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    • Hi Schipoo and thank you for the update.   Excellent news for you and a huge relief, I imagine. You might like to start a new thread about Independent Tax if you want advice on that problem. HB
    • Hi everyone, I have an update on my case that I’d like to share with you all.  so after submitting 371 pages in my bundle, a witness statement and skeleton argument for my court case due to take place in Manchester on June 21st I got an email from my litigator stating that hmrc have pulled out and the case is now closed!    this is the body of the letter….. This letter, which is copied to the Appellant, pursuant to Rule 17 of the Tribunal Procedure (First-tier Tribunal) (Tax Chamber) Rules 2009, the Respondents gives notice to the Tribunal of their intention to not defend the above appeal.   The Respondents respectfully invite the Tribunal to allow the appeal and close its file. In lieu of the above the Respondents would respectfully ask the Tribunal to vacate the hearing scheduled for Friday 21 June 2024. We would accordingly invite the Tribunal to close its file. Obviously this is extremely good news which hasn’t sunk in that after 3 years of fighting it is over.    I do have a further fight on my hands in that the Group Action I had joined with Independent Tax that had been disbanded in November last year and I chose not to continue with them. They are trying to bill me over 5k for the work they did under that Group Action which is ludicrous bearing in mind the whole point in joining was that it would keep the cost to a minimum as it would be shared between us all. They had asked if I wanted to continue to have them represent me on an individual level which I declined, if I hadn’t, goodness knows what they would have been trying to charge me now. 
    • President Ruto says Kenyans pay less tax than citizens in some other African countries.View the full article
    • As PM Sunak really showed his true colours at the D Day Commemorations by doing what? Oh I am the British PM lets just leave early I have better things to do and as he is called out on disrespecting all those veterans that served our country for the freedoms we have today he gives a groveling apology to little to late. He knew about this event for a long time and also knew that this is probably the last D Day Commemoration due to the age of those Veterans who gave so much for there countries freedom. Even on the day of the D Day Commemoration he still could have changed his plans As PM and stayed but choose not to showing such DISRESPECT to those Veterans, those that lost there lives and Families for the Freedoms we have today Being a Veteran myself I have never known a PM to show such disrespect what the hell was he thinking SHAME ON YOU PM SUNAK  
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    • If you are buying a used car – you need to read this survival guide.
      • 1 reply
    • Hello,

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

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

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

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

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

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

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

      Frankly I don't think that is any accident.

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

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

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

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

       

      OT APPROVED, 365MC637, FAROOQ, EVRi, 12.07.23 (BRENT) - J v4.pdf
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The great intrest rate rip off part 5


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CBO Confirms Tickerguy's Projections

 

Here's the old sign again...

 

 

(Reuters) - Gvernment spending for Medicare, Medicaid and other healthcare programs will more than double over the next decade to $1.8 trillion, or 7.3 percent of the country's total economic output, congressional researchers said on Tuesday.

In its annual budget and economic outlook, the non-partisan Congressional Budget Office said that even under its most conservative projections, healthcare spending would rise by 8 percent a year from 2012 to 2022,
mainly as a result of an aging U.S. population and rising treatment costs.
It will continue to be a key driver of the U.S. budget deficit.

That's not going to happen, because it can't. That number would represent approximately 1/2 of today's Federal Budget, incidentally.

The bad news is that it doubles again in another eight years.

 

The whole ponzi game is falling apart, the mathematical exponential function of perpetual growth is coming unstuck. It's a complete logic failure.

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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Sovereign Debt Exemption To Volcker Is A [problem]

Oh c'mon....

U.S. banking regulators are exploring whether they can exempt sovereign debt from the Dodd-Frank ban on proprietary trading after foreign governments complained that the rule could raise borrowing costs and impede the flow of capital, a person familiar with the talks said.

Five regulatory agencies are taking public comments on a proposed version of the so-called Volcker rule, which was included in the 2010 financial regulatory overhaul to ban deposit-taking banks from trading with their own money.

The reason for the squawking is that the rule does not bar this trading for United States debt.

Well, it should. Banks should not be able to trade ("speculate") on any sovereign credit -- or any other sort of credit at all! There should be no exemptions, not more exemptions.

