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    • The move marks the first time the country's central bank has raised interest rates for 17 years.View the full article
    • The move marks the first time the country's central bank has raised interest rates for 17 years.View the full article
    • The firm has benefited from the AI boom, making it the third-most valuable company in the US.View the full article
    • Former billionaire Hui Ka Yan has been fined and banned from the financial market for life.View the full article
    • In terms of "why didn't I make a claim" - well, that has to be understood in the context of the long-standing legal battle and all its permuations with the shark. In essence there was a repo and probable fire sale of the leasehold property - which would have led to me initiating the complaint/ claim v SPF in summer 19. But there was no quick sale. And battle commenced and it ain't done yet 5y later. A potential sale morphed into trying to do a debt deal and then into a full blown battle heading to trial - based on the shark deliberately racking up costs just so the ceo can keep the property for himself.  Along the way they have launched claims in 4 different counties -v- me - trying to get a backdoor B. (Haven't yet succeeded) Simultaneously I got dragged into a contentious forfeiture claim and then into a lease extension debacle - both of which lasted 3y. (I have an association with the freeholders and handled all that legal stuff too) I had some (friend paid for) legal support to begin with.  But mostly I have handled every thing alone.  The sheer weight of all the different cases has been pretty overwhelming. And tedious.  I'm battling an aggressive financial shark that has investors giving them 00s of millions. They've employed teams of expensive lawyers and barristers. And also got juniors doing the boring menial tasks. And, of course, in text book style they've delayed issues on purpose and then sent 000's of docs to read at the 11th hour. Which I not only boringly did read,  but also simultaneously filed for ease of reference later - which has come in very handy in speeding up collating legal bundles and being able to find evidence quickly.  It's also how I found out the damning stuff I could use -v- them.  Bottom line - I haven't really had a moment to breath for 5y. I've had to write a statement recently. And asked a clinic for advice. One of the volunteers asked how I got into this situation.  Which prompted me to say it all started when I got bad advice from a broker. Which kick-started me in to thinking I really should look into making some kind of formal complaint -v- the broker.  Which is where I am now.  Extenuating circumstances as to why I'm complaining so late.  But hopefully still in time ??  
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    • If you are buying a used car – you need to read this survival guide.
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    • Hello,

      On 15/1/24 booked appointment with Big Motoring World (BMW) to view a mini on 17/1/24 at 8pm at their Enfield dealership.  

      Car was dirty and test drive was two circuits of roundabout on entry to the showroom.  Was p/x my car and rushed by sales exec and a manager into buying the mini and a 3yr warranty that night, sale all wrapped up by 10pm.  They strongly advised me taking warranty out on car that age (2017) and confirmed it was honoured at over 500 UK registered garages.

      The next day, 18/1/24 noticed amber engine warning light on dashboard , immediately phoned BMW aftercare team to ask for it to be investigated asap at nearest garage to me. After 15 mins on hold was told only their 5 service centres across the UK can deal with car issues with earliest date for inspection in March ! Said I’m not happy with that given what sales team advised or driving car. Told an amber warning light only advisory so to drive with caution and call back when light goes red.

      I’m not happy to do this, drive the car or with the after care experience (a sign of further stresses to come) so want a refund and to return the car asap.

      Please can you advise what I need to do today to get this done. 
       

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    • Housing Association property flooding. https://www.consumeractiongroup.co.uk/topic/438641-housing-association-property-flooding/&do=findComment&comment=5124299
      • 160 replies
    • We have finally managed to obtain the transcript of this case.

      The judge's reasoning is very useful and will certainly be helpful in any other cases relating to third-party rights where the customer has contracted with the courier company by using a broker.
      This is generally speaking the problem with using PackLink who are domiciled in Spain and very conveniently out of reach of the British justice system.

      Frankly I don't think that is any accident.

      One of the points that the judge made was that the customers contract with the broker specifically refers to the courier – and it is clear that the courier knows that they are acting for a third party. There is no need to name the third party. They just have to be recognisably part of a class of person – such as a sender or a recipient of the parcel.

      Please note that a recent case against UPS failed on exactly the same issue with the judge held that the Contracts (Rights of Third Parties) Act 1999 did not apply.

