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Global stocks, euro slide on Greece default fears

 

NEW YORK - World stocks fell on Monday and the euro slid to an 8-1/2 month low versus the dollar as growing fears of a Greek default stoked appetite for safe-haven U.S. Treasury bonds

 

 

 

Interview - UK may face more fiscal pain after 2015 - IFS

 

MANCHESTER - Britain is likely to face a further fiscal squeeze after the 2015 election because the economy is not growing as fast as the coalition government had hoped, the head of an influential think tank told Reuters on Monday.

4:04pm BST

 

Berezovsky and Abramovich face off in court

 

LONDON - Chelsea Football Club owner Roman Abramovich "betrayed and blackmailed" fellow Russian oligarch Boris Berezovsky into selling cheaply a valuable stake in an energy company, Berezovsky's lawyer told Britain's High Court on Monday.

Sports 5:28pm BST

 

Exclusive - RBS £1.4 billion property loan sale may fail

 

LONDON - A 1.4 billion pound deal between Royal Bank of Scotland and Blackstone to rid the bank of some of its troubled property loans may fail, robbing the industry of a template for similar transactions, three sources said.

3:52pm BST

 

Surprise pick-up in factory PMI dims October QE hopes

 

LONDON - British manufacturing activity unexpectedly grew for the first time in three months in September, a survey showed on Monday, denting expectations the Bank of England will inject more stimulus to boost the economy this week. | Video

UK, 1:43pm BST

 

Osborne flags new scheme to allow credit easing

 

MANCHESTER, England - Chancellor George Osborne flagged a new scheme on Monday to funnel lending directly to companies starved of credit by banks, trying to get economic growth back on track without breaking his pledge to cut public spending.

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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3 October 2011 Last updated at 18:11

 

No temporary tax cuts - Osborne_55794849_013075369-1.jpg

 

Chancellor George Osborne rejects calls for temporary tax cuts to boost growth in a speech to the Conservative Party conference. 659

 

 

_55783854_013052232-1.jpgShares fall on Greek deficit fear

 

European stock markets fall on news that Greece is likely to miss targets to cut its budget deficit.

 

 

 

Surprise growth in manufacturing

 

The UK manufacturing sector returned to growth in September for the first time in three months, a survey suggests.

 

 

 

 

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]

 

FTSE falls 1pc as fear of Greek default triggers flight to safety

 

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Wall Street joins international stock market tumble after Greece sparks growth fears by warning it will miss deficit targets, while George Osborne aids business with monetary activism.

George Osborne's speech: the highlights

 

 

Chancellor by-passes banks to 'ease' business credit

 

 

 

 

Manufacturing boost lifts recovery hopes

 

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A surprise resurgence in manufacturing has provided some respite from the relentlessly bad news on the recovery.

US manufacturing growth offers hope for economy

 

 

 

Moody's threatens to downgrade Dexia

 

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Shares in Dexia fell more than 10pc on Monday as fears grew that the Franco-Belgian lender may need a bailout three years after being rescued by the authorities during the last financial crisis.

Banking crisis set to trigger new credit crunch

 

 

Deutsche Bank chief says politicians risk upsetting 'social fabric'

 

 

 

EU politicians plot to block UK 'Tobin tax' veto

 

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A group of European politicians is plotting to impose the financial transaction tax (FTT) in a way that Britain would be powerless to veto, a British MEP has warned.

 

PwC world's biggest accounting company

 

PricewaterhouseCoopers has once again become the world's biggest accounting firm after a 10pc jump in sales and the announcement of its plans to hire 20,000 graduates.

 

HSBC backs down over Jordan job cuts after staff strike

 

 

 

 

Starbucks asks customers to donate to US jobs fund

 

 

 

 

Qatari wealth fund plans $10bn gold spree

 

 

 

 

Buffett: 'unloved' bankers shun Obama

 

 

 

 

Enterprise zones set up to help BAE staff

 

 

Credit easing: Q&A

 

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Chancellor George Osborne has set out a series of measures to boost economic growth, but the plans disappointed critics hoping for a more far-reaching programme to kickstart the faltering economy.

Debt crisis: live

 

 

 

 

George Osborne's speech: the highlights

 

 

 

 

Chancellor by-passes banks to 'ease' business credit

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

Car Sales Jumped in September

 

By NICK BUNKLEY 36 minutes ago

 

 

General Motors and Chrysler report double-digit increases, while Ford sales rose 9 percent.