 

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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ADP: Do You Believe It?

It's out....

Employment in the U.S. nonfarm private business sector increased by 170,000 from December to January on a seasonally adjusted basis. The estimated advance in employment from November to December was revised down to 292,000 from the initially reported 325,000.

Yeah, last month they were off by "more than a little", and the revision isn't all that useful either.

 

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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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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AstraZeneca axes another 7,300 jobs worldwide

 

02 February 2012 11:15 AM

The pharmaceuticals industry was dealt a fresh blow today after AstraZeneca announced a further 7,300 job cuts amid warnings that its profits will slide this year.

 

 

 

Lloyds shakes up board to cut pressure on chief

 

02 February 2012 12:00 AM

Last of the old guard out as reorganisation gives more responsibility to division heads

 

 

Over 40 interested in Coryton refinery

 

02 February 2012 04:18 PM

Administrators to an oil refinery which went bust have received over 40 expressions of interest from companies around the world, the Government announced today.

 

 

 

Shetland oil drilling contract agreed

 

02 February 2012 11:47 AM

Oil giant BP has announced a multimillion-pound contract with a specialist offshore engineering firm for the second phase of a massive project off the Shetland Islands.

 

 

 

Retail veteran warns of 'death spiral' for shopping streets

 

02 February 2012 10:45 AM

A veteran retailer has urged the Government to reject Mary Portas's plans to save the high street, claiming many shopping streets are "in a death spiral".

 

 

 

Shell profits soar to £18bn

 

02 February 2012 10:46 AM

Oil giant Royal Dutch Shell today reported profits of 28.6 billion US dollars (£18.1 billion) for 2011, a jump of 54 per cent on a year ago.

 

 

 

City rogue trader at Credit Suisse pleads guilty

 

02 February 2012 12:00 AM

A trader at the centre of the sub-prime mortgage securities scandal at Credit Suisse in London was unmasked yesterday as he pleaded guilty to falsifying the books in a New York court.

 

 

 

Zuckerberg-REX.jpg

Facebook updates its status – by $100bn

 

02 February 2012 12:00 AM

The social networking site changed the way we communicate. Now, as it floats on the stock market, all the talk is about how much it is worth. By Stephen Foley

 

 

 

Tesco moves executive in controversial share sale

 

02 February 2012 12:00 AM

Tesco has handed a senior executive a new role just four weeks after he made more than £200,000 by selling shares shortly before its first profits warningin 20 years wiped £5bn off its market capitalisation.

 

 

 

Retail guru Wrigley says the high street is in a 'death spiral'

 

02 February 2012 12:00 AM

The former chairman of the fashion retailer New Look has said the high street is in an "death spiral" and has recommended re-classing empty shops for residential use.

 

 

 

RBS sells historic tockbroker Hoare Govett to Jefferies

 

02 February 2012 12:00 AM

Royal Bank of Scotland has confirmed the sale of its historic UK stockbroking arm Hoare Govett to the US investment bank Jefferies. The pair have been in talks for weeks over the deal, which comes as RBS's chief executive, Stephen Hester, scales back dramatically the bank's investment banking division.

 

 

 

BP is told to cover Halliburton over oil spill costs

 

02 February 2012 12:00 AM

BP has suffered a further blow in its bid to share the billions of dollars of costs arising from the Gulf of Mexico oil spill.

 

 

 

Private equity firms vie for Iceland after Morrisons pulls out

 

02 February 2012 12:00 AM

The grocer Morrisons did not lodge a final-round bid to acquire Iceland Foods, the frozen food chain up for sale for up to £1.5bn.

 

 

 

Icap sees rays of light as volumes rise

 

02 February 2012 12:00 AM

Shares in Icap, the broking giant founded and run by Michael Spencer, soared yesterday after it said everything in the City is not quite as gloomy as people feared.

 

 

 

Stansted is finally put up for sale by BAA

 

02 February 2012 12:00 AM

A "for sale" sign was finally raised above Stansted airport yesterday, after BAA lost its latest appeal against the CompetitionCommission.