      We will be getting that transcript very soon. We will look at it and we will understand how the judge made such catastrophic mistakes. It was a very poor judgement.
      We will be recommending that people do include this adverse judgement in their bundle so that when they go to county court the judge will see both sides and see the arguments against this adverse judgement.
      Also, we will be to demonstrate to the judge that we are fair-minded and that we don't mind bringing everything to the attention of the judge even if it is against our own interests.
      This is good ethical practice.

      It would be very nice if the parcel delivery companies – including EVRi – practised this kind of thing as well.

       

      OT APPROVED, 365MC637, FAROOQ, EVRi, 12.07.23 (BRENT) - J v4.pdf
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Re: The great interest rate ripp off part 3


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Thread continued from here;

http://www.consumeractiongroup.co.uk/forum/showthread.php?288237#post3465251

 

 

Christine Lagarde named first-ever female chief of the IMF

 

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French finance minister Christine Lagarde named as the new head of the International Monetary Fund, ending a fiercely fought contest dominated by Europe's intensifying debt crisis.

Christine Lagarde: the IMF statement

 

 

How countries gave their backing to Christine Lagarde

 

 

How does the IMF choose a successor?

 

 

 

 

UK economy in fragile state on tepid growth

 

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Britain is on course for the biggest squeeze on living standards since the 1970s as the ONS said on Tuesday that household disposable income experienced its first annual fall for nearly three decades.

 

UK SMEs 'to be hardest hit by Greece default'

 

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Britain's small businesses would be the worst UK casualties of a Greek default if the repercussions spread through the financial system, Bank of England policymakers have warned.

 

More retailers join 'Nightmare on High Street'

 

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The cast of Britain's 'Nightmare on High Street' grew as Carpetright and Thorntons became the latest to suffer from the retail tough conditions.

High street faces perfect storm

 

 

Timeline of a dying high street

 

 

Jane Norman stores sold in pre-pack saving 366 jobs

 

 

 

Debit card charges must be dropped, says OFT

 

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Customers will no longer be charged a fee for using a debit card, especially those booking with airlines and other travel companies, the Office for Fair Trading has ruled.

 

Greece told 'there is no Plan B to avoid default'

 

 

 

 

Microsoft's Office 365 to make Word and Excel available online

 

 

 

 

Standard Chartered fears eurozone fallout

 

 

 

 

John Pluthero takes control at C&W Worldwide

 

 

 

 

Rank chief executive and finance director resign

 

 

Christine Lagarde: the key facts

 

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The US declared its support for Christine Lagarde to head the International Monetary Fund, all but assuring that she will be chosen when the board meets next Tuesday. Here are some facts about the French Finance Minister.

How countries gave their backing to Christine Lagarde

 

 

 

 

Why Christine Lagarde should never be head of the IMF

 

It's not only Greeks who've lost their marbles

 

China must change for the world to prosper

Edited by MARTIN3030

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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http://www.quotationspage.com/quote/26930.html

 

There are 10^11 stars in the galaxy. That used to be a huge number. But it's only a hundred billion. It's less than the national deficit! We used to call them astronomical numbers. Now we should call them economical numbers.

 

Richard Feynman

US educator & physicist (1918 - 1988)

 

 

It's only numbers....

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8604046/British-consumers-starting-to-ration-says-Asda-boss.html

 

Judith McKenna said the true cost of living was only now "beginning to take its toll on British families" and was worried that policy-makers in Whitehall had little grasp of the impact on low income households.

 

She revealed Asda's own "average household" income tracking showed families' disposable incomes were falling fast, dropping 8pc year on year in May – the largest decline "ever".

 

It estimates the average family now has £165 a week in discretionary spending power and are facing a £14 "gap in their pockets" forcing many to ration.

 

"If you are an average family then £14 is a lot of money every week," she said. "Things are only just starting to bite,"

 

Ms McKenna said the Government had to explain "in plain English exactly how bad it is and what needs to happen with regular updates explaining where we are with the plan to help calm things down".

 

Plan A - Print more money

Plan B - If A fails print even more money

Plan C - If all else fails print even more money

 

Clearly printing all this money is going to boost spending.

