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The great interest rate rip off part 9


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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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29 July 2013 Last updated at 17:08

 

 

Energy watchdog 'failing consumers'_68995616_tv000081845.jpg

 

MPs call for the energy regulator Ofgem to do more to make profits at the big six energy companies more transparent and restore trust in the market.

 

 

_68988782_87729493.jpgUnison to challenge tribunal fees

 

Unison is to challenge new fees for workers bringing employment tribunals in the UK, after being granted permission to seek a judicial review.

 

 

 

_68995563_68706149.jpgBoeing in global aircraft inspection

 

Boeing requests airlines to carry out inspections of a transmitter used to locate aircraft after a crash.

 

 

 

 

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

http://www.independent.co.uk/news/uk/politics/inflation-has-killed-the-minimum-wage-says-its-chief-architect-8737169.html

 

 

The national minimum wage is no longer working because its value has fallen, one of its key architects said as a new study showed it could be worth less in 2017 than it was in 2004.

 

The landmark measure, introduced by the Blair government 15 years ago this week, has dropped in value in real terms in the past five years after being pegged to wages, which have not kept pace with inflation.

 

Professor Sir George Bain, the first chairman of the Low Pay Commission which recommends the level of the minimum wage each year, told The Independent a “fresh approach” is needed because it is not addressing today’s problems. He believes the priority is to help the 3.6 million people who are above the legal minimum but below the “living wage” needed for a basic standard of living. That is paid voluntarily by about 250 employers and is worth £7.45 an hour, or £8.55 an hour in London.

 

The minimum wage is currently set at £6.19 an hour and covers 1.1 million workers. It has usually risen in line with median pay, which has fallen behind inflation in recent years.

 

The study by the Resolution Foundation, a think tank campaigning for better living standards for the 15 million people on low and middle incomes, predicts the legal floor would rise to £7.12 an hour in 2017 – the equivalent of £6.12 an hour in today’s prices and less than the £6.33 an hour it was worth in 2004. The prediction is based on Office for Budget Responsibility (OBR) forecasts for wage growth. The foundation says that would mean “13 lost years” in the fight against low pay.

 

Professor Bain said that from its launch in 1998 to 2007, the minimum wage abolished the worst excesses of low pay but struggled to help the group earning less than the living wage.

 

Hilarious really I suppose increasing the minimum wage will relieve the poverty...... ignoring the problem that this distorts the market and is actually increasing poverty and the minimum wage may have undermined purchasing power increasing poverty.

 

Still I reckon if we could make the minimum wage £1m per hour this time next week we'll all be millionaires and poverty will have been eradicated....

 

Still he's an expert and he'll know better than anyone how to fix the problem.

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

Publicis and Omnicom’s £23bn merger knocks Sorrell’s WPP off global summit

 

29 July 2013 01:18 AM

Advertising was shaken to its foundations on Sunday as a $35bn (£22.7bn) mega-merger between two industry rivals toppled Sir Martin Sorrell’s WPP as the world’s biggest firm.

 

 

 

Cuts after 2015 election ‘will slow growth’

 

29 July 2013 01:20 AM

Chancellor George Osborne should be braced for slowing growth after the next general election, a leading economic forecaster warned today.

 

 

 

Hammerson feels heat as shoppers avoid Brent Cross

 

29 July 2013 01:28 PM

Brent Cross shopping centre owner Hammerson was cursing the heatwave today despite rising rents and fuller occupancy in the first half of the year.

 

 

 

Sir Martin Sorrell: Omnicom, Publicis deal will result in an exodus of talent

 

29 July 2013 01:24 PM

WPP advertising supremo Sir Martin Sorrell today forecast that rivals Publicis and Omnicom would suffer a wave of client defections and an exodus of talent after their £23 billion mega-merger.

 

 

 

Metro Bank still in the red despite customer growth

 

29 July 2013 01:23 PM

The first new bank to open on Britain’s high streets in more than a century increased its number of account holders by 54% during the first half of the year but still remained loss making.

 

 

 

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Boeing urges further inspections on its jets after Heathrow Dreamliner blaze

 

29 July 2013 09:49 AM

Air investigators say emergency locator beacon checks should include five more aircraft types

 

 

 

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Ryanair eyes potential for advertising on outside of jets

 

29 July 2013 09:42 AM

Passengers turn down sunshine break abroad to top up tans at home

 

 

 

Mega-projects Crossrail and HS2 facing cost hike on skills gap

 

29 July 2013 01:21 AM

The Crossrail and High Speed Two (HS2) mega-projects could be “thousands” of engineers short during peak periods of construction, a leading recruitment firm to both infrastructure projects has warned.

 

 

 

More homes on the market – but prices rise again

 

29 July 2013 01:19 AM

The booming property market paused for breath in July as more sellers dipped their toe in the water, new figures showed today.

 

 

 

Pharmaceuticals-Company.jpg

US drug company pays premium for tax haven with $8.6bn Irish takeover

 

29 July 2013 12:59 PM

Michigan-based Perrigo expected to move to Republic of Ireland HQ after acquiring pharmaceuticals maker Elan

 

 

 

Sports-Direct.jpg

Sports Direct employs nine out of 10 of staff on 'zero-hour contracts'

 

29 July 2013 09:51 AM

UK's biggest sports retailer keeps 20,000 employees on 'casual terms' with no guarantee of work

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

Lessons From the Glaxo Case in China

 

By PETER J. HENNING 32 minutes ago

 

China’s investigation into accusations that the British pharmaceutical company GlaxoSmithKline bribed doctors and public officials to increase its sales contrasts with the approach by the United States authorities in such cases.

dbpix-glaxo-china-sfSpan.jpg

Ray Young/European Pressphoto Agency

 

A man looks at posters displayed inside the office of GlaxoSmithKline in Shanghai.

 

 

 

DealBook

 

In Surprise, Tourre Defense Calls No Witnesses

 

By MICHAEL J. DE LA MERCED 24 minutes ago

 

Lawyers for Fabrice Tourre, the former Goldman Sachs trader accused of defrauding investors, began their case at about 11:47 a.m. One minute later, it rested without calling any witnesses.

 

29cnbc-publicis-thumbStandard.png

Two Ad Giants Chasing Google in Merger Deal

 

By TANZINA VEGA

 

The merger of Omnicom and Publicis signals that advertising is now firmly in the business of collecting and selling the personal information of millions of consumers.