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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FTSE boost from M&A muted by outlook warnings

 

LONDON -The FTSE paused on Thursday after recent sharp gains with a rally in miners on the prospects of a big sector merger counterbalanced by warnings from bluechips of a tough year ahead

 

Glencore and Xstrata in $80 billion takeover talks | Video

6:24pm GMT

Bank's Posen leans towards £75 billion in extra QE

6:42pm GMT

Europe gets bond market respite, real economy pain | Video

7:34pm GMT

Rising regulatory risk squashing M&A deals, say advisers

 

Bernanke defends low rate policy for weak economy

 

WASHINGTON - Federal Reserve Chairman Ben Bernanke on Thursday defended the U.S. central bank's policies against charges from Republican lawmakers they risked sparking inflation, saying the economy still needs plenty of support.

6:37pm GMT

NYSE Euronext, D.Boerse end merger plans

 

- NYSE Euronext and Deutsche Boerse said they have terminated their merger plans, following the decision by the European Commission to block the proposed deal.

4:31pm GMT

LVMH profit beats forecasts, sees "excellent" 2012

 

PARIS - LVMH , the world's biggest luxury group, said the outlook for 2012 was "excellent" and hiked its dividend after rapid growth in Asia and at its Louis Vuitton brand helped it post a forecast-beating rise in full-year operating profit.

6:04pm GMT

Irish deficit narrows in January on delayed tax receipts

 

DUBLIN - Ireland's budget deficit shrank 18 percent in January compared to a year earlier after the state coffers were buoyed by delayed corporation tax receipts, official data on Thursday showed.

6:23pm GMT

Jefferies faces stiff competition for Hoare Govett clients

 

LONDON - American investment bank Jefferies Group faces a fight to retain the top UK clients it gained through taking over historic British stockbroker Hoare Govett, with circling rivals already luring away oil and gas company Tullow Oil .

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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From Founders to Decorators, Facebook Riches

By NICK BILTON and EVELYN M. RUSLI

Facebook’s public offering will make a lot of billionaires and millionaires, some of them prominent people and others not.

 

DealBook

Glencore and Xstrata in Talks for $80 Billion Deal

By MARK SCOTT and DAVID JOLLY 12:54 PM ET

Glencore International, the biggest commodities trading company in the world, has approached the mining company Xstrata about a takeover, a long-anticipated deal that would create a company with a market value of about $80 billion.

 

Fed Chief Takes Heat From Republicans

By BINYAMIN APPELBAUM 45 minutes ago

In testimony before a Congressional committee, Ben S. Bernanke defended the Federal Reserve against G.O.P. accusations that its policies could allow higher inflation.

 

China Considers Offering Aid in Europe’s Debt Crisis

By KEITH BRADSHER and LIZ ALDERMAN 12:36 PM ET

Prime Minister Wen Jiabao said China might be willing to help finance Europe’s stabilization by working with the International Monetary Fund.

Wall Street Quiet Ahead of Jobs Data

By REUTERS

Stock markets took a breather as traders positioned themselves ahead of Friday’s unemployment numbers.

 

Shoppers Still Cautious, Retailers Report

By STEPHANIE CLIFFORD

Sales results for big retail chains in January were mixed, according to a tally, ending with an average increase of 4.2 percent from a year ago.

 

Incoming Chief Takes On a Sony That Is a Shadow of Its Former Self

By HIROKO TABUCHI 7:13 AM ET

The company warned it expected to post a fourth consecutive annual loss, of $2.9 billion, as sluggish sales and natural disasters weighed on its bottom line.

Hacking Questions at Times of London

By SARAH LYALL 41 minutes ago

The hacking scandal at Rupert Murdoch’s British newspapers widened on Thursday when a lawmaker said police investigations had spread to the flagship Times of London.

 

Quarterly Profit Falls 12.2% at Times Co.

By AMY CHOZICK 40 minutes ago

Fourth-quarter profit declined as rising subscription and digital advertising revenue at the company’s largest newspapers could not offset the continued drop-off in print advertising.

 

Blogging Site Tumblr Makes Itself the News

By BRIAN STELTER

The social blogging site has hired a content executive and a Newsweek writer to document the service and market it to users.

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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http://www.nytimes.com/pages/business/index.html

From the Telegraph but the urls don't appear to want to copy today.