 

£14 is a lot of money to the low paid, however to a trougher it's probably starter at lunch on expenses, hardly anything at all.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Breaking news

 

 

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

29 June 2011 Last updated at 19:18

 

Greece passes key austerity vote_53764291_012334117-1.jpg

 

Greek MPs vote in favour of unpopular austerity measures aimed at saving the country from defaulting on its debt, as violent protests continue outside parliament.

 

 

_53384138_tmxlsemaplegrouptorontostockexchange.jpgLondon-Toronto bourse merger off

 

The London and Toronto stock exchanges scrap plans for a £2.3bn merger because of a lack of shareholder support.

 

 

 

Fall in UK service sector output

 

The UK's service sector contracted by its biggest amount in 15 months in April, but the data was affected by the royal wedding and hot weather.

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

London Stock Exchange on the block as TMX bid fails

 

LONDON (Reuters) - The London Stock Exchange became a takeover target for Nasdaq OMX overnight on Wednesday when the British exchange pulled its $3.5 billion (2.1 billion pounds) merger with Canada's TMX Group, analysts said.

 

 

LSE, TMX abort merger plans, leaving both vulnerable

 

TORONTO/LONDON (Reuters) - The London and Toronto stock exchanges abandoned plans for a C$3.6 billion (2.3 billion pound) tie-up on Wednesday, turning both into takeover targets in a world already facing a wave of exchange consolidation.

8:03pm BST

 

Greek vote boosts risk appetite; stocks rise

 

NEW YORK (Reuters) - World stocks advanced for the third straight day and oil prices jumped on Wednesday after Greece's parliament approved the first of two austerity measures aimed at preventing the country from going bankrupt.

7:50pm BST

 

OFT to look again at metals warehouses

 

LONDON (Reuters) - The anti-competition watchdog said on Wednesday it will take another look at activity by large traders on the London Metal Exchange that also own warehouses, after lawmakers again raised concerns.

6:20pm BST

 

Citi, Lehman Europe settle over $2.5 billion assets

 

LONDON (Reuters) - Citigroup has struck a deal with the European arm of collapsed investment bank Lehman Brothers to release over $2.5 billion (1.5 billion pounds) worth of assets held in its custody business.

5:34pm BST

 

Bank of America expects loss after settlement

 

NEW YORK/CHARLOTTE, North Carolina (Reuters) - Bank of America Corp said it expects to take more than $20 billion (12 billion pounds) in charges after settling with mortgage bond investors, resulting in a second-quarter loss.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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http://maxkeiser.com/2011/06/29/live-blogging-from-witness-in-syntagma-square/

 

Police makes massive attacks to anybody walking at Syntagma Square and streets beside.

They decided to suppress protests using any kind of violence.

Papandreou became the Greek Tchausesku !!!

Tear gas is nothing if compared with today’s violence.

Today they kick kids, women, old people & tourists eating at the restaurant where we have been together.

More than 200 people stay with broken legs & hands and there are not ambulances to transfer them to the hospitals.

They throw tear gas inside the metro station & inside coffee shops & restaurants, people they get out with panic and, then, police start kicking them violently.

We never saw something like in this country.

I can send you photos proving what I say.

Now people start getting very angry.

Normal middle age people protesting pacifically for 1 month at Syntagma square, now they start speaking about organized armed resistance.

They start making lists of those who keep guns home.

The real war will start now.

Papandreou is first an idiot and then a traitor.

He tries to save the bankrupt Greek bankers, killing Greeks at Syntagma Square.

He doesn’t understand that banksters like treason but they hate traitors.

They’ll **** him very soon, in order to avoid that millions of angry & armed Greeks organize a violent bank run.

Nobody wants to say the real truth.

Deposits and Gold have been ****ed !

This is the bloody secret beside the Greek bankruptcy [problem].

And when bankruptcy will be officially declared, ECB will immediately block & execute the remaining deposits in the Greek banks (20 billions against 220), as they have been collateralized by the Greek Banks when they received cash against govt bonds.

 

Not sure how accurate all of this is but I watched some of it on TV and saw the riot police throwing the rocks back. To be honest I'm surprised Greek resistance hasn't turned violent. I can see people turning guns on the police and once that happens all hell is going to break lose. I think Greece does still have some active terrorist groups, this I fear is going to get very nasty.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Greece approves austerity bill as protesters clash with police

 

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Greece's parliament votes in favour of deeply unpopular austerity programme amid violent protests and a sense of growing social conflict, unlocking a £10.7bn transfer to the country.