 

 

 

04auto-span-sfSpan.jpg

Scott Olson/Getty Images

 

Chevrolet vehicles on sale at a dealership in Forest Park, Ill., in August.

 

 

 

 

 

 

Wall Street Slump Lingers

 

By JOSHUA BRUSTEIN and DAVID JOLLY 1:11 PM ET

 

While stocks continued their descent, the dollar gained against most major currencies, as investors moved out of relatively risky assets.

 

 

Euro Zone Finance Ministers Press Greece to Meet Aid Targets

 

By STEPHEN CASTLE 42 minutes ago

 

The ministers are meeting to decide whether to release the next installment of aid to Greece.

 

 

Media Decoder Blog

 

ABC News and Yahoo News Announce Content Deal

 

By BRIAN STELTER 24 minutes ago

 

Yahoo News, which has more unique visitors than any other news Web site, is partnering with ABC News to share stories and feature Web video series.

 

 

‘Diggnation,’ Popular Web Talk Show, to End in December

 

By BRIAN STELTER 1:53 PM ET

 

The show’s founders, Kevin Rose and Alex Albrecht, say they’re ready for other pursuits after six years.

 

DealBook

 

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Carlyle Joins Hellman & Friedman in $3.9 Billion Deal for Drug Research Firm

 

By PETER LATTMAN

 

The private equity firms agreed to buy Pharmaceutical Product Development, a medical research company.

 

A U.S.-Backed Geothermal Plant in Nevada Struggles

 

By ERIC LIPTON and CLIFFORD KRAUSS

 

Like Solyndra, the now-famous California solar company, Nevada Geothermal Power is facing financial trouble after encountering problems at its only operating plant.

 

04autolib-span-thumbStandard.jpg

Paris Tests Short-Term Rentals of Electric Cars

 

By DAVID JOLLY 56 minutes ago

 

Promoters of the project, a variation on a popular bicycle rental program, aim to have thousands of vehicles available by 2012.

E-Mails Reveal Early White House Worries Over Solyndra

 

By ERIC LIPTON and MATTHEW L. WALD 1 minute ago

 

New e-mails provided to Congressional investigators show White House officials expressed concern that Solyndra might collapse months before it did.

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

More Validation for Tickerguy: Consumer Debt

 

Now this is funny....

Federal policy makers, they suggest, should broker what amounts to an out-of-court settlement between institutional bond investors, banks and consumer advocates - essentially, a "great haircut" to jumpstart the economy.

What some are envisioning is a negotiated process in which cash-strapped homeowners get real mortgage relief, even if it means forcing banks to incur severe write-downs and bond investors to absorb haircuts, or losses, in some of the securities sold by those institutions.

"We've put this off for too long," said L. Randall Wray, a professor of economics at the University of Missouri-Kansas City.

You're just figuring this out now? What was your clue? Did you look at one of my charts, perhaps?

 

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

What Is Risked When Prosecution Is Absent

 

I have long mused, in fact since the beginning of this blog, about one primary question:

What happens when the people discern that the government is nothing more than a band of felons instead of the cops?

Many considered this a rhetorical question. Those on the left sneered, those on the right looked at the argument and scoffed: Oh no, look, we busted Marco over there for drug running last week.

Ah, you did, but Wachovia you did not "bust" in a criminal sense, even though they admitted in court that they ran drug money for criminal cartels.

 

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

http://uk.reuters.com/article/2011/10/04/uk-eurozone-idUKTRE7921RH20111004

 

European finance ministers agreed on Tuesday to prepare action to safeguard their banks as doubts grew about whether a planned second bailout package for debt-laden Greece would go ahead.

 

Collapsing confidence in French-Belgian municipal lender Dexia SA, which hours earlier became the first European bank to have to be bailed out due to the euro zone's sovereign debt crisis, looked to have concentrated minds.

 

"Everyone said the big concern is that worrying developments on the financial markets will escalate into a banking crisis," German Finance Minister Wolfgang Schaeuble told a news conference after EU ministers met in Luxembourg.

 

The growing prospect of a default by Greece in the coming months has stoked fears of a major banking crisis in Europe that would aggravate the global economic slowdown.

 

Dexia will effectively be broken up, with the sale of healthier operations while toxic assets, including Greek and other peripheral euro zone government bonds, will be placed in a state-supported "bad bank."

 

Nice the profitable stuff gets sold on and the losses get socialised onto the taxpayer.

 

But I'm more relieved to know the EU is acting together and minds have been concentrated, probably on each nations national interest but concentrated they have been. We can all rest assured the crisis will be averted and the taxpayer will pick up all the losses.