 

 

DealBook

 

dbpix-saks-thumbStandard.jpg

Saks Sells Itself to Hudson’s Bay, Owner of Lord & Taylor

 

By MICHAEL J. DE LA MERCED 10:44 AM ET

 

Saks is selling itself to Hudson’s Bay Company of Canada for about $2.4 billion in cash, creating an even bigger player in the world of retail.

 

Sinclair to Buy TV Stations From Allbritton

 

By BRIAN STELTER 12:04 PM ET

 

The deal will add seven stations to the Sinclair portfolio, including WJLA, the ABC affiliate in Washington, while providing more capital for Allbritton to invest in Politico.

 

DealBook

 

Perrigo to Buy Irish Drug Maker Elan for $6.7 Billion

 

By MARK SCOTT 10:38 AM ET

 

The American drug company Perrigo agreed on Monday to acquire the Irish biotechnology company Elan in a cash-and-stock deal worth $6.7 billion.

 

BMW-i3-1-thumbStandard.jpg

BMW Unveils i3 Electric Car

 

By BENJAMIN PRESTON 2:36 PM ET

 

BMW says it plans to offer the i3 E.V. and other variants as a subbrand.

 

29computers-thumbStandard.jpg

PC Industry Fights to Adapt as Tablets Muscle In

 

By NICK WINGFIELD

 

While sales of PCs to businesses remain steady, demand among consumers has plunged, largely because people are instead buying iPads, Kindle Fires and other tablets.

 

20130730_RAIN-thumbStandard.jpg

Too Much Rain in the South, Too Little Produce on the Shelves

 

By KIM SEVERSON 11 minutes ago

 

In deluged Southern states, the quantity, and quality, of fruits and vegetables is suffering.

 

 

 

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

Deloitte to face £20m fine and suspension over MG Rover sale

 

rover_1628660g.jpg

Deloitte faces a fine of up to £20m and the suspension of one of its partners after a tribunal ruled the accountants had shown a “deliberate disregard” for professional ethics in its handling of the sale of defunct carmaker MG Rover.

14 Comments Brit warning over Omnicom-Publicis merger

 

publicis-omnicom_2629613g.jpg

Major British brands have warned that the proposed $35bn (£23bn) merger of the agency groups Omnicom and Publicis threatens competition and choice in the advertising market.

Comment

 

US shale threatens demise of OPEC

 

oil_2630316g.jpg

Saudi Arabia and the Opec oil states must wean their economies off energy exports immediately or spiral into decline as America’s shale revolution shatters the world order.

13 Comments

Apple faces fresh China 'abuse' claims

 

Apple_2568393g.jpg

Apple has been accused of being “complicit” in a litany of alleged labour violations involving one of its suppliers in China, the Taiwanese firm Pegatron.

1 Comment

 

Reckitt takes £225m legal hit amid NHS claim

 

reckitt_1793193g.jpg

Reckitt Benckiser, the consumer goods giant, has written off £225m from its profits because of legal and regulatory investigations amid a multi-million pound claim by the NHS.

 

Barclays set to announce rights issue

 

barclays_2603263g.jpg

Barclays will on Tuesday announce plans to raise more than £4bn from shareholders as it publishes its financial results for the first half of the year.

2 Comments

 

Lending to small business jumps - BoE

 

Lending to small businesses is expanding at its fastest pace in more than two years and retail sales soared in the summer heat, according to two surveys.

6 Comments

 

Businessmen lose RBS swaps appeal

 

 

 

 

GlaxoSmithKline has credit outlook cut by Moody's

 

 

 

 

 

Bitcoin banned in Thailand

 

bitcoin_2526801f.jpg

Thailand becomes the first country to ban Bitcoins after central bank rules it is not a currency.

 

It's official: Wary banks to blame for lending fall

 

banks_1780461b_2630271g.jpg

Small business owners might not be surprised, but now Government-commissioned research has confirmed what many of them already suspected: a lack of bank lending is down to risk aversion and weak supply, not a lack of demand.

Comment Lingering Eurozone crisis dampens SME optimism

 

eurozone_2140474b_2240619g.jpg

Fears over continuing economic weakness in the eurozone are dampening small companies’ enthusiasm about an improving domestic economy, research has revealed.

Comment

Business news and markets: as it happened, July 29

 

elan_2629576g.jpg

European markets have risen on a wave of positive corporate data and on the back of renewed M&A hopes, although New York has dipped in the run up to the latest moves from the Federal Reserve.

20 Comments

Competition for jobs falls to four-year low

 

jobs0_2_1611324g.jpg

Competition for jobs has eased for the fifth month in a row as the economic recovery gathers pace, but almost half the vacancies are concentrated in London and the South East, data released today shows.

 

Let’s shop for Britain: only consumer spending can sustain the recovery

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

Royal baby: Birth of Prince George has Domino effect on pizza sales

 

30 July 2013 01:49 PM

Kate and William are said to have scoffed Zizzi pizzas after the birth of Prince George but the rest of the country gobbled Domino’s.

 

 

 

Profits suffer at Santander UK following rise in savings rates

 

30 July 2013 01:46 PM

Eurozone woes have squeezed Santander’s UK profits this year as it pays the price for having to dangle more attractive deposit rates to tempt nervy savers, the bank said today.

 

 

 

BP's Gulf of Mexico disaster fund is scraping the barrel

 

30 July 2013 01:38 PM

Shares in BP tumbled nearly 4 per cent today after the FTSE 100 oil giant hiked its provision for compensation claims from the Gulf of Mexico oil spill by $1.4 billion (£913 million) to $9.6 billion — and warned the final cost could be “significantly higher” as it continues to receive new claims.

 

 

 

Barclays-PA.jpg

Barclays issues £5.8bn new shares as it reveals £12.8bn shortfall

 

30 July 2013 08:05 AM

Cash call is part of fundraising plan to boost balance sheet by £12.8bn

 

 

 

Deloitte loses MG Rover conflict-of-interest appeal

 

30 July 2013 01:35 AM

Deloitte has failed to overturn a ruling that it did not manage conflicts of interest between MG Rover and the so-called “Phoenix Four” directors in the lead-up to the car maker’s collapse.