Markets jump after Greece approves austerity package

 

 

 

Markets jump after Greece approves austerity package

 

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Stock markets across Europe rose in relief as Greek politicians approved a €28bn (£25.1bn) austerity package and staved off an immediate financial disaster.

Greek austerity vote as it happened: June 29, 2011

 

 

Greece approves austerity package: what the analysts say

 

 

Chaos reigns on streets of Athens

 

 

 

 

London Stock Exchange £4.2bn merger with Canada's TMX collapses

 

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London Stock Exchange's ambition to keep up in the consolidation of global bourses has been dashed with the collapse of its planned merger with Canada's TMX Group.

 

1.2 million owe tax after HMRC error

 

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Many of those who will face demands to pay hundreds of pounds in unpaid tax have recently retired and started drawing a pension.

 

BoA pays $8.5bn to settle sub-prime claims

 

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Bank of America has agreed to pay $8.5bn (£5.3bn) to settle claims that the lender sold poor-quality mortgage-backed securities that went sour when the housing market collapsed.

 

Weak outlook for consumer spending

 

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Weak outlook for UK consumer spending highlighted by a sluggish mortgage market, weak consumer credit growth, and the biggest slump in service sector output in over a year.

 

UK gilt sell-off as Greek MPs vote for more austerity

 

 

 

 

BoE split on rates as consumers struggle

 

 

 

 

British consumers starting to ration

 

 

 

 

Stagecoach profits jump as more travel by bus, train

 

 

 

 

Betfair boosted by demand for sports betting

 

 

BBA conference: Tucker urges new 'social contract'

 

banks_of_gold_1805531f.jpg

Our comprehensive coverage of the annual international conference.

 

Greece is Europe's rotten apple - and it only takes one to spoil the barrel

 

 

Why the US is the greatest threat to Lagarde at the IMF

 

 

The West must stop living on the never-never

 

 

UK economy reaction: mortgages, consumer credit and services sector

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Markets Rise on Optimism Over Greek Vote

 

By CHRISTINE HAUSER and MATTHEW SALTMARSH 1:07 PM ET

 

 

Stocks rose both before and after the approval as investors registered confidence that Greece would pass austerity measures to win another installment of aid.

 

 

 

 

30markets-sfSpan.jpg

Yannis Behrakis/Reuters

 

Developments in Greece, where Prime Minister George Papandreou and the Greek parliament approved austerity measures, captured much of the attention of financial markets.

 

 

 

 

 

 

DealBook

 

London and Toronto Exchanges Call Off Merger

 

By IAN AUSTEN 18 minutes ago

 

The exchange companies said that they believed they were unlikely to get the required two-thirds of TMX shareholders to approve their deal.

 

Bank of America to Set Aside $14 Billion in Mortgage Deal

 

By NELSON D. SCHWARTZ and ERIC DASH 11:14 AM ET

 

The charge, which will drive the company to a multibillion-dollar loss in the second quarter, is the biggest single settlement tied to the subprime mortgage boom.

 

 

DealBook

 

dbpix-bjs-wholesale-shopping2-thumbStandard.jpg

BJ's Wholesale Agrees to $2.8 Billion Buyout

 

By MICHAEL J. DE LA MERCED 10:25 AM ET

 

BJ's Wholesale Club said on Wednesday that it would sell itself to the private equity firms Leonard Green & Partners and CVC Capital Partners for $2.8 billion in cash, wrapping up a months-long sale process.

 

Prescriptions Blog

 

F.D.A. Panel Still Sees No Benefit of Avastin for Breast Cancer

 

By ANDREW POLLACK 11 minutes ago

 

Early voting at the Genentech appeal hearing indicates that advisers for the Food and Drug Administration see little new evidence to change a tentative decision about the drug.

 

Appeals Court Upholds Obama’s Health Care Law

 

By KEVIN SACK 2:08 PM ET

 

The ruling, the first by a federal appeals court on the health care overhaul, affirmed a Michigan ruling that Congress can require that Americans obtain health insurance.