Ben Bernanke warns of European style debt crisis in the US

 

US Fed chairman Ben Bernanke warns that the country must rein in spending and create a sustainable budget in order to avoid a debt crisis similar to that seen by Italy and Spain in the eurozone.

430 Comments

Greek clash with EU looms

UK faces two-year recession if euro fails

Facebook fears Google's Android power

 

Facebook has exposed its fears over increasing competition from Google, and the potential for the web search giant to force it off Android mobiles, in its filing for a historic $5bn iniital public offering.

2 Comments

Zuckerberg to retain right to choose successor after his death

Why Facebook's IPO is a bittersweet moment for America

Facebook IPO looks like one to avoid

Facebook IPO: letter from Mark Zuckerberg

Weak house market slows construction growth

 

Britain's construction industry grew at a slower-than-expected rate in January, weighed down by a weak housing market and stagnant employment.

29 Comments

Shell profits jump despite tough fourth quarter

 

Royal Dutch Shell's reported a 54pc jump in full-year profits to $28.6bn (£18.1bn) last year, despite a tough fourth quarter in which the oil giant reported a loss in its "downstream" refining and marketing division.

4 Comments

Fitness First faces convenant breach

 

BC Partners has a month to rescue Fitness First before its troubled gym chain, which employs over 13,000 people, faces breaching its banking covenants.

2 Comments

AstraZeneca cuts 7,300 jobs, warns on profits

 

AstraZeneca, the pharmaceutical giant, is cutting a further 7,300 jobs and warned profits will fall this year as patents expire on blockbuster drugs.

1 Comment

Glencore and Xstrata in merger talks

 

Xstrata, the London listed Swiss mining group, is in talks with Glencore, the world's biggest quoted commodities trader, about a possible all-share merger of equals.

1 Comment

Ikea's tough task

Spending cuts may be fantasy but what is the alternative?

Go West, young man, and East too

What has the Government done for British business?

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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http://www.bbc.co.uk/news/business/

 

2 February 2012 Last updated at 18:18

AstraZeneca announces job lossesAstraZeneca sign

 

Drugs firm AstraZeneca is to cut further 7,300 job cuts over the next two years, including up to 300 at an R&D facility in the North West.

 

Analysis: Pharmaceutical woes

'All drug firms face same issues' Watch

 

Glencore signCommodities giants in merger talks

 

Mining giant Xstrata and commodities trader Glencore International announce they are in talks over a possible "merger of equals".

 

Peston: How will Glenstrata fare?

Glencore emerges from the shadows

 

facebook likeFacebook reveals financial facts

 

In papers filed at the beginning of its flotation process, Facebook reveals information about the company which had previously been private.

 

Facebook and Glenstrata: Which is bubblier?

 

6 hours ago

 

Arguably there are two great bubbles in the world right now, in internet shares and commodities. But the Facebook share sale and likely merger of Glencore and Xstrata show that these putative bubbles manifest themselves very differently on the stock market.

 

Facebook unveils plans to float

Facebook 'Beautiful Day' for Bono

Facebook's new challenges

The ambitious social network

Timeline: Facebook's rise

 

Balfour workers vote for strike

 

Members of the Unite union at construction company Balfour Beatty vote by more than two-to-one in favour of strike action over pay and conditions.

Hackers fool bank security system

 

Criminal hackers have found ways around new security devices used for online banking, the BBC has learned.

MPC member attacks lending cuts

 

Bank of England Monetary Policy Committee member Adam Posen criticises banks for not lending enough to businesses, asking if they are "risk-averse jerks".

Banker fears 'social time bomb'

Sony reports further heavy losses

Shell plans production expansion

More Galileo satellites ordered

Bank says Irish recession to stay

India cancels telecom licences

Burma's foreign debt put at $11bn

Debt crisis hits Deutsche profits

China 'considering' eurozone help

American Airlines cut 13,000 jobs

Case for tax cuts 'is stronger'

 

Facebook and Glenstrata: Which is bubblier?

 

6 hours ago

Arguably there are two great bubbles in the world right now, in internet shares and commodities. But the Facebook share sale and likely merger of Glencore and Xstrata show that these putative bubbles manifest themselves very differently on the stock 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

Bearded Clam Served Parboiled

 

The testimony and questioning this morning is rather interesting....