 

 

 

Warren Buffett’s son Peter questions giveaways by the rich

 

30 July 2013 01:29 AM

Just this month, Warren Buffett announced plans to give away more than $2.6bn (£1.7bn) of stock in his Berkshire Hathaway conglomerate to charities, in the latest round of annual gifts since he outlined plans to give away most of his wealth in 2006. But now his son has publicly questioned the trend of big-ticket giving by the rich when the “existing structure of inequality” is left unchallenged.

 

 

 

ITV gives its dividend the X factor

 

30 July 2013 01:42 PM

ITV shares today soared 5 per cent to a record high as chief executive Adam Crozier hiked the dividend almost 40 per cent and reported that advertisers are feeling “more confidence and positivity” about the UK economy.

 

 

 

Times of India sells Absolute Radio to Bauer Media

 

30 July 2013 01:42 AM

The owner of Kiss FM and Magic FM and the magazines ‘Heat’ and ‘Grazia’ is buying the rock radio station Absolute Radio.

 

 

 

Bank incentives lift small business loans

 

30 July 2013 01:36 AM

A record rise in loans to small businesses brought more cheer on the economy on Monday as momentum builds to unlock credit markets.

 

 

 

Hammerson feels heat as shoppers avoid Brent Cross

 

29 July 2013 01:28 PM

Brent Cross shopping centre owner Hammerson was cursing the heatwave today despite rising rents and fuller occupancy in the first half of the year.

 

 

 

Sir Martin Sorrell: Omnicom, Publicis deal will result in an exodus of talent

 

29 July 2013 01:24 PM

WPP advertising supremo Sir Martin Sorrell today forecast that rivals Publicis and Omnicom would suffer a wave of client defections and an exodus of talent after their £23 billion mega-merger.

 

 

 

Metro Bank still in the red despite customer growth

 

29 July 2013 01:23 PM

The first new bank to open on Britain’s high streets in more than a century increased its number of account holders by 54% during the first half of the year but still remained loss making.

 

 

 

Pharmaceuticals-Company.jpg

US drug company pays premium for tax haven with $8.6bn Irish takeover

 

29 July 2013 12:59 PM

Michigan-based Perrigo expected to move to Republic of Ireland HQ after acquiring pharmaceuticals maker Elan

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

Accused tipper to SAC hedge fund arrested in insider-trading probe

 

8:27pm BST

 

Goodyear sees sales stabilizing in Europe; lower costs boost margins

 

8:13pm BST

 

Dollar up, stocks pare gains as central banks meet

 

FXpert, 8:03pm BST

 

Lockheed, Pentagon set deal to buy full order of F-35 jets

 

7:58pm BST

 

EU regulator intensifies scrutiny of Google search results

 

6:59pm BST

 

Foreign banks speed up East European funding withdrawal - study

 

6:26pm BST

 

Exclusive: Schneider nears $5 billion Invensys deal - sources

 

6:20pm BST

 

VW sticks with 2013 outlook after H1 earnings drop

 

6:18pm BST

 

Peugeot bailout gets EU green light

 

5:55pm BST

 

Barclays seeks £5.8 billion from shareholders to appease regulator | btn_rel_video.gif

 

5:54pm BST

 

Barclays fights UK watchdog findings on Qatar deal

 

5:49pm BST

 

Banks in line for $153 million payday from Barclays share sale

 

Africa 5:49pm BST

 

Top Barclays investor blasts 'capricious and hostile' regulators

 

5:49pm BST

 

July merger flurry signals gradual pickup in deals

 

5:45pm BST

 

Potash sector rocked as Russia's Uralkali quits cartel

 

8:14pm BST

 

Western Union profit beats as lower fees boost transfers

 

5:40pm BST

 

Crackdown on risk hits Barclays, Deutsche

 

5:40pm BST

 

Robust corporate earnings nudge up FTSE

 

FXpert, 5:37pm BST

 

JPMorgan to pay $410 million to settle U.S. power market case

 

5:32pm BST

 

Peugeot bailout gets EU green light

 

5:28pm BST

 

Profit warning at thriving U.S. Chrysler unit hits Fiat

 

5:00pm BST

 

Chrysler delays launch of new Jeep Cherokee by a month

 

5:00pm BST

 

Germany's Praktiker appoints Macquarie in hunt for investor

 

4:52pm BST

 

Greenlight's Einhorn cuts gold bullion to invest in miners

 

4:47pm BST

 

Air France could cut 3,000 more jobs - union

 

Aerospace & Defence 4:40pm BST

 

Discovery profit misses; Oprah Winfrey network makes money

 

4:38pm BST

 

Schneider nears $5 billion Invensys dea l- sources

 

4:37pm BST

 

EU regulators clear Peugeot 7 billion euro state guarantee

 

4:36pm BST

 

Cuba reports little progress five years into agricultural reform

 

4:32pm BST

 

Santander Brasil mulls takeovers to support lending growth

 

4:27pm BST

 

Rosneft gets green light to buy two gas producers

 

3:51pm BST

 

Shareholder lawsuits could cost RBS four billion pounds - court papers

 

3:49pm BST

 

Greek bank rescue fund has spent 38 billion euros so far | btn_rel_video.gif

 

3:43pm BST

 

Analysis - Growth 'survivors' now define emerging markets

 

3:42pm BST

 

MAN takes tax hit as Volkswagen looks to seal buyout

 

3:34pm BST

 

JPMorgan to pay $410 million to settle U.S. power market case

 

3:18pm BST

 

UK biofuel plant Ensus to reopen in autumn -owner CropEnergies

 

2:50pm BST

 

Einhorn still bullish on gold, General Motors

 

2:49pm BST

 

Goodyear Tire profit tops estimate as demand returns in Europe

 

2:48pm BST

 

Thomson Reuters revenue edges up on legal, accounting strengths

 

Japan 6:23pm BST

 

India fixes upper cap for availing withholding tax benefits for foreign investors

 

2:44pm BST

 

BP braced for legal long-haul as spill payouts leap | btn_rel_video.gif

 

Gulf Oil Spill 2:25pm BST

 

JPMorgan to pay $410 million to settle U.S. power market case

 

2:22pm BST

 

Big savers at Bank of Cyprus to take 47.5 percent of cash in shares

 

2:18pm BST

 

EDF exits U.S. nuclear, ups earnings outlook

 

Nuclear Power 2:10pm BST

 

3D Systems profit misses estimates as expenses soar

 

2:06pm BST

 

German inflation picks up to highest rate this year

 

1:47pm BST

 