 

 

Media Decoder Blog

 

News Corp. Sells MySpace to Specific Media for $35 Million

 

By BRIAN STELTER 43 minutes ago

 

MySpace, bought by the News Corporation six years ago for $580 million, has been sold to Specific Media for about $35 million, two executives with knowledge of the sale said Wednesday.

 

Egyptian Seeds Linked to European E. Coli Outbreaks

 

By WILLIAM NEUMAN and SCOTT SAYARE 37 minutes ago

 

European health officials have cautiously identified contaminated fenugreek seeds as a probable common link between the large outbreak in Germany and a smaller one in France.

 

Sony Reshuffles Leadership at Video Game Unit

 

By HIROKO TABUCHI 7:40 AM ET

 

The new chief must contend with a growing threat from hackers, who have staged a flurry of attacks on Web sites and services in recent months, including several run by Sony.

 

Dodd-Frank Rekindles Old Debate

 

By LOUISE STORY

 

A classic American political debate — state versus federal law — is surfacing in the banking sector, as regulators work to put in place the financial reforms passed a year ago in Washington.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Link to post
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BofA Agrees To Pay "X Times" Reserved, Stock Rises

In one of the most-ridiculous moves today, we have BAC, which is up some 3% this morning on the following news:

Bank of America Corp. (BAC)
, the biggest U.S. bank, agreed to pay $8.5 billion to resolve claims over soured mortgages after bondholders including
BlackRock Inc. (BLK)
demanded refunds. The company rose as much as 6.7 percent in New York trading.

The settlement will contribute to a second-quarter loss of $8.6 billion to $9.1 billion, or 88 cents to 93 cents a share, the Charlotte, North Carolina-based bank said today in a statement.

That, incidentally, is because the company has settled at a monstrous multiple to what it told the market were required reserves against these risks in the last quarterly report. Investors appear to be cheering this "settlement" but I have to wonder if they're nuts.

 

More at the link.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Wither Greece?

 

As I write this the vote in Greece is going on, and the expectation is that it will pass. Futures have been on a rampage all morning, echoing big gains in Europe. Other than one spike down (which was huge) on a leaked headline that appears to have been false, the bottom line is that the markets love people being bent over the table for the banksters - especially central banksters and those in Germany.

The media, of course, is calling this an "uprising" in Greece. What they're not talking about is why it is so important to "save" Greece in this regard.

The incessant continuation of outright financial scams and frauds among the world's banking interests, and the people's refusal to force it to stop, is the continuing outrage of this now-global mess. And let's not kid ourselves - it is a [problem].

 

More at the link.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Breaking news

 

 

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

30 June 2011 Last updated at 15:15

 

Lloyds to shed 15,000 more jobs_53770722_lloydsstrategicreview.jpg

 

Lloyds Banking Group says it is to cut another 15,000 jobs by 2014 as part of the High Street bank's strategic review.

 

 

_53770889_sky_afp.jpgNews Corp closer to buying BSkyB

 

The government puts new conditions on the spin-off of Sky News that will be required if News Corp is to be allowed to buy all of BSkyB.

 

 

_53776280_012339393-1.jpgThousands staging pensions strike

 

Schools, courts and jobcentres are among the services affected across the UK as public sector workers strike against proposed pension changes.

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

New Lloyds CEO cuts 15,000 jobs in revival plan

 

LONDON (Reuters) - Lloyds will axe 15,000 jobs and halve its international presence, a plan its new boss hopes will save 1.5 billion pounds a year by 2014 and return the part-nationalised British bank to health

 

 

 

UK firms have no obligation to tender oil

 

LONDON (Reuters) - UK firms holding emergency oil stocks have no obligation to tender or release them, a spokesman for the Department of Energy and Climate Change (DECC) said on Thursday, indicating the oil may never leave storage tanks.

2:53pm BST

 

HMV to refocus on gadgets as profits slump

 

LONDON (Reuters) - Retailer HMV Group Plc aims to ramp up sales of MP3 players, headphones and tablet computers to offset sliding demand for CDs and DVDs and inspire a recovery from near collapse.