 

Ryan is going to town on him as I write this and I have to wonder if he reads Tickers, as he's pointing out:

 

He's bailing out fiscal policy with near-zero interest rates. That is, we are able to run trillion dollar plus deficits because he is playing with ZIRP and QE. Ryan basically told Bernanke that Congress is not comprised of adults and that Bernanke must pull system liquidity in order to force Congress to do its job!

 

He used the words stable prices. What he did not do is bend him over the desk and give him one or two good ones from behind on the "2% inflation" game, but it's a start.

 

He's pointing out that trashing saver's investment income and forcing them into risk is counter-productive. Mr. Ryan recognizes capital formation will get the job done? THAT is a change.

 

He called him out on creating the housing bubble. Heh heh heh.....

 

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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http://www.zerohedge.com/

 

Former MF Global Chief Risk Officer Sacked For Doing His Job, Disagreeing With Corzine

 

Unprecedented Global Monetary Policy As World Trade Volume Craters

 

Under Twist, The Fed Has Purchased 91% Of All Gross Issuance In Long-Dated US Treasurys

 

Guest Post: Fraudulent Debt = Counterfeit Money

 

Ben Bernanke Is Indeed A Gold Bug's Best Friend

 

Ben Bernanke Testifies On "The State Of The US Economy"

 

ECB Dollar Swaps With New York Fed Jump To Highest Since 2009, Surpass Recent Liquidity Crisis Highs

 

European Hope Versus Global Growth Risk, Goldman Quantifies Anxiety

 

John Taylor's Open Letter To Greece: "Get Out Greece! Get Out Right Now!"

 

Initial Claims Print Near Expectations, To Be Revised Adversely Next Week; Productivity Misses, Labor Costs Increase

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

Jobs fear as glass-maker Pilkington cuts back

 

03 February 2012 10:20 AM

Glass manufacturer Pilkington is to cut production at a UK factory under plans to axe 3,500 jobs worldwide.

 

 

 

Return of the megadeal as miners forge £50bn merger

 

03 February 2012 12:00 AM

The London-listed mining behemoths Xstrata and Glencore are to stage a £50bn merger in a move that raised hopes the market for big corporate megadeals could at last be recovering.

 

 

 

Return of the megadeal as miners forge £50bn merger

 

03 February 2012 12:00 AM

The London-listed mining behemoths Xstrata and Glencore are to stage a £50bn merger in a move that raised hopes the market for big corporate megadeals could at last be recovering.

 

 

 

BT promises 'ultra-fast' broadband

 

03 February 2012 08:28 AM

Telecoms firm BT stepped up the pace of its broadband expansion today by promising "ultra-fast" speeds of up to 300Mb by next spring.

 

 

 

Pg-02-painting.jpg

The most expensive wall painting ever?

 

03 February 2012 12:00 AM

Jackson Pollock may lose his record for creating the most expensive painting ever – and not to another enfant terrible of the art world , but to a minor Los Angeles mural painter who happened upon the Facebook offices in 2005.

 

 

 

Facebook: $100bn – are you kidding?

 

03 February 2012 06:00 AM

Facebook wants us to think it is worth four times as much as BT. Potential investors will argue otherwise

 

 

 

BoE's Posen: Bankers aren't jerks, they're just not lending enough

 

03 February 2012 12:00 AM

Adam Posen, a member of the Bank of England's Monetary Policy Committee, has attacked private banks for failing to lend to Britain's small businesses, and turned up the pressure on the Treasury to ensure that hard-pressed firms are not starved of credit.

 

 

 

Europe is too emotional about fracking, says Shell chief

 

03 February 2012 12:00 AM

Shell's chief executive, Peter Voser, called on Europe for a less "emotional" response to fracking, as he outlined plans to accelerate the oil giant's use of the controversial technology used to release hydrocarbons from rocks.

 

 

 

AstraZeneca to cut another 7,350 jobs as patents expire

 

03 February 2012 12:00 AM

AstraZeneca has set out plans to fire another 7,350 staff, after admitting that revenues would fall this year as blockbuster drugs fall out of patent and governments demand discounted deals.