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

4 October 2011 Last updated at 20:00

 

Eurozone delays Greek loan choice_55809437_013052232-1.jpg

 

Markets tumble again as Eurozone finance ministers delay a decision on giving Greece the next instalment of bailout cash.

 

 

_55825987_timcook_getty.jpgiPhone 4S announced by Apple New

 

Apple has announced the latest version of its popular iPhone range at a special event at its Californian headquarters.

 

 

 

_51090471_pubfooty_030211_interview.jpgLandlady wins TV football ruling

 

A pub landlady wins the latest stage of her legal fight with the English Premier League over the use of a foreign TV decoder to screen games. 678

 

 

 

 

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]

 

FTSE 100 closes below 5,000 for first time since July 2010

 

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The FTSE lost 2.58pc, with the Dow Jones down 0.75pc in afternoon trading, amid fears of contagion after eurozone leaders warned banks may take bigger losses on Greek debt.

FTSE 100 closes below 5,000 for first time since July 2010

 

 

Eurozone to increase private sector burden in £136bn Greek bailout

 

 

 

 

Dexia shares hit all-time low despite 'guarantee'

 

dexia_2017309g.jpg

Shares in Dexia have hit an all-time low despite a joint statement of support for the troubled Franco-Belgian lender from the French and Belgian finance ministers.

Who's next as Dexia takes first step towards rescue?

 

 

UBS set for 'modest' profit despite £1.4bn rogue trade loss

 

 

Banking crisis set to trigger new credit crunch

 

 

 

US is 'innocent bystander' in euro debt crisis

 

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Federal Reserve chairman Ben Bernanke has said that US authorities are 'innocent bystanders' as European leaders grapple with a debt crisis that is now damaging confidence in the world's biggest economy.

 

Sky hit as pub landlady wins TV football fight

 

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BSkyB saw its shares fall 2.7pc after the European Court of Justice ruled in favour of a pub landlady who had used a Greek TV decoder to show Premier League matches.

 

RBS warns it may miss returns targets

 

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Royal Bank of Scotland has been forced to admit it might not be able to meet its targeted return due to tougher-than-expected market conditions.

 

UK managers expect double-dip recession

 

 

 

 

IAG chief Willie Walsh calls for end to Air Passenger Duty

 

 

 

 

Aldi profits jump as shoppers seek bargains

 

 

 

 

Bank of England clash over liquidity buffers

 

 

 

 

Wolseley returns to profits but warns on flagging recovery

 

 

Debt crisis: live

 

oct3-montage_2017334g.jpg

live_icon.png

Eurozone ministers indicate Greek bondholders may have to take bigger losses on their debts, although deny there will be a default, as markets fall again and Wall Street enters a bear market.

Eurozone to increase private sector burden in £136bn Greek bailout

 

 

 

 

City Desk Morning Briefing - Monday

 

 

 

 

MEPs plot to impose financial transaction tax on UK

 

 

Osborne raises two cheers, but 'game changer’ on growth still needed

 

 

Who's next as Dexia takes first step towards rescue?

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

Shares Skittish on Greece Fears

 

By JOSHUA BRUSTEIN 1:08 PM ET

 

 

The Standard & Poor’s-500 stock index officially traded in bear market territory, as European markets again fell sharply.

 

 

 

 

 

 

api.asp?sym=$DJI&duration=1&chartstyle=SectionFront&w=395&h=230&display=fillclose&topLabel=Dow%20Industrials

 

 

 

 

 

 

Bits

 

05iphone2-thumbStandard.jpg

Apple Unveils iPhone 4S With Voice-Recognition Features

 

By SAM GROBART 6 minutes ago

 

Updates from Apple’s headquarters, where Timothy D. Cook took the stage to discuss what innovations the company has in mind for the iPhone.

 

 

05fed-span-thumbStandard.jpg

Fed Chief Raises Doubts on Recovery

 

By BINYAMIN APPELBAUM 11:22 AM ET

 

Ben S. Bernanke told a Congressional committee that the Federal Reserve stood ready to do more to support growth, but said the rest of the government also needs to act.

 

 

05euro-span-thumbStandard.jpg

Europe Finds Slope Ahead Is Growing Ever Steeper

 

By LIZ ALDERMAN AND JACK EWING 18 minutes ago

 

The worsening sovereign debt crisis threatens to send the euro zone into its second recession in three years.