2:13pm BST

 

UK investors unrattled by Greece woes - Reuters poll

 

LONDON (Reuters) - British fund managers are keeping faith with the euro zone, increasing investments in the area amid confidence policymakers will act to contain the Greek debt crisis and prevent it spreading, a Reuters poll showed.

2:45pm BST

 

Irish central bank to decide in Q3 on banks' credit limits

 

DUBLIN (Reuters) - Ireland's central bank will decide by the end of September whether to introduce credit limits for banks to prevent a repeat of the reckless lending that fuelled the country's financial crisis.

1:40pm BST

 

Constellation Brands to cut jobs to save money

 

NEW YORK (Reuters) - Constellation Brands Inc reported higher-than-expected first-quarter earnings on Thursday, but lowered its full-year net profit forecast due to one-time charges related to cost-cutting measures.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

[/url]

 

Lloyds Banking Group cuts 15,000 jobs to get 'bank back on its feet'

 

lloyds_1888531g.jpg

The chief executive of Lloyds Banking Group has put the lender on a collision course with workers unions after saying the bank would have to cut 15,000 jobs if it is to return to profitability, while HSBC also announced a 700 jobs cull.

Lloyds boss has more in common with the PM than you think

 

 

Lloyds: timeline of job cuts

 

 

The world's 10 richest banks

 

 

 

 

LSE's merger with TMX collapses

 

rolet_1836086g.jpg

London Stock Exchange's £4.2bn ambition to keep up in the consolidation of global bourses has been dashed with the collapse of its planned merger with Canada's TMX Group.

London Stock Exchange's transatlantic tie-up with TMX in tatters

 

 

 

BG Group doubles oil reserves estimate

 

brazil_1934268g.jpg

BG Group, the UK’s third-largest oil and gas producer, believes there are actually 6bn barrels of oil in its giant Brazilian wells – double the amount it previously thought.

Brazil's biggest oil finds in 2010

 

 

BG Group doubles Brazilian oil estimates: analysts react

 

 

 

HMV profits plunge as it bets on technology

 

HMV_1837439g.jpg

HMV is banking on live music events and new technology to help turnaround its fortunes, as the struggling British music and DVD retailer announced a 96pc plunge in annual pre-tax profits.

 

Bank ring-fencing plans questioned

 

The banking industry has received rare political support after a senior politician questioned the Government's determination to force the largest lenders to ring-fence their retail banking arms.

 

MySpace sold to Timberlake ad agency

 

 

 

 

Markets jump as Greece approves austerity deal

 

 

 

 

Fresh inflation threat to weak UK economy

 

 

 

 

Debenhams and Arcadia face legal action from shareholders

 

 

 

 

IBM boss: skills gap leaves 200 jobs empty

 

 

Don't cave into public sector strikes, Institute of Directors pleads

 

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The Institute of Directors has urged the Government to stand its ground over public sector pension reform in the face of the widespread strikes planned for today.

Emerging markets could be the new safe haven for investors

 

 

 

 

US risks "severe shock" over debt talks

 

 

 

 

The West must stop living on the never-never

 

 

Greece is Europe's rotten apple - and it only takes one to spoil the barrel

 

 

How much would you need to save to buy a public sector pension?

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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German Banks and Government Agree to Roll Over Greek Debt

 

By MATTHEW SALTMARSH 9:55 AM ET

 

 

The agreement is based on a similar agreement between France and its banks, and is seen as crucial to securing more aid for Greece.

 

 

 

01euro-web-sfSpan.jpg

Georges Gobet/Agence France-Presse — Getty Images

 

German Finance Minister Wolfgang Schäuble.

 

 

 

 

 

 

01greece-a-thumbStandard.jpg

Greek Parliament Approves Implementation of Austerity Plan

 

By RACHEL DONADIO 38 minutes ago

 

Greek lawmakers on Thursday passed legislation allowing for the rapid implementation of new austerity measures.

 

 

Optimism on Greece Pushes Stocks Higher

 

By THE ASSOCIATED PRESS 21 minutes ago

 

Greek movement on debt relieved investors, but a report on claims for American jobless benefits tempered enthusiasm about the economic recovery in the United States.

 

 

RARE-thumbStandard.jpg

The Fear of a Toxic Rerun

 

By KEITH BRADSHER

 

A company is being accused of cutting corners as it builds a refinery for rare earths in Malaysia, where the last such effort became one of Asia’s largest radioactive waste sites.