Barclays' Absa posts weak profit growth, sees muted loan demand

 

Africa 1:45pm BST

 

Community Health to buy Health Management for $3.9 billion

 

1:43pm BST

 

Spain's Santander profit leaps even as Brazil flags

 

1:40pm BST

 

Western Union profit falls 27 percent as competition bites

 

1:28pm BST

 

JPMorgan to pay $410 million in U.S. power market manipulation probe

 

1:26pm BST

 

Alcatel CEO says Qualcomm deal may lead to others

 

1:04pm BST

 

Hess to sell Energy Marketing unit to UK's Centrica for $1.03 billion

 

1:00pm BST

 

Spain's economy close to levelling off but beset by risks

 

Spain 12:47pm BST

 

Community Health to buy Health Management for $3.9 billion

 

12:37pm BST

 

EU Commission to decide on Monte dei Paschi after summer - source

 

12:29pm BST

 

Spain's Santander says no plans to list UK unit for now

 

12:26pm BST

 

Greece sells state lotteries, clears way for OPAP sale

 

12:23pm BST

 

China urbanisation cost could top $106 billion a year - think-tank

 

12:21pm BST

 

Thomson Reuters says second-quarter revenue up; reaffirms 2013 outlook

 

12:21pm BST

 

Pfizer earnings top estimates, reiterates forecast

 

12:20pm BST

 

Merck revenue misses mark as diabetes, arthritis drugs lag

 

12:18pm BST

 

Western Union profit falls 27 percent on weak consumer business

 

12:16pm BST

 

China vows to keep growth steady, fine-tune policy in H2

 

12:11pm BST

 

Spain's economy close to levelling off but beset by risks

 

Spain 12:09pm BST

 

Greece may avoid worrisome budget gap, economic risk abates

 

IMF 12:06pm BST

 

Drax H1 profit tumbles on higher carbon costs

 

12:05pm BST

 

British broadcaster ITV sees advertising boost ahead

 

UK 12:01pm BST

 

Merged Publicis-Omnicom may speak with American accent

 

11:57am BST

 

Deutsche Bank legal, regulatory costs weigh on earnings

 

11:50am BST

 

Fiat profit in line with forecasts despite Chrysler warning

 

11:49am BST

 

BP says well-prepared for lengthy spill-related legal battle

 

11:46am BST

 

UK's Domino's Pizza shares drop as Germany push falters

 

11:39am BST

 

Greece sells state lotteries, deal clears way for OPAP privatisation sale-source

 

11:35am BST

 

Euro zone economic sentiment hits 15-month high in July

 

11:20am BST

 

Pfizer earnings beat forecasts as drugmaker plans split

 

11:15am BST

 

Japan's Amari - Abandoning sales tax hike not an option barring big shocks

 

Japan 11:04am BST

 

Next says UK faces wait for consumer recovery

 

10:38am BST

 

GKN profit rises on global jump in plane production

 

Aerospace & Defence 10:31am BST

 

Spain's Santander profit leaps even as Brazil falters

 

10:13am BST

 

Spain's Santander will look at purchase of bailed-out banks - CEO

 

10:13am BST

 

UBS draws line under 2008 bailout with fund buyback

 

10:10am BST

 

Drugmaker Pfizer's earnings just top forecasts

 

9:54am BST

 

BP scraps sale of U.S. wind farm business

 

9:53am BST

 

EDF says U.S. nuclear pullout won't impact UK plan

 

9:41am BST

 

South Korea court rules against Mitsubishi Heavy on forced labour

 

Japan 9:29am BST

 

Weir sees U.S. shale recovery offsetting weak mining

 

8:58am BST

 

Spain marks two years of contraction in second quarter

 

Spain 8:47am BST

 

Japan's ANA says to buy three Boeing 777s, one 767

 

Aerospace & Defence 8:36am BST

 

Domino's Pizza slows German expansion as losses hit profit

 

8:00am BST

 

Deutsche Bank's legal woes weigh on second-quarter earnings

 

7:54am BST

 

Exclusive - Petronas to delay $19 billion petrochemicals project to 2018

 

10:05am BST

 

Japan factory output drops, but recovery seen intact

 

Japan 7:50am BST

 

GKN profit up 5 percent on aerospace growth

 

Aerospace & Defence 7:47am BST

 

Fashion retailer Next lifts profit expectations

 

7:45am BST

 

Set top box maker Pace's profit triples on North American demand

 

7:27am BST

 

Broadcaster ITV sees summer advertising boost

 

7:25am BST

 

Weir profit down on falling orders for mining equipment

 

7:19am BST

 

Deutsche Bank may shed 250 billion euros to comply with bank rules

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

30 July 2013 Last updated at 17:26

 

 

Barclays shares hurt by cash call_69017148_69016696.jpg

 

Barclays shares closed nearly 6% lower after the bank said it would issue £5.8bn in shares to meet new Bank of England rules.

 

 

_69025766_69025027.jpgJP Morgan pays $410m in energy case

 

JP Morgan's energy unit has agreed to pay $410m to settle charges from the top US energy regulator that it had manipulated energy markets.

 

 

Housing benefit challenge fails

 

Disabled families lose a High Court challenge to social housing benefit cuts for residents with spare bedrooms in England, Wales and Scotland.

 

 

 

 

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 of England helped the Nazis to sell plundered gold

 

hitler_2631397g.jpg

The Bank of England helped the Nazis to sell gold plundered from Czechoslovakia before the outbreak of the Second World War, it has emerged.

31 Comments

UK economy close to 'escape velocity'

 

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Three of the country’s top economists believe the UK has turned the corner and growth should pick up quickly from here.

150 Comments

 

Barclays shares fall 7pc over £12.8bn hole

 

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Barclays shares tumble after it unveils plans to raise £5.8bn in a deeply discounted rights issue to help fill a £12.8bn capital hole as it set aside a further £2bn to mis-selling claims.

85 Comments

 

BT splits retail arm to focus on BSkyB battle

 

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Gavin Patterson, the incoming chief executive of BT, will split its its biggest division, BT Retail, in two as part of a restructuring to allow its consumer business to focus on intense competition from BSkyB and others.

2 Comments

Fertiliser prices to fall as potash cartel collapses

 

potash_2207168g.jpg

Farmers worldwide are expected to see fertiliser prices plunge by a quarter as the break up of a Russian potash cartel looks likely to spark a global price war.

