governor Mervyn King said on Monday.

8:06pm BST

 

Cameron urges business and banks to drive recovery

 

LONDON (Reuters) - Britain's coalition government on Monday urged companies to plough more money into investment and again said banks should provide the fuel for a private sector-led recovery as huge government spending cuts kick in.

David Cameron, 5:18pm BST

 

Bank's Tucker: economy not ready for tighter policy

 

LONDON (Reuters) - Bank of England Deputy Governor Paul Tucker said Monday the British economy was not yet ready to cope with tighter monetary policy.

1:58pm BST

 

Bank levy should be temporary - RBS CEO

 

AMSTERDAM (Reuters) - A new levy on British banks, set to raise 2.5 billion pounds a year, should be a temporary measure until banks no longer depend on state aid, Royal Bank of Scotland's chief executive said Monday.

4:44pm BST

 

Bank industry shake-up seen ahead - Barclays boss

 

LONDON (Reuters) - There will be a shake-up of Europe's banks in the next five years, with significant consolidation and restructuring, the incoming head of British bank Barclays Plc said.

7:10pm BST

 

M&S's Rose says consumers can cope with cuts

 

BERLIN (Reuters) - Stuart Rose, chairman of bellwether British retailer Marks & Spencer , said consumers can cope with government spending cuts and retail sales will grow next year, even though trading will be tough.

5:12pm BST

 

Cable warns banks over "self indulgent" bonuses

 

LONDON (Reuters) - British banks should think twice before paying out lavish bonuses this year and must start to refocus on longer-term investment to avoid a repeat of the financial crisis, business minister Vince Cable said on Monday.

2:57pm BST

 

Swiss to help UK tax secret accounts

 

ZURICH/LONDON (Reuters) - Switzerland agreed on Monday to work towards helping tax assets that British citizens have stashed in secret Swiss accounts and to introduce a withholding tax on new deposits while preserving bank secrecy.

4:24pm BST

 

Q3 GDP seen slowing sharply to 0.4 pct q/q

 

REUTERS FORECAST: +0.4 pct q/q (Q2 +1.2 pct), +2.4 pct y/y

[interestrateripoff]

25 October 2010 Last updated at 20:37

 

Cable calls for corporate rethink

 

Speaking to the CBI conference, Business Secretary Vince Cable calls for a comprehensive rethink of how UK companies are run.

 

• Private sector growth key to prosperity
  
• Economy tracker: GDP
  
• Should firms change their ways?
  
• Picking winners?
  

 

Households 'shun new borrowing'

 

Major banks offer more evidence of a subdued mortgage market in the UK, and other lending remains low.

 

• Property sales in UK fall again
  

 

 

 

• 'Decent' pension for all proposed
   
  The government is considering a "radical" overhaul of the state pension to ensure everybody has a "decent" income in retirement, says Vince Cable.
  
• Royal Mail bosses in strike vote
   
  Thousands of Royal Mail managers are to be balloted over possible strike action in a dispute over job cuts.
  
• BP sets out to rebuild reputation
   
  UK energy giant BP outlines a strategy to revive the public's belief in its ability to operate responsibly after the US oil spill.
  
• US regulators in new loan probe
  
• KPMG investigated over BAE work
  
• BP to sell four Gulf oil fields
  
• Cameron promises push for growth
  
• Dollar at 15-year low against yen
  
• Pearson boosted by e-book sales
  
• Benefits move 'hits lone parents'
  
• Time off through stress 'rising'
  
• Ex-inmates 'need banking access'
  
• Singapore bourse launches ASX bid
  

[interestrateripoff]

CBI warns of decline in British competitiveness

 

 

Business leaders will issue a fresh warning today about Britain's competitiveness, releasing a survey of leading executives which suggests that the country is slipping behind its international rivals.