 

 

DealBook

 

30armageddonPicB-thumbStandard.jpg

New Investment Strategy: Preparing for the Worst

 

By AZAM AHMED

 

Europe’s debt crisis, as well as uprisings and natural disasters, are prompting a search for portfolio protection.

 

DealBook

 

Lloyds Announces Plan to Cut 15,000 Jobs

 

By JULIA WERDIGIER 8:45 AM ET

 

The Lloyds Banking Group said that it also planned to scale back its overseas operations as part of a larger reorganization aimed at allowing the British government to sell its stake in the lender.

 

Despite Fears, Owning Home Retains Allure, Poll Shows

 

By DAVID STREITFELDand MEGAN THEE-BRENAN

 

About nine in 10 Americans see owning a home as part of the American dream, even as many doubt their home is a good investment, according to the latest New York Times/CBS News poll.

 

 

Bank of America Settles Claims Stemming From Mortgage Crisis

 

By NELSON D. SCHWARTZ and ERIC DASH

 

The charge, which will drive the company to a multibillion-dollar loss in the second quarter, is the biggest single settlement tied to the subprime mortgage boom.

 

 

Fed Halves Debit Card Bank Fees

 

By EDWARD WYATT

 

The new cap of 21 to 24 cents for a debit card transaction is higher than the Federal Reserve’s initial figure, but well below the 44 cents that banks now charge.

 

 

01britain-thumbStandard.jpg

Public Workers Strike in Britain Over Pensions

 

By SARAH LYALL 23 minutes ago

 

Hundreds of thousands of teachers and workers across Britain walked off their jobs on Thursday as unions warned of a wave of strikes.

 

 

DealBook

 

Path Cleared for News Corp.'s BSkyB Bid

 

By CHRIS V. NICHOLSON

 

Now, Rupert Murdoch is left to haggle with BSkyB shareholders, many of whom expect a higher offer than the 700 pence a share he bid last summer.

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Breaking news

 

 

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

1 July 2011 Last updated at 19:21

 

Bribery Act targets corrupt firms

 

Legislation aimed at making it easier to prosecute companies who make corrupt payments abroad has come into force.

 

 

_53814690_53813416.jpgStrauss-Kahn freed without bail

 

Former IMF chief Dominique Strauss-Kahn is released from house arrest amid doubts about the credibility of his accuser.

 

 

 

_53714913_bombardier.jpg'Disaster' fear for train factory

 

Fears of job losses at the UK's last remaining train factory rise after the leader of Derby City Council speaks of an impending "disaster".

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Bank to keep rates on hold as economy flags

 

LONDON (Reuters) - Concern about the pace of economic recovery looks set to persuade the Bank of England to keep interest rates at rock-bottom not just next week but for the rest of the year.

 

 

Deutsche CEO hunt turns inward as Weber quits race

 

FRANKFURT (Reuters) - Deutsche Bank will have to focus on internal candidates to take over as its next chief executive after former Bundesbank head Axel Weber spurned the role to become chairman-designate at UBS . | Video

3:54pm BST

 

Banks back creaking Greek debt plan

 

LONDON/FRANKFURT (Reuters) - International banks and insurers attempted to paper over major cracks in a proposed Greek debt rollover on Friday, saying there was broad support to reinvest in the country.

5:56pm BST

 

Irish government settles terms with AIB bondholder

 

DUBLIN (Reuters) - A junior bondholder in Allied Irish Banks withdrew its challenge to a state-backed burden-sharing scheme on Friday as the government forged ahead with plans to recapitalise the state-owned lender.

6:25pm BST

 

Greece optimism lifts FTSE to best week in year

 

LONDON (Reuters) - The top shares rose on Friday, led by banks on positive U.S. economic data and as immediate fears over the Greek debt situation subsided.

5:38pm BST

 

Q3 starts with big drops in oil, corn

 

NEW YORK (Reuters) - Commodities kicked off the third quarter on Friday with corn diving for a second day on forecasts for increased supplies and oil headed for its biggest daily decline this week on weak Chinese factory output.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

A Collision of Creativity and Cash at Disney/Pixar

 

By JAMES B. STEWART 12:09 PM ET

 

While Disney focuses on lucrative franchises, Pixar maintains it is devoted to the story. In “Cars 2,” Disney won.