2 Comments

EDF eyes nuclear decision 'by year end' - again

 

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EDF may not decide whether to build its planned £14bn Hinkley Point nuclear power plant in Somerset until the end of this year - a full year later than it had hoped, its chief executive has said.

1 Comment

BP warns Gulf spill costs will exceed $42.4bn

 

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BP’s bill for the Gulf of Mexico disaster is set to rise well above $42.4bn (£27.6bn), the oil giant warned on Tuesday, as it revealed it had just $300m left of funds it set aside to pay compensation.

48 Comments

 

Germans love our pizza claims Domino's boss

 

 

 

 

Booming passenger jet industry lifts GKN

 

 

 

 

Next: Shoppers are becoming harder to read

 

 

 

 

 

Monetarists see danger from 'Summers Fed'

 

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Fears Larry Summers will push for withdrawal of monetary stimulus and endanger America’s fragile recovery.

 

A Swedish warning

 

China cash injection soothes bank crisis fears

 

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Chinese central bank injects liquidity into the market for the first time since February.

3 Comments Banks revert to their key role

 

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Evidence that banks are beginning to increase lending to small businesses is encouraging.

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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With Fewer Barbarians at the Gate, Companies Face a New Pressure

 

By STEVEN M. DAVIDOFF 1:49 PM ET

 

Companies may no longer fear the threat of a hostile takeover, but their focus has shifted to activist investors.

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Harry Campbell

 

 

 

 

DealBook

 

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Barclays Plans to Raise Up to $12 Billion in New Capital

 

By MARK SCOTT 1:35 PM ET

 

Barclays, which has faced several scandals, has come under pressure from British authorities to improve its capital position.

 

Deutsche Bank’s Earnings Tumble on Legal Costs

UBS Profit Rose 32% in Second Quarter

Santander Profit Soars on Lower Charges

 

 

DealBook

 

Prosecutors Charge Technology Stock Analyst in SAC Case

 

By PETER LATTMAN 2:07 PM ET

 

A former technology analyst at the research firm Collins Stewart was charged with leaking secret information to at least two different hedge funds, including SAC Capital Advisors.

 

DealBook

 

dbpix-chase-thumbStandard-v2.jpg

JPMorgan Agrees to Pay $410 Million in Power Market Manipulation Case

 

By JESSICA SILVER-GREENBERG and BEN PROTESS 2:03 PM ET

 

The bank will settle allegations that traders in its Houston offices manipulated electricity markets in California and Michigan, a record pact for the Federal Energy Regulatory Commission.

 

DealBook

 

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Community Health Agrees to Buy H.M.A. for $3.6 Billion

 

By MICHAEL J. DE LA MERCED

 

The deal for about $3.6 billion in cash and stock is a long-expected union of two for-profit hospital systems.

 

31chrysler-thumbStandard.jpg

Chrysler’s Profit Rises 16% as Sales of Key Models Improve

 

By BILL VLASIC

 

The positive performance comes as Fiat and Chrysler move closer to completing a full merger of the two companies.

 

Economic Slowdown Is Expected, but It’s Seen as Fleeting

 

By NELSON D. SCHWARTZ

 

The performance of the economy in the second quarter is one of many guides to when the Fed will taper off its bond-buying.

 

 

BP Sharpens Legal Defense While Reporting Disappointing Earnings

 

By STANLEY REED 12:15 PM ET

 

The British oil company said it would not back down in a fight against settlement claims it viewed as false.

 

Millions in U.S. Subsidies Go to Dead Farmers

 

By RON NIXON 12:59 PM ET

 

A report by the Government Accountability Office found that the Agriculture Department lacked the proper controls to make sure the money it sent was going to the right people.

 

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OWN, Winfrey’s Cable Channel, Turns Around Financially

 

By BRIAN STELTER

 

After several grueling years, Oprah Winfrey’s cable channel OWN has turned around, her business partners at Discovery Communications said on Tuesday.

 

Bits Blog

 

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Apple Sued by Former Retail Workers for Unpaid Wages

 

By BRIAN X. CHEN 2:23 PM ET

 

Apple designs its retail stores to be a seamless shopping experience. But some of Apple’s former retail employees say working at the stores was less than smooth.

 

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Apps That Know What You Want, Before You Do

 

By CLAIRE CAIN MILLER

 

Technology companies are rushing into predictive search, developing apps like Google Now that process digital clues to anticipate what users want to know.

 

 

 

 

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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Bank Stealing Increases

Note the "headline" here...

Bank Revenues Surge on Trading Over What Fed Will Do

Diverging monetary policies are creating ideal conditions for banks to make money from trading currencies as Credit Suisse Group AG (CSGN) to Goldman Sachs (GS) Group Inc. say rising volatility is boosting earnings.

“If there’s higher volatility, there’s higher volume and higher opportunities for us to generate revenue,” Bernie Sinniah, the London-based global head of corporate foreign-exchange sales at Citigroup Inc. ©, the second-biggest currency trader, said in a phone interview.

How does a bank "generate revenue" from such activities?

 

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.

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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

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

Fed stays on track with bond buying, for now

 

7:52pm BST

 

IOC to introduce entourage doping sanctions - Bubka

 

7:52pm BST

 

U.S. stocks rise on Fed statement; dollar pares gain

 

FXpert 7:48pm BST

 

Credit Suisse to sell private equity business - sources

 

7:47pm BST

 

McKesson directors re-elected amid CEO pay controversy

 

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U.S. SEC amends responsibility rules for broker - dealers

 

7:11pm BST

 

Under fire, Goldman offers way round warehouse lines

 

7:03pm BST

 

Senators question U.S. energy market settlement with JPMorgan

 

6:49pm BST

 

Goldman Sachs COO says SAC Capital still 'important client' - CNBC

 

6:35pm BST

 

Finmeccanica confirms FY targets after Q2 net loss

 

6:24pm BST

 

No proof of bribery in Monte Paschi Antonveneta deal - prosecutor

 

6:22pm BST

 

Credit Suisse in talks to sell private equity unit - WSJ

 

6:21pm BST

 

Diageo close to reclaiming tequila position - executive

 

6:20pm BST

 

McKesson directors re-elected amid CEO pay controversy

 

6:04pm BST

 

Under pressure, Goldman offers customers access to aluminum

 

6:01pm BST

 