 

 

 

Hike in FSA's fees 'will be passed on to customers'

 

03 February 2012 12:00 AM

Insurers warned of a fresh hike in premiums for millions of customers yesterday as the City's watchdog hit the financial services industry with an inflation-busting 15.6 per cent rise in annual fees.

 

 

 

UK builders stuck in the slow lane

 

03 February 2012 12:00 AM

Britain's builders were stuck in first gear in January, as the industry's growth slowed to a crawl, the Chartered Institute of Purchasing and Supply (Cips) said yesterday.

 

 

 

Unilever looks to emerging markets as times stay tough

 

03 February 2012 12:00 AM

Unilever is pinning its hopes on the growing middle classes in Asia, Africa and Latin America as the maker of Dove soap and Magnum ice-cream warned that this year would be tough.

 

 

 

Leg-up at Smith & Nephew

 

03 February 2012 12:00 AM

The global economy must be on the up: people are buying more artificial knees and hips.

 

 

 

Lloyds pledge on branches

 

03 February 2012 12:00 AM

Lloyds Banking Group yesterday said that it will keep the number of branches it runs in the UK for the next three years.

 

 

 

Dairy Crest sales up but milk price hits profits

 

03 February 2012 12:00 AM

The cheese-maker Dairy Crest's like-for-like sales rose 2 per cent in the first three quarters of the year, despite a "challenging business environment". But the company warned that profits at its dairies business are being hit by the higher costs of buying milk and lower bulk cream values, which fell by 15.2 per cent last month to £1,230 a tonne.

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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Earnings, U.S. data lift FTSE to best week in 2 months

 

LONDON - Top shares surged on Friday as a surprisingly strong U.S. employment report offered further proof of a healthier global economy, enabling the FTSE-100 to post its biggest weekly gain in two months.

 

Swiss bankers' nerves fray after Wegelin indictment

 

ZURICH - The first indictment of a Swiss private bank over hiding untaxed money for wealthy Americans has heightened tension among private bankers fearful of being next in the firing line.

7:16pm GMT

 

French Connection warns on profit again

 

LONDON - British fashion group French Connection posted its second profit warning in less than three months on Friday, blaming poor trading in the key Christmas period.

6:12pm GMT

 

Euro under systemic risk, but can't fail - ECB Costa

 

LISBON - Failure of the euro is not an option but the euro zone needs to implement new measures decisively to reassure financial markets, ECB Governing Council member Carlos Costa said on Friday.

3:50pm GMT

 

EU's Tajani backs business-friendly bank capital rules

 

BRUSSELS/LONDON - The European Commission favours loosening onerous capital rules to make it easier for banks to lend to small businesses, one of its top officials said, reflecting a gradual push to tailor the new regime so that it does not choke a fragile economy.

3:34pm GMT

 

EU to release new quarterly debt indicator

 

BRUSSELS - The European Union's statistics office Eurostat will release quarterly debt figures by country from Monday as the 27-nation bloc steps up its economic monitoring two years into a sovereign debt saga that is sapping the vigour out of its 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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3 February 2012 Last updated at 16:42

 

US job numbers show strong growth_58281002_uscars.jpg

 

The US economy created 243,000 jobs in January, while the unemployment rate fell to 8.3%, official figures show.

 

 

_58271589_83691095.jpgRBS boss calls for pay correction

 

The chairman of 82% taxpayer-owned Royal Bank of Scotland (RBS) says banker pay has been "high for too long" and needs to be corrected.

 

 

 

Gas up on Russia shortage reports

 

The price of gas around Europe has risen sharply due to increased demand as a result of the cold weather and reports of reduced supply from Russia.

 

 

 

 

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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[/url]

 

Debt crisis: FTSE 100 closes at seven-month high on US jobs data

 

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The FTSE 100 has closed at a seven-month high after US data showing more people are in work boosted global markets, while Greece announces it is to auction €625m of Treasury bills next week.

382 Comments

US jobless rate falls to lowest level for three years

 

 

Surprise UK services growth eases recession fears

 

 

Austerity measures causing 'lasting damage'

 

 

Eurozone bail-out 'not big enough' as Greek debt worries grow

 

 

 

 

Bankers' pay too high, admits RBS chairman

 

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Bankers get paid too much and this needs to be “corrected” according to Sir Philip Hampton, chairman of Royal Bank of Scotland, as he defended a bonus for the bank's embattled chief executive Stephen Hester.