 

• Swiss account holders could face interest tax charges
  
• Treasury cheer as dividends rise for first time in a year
  
• Public sector workers take more time off, survey reveals
  
• LVMH buys 14.2 per cent stake in rival Hermès for €1.3bn
  
• Cable set to tighten up foreign acquisitions
  
• George Davies to launch Middle East children's chain
  
• Trichet unhappy with new EU rules
  

 

Stephen King: Imbalancing act as G20 ministers still fail to deliver

 

Outlook: If we treated the euro area as a single economy – as we treat the US – we would only worry about the eurozone as a whole

 

• Hamish McRae: What happened in the Eighties shows the cuts were right and we will recover
  
• Margareta Pagano: If Osborne is clever, he'll spread a little sunshine
  
• George Freeman: Coalition must play to our great strengths
  
• Vodafone given 30 days to pay £1.6bn Indian tax demand
  
• Stephen Foley: Why the courts should remember the first rule of business: a deal is a deal
  

 

It's food, drink and 'cleantech' that will get the UK back to work

 

Or so hopes the Chancellor, George Osborne, as he counts on the private sector to save the country. Deirdre Hipwell reports

 

 

• Corporate world angry over plans to create a new super-watchdog
  
• Banana Republic bends Britain to its will
  
• The business on...Andrew Sentance, Economist
  
• So, are we really all in this together?
  
• The Business On: Ray Ozzie, Chief software architect, Microsoft
  

[interestrateripoff]

[/url]

 

Banks should be broken up, Mervyn King warns

 

The Bank of England Governor has backed breaking up the banks as part of wider reforms to protect the taxpayer from another meltdown.

 

Cameron hints at relaxation of immigration cap

 

Prime Minister promises business leaders they would not be stopped from bringing the ''best talent'' to Britain.

CBI conference 2010 live

 

 

Cameron pledges 'new economic dynamism'

 

 

State pension age could increase to 68 a decade earlier

 

 

 

Household spending slump threatens recovery plans

 

Government's plans to return Britain to growth dealt a blow as new figures show household spending falling and debt levels rising.

 

FTSE 100 edges closer to 5800 level

 

 

 

 

Singapore, ASX merge to create world's fifth largest bourse

 

 

 

 

BP chief Bob Dudley: We'll never quit America

 

 

 

 

Pearson boosted by strong digital demand

 

 

 

 

Aluminium moves out of copper's shadow

 

 

 

 

Diageo stands by for £10.6bn pop at Moet Hennessy

 

 

• Making good use of the crisis will lead to recovery
  

 

• Coalition claims of 'pulling UK back from the brink' are nonsense
  

 

 

• Labour's cuts would have been 'unfair' too
  

 

CBI conference 2010 live

 

 

 

Civil servants' 'Fred Goodwin' pension terms

 

 

 

 

Labour's cuts would have been 'unfair' too

 

 

 

 

Cameron pledges 'new economic dynamism'

 

 

 

 

Coalition unveils £200bn infrastructure plan

[interestrateripoff]

New Rules to Cut Emissions for Trucks

 

By JOHN M. BRODER 43 minutes ago

 

 

New medium- and heavy-duty trucks will have to cut fuel consumption and emissions by 10 to 20 percent under the standards proposed by administration.

 

• Wheels: Emissions Rating for Chevy Volt Doesn’t Consider Electric Driving
  

 

 

 

Daniel Acker/Bloomberg News

 

Heavy vehicles account for about 20 percent of the greenhouse gases emitted by the transportation sector.

 

 

 

 

 

 

Itineraries

 

Hotels Seek Rules for Online Reviews

 

By SUSAN STELLIN 1:28 PM ET

 

As TripAdvisor’s influence grows, hotels are increasingly concerned about damage from inflammatory claims in reviews.

 

• Post a Comment | Read (68)
  

 

Treasury Sells Bonds With a Negative Yield

 

By CHRISTINE HAUSER 47 minutes ago

 

Inflation-protected securities sold at negative yields for the first time ever as traders anticipate that the Fed will start a new round of asset purchases.

 

Mortgage Modifications Slow in September

 

By DAVID STREITFELD 1 minute ago

 

The report showed that the number of delinquent homeowners who have tried and failed to get a new loan significantly exceeded the number who have succeeded.