Billionaire investor Soros takes long position in Herbalife

 

6:01pm BST

 

FCA considers investigation of metals warehousing - sources

 

UK 5:57pm BST

 

BT takes on BSkyB sport to protect broadband business

 

Sports, Formula One, Olympics 2012 5:56pm BST

 

Britain's centuries-old Royal Mail eyes end of state control

 

UK, Aerospace & Defence 5:51pm BST

 

Goldman Sachs committed to Metro warehouse business - executive

 

5:48pm BST

 

China's ICBC targets commodity trade via StanBank unit purchase

 

5:41pm BST

 

U.S. economy finds momentum in second quarter, eyes further gains

 

5:37pm BST

 

Asia's King & Wood law firm, London's Berwin to merge

 

5:33pm BST

 

Job cuts loom as EADS changes name to Airbus | btn_rel_video.gif

 

Aerospace & Defence 5:31pm BST

 

Actelion buys U.S.-based specialty drugmaker Ceptaris

 

5:09pm BST

 

Fiat Industrial second-quarter net profit 328 million euros

 

4:59pm BST

 

FTSE boosted by gathering pace of U.S. GDP | btn_rel_video.gif

 

FXpert 4:47pm BST

 

Faroe Islands face EU sanctions over herring dispute

 

4:40pm BST

 

NBC Universal's fortune reversal lifts Comcast results

 

4:27pm BST

 

Russian tycoon Lebedev wins case against GE aircraft leasing unit

 

4:25pm BST

 

Diageo close to reclaiming tequila position - executive

 

4:11pm BST

 

Dell's buyout teeters as it rejects voting change

 

7:15pm BST

 

Jury begins deliberations in trial of former Goldman trader

 

3:57pm BST

 

U.S. ruling may step up Fiat's Chrysler buyout settlement

 

3:52pm BST

 

U.S. ruling may step up Fiat's Chrysler buyout settlement

 

3:39pm BST

 

Peugeot cutbacks tame cash burn, lifting shares

 

3:27pm BST

 

Exclusive - Russian billionaire seeks U.S. government financing for luxury jets

 

Aerospace & Defence 4:19pm BST

 

JP Morgan under investigation in Monte Paschi probe - document

 

3:19pm BST

 

Lufthansa profit boost plan faces market doubts

 

Aerospace & Defence 3:01pm BST

 

Germany makes big industry pay more for power grid

 

2:57pm BST

 

Cyprus 'on track' to meet aid programme terms - IMF

 

2:38pm BST

 

First fall in euro zone unemployment points to muted recovery

 

2:31pm BST

 

Brazil refused to back new IMF aid for Greece, says billions at risk

 

IMF 2:31pm BST

 

Fed to keep buying bonds, but may point to plans to taper

 

2:25pm BST

 

JP Morgan says acted correctly in Monte Paschi case

 

2:23pm BST

 

Analysis - ECB lending revamp risks more pain in Spain

 

Spain 2:18pm BST

 

OPEC oil output falls on Libya, Iraq turmoil-survey

 

2:17pm BST

 

HSBC hits regulatory issues over Iraq business exit

 

2:09pm BST

 

JP Morgan under investigation in Monte Paschi probe - document

 

2:03pm BST

 

Lithuania says EU says banking deal faces national hurdles

 

2:02pm BST

 

IBM cooperating with SEC on investigation of cloud revenue

 

1:50pm BST

 

MasterCard posts 21 percent rise in profit, shares rise

 

1:34pm BST

 

China, India gain upper hand as potash cartel crumbles

 

1:33pm BST

 

India pledges rupee action as currency nears fresh low

 

1:25pm BST

 

Spain's retail sales slump stretches to three years, hampering recovery

 

Spain 1:19pm BST

 

Comcast's second-quarter profit, revenue rises

 

1:06pm BST

 

DuPont gains hard-fought majority stake in South Africa seed company

 

Africa 1:03pm BST

 

Honda seeks to recover U.S. market share; Mazda, Subaru grow

 

1:01pm BST

 

Siemens names CFO to lead turnaround after dumping CEO

 

12:57pm BST

 

Delphi reports higher quarterly profit

 

12:53pm BST

 

Hyatt's profit jumps on strong US demand

 

12:41pm BST

 

Abenomics lifts Japan megabanks' profits but loans still weak

 

Japan 12:28pm BST

 

New bank Aldermore eyes acquisitions as profit surges

 

12:24pm BST

 

Qatar 787 back in air after 10-day outage - Flightaware

 

12:14pm BST

 

Schneider Electric agrees $5.2 billion takeover of Invensys

 

12:04pm BST

 

Fiat Industrial profit rises on farm machinery growth

 

12:00pm BST

 

Schneider Electric agrees $5.2 billion takeover of Invensys

 

11:59am BST

 

Suez cuts costs, eyes consolidation in EU waste industry

 

11:53am BST

 

Beijing offers growth assurance in its economic balancing act

 

11:51am BST

 

Japan PM seen keeping to sales tax schedule in crucial reform

 

Japan 11:49am BST

 

German economy minister welcomes EADS restructuring and name change

 

11:45am BST

 

Production halts in India hurt Vedanta's first-quarter results

 

11:43am BST

 

Siemens Q3 core profit misses expectations

 

11:33am BST

 

EADS to keep French space activities in France - strategy chief

 

11:29am BST

 

Exclusive - Pentagon's chief weapons buyer builds Japan ties as it eyes arms exports

 

Japan, Aerospace & Defence 11:27am BST

 

BNP Paribas plans Germany expansion after earnings fall

 

11:22am BST

 

Insight - Corporate sleuths on edge after China detains foreign consultants

 

11:08am BST

 

New UK bank Aldermore on acquisition trail

 

10:52am BST

 

Centrica says prefers U.S. for acquisitions

 

10:43am BST

 

U.S. drinkers offset slower emerging markets for Diageo

 

10:33am BST

 

Peugeot lifts cash target as cutbacks kick in

 

10:27am BST

 

BAT plans rapid e-cigarette expansion around world

 

10:24am BST

 

FCA says four arrested in market abuse probe

 

UK 10:14am BST

 

U.S. ruling could delay Fiat's Chrysler buyout

 

9:59am BST

 

Drop in German joblessness to bolster consumption

 

9:56am BST

 

VW says H1 Audi operating profit drops 8 pct to 2.64 billion euros

 