 

 

Under U.A.W. Deal, Ford to Add Jobs

 

By NICK BUNKLEY 1:19 PM ET

 

Under the tentative agreement, Ford would add 12,000 hourly jobs in the United States over four years and invest $6.2 billion in American factories.

 

DealBook

 

European Regulators Tell NYSE and Deutsche Börse of Merger Concerns

 

By DAVID JOLLY

 

The European Commission has issued a statement of objections as part of its review of the proposed $9 billion deal.

 

Prescriptions Blog

 

Doctors Grow Wary of Avastin for Eye Treatment

 

By ANDREW POLLACK

 

A spate of infections, leaving some patients blind, has caused some physicians to choose the more expensive Lucentis for eye disease in the elderly.

 

DealBook

 

dbpix-company-deutsche-bank-thumbStandard.jpg

Deutsche Bank to Miss Profit Goal

 

By JACK EWING

 

Deutsche Bank joined a growing list of banks buffeted by the sovereign debt crisis on Tuesday, saying it would not meet its profit target for the year.

 

DealBook

 

UBS Expects 'Modest' Profit Despite Trading Scandal

 

By JULIA WERDIGIER

 

The embattled Swiss bank UBS says it will post a third-quarter profit despite a $2.3 billion loss from unauthorized trades discovered last month.

 

China Criticizes U.S. Senate’s Currency Manipulation Bill

 

By RICK GLADSTONE 30 minutes ago

 

The Senate bill would threaten to impose higher tariffs on some Chinese goods over its currency policies.

 

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Fannie Mae Knew Early of Abuses, Report Says

 

By GRETCHEN MORGENSON

 

Fannie Mae, the mortgage finance giant, learned as early as 2003 of extensive foreclosure abuses, but did little to correct the practices, according to a new report.

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

U.S. "close to faltering", Fed ready to act - Bernanke

 

7:37pm BST

WASHINGTON - The Federal Reserve is prepared to take further steps to help an economy that is "close to faltering", Fed chairman Ben Bernanke said on Tuesday in his bleakest assessment yet of the fragile U.S. recovery.

FTSE sinks to 15-month closing low on Greece

 

LONDON - The FTSE 100 hit a 15-month closing low on Tuesday, with banks and commodity stocks leading a broad-based sell-off, as growing doubts over Greece's ability to stave off a debt default triggered fears of financial turmoil.

 

 

U.S. stocks flirt with bear market

 

NEW YORK - U.S. stocks were on the verge of bear market territory on Tuesday, and U.S. crude oil prices fell to a 2011 low as investors worried about the economic implications of an increasingly likely Greek default.

7:03pm BST

 

EU to object to DeutscheBoerse/NYSE deal - sources

 

BRUSSELS - EU regulators will formally object this week to the planned merger of Deutsche Boerse and NYSE Euronext , two sources with knowledge of the case said, which may force the companies to offer concessions to ease competition concerns.

5:11pm BST

 

ECB seen leaving rates on hold as Trichet bows out

 

FRANKFURT - The European Central Bank is likely to leave interest rates unchanged when it holds the last policy meeting of Jean-Claude Trichet's presidency on Thursday, but may open the door to a cut under his successor and reintroduce some of its most potent crisis-fighting weapons.

3:27pm BST

 

Financial regulator eyes delay for insurers' capital rules

 

LONDON, OCT 4 - Britain's financial regulator on Tuesday said it assumed new capital rules for European insurers would come into force a year late in January 2014, pre-empting a widely-expected official postponement, and dispelling uncertainty over how long UK firms have to get ready.

4:54pm BST

 

Top Republican says U.S. bill on China yuan "dangerous"

 

WASHINGTON - A U.S. bill to pressure China into letting its currency rise in value, which has drawn warnings from Beijing of a possible trade war, ran into opposition from the top Republican in Congress on Tuesday.

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

Oh It's Not 2008 Eh?

 

That's what all the crooners want you to believe.

Today is 10/4. Yesterday the S&P closed at 1099.

It also closed at 1099 on that same day in 2008.

Over the next month and a half it would fall to 750, rally for a couple of months to about 900, and then collapse to 666.

Are we about to have a repeat - or a rhyme?

Good question. This much is not in question - we were down massively yesterday, and today Europe's DAX, as I write this, is off a further 34%. (ed: oops - that 3% was good for 20 minutes; now it's 4%)

 

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

Financials, commods lift FTSE higher

 

LONDON - Rallies by hard-pressed banks, insurers and commodity stocks led a bounce back by the top shares Wednesday as support for debt-laden Greece revived investor appetite for riskier assets.