 

Media Decoder Blog

 

Newspaper Circulation Falls Broadly but at Slower Pace

 

By JEREMY W. PETERS

 

Newspaper publishers reported lower overall circulations for the period of April through September.

 

Bits Blog

 

Former Oracle President Phillips Lands C.E.O. Gig at Infor

 

By ASHLEE VANCE 11:57 AM ET

 

Charles E. Phillips Jr., the former co-president of Oracle who was replaced by Mark V. Hurd, has landed at Infor, a business software maker in need of an image boost.

 

Singapore Exchange to Buy Australia Counterpart

 

By BETTINA WASSENER 4:40 AM ET

 

The $8.3 billion deal is the first major consolidation of Asia-Pacific exchanges and will result in $30 million in cost savings.

 

BP Chief Calls Spill Furor Excessive

 

By REUTERS 49 minutes ago

 

Comments from BP’s chief, Bob Dudley, reflect its battle to rebuild its battered reputation and defend its standards.

 

Short Sales Resisted as Foreclosures Are Revived

 

By MICHAEL POWELL

 

Homeowners could face pressure from lenders’ reluctance to allow sales for less than what remains on the mortgage.

 

• Globe and Mail Uses Old Weapons in Press War
  
• Debut for a Nimbler, Newsier National Journal
  
• Link by Link: Blurring the Line Between Apps and Books
  
• Drug Testing Poses Quandary for Employers
  
• DealBook: Carlyle Bids to Take CommScope Private
  

[interestrateripoff]

Breaking news

 

• 
  
• BoE's Posen says look beyond short-term data - Reuters
  
• U.S. dollar rallies 1 percent versus yen - Reuters
  
• Prices fall in face of govt debt supply - Reuters
  
• BHP challenge to Potash pill set for Nov.8 hearing - Reuters
  
• Cemex posts loss but debt deal propels stock - Reuters
  
• Bristol beats forecast, but Abilify disappoints - Reuters
  
• Edison cuts FY target as gas margins stay weak - Reuters
  
• KazakhGold halts PolyusGold takeover attempt - Reuters
  

 

 

 

• UK economy grew by 0.8% in last quarter
   
  Strong data eases fears that Britain is sliding towards a double dip recession as S&P upgrades UK outlook
  488 comments
  
  • Q3 GDP: what the economists say
    
  • S&P upgrade: what the experts say
    
  • Phillip Inman: Growth built on shaky foundations
    
  • Pound extends rally after S&P revises UK outlook
    
  • CBI: PM lays out his vision for job creation
    
  • CBI chief confident cuts won't start a double dip
    
  • M&S chief says consumers will cope with cuts
    
  • Vote: have we dodged double dip recession?
    

  [*] Martin Sorrell: We're LUV-shaped again

   

  Martin Sorrell, the WPP boss, has revised his alphabetical forecast for the world economy. He also revealed the advertising group's growth was at its strongest for 10 years

  [*] Cairn Energy falls on Greenland disappointment

   

  The oil explorer admits that a well in Greenland did not result in a commercial discovery

  Post your comment

  • BP 'won't quit America', despite Gulf spill
    
  • BP sells four Gulf of Mexico oil fields
    

  [*] Treasury to get £1bn windfall in Swiss deal over secret bank accounts

   

  Switzerland agrees to support UK's efforts to tax offshore accounts similar to previous arrangement with Liechtenstein

   

  • UBS investment banking suffers third-quarter loss
    

 

 

• Warren Buffett sparks succession talk with new hire
   
  Todd Combs is joining the Berkshire Hathaway conglomerate in a move that puts him among the frontrunners to replace Buffett
   
  
  • Pass notes: Warren Buffett
    
  • Warren Buffett's wit and wisdom
    

  [*] Reform of banking system will take decades, warns King

   

  None of the current reforms can prevent another crisis and bailout, says Bank of England governor

  27 comments

  • Bonuses: Cable orders bankers back down to Earth
    
  • Bob Diamond faces tough questions on lending
    
  • Cable sets out banking vision
    
  • Nils Pratley: Nice try, Vince, but don't forget tax
    

  [*] 'Cheesegrater' revived as London office market recovers

   

  British Land has teamed up with Canada's Oxford Properties to build the 47-storey Leadenhall Building

  86 comments

  • Shopping centre opens in City of London
    
  • In pictures: London's rising skyline
    
  • Do you approve of the City's changing skyline?
    