9:21am BST

 

Honda first quarter profit lower than expected, cautious on emerging markets

 

Japan 9:10am BST

 

Toshiba's quarterly profit misses forecasts, TVs and PCs weigh

 

8:44am BST

 

Panasonic: in talks with potential partners to sell part of healthcare unit

 

8:33am BST

 

Fiat's shares down in early trade after Delaware court ruling

 

8:19am BST

 

Schneider to review Invensys' appliance unit - CFO

 

8:16am BST

 

AstraZeneca in $815 million 'high altitude' anaemia pill deal

 

8:08am BST

 

BAT confident on full year growth as H1 sales rise

 

8:01am BST

 

New Diageo boss reaffirms medium-term outlook

 

8:00am BST

 

Peugeot lifts cash target as restructuring kicks in

 

7:57am BST

 

BHP faces $14 billion potash decision as price war looms

 

7:49am BST

 

Essentra profit rises on growth in cigarette filter division

 

7:46am BST

 

China underwhelms with salvo to slim bloated industry

 

7:45am BST

 

Segro posts flat net asset value in first half

 

7:40am BST

 

Taylor Wimpey profit jumps on improved UK housing market

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

Barclays fights FCA over Qatar fundraising

 

31 July 2013 12:00 AM

Bank will issue £5.8bn in shares to plug a £12.8bn capital shortfall

 

 

 

City law firm SJ Berwin’s £1bn international merger positions it for ‘the Asian century’

 

31 July 2013 02:42 PM

City law firm SJ Berwin today sealed a $1 billion (£650 million) tie-up with Asia-based rival King & Wood Mallesons.

 

 

 

France’s Schneider agrees £3.4bn takeover of Invensys

 

31 July 2013 11:19 AM

France's Schneider Electric has agreed a £3.4 billion deal for Invensys in a move that could lead to jobs cuts for UK workers.

 

 

 

Airbus-AP.jpg

EADS changes name to Airbus in bid for Boeing competition

 

31 July 2013 09:26 AM

Airbus Group will combine its defence and space activities in one division with Airbus Military transporters

 

 

 

Nazi-gold-GETTY.jpg

Documents reveal Bank of England sold stolen gold for Nazis

 

31 July 2013 07:44 AM

Archived material details how gold bars plundered from Czechoslovakia were sold on behalf of Germany's central bank in 1939

 

 

 

British-gas-Centrica-PA.jpg

British Gas owner Centrica criticises tax regime as it announces residential profits of £356m

 

31 July 2013 07:24 AM

Residential arm sees 3.2% rise after raising tariffs in December

 

 

 

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Traditional three-year university is not only path to top, CBI tells teenagers

 

31 July 2013 12:00 AM

Teenagers should be told to drop the idea that a traditional three-year university degree course is the only route to a top job, Britain’s businesses warn today.

 

 

 

Slowing US economy likely to be boosted as Washington eases belt-tightening

 

31 July 2013 06:28 PM

Tighter fiscal policy and sluggish global demand, which has dampened exports, are seen as having hobbled the economy in the April-June period

 

 

 

BAT aims to lead growing market for e-cigarettes market

 

31 July 2013 02:34 PM

British America Tobacco is aiming to become the UK’s lead supplier of e-cigarettes after it became the first major tobacco company to put them on sale this week.

 

 

 

Diageo’s luxury brands mask Guinness slump

 

31 July 2013 02:32 PM

Britons are splashing out on upmarket spirits like Ciroc vodka — a favoured tipple of Prince Harry — even as Guinness sales struggle, the world’s biggest drinks company said today.

 

 

 

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Buckingham Palace employs summer staff on 'zero-hours' contracts

 

31 July 2013 12:25 PM

Part-time staff are not guaranteed any hours but have to agree not to work for anyone else

 

 

 

'Sort out your stepchild': Activist takes aim at Sony Entertainment

 

31 July 2013 12:00 AM

The activist investor calling for Sony to spin off its film and music business tore into Sony Entertainment's management yesterday, saying the division was treated like a "red-headed stepchild".

 

 

 

Downton trumps the downturn as rise in optimism boosts ITV

 

31 July 2013 12:00 AM

ITV's chief executive Adam Crozier hiked the dividend almost 40 per cent and reported that advertisers are feeling "more confidence and positivity" about the UK economy yesterday, sending shares in the broadcaster up 6 per cent to a record high.

 

 

 

Sun comes out for Next as shares break through £50

 

31 July 2013 12:00 AM

Shares in the fashion chain Next hit a record high yesterday as the FTSE 100 company cheered the City with raised profit forecasts.

 

 

 

GKN profits take off on back of plane sales

 

31 July 2013 12:00 AM

A record number of new planes in production boosted profits at the engineer GKN during the first half of the year.

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

31 July 2013 Last updated at 19:46

 

 

US economic growth beats forecasts_69043748_69043739.jpg

 

The US economy grew at an annualised pace of 1.7% in the second quarter of the year, more than expected, official figures show.

 

 

_69034025_hi017976432.jpgBritish Gas in price rise warning

 

British Gas owner Centrica has warned that UK domestic energy bills could go up again this winter, as it reported a rise in half year profits.

 

 

 

_69051704_170869302.jpgUS central bank predicts more growth

 

The Federal Reserve maintains its bond-buying programme and predicts a pick-up in growth in the US economy.

 

 

 

 

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

The Power Behind the Throne at the Federal Reserve

 

By JESSE EISINGER 12:43 PM ET

 

Few outside the world of banking regulation understand the influence held by the staff of the Federal Reserve, including its general counsel, Scott G. Alvarez.

dbpix-scott-alvarez-sfSpan.jpg

Carolyn Kaster/Associated Press

 

Scott G. Alvarez, the general counsel of the Federal Reserve.

 

 

 

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Fed Meeting Ends With No Sign of New Direction

 

By BINYAMIN APPELBAUM 2:06 PM ET

 

The Federal Reserve announced no changes after the latest meeting of its policy-making committee and offered no indication how soon it might start to reduce its monthly bond purchases.

 

 

 

 

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U.S. Economy Grew at 1.7% Rate in 2nd Quarter, Faster Than Expected

 

By NELSON D. SCHWARTZ 1:31 PM ET

 

The increase in the gross domestic product was hardly indicative of boom times, but it showed an improvement from earlier this year.