 

Exclusive - Microsoft considers bidding for Yahoo

 

- Microsoft Corp is considering a bid for Yahoo Inc, resurfacing as a potential buyer after a bitter and unsuccessful fight to take over the Internet company in 2008, sources close to the situation said on Wednesday.

8:06pm BST

 

UK credit easing no cure for QE's limits

 

LONDON - British government plans for some form of 'credit easing' to channel loans directly to businesses could tackle one major shortfall in the Bank of England's quantitative easing policy, but may be too little, too late to really lift growth.

4:44pm BST

 

Carpe Deal: Bronfman has best chance ever to buy EMI

 

NEW YORK - Warner Music Group Chairman Edgar Bronfman Jr. has tried to buy rival record label EMI Group for the last six years. Now, his time may have come.

7:12pm BST

 

IMF floats euro zone bond-buying idea, backs away

 

BRUSSELS - An International Monetary Fund official said on Wednesday the global lender could buy Spanish or Italian bonds alongside a euro zone bailout fund, but he later appeared to back away from his own suggestion.

IMF 6:55pm BST

 

Belgium's PM sees decision on Dexia within days

 

BRUSSELS - Belgian Prime Minister Yves Leterme sees a decision on the future of Franco Belgian bank Dexia within days rather than weeks, he said in a television interview on Wednesday.

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

5 October 2011 Last updated at 18:38

 

UK economic growth revised down_54835554_006887773-1.jpg

 

The UK economy grew by 0.1% between April and June, official figures show, less than the 0.2% estimated previously.

 

 

Tesco profits grow but UK subdued

 

Supermarket group Tesco reports a rise in half-year profits despite a fall in underlying UK sales, while rival Sainsbury's posts slightly better sales. 274

 

 

 

_55840047_013082610-1.jpgIMF warns on drastic budget cuts

 

Eurozone service sector growth contracts, as the IMF warns the stronger economies must avoid imposing drastic budget cuts at the expense of growth.

 

 

 

 

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]

 

Markets rally on hope of eurozone bank recapitalisation plan from EC

 

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FTSE 100 jumps 3.19pc, CAC and DAX both above 4pc, as rally in European shares gathers pace on hopes for EU action to contain the eurozone debt crisis.

Merkel backs moves to recapitalise eurozone banks

 

 

Markets bounce on European bank bail-out hopes

 

 

IMF 'can't rule out' recession in 2012

 

 

Moody's downgrades Italy by three notches

 

 

 

 

Recession deeper and shorter than expected

 

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Britain suffered a deeper and shorter recession than previously thought and is recovering even more slowly than had been believed, the ONS said.

UK GDP grows just 0.1pc - reaction

 

 

Surprise pick-up in UK services growth

 

 

Bank of England 'causes inflation'

 

 

 

Businesses urge Cameron to 'commit to Plan A+'

 

cameron_2019122g.jpg

Business leaders have urged David Cameron for 'specific, direct measures' to boost the economy and called for the Coalition to 'commit to Plan A+' by next month.

 

Stop being 'gloomy', Sainsbury's urges Cameron

 

sainsbury_1870010g.jpg

Justin King, the chief executive of J Sainsbury, warned politicians to stop "talking down" the economy, as the supermarket chain posted a good set of sales figures, suggesting it was taking market share from rivals.

Tesco sales slump into negative territory

 

 

 

SuperGroup share plunge blamed on IT

 

Shares in SuperGroup plunged almost 30pc to 707p following a profits warning - prompting a row about the sale of £6m-worth of shares by management just 10 days ago.

 

Video games contribute £1bn to UK economy

 

 

 

 

UK wins battle to stop EU financial regulation

 

 

 

 

North Sea oil producer Premier bids £221m for EnCore

 

 

RBS is our bank, so we should change what we do with it

 

 

Burberry's Chinese push is at risk of becoming unfashionable

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

Reid Proposes Surtax on ‘the Richest’ to Pay for Jobs Plan

 

By ROBERT PEAR 1:53 PM ET

 

The 5 percent levy on incomes of more than $1 million has little chance of passing, but Democratic leaders hope it draws a contrast with Republicans who have opposed the tax.

 

Hope Rising, Stores Hire for Holidays

 

By STEPHANIE CLIFFORD

 

 

Many major retailers plan to hire more workers during the lucrative holiday season, a reflection of statistics that show consumers just keep shopping despite the troubled economy.