  [*] More business news

  [*] Former PWS boss Julian Messent jailed for 21 months

  [*] EU plans clampdown on carbon trading [problem]

  14 comments

  [*] Banker tells EMI fraud trial he was 'always truthful and honest'

[interestrateripoff]

Double boost for UK recovery

 

The UK economy grew by a better than expected 0.8% between July and September, the ONS said today.

 

• Steve Richards: Just as in the Eighties, ideology is driving the spending cuts
  
• Leading article: There is nothing pro-business about risking another slump
  

 

Housing market declines raise fears of double dip

 

Sarah Arnott: Mortgage lending grew at its slowest rate for 10 years last month and house purchase approvals fell to an 18-month low, exacerbating fears of a 'double dip' back into recession.

 

• Brewers' hopes are dashed as sales fall
  
• King tells banks they will have to be broken up
  
• Puma takes a €115m hit over 'Greek fraud'
  
• Pearson lifts forecast as it books 7 per cent sales rise
  
• Hands' nemesis takes the stand in EMI trial
  
• Buffett anoints successor to manage his billions
  
• Royal Mail managers set to ballot for strike
  

 

David Prosser: Two measures that raise doubts about Coalition's 'business-friendly' pledge

 

 

Outlook There was something of a love-in at the Confederation of British Industry (CBI) conference, with a bevy of ministers down to say how much they loved business and some sweeties to share in the form of big speeches and big announcements. No wonder.

 

• David Prosser: Mortgage approvals and the double dip
  
• David Prosser: Pension plan is nothing more than hot air
  
• Stephen King: Imbalancing act as G20 ministers still fail to deliver
  
• Hamish McRae: What happened in the Eighties shows the cuts were right and we will recover
  
• Margareta Pagano: If Osborne is clever, he'll spread a little sunshine
  

Back on: The battle royale among stock exchanges

 

Sean Farrell: Singapore's takeover of Sydney might look like a local deal, but analysts say it could kick off a fresh wave of mergers, including London and the Nasdaq.

 

• It's food, drink and 'cleantech' that will get the UK back to work
  
• Corporate world angry over plans to create a new super-watchdog
  
• Banana Republic bends Britain to its will
  
• The business on...Andrew Sentance, Economist
  
• So, are we really all in this together?
  

[interestrateripoff]

Q3 GDP beats forecasts but risks ahead

 

LONDON (Reuters) - The economy grew twice as fast as expected in the third quarter and ratings agency Standard and Poor's lifted the threat of a credit downgrade, a boost for a government under fire over steep spending cuts.

Continue Reading

 

 

 

BHP challenge to Potash pill set for November 8 hearing

 

WINNIPEG, Manitoba (Reuters) - Saskatchewan's securities regulator will hear BHP Billiton's challenge to Potash Corp's shareholder rights plan on November 8-9, assuming the federal government allows BHP's $39 billion (25 billion pound) bid to proceed.

7:22pm BST

 

Weak banks drive FTSE lower after UBS results

 

LONDON (Reuters) - Weak banks helped drive the top share index to a lower close on Tuesday, with sentiment hit by a loss at UBS's investment bank and as investors locked in profits after sharp gains over the last two months. | Video

G20 5:31pm BST

 

Ford posts quarterly profit and pays down debt

 

DETROIT (Reuters) - Ford Motor Co posted a higher-than-expected quarterly profit on Tuesday and accelerated plans to cut debt and borrowing costs to bring the automaker closer to an investment-grade credit rating.

6:32pm BST

 

Loose monetary policy not cause of bubbles - Bank's Posen

 

BELFAST (Reuters) - Loose monetary policy does not cause asset price bubbles, and fear that it does is a poor reason for economies in East Asia to keep their currencies undervalued, Bank of England policymaker Adam Posen said on Tuesday.