 

 

 

 

 

 

Facebook Briefly Trades Above I.P.O. Price

 

By VINDU GOEL 12:52 PM ET

 

The company’s shares have risen more than 40 percent since the company reported a surprisingly strong earnings report last week.

 

 

 

DealBook

 

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Over a Million Are Denied Bank Accounts for Past Errors

 

By JESSICA SILVER-GREENBERG

 

Mistakes like a bounced check or a small overdraft have effectively blacklisted many Americans from the financial system, leading to fees for paying bills, cashing checks and wiring money.

 

 

DealBook

 

Jury Begins Deliberations in Tourre Trial

 

By MICHAEL J. DE LA MERCED and SUSANNE CRAIG 1:46 PM ET

 

Deliberations in the lawsuit against Fabrice Tourre, a former Goldman Sachs trader accused of misleading investors, set up the end a most prominent cases from the financial crisis.

 

DealBook

 

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Dell Won’t Alter Voting Rules on Buyout Offer

 

By MICHAEL J. DE LA MERCED 1:22 PM ET

 

A special committee of Dell’s board said that it would be willing to accept the latest takeover bid by its founder if he dropped his demand for a change to the voting rules.

 

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Warrantless Cellphone Tracking Is Upheld

 

By SOMINI SENGUPTA

 

The ruling is the first to address the constitutionality of warrantless searches of historical location data stored by cellphone service providers.

 

 

Comcast Profit Jumps 28.6% on Growth of Broadband

 

By BRIAN STELTER 1:18 PM ET

 

Comcast’s second-quarter earnings rose to $1.7 billion, exceeding analysts’ estimates, helped by the continued growth of the company’s broadband Internet and business products.

 

DealBook

 

dbpix-bill-ackman-thumbStandard.jpg

Ackman Acquires 9.8% Stake in Air Products

 

By WILLIAM ALDEN 12:43 PM ET

 

The $2.2 billion bet on Air Products and Chemicals, a producer of industrial gases, is the largest ever made by William A. Ackman’s firm, Pershing Square Capital Management.

 

01siemens-thumbStandard.jpg

New Siemens Chief Sees Weakness in China

 

By JACK EWING 12:24 PM ET

 

Joe Kaeser, who had been chief financial officer of the German engineering giant, said that “the economic reorientation of China will take time.’'

 

NEC to Exit Japanese Smartphone Market

 

By ERIC PFANNER 12:48 PM ET

 

The former leading mobile phone maker in Japan had watched its share of the domestic market dwindle to 5.3 percent, down from 28 percent in 2001.

 

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As Work Habits Change, Software Makers Rush to Innovate

 

By QUENTIN HARDY

 

An increasing focus on office collaboration is creating opportunities for software giants like Microsoft and Google and start-ups like Quip.

 

 

 

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

Federal Reserve keeps rates and QE on hold, warns on inflation

 

bernanke_2632426g.jpg

US central bank says inflation below 2pc "could pose risks to economic performance" as better-than-expected GDP growth of 1.7pc in the second quarter sees dollar spike higher.

64 Comments

British Gas to offer 'free power Saturdays'

 

gas_2591045g.jpg

British Gas is planning to offer customers “free electricity” on Saturdays, in a radical step it claims will benefit the poorest families and could actually help cut carbon emissions.

Comment

 

NFU backs Sainsbury's in price-matching row

 

combine_2632266g.jpg

The National Farmers' Union has backed Sainsbury's in its row with supermarket rival Tesco over its Price Promise promotion.

8 Comments

Brazil blasts IMF's £1.6bn aid to Greece

 

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Brazil has angrily attacked last week's £1.6bn International Monetary Fund payment to Greece on the same day as a report from the fund identified a new £9.6bn black hole in Greek finances.

36 Comments

 

Lord Sugar wins £1m loan repayment

 

Alan-Sugar_2505159g.jpg

Lord Sugar is to receive full repayment of a £1m interest-free loan he made to the Hackney Empire after the theatre triumphed in a long-running legal battle with the insurance giant Aviva.

2 Comments

Streamline glitch hits thousands of firms

 

CHIPnPIN_1793670g.jpg

Businesses across the country have been left out of pocket as a result of technical problems at the UK’s largest payment processing businesses, which is partly owned by Royal Bank of Scotland.

4 Comments

EADS changes name to Airbus in shake-up

 

 

 

 

Investors to list £1.5bn vehicle to buy RBS unit

 

 

 

 

Invensys agrees to £3.4bn Schneider takeover

 

 

 

 

CPP saved by banks a year after mis-selling fine

 

 

 

 

 

A Swedish warning

 

Federal Reserve holds rates and QE: the full text

 

Fed_2632437g.jpg

The Federal Reserve has kept interest rates and QE on hold but warned on inflation. Here is the full text from the US central bank.

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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Fed Statement: No Taper This Time

From the ClownCar Fed:

Release Date: July 31, 2013

For immediate release

 

Information received since the Federal Open Market Committee met in June suggests that economic activity expanded at a modest pace during the first half of the year. Labor market conditions have shown further improvement in recent months, on balance, but the unemployment rate remains elevated. Household spending and business fixed investment advanced, and the housing sector has been strengthening, but mortgage rates have risen somewhat and fiscal policy is restraining economic growth. Partly reflecting transitory influences, inflation has been running below the Committee's longer-run objective, but longer-term inflation expectations have remained stable.

rofl.gif

So the monetary balance figure has not changed from Q4/2007 to Q1/2013 (ratio of debt to GDP) and yet we cannot generate growth even by replacing all of the private credit creation with QE.

In other words the same thing that caused the detonation in 2007 is still present in the same strength!

 

More at the link.

 

Just like in the 30's depression where the Fed prevented malinvestments from being discovered and purged they are doing the same again. The trouble is eventually this manipulation will fail and the longer they keep this up the bigger the collapse.

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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GDP 2Q (Oops)

Hmmmmm...

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 1.7 percent in the second quarter of 2013 (that is, from the first quarter to the second quarter), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 1.1 percent (revised).

Let's have a look inside.

Caution: The 1.8 from the first quarter was revised downward to 1.1. The market is not liking that either -- and is definitely not better than expected.

PCE was up 1.8% in the second quarter, compared to 2.3% in the first quarter -- that is, moving downward. Worse, services was only up 0.9% (and is the majority of the economy) where it was claimed to be +1.5% last quarter.

 

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.

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