 

 

 

 

HIRE-sfSpan.jpg

Emile Wamsteker/Bloomberg News

 

Jennifer Logan, a Sam's Club recruiter, right, talked with Ernest Ducton at a job fair in New York on Sunday.

 

 

 

 

 

 

Wall Street Follows European Markets Higher

 

By JOSHUA BRUSTEIN and DAVID JOLLY 2:07 PM ET

 

New York stocks opened weaker but gained ground through the afternoon and stocks in Europe broke a three-day losing streak.

 

 

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Greek Workers Strike to Protest Austerity Program

 

By NIKI KITSANTONIS 8:41 AM ET

 

Thousands of Greeks walked off the job on Wednesday to protest a relentless austerity drive by a government that is struggling to avert a default.

 

 

Fed Sees Progress in Bank Compensation Plans

 

By ERIC DASH 11:42 AM ET

 

The Federal Reserve’s long-awaited report said that big banks had taken significant steps in deferring a greater portion of compensation and shifting more pay in the form of stock.

 

Media Decoder Blog

 

Hulu to Stream Univision Shows

 

By BRIAN STELTER

 

In a deal to be announced on Wednesday and to be implemented later this year, Hulu will have a selection of telenovelas and other shows from Univision, the leading Spanish language network in the United States.

 

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IPhone Gets Its Upgrade, All Under the Hood

 

By NICK WINGFIELD

 

Although the new phone is virtually indistinguishable from its predecessor on the outside, the company says the iPhone 4S is packed with better technical innards, including a more advanced camera.

 

 

Samsung to Seek Block on iPhone in Europe

 

By CHOE SANG-HUN 7:28 AM ET

 

The South Korean electronics company said it would pursue legal action to prevent sales of the new 4S model in France and Italy, alleging patent violations.

 

DealBook

 

Morgan Tries to Quell Rumors About Its Holdings

 

By SUSANNE CRAIG

 

Morgan Stanley executives have been rallying employees and talking to the company’s biggest shareholders to try to stem a sharp slide in the company’s stock.

 

Friendly’s Files for Bankruptcy Protection

 

By THE ASSOCIATED PRESS 1:04 PM ET

 

The 76-year-old company, known for its ice cream and hamburgers, has already closed 63 of its restaurants, the company said Wednesday.

 

U.S. and New York Sue Bank of New York Mellon Over Foreign Exchange Fees

 

By ERIC DASH and PETER LATTMAN

 

In separate suits, New York’s attorney general and the United States attorney in Manhattan say the bank it overcharged customers almost $2 billion in foreign transactions.

 

 

As Economies Slow, Price of Gas Falls

 

By CLIFFORD KRAUSS

 

The price of a gallon of regular has fallen nearly a penny a day over the last four weeks, averaging $3.41 nationwide on Tuesday.

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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ADP / Challenger: Whassup In There?

Hmmm.....

Employment in the U.S. nonfarm private business sector increased by 91,000 from August to September on a seasonally adjusted basis, according to the latest ADP National Employment Report ® released today. The estimated advance in employment from July to August was revised down only slightly to 89,000 from the initially reported 91,000.

Remember, last month they reported 91,000 too, but the NFP came in with a big fat goose-egg.

Here's the problem in this report: The entire gain was in the "service" sector. You know, doing things like pulling coffees? Yep.

There was no gain in construction, and the entire gain in services was in small and medium-sized business. This means that banksters weren't gaining jobs, which is good. However, the jobs that were gained were probably low-paying, which is bad.

 

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

OWS: Want To Turn The Tide?

 

If so -- if this is really about "the 99%" -- then you need to understand a few things.

Some of you already do. To those, this article is redundant. To the rest, and to the majority of the people in this nation, it is not.

Last night I appeared on Dylan Ratigan's show. You can watch the segment, and should. I used the word financialization, which a few people emailed me about and asked me to explain.

Thus, this Ticker.

So what is financialization anyway? It is the process by which something very ordinary (say, a TV set) becomes financed. In doing so there is inherently created the use (and usually the abuse) of leverage.

What is leverage? Leverage is simply the ability to act as though you have much more of something than you really do. For example, you can use leverage to pry off the lid on a beer bottle. Your raw strength is multiplied by the lever (the bottle opener) to lift the cap.

But note that there is no free lunch. While the opener may multiply the force applied to the cap, the distance the opener moves is proportionally reduced compared to the movement of your hand.

In economics, leverage is the use of debt to pretend to have more economic surplus (that is, purchasing power) than you really have.

 

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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