G20 6:57pm BST

 

Microsoft profit seen higher but iPad looms

 

SEATTLE (Reuters) - Microsoft Corp is expected to report a big jump in earnings on Thursday, helped by the newest versions of its lucrative Office software and the blockbuster Halo game; but short- and long-term issues with its core Windows franchise nag at investors.

7:12pm BST

 

Banker salaries to rise as bonus pot shrinks

 

LONDON (Reuters) - British-based bankers could see their base salaries climbing even further in coming months -- despite already pocketing substantial rises over the last year -- as a backlash against bonuses grows.

4:49pm BST

 

Travis Perkins mulls store sales to clear BSS deal

 

LONDON (Reuters) - Builders merchant Travis Perkins has proposed selling stores in 20 areas in its bid to get its purchase of BSS Group approved by regulators.

4:42pm BST

 

Tighter derivatives rules gain headway in U.S. and EU

 

WASHINGTON (Reuters) - The first global crackdown on the $615-trillion (388.69 trillion pounds) derivatives market gained momentum on Tuesday when U.S. regulators unveiled a new tool to police would-be fraudsters and European officials urged tighter controls.

G20 7:16pm BST

 

Bank's Sentance says more QE would be wrong policy

 

LONDON (Reuters) - Bank of England policymaker Andrew Sentance said he was encouraged by figures on Tuesday showing growth appeared to be broad-based and said any further monetary easing would be a mistake at this point.

[interestrateripoff]

26 October 2010 Last updated at 18:15

 

UK recovery faster than expected

 

The UK's economy grew at 0.8% between July and September, figures show, suggesting the recovery is faster than expected.

 

• Flanders: Good news on GDP
  
• Construction sector boosts growth
  
• Osborne: UK recovery steady
  
• Economy tracker: GDP
  

 

Tax-free Junior Isa plan unveiled

 

A new tax-free savings account for children is to be introduced as some compensation for the loss of Child Trust Fund contributions.

 

• Child Trust Fund changes and you
  

 

 

 

• All firms 'must offer pensions'
   
  Every UK business should be made to offer a company pension scheme from 2012, according to a government review.
  
• Ford sees profits jump to $1.7bn
   
  US carmaker Ford reports better-than-expected third quarter profits of $1.7bn, its sixth straight quarterly profit.
  
• Savers 'losing £12bn in interest'
   
  Savers are losing out on a possible £12bn in interest payments by staying with low-rate accounts, says Which?.
  
• Questions over pensions funding
  
• US house prices show renewed dip
  
• Transport schemes get green light
  
• RBS-NatWest rejig overdraft fees
  
• King attacks 'absurd' bank risk
  
• Independent's 20p paper launched
  
• Britons' Swiss accounts face tax
  
• War-hit countries 'most corrupt'
  
• Wind power giant Vestas cuts jobs
  
• Blackburn close to takeover deal Sport
  

 

Worst way to bank

 

Bank of England governor speaks out on bank rules

 

 

• Sigh of relief
   
  The latest growth figures bring good news
  
• Tax and benefits
  
• All in it together?
  

[interestrateripoff]

[/url]

 

Greece reignites Europe debt woes, bond investors jittery

 

Europe's debt woes returned to fore after the Greek premier threw open the door to fresh elections and vowed to liberate the nation.

 

Osborne's recovery plan gets double boost

 

Strong UK economic data and a credit rating upgrade add to hopes the recovery is gathering momentum.

Prospects of more QE fade as growth comes in above forecast

 

 

Sterling rises sharply on surprise GDP data, upbeat S&P

 

 

 

Treasury to recover taxes from Swiss bank accounts

 

UK may recover billions of pounds of tax from wealthy residents after a deal with Swiss authorities.