02stewart-web-sfSpan.jpg

Disney/Pixar, via Associated Press

 

"Cars 2," which has been panned by critics, has all the hallmarks of a franchise.

 

 

 

DealBook

 

dbpix-company-zynga-thumbStandard.jpg

Zynga Files for $1 Billion I.P.O.

 

By EVELYN M. RUSLI 34 minutes ago

 

The filing by the online gaming company comes amid a growing sense of urgency among some of the largest Web companies to go public.

 

Europe Gives $17 Billion to Greece to Avoid Default

 

By STEPHEN CASTLE 12 minutes ago

 

The new installment of aid helps ministers buy time to settle disagreements over a second rescue package.

 

Markets Jump on Word of a Manufacturing Rebound

 

By THE ASSOCIATED PRESS 11:25 AM ET

 

The Institute for Supply Management said that its manufacturing index rose in June, and the report spurred a flurry of buying on Wall Street.

 

 

Carmakers See Slower Growth in Auto Sales in June

 

By NICK BUNKLEY 45 minutes ago

 

Sales across the industry were higher last month compared to a year earlier, but the annualized selling rate likely fell to the lowest level of the year.

 

Regulators in Russia Rescue Bank of Moscow

 

By ANDREW E. KRAMER 8:15 AM ET

 

The bailout, worth $14.1 billion, raised the specter of balance sheet problems at other Russian banks, which had a tendency during the recession to roll over loans to struggling companies.

 

The Caucus

 

Debt Ceiling Date Does Not Budge

 

By BINYAMIN APPELBAUM

 

Aug. 2 is still the last day the government will be able to pay all its bills, according to a new Treasury estimate.

 

01geithnerPic-thumbStandard.jpg

Geithner Staying (for Now)

 

By MARK LANDLER

 

Treasury Secretary Timothy F. Geithner said Thursday that he planned to stay in his job “for the foreseeable future.”

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

[/url]

 

Vodafone buys Essar out of Indian joint venture for $5.46bn

 

vodafone_1774758g.jpg

Vodafone has sealed a deal to buy Essar out of their Indian joint venture for $5.46bn (£3.4bn), finally putting an end to their turbulent four-year relationship.

 

 

UK manufacturing growth slowest for two years

 

manufacturing_1935157g.jpg

British manufacturing activity slowed to a 21-month low in June, according to the leading monthly survey, raising worries about the prospects for the recovery's success story.

Recovery is under way, it’s just going to be a long, hard slog

 

 

UK manufacturing growth slows: analyst reaction

 

 

 

Tesco avoids shareholder rebellion over pay

 

tesco_1935661g.jpg

Tesco, the UK’s biggest supermarket, avoided a bloody nose from shareholders at its annual meeting in Nottingham on Friday, with just 3.3pc of investors refusing to back its remuneration report.

 

Corn prices slump on US planting

 

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US corn prices slumped for a third-consecutive day, hitting a three-and-a-half month low, after a report showed farmers had planted a bigger crop than analysts had expected.

 

Twitter faces investigation from US regulators

 

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US regulators are said to be investigating Twitter's business relations with software developers behind applications that help millions of people use the popular micro-blogging platform.

 

National Grid hires Sir Peter Gershon as chairman

 

 

 

 

Hong Kong's richest man eyes Northumbrian

 

 

 

 

BP compensation fund 'working too slowly'

 

 

 

 

SFO risks clash over Bribery Act

 

 

 

 

Markets' hunt for returns risks stability

 

 

Recovery is under way, it’s just going to be a long, hard slog

 

umbrella_1935294g.jpg

There has been a tonal shift in the language of recovery. A year ago the Chancellor spoke of his “cautious optimism” for the UK economy. A fortnight ago, his talk had shifted to “substantial headwinds” on the “hard” road back to sustainable growth.

UK manufacturing growth slows: analyst reaction

 

 

 

 

Obama's jobs fear

 

 

 

 

Chinese manufacturing grows at slowest pace in more than two years

 

 

Lloyds' new manifesto would be money in the bank for any politician

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

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