 

JP Morgan withdraws threat to scrap £1.5bn London HQ

 

 

 

 

German boom creates ECB policy headache

 

 

 

 

Banks should be broken up, Mervyn King warns

 

 

 

 

Warren Buffett flags potential successor

 

 

 

 

Cotton soars to new high on China cold

 

 

 

 

Cairn Greenland drilling update disapoints

 

 

• Double dip? Don't bet on it
  

 

• Barack Obama's poor economic policies play into China's hands
  

 

 

• Civil servants' 'Fred Goodwin' pension terms
  

 

How business steered us through the storm

 

 

 

 

A ray of hope to make us open our wallets again

 

 

 

 

Osborne's recovery plan gets double boost

 

 

 

 

GDP growth figures: reaction

 

 

 

 

Osborne's recovery plans receive double boost

[interestrateripoff]

Glaxo Pays $750 Million Fine for Tainted Products

 

By GARDINER HARRIS and DUFF WILSON 3 minutes ago

 

 

Regulators say the company for years knowingly sold tainted baby ointment and an ineffective antidepressant.

 

 

 

 

 

Ford Posts 6th Straight Profitable Quarter

 

By NICK BUNKLEY 2:03 PM ET

 

The automaker earned $1.7 billion and said it expected to have zero net debt by the end of December.

 

Rating Agency Raises Outlook for Britain After Cuts

 

By DAVID JOLLY 1:45 PM ET

 

The move came shortly after the government said the British economy grew more rapidly in the third quarter than many economists had expected.

 

UBS Slides on Worries Over Investment Banking

 

By JULIA WERDIGIER 8:00 AM ET

 

The loss in the Swiss bank’s investment banking division overshadowed an overall profit of $1.7 billion.

 

Stocks Are Mixed on Earnings Worries

 

By THE ASSOCIATED PRESS 27 minutes ago

 

Indexes were mixed after a disappointing report on home prices. Traders also took in a mixed batch of earnings in the United States and Europe.

 

• I.B.M. Plans to Buy Another $10 Billion of Its Shares
  

 

U.S. Consumer Confidence Remained Weak in October

 

By THE ASSOCIATED PRESS 1:45 PM ET

 

The barometer of consumer sentiment rose only slightly in October. In another report, the Standard & Poor’s Case-Shiller 20-city home price index fell 0.2 percent in August.

 

Chinese Telecom Giant in Push for U.S. Market

 

By JOHN MARKOFF and DAVID BARBOZA

 

Security concerns make telecommunications a particularly delicate industry in the United States.

 

In Bond Frenzy, Investors Bet on Inflation

 

By CHRISTINE HAUSER

 

Investors are betting that inflation will rise to a level that more than compensates for the premium they paid initially for five-year Treasuries.

 

U.S. Falls in Annual Corruption Survey

 

By DAVID JOLLY 1:45 PM ET

 

Denmark, New Zealand and Singapore are seen as having the world’s cleanest governments, while Somalia, Myanmar and Afghanistan are the most corrupt, a survey said.

 

Mortgage Modifications Slow in September

 

By DAVID STREITFELD and BINYAMIN APPELBAUM

 

A report showed that the number of delinquent homeowners who had tried and failed to get a new loan significantly exceeded the number who had succeeded.

 

 

 

• A Labor Issue Ensnares ‘The Hobbit’
  
• Itineraries: Hoteliers Look to Shield Themselves From Dishonest Online Reviews
  
• Hybrid Model for Nonprofits Hits Snags
  
• Buffett Hires an Outsider to Oversee Investments
  

[interestrateripoff]

Douche-A-Bank? Here It Comes!

The feeding frenzy continues....

Assured said

more than 83 percent of 1,306 defaulted loans examined

in one of the transactions, ACE’s Home Equity Loan Trust, Series 2007-SL2, breached Deutsche Bank’s representations and warranties. In the second deal, Home Equity Loan Trust, Series 2007-SL3,

86 percent of the 1,774 loans breached the agreements

, Assured said.

Yeah.

This wasn't intentional folks. The banks didn't know.

Oh wait - Citi's chief underwriter testified that they did know?

Uh, yeah.

The big fat flush is coming on this one folks. The landsharks will make sure of it.

You can take that to "the bank."