74 Comments

RBS underestimated anger over bonus

 

 

Ed Miliband launches fresh assault on City pay

 

 

Ed Miliband's posturing does no justice to capitalism's problems

 

 

BoE's Posen says banks failing to do their job

 

 

 

Xstrata merger 'could cost Glencore £25bn'

 

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Glencore, the commodities trading giant, may have to pay £25bn to make its proposed merger with Xstrata happen, according to new research.

3 Comments

 

Superfast broadband boost BT profits

 

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BT has unveiled plans for a new high-speed broadband package available in remote parts of the country, as its profits jumped by nearly half in the third quarter thanks to demand for superfast internet access.

4 Comments

BT profits: What the analysts say

 

 

BT to offer ‘ultrafast’ broadband

 

 

 

Game group thrown lifeline, shares jump

 

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Shares in Game Group, the struggling video games retailers, jumped by a third after it said it had struck a deal with its banks to stay in business.

1 Comment

US jobless rate falls to lowest level for three years

 

 

 

Surprise UK services growth eases recession fears

 

Desperate homeowners and a dangerous bridge too far

 

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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U.S. Jobless Rate Falls to 8.3 Percent, a 3-Year Low

 

By MOTOKO RICH 1:53 PM ET

 

 

The United States economy gained momentum in January, adding 243,000 jobs, the second straight month of better-than- expected gains.

 

 

 

 

04jobs-span-sfSpan.jpg

Joan Barnett Lee/The Modesto Bee, via Associated Press

 

A job applicant received assistance at an employment fair in Modesto, Calif., this week.

 

 

 

 

 

 

Economix Blog

 

Wow. But Is the Number Real?

 

By FLOYD NORRIS 10:22 AM ET

 

This is a recovery led by the private sector. And while seasonal adjustments may have made January look better than it really was, job growth appears strong.

 

 

S.E.C. Is Avoiding Tough Sanctions for Large Banks

 

By EDWARD WYATT

 

Even as the Securities and Exchange Commission has stepped up its investigations of Wall Street, the agency has repeatedly allowed the biggest firms to avoid punishments.

 

 

DealBook

 

Carlyle Drops Arbitration Clause From I.P.O. Plans

 

By KEVIN ROOSE 24 minutes ago

 

The clause would have prohibited the company's shareholders from filing class-action lawsuits, forcing them into a confidential arbitration process instead.

 

Common Sense

 

james-stewart-thumbStandard.jpg

At 102%, His Tax Rate Takes the Cake

 

By JAMES B. STEWART 1:29 PM ET

 

In submissions of tax burdens from readers, James Ross, founder and managing member of the investment firm Rossrock, was on a perch all his own.

 

 

Wealth Matters

 

04wealth-thumbStandard.jpg

The Advantages and Risks of Gingrich’s Tax Strategy

 

By PAUL SULLIVAN 1:30 PM ET

 

Newt Gingrich set up his speaking and consulting business as an S corporation, which exempted this portion of his income from Medicare taxes, an unusual move for a business based on services.

 

DIET-thumbStandard.jpg

Army Studies Workout Supplements After Deaths

 

By PETER LATTMAN and NATASHA SINGER

 

The military has removed dietary supplements containing the ingredient dimethylamylamine from stores on its bases, though the products are widely available elsewhere in the country.

 

New York Suing 3 Banks Over Mortgage Database

 

By REUTERS 43 minutes ago

 

The state attorney general asserted that fraudulent use of the tracking system allowed Bank of America, Wells Fargo and JPMorgan Chase to avoid the need for recording mortgage transfers.

 

 

F.B.I. Admits Hacker Group’s Eavesdropping

 

By SCOTT SHANE 2 minutes ago

 

The group known as Anonymous listened in on a call between the bureau, Scotland Yard and other foreign police agencies about their joint investigation of the group and its allies.

 

 

04fiji-span-thumbStandard.jpg

Looking Forward, Fiji Turns to Its Canoeing Past

 

By GINANNE BROWNELL 7:43 AM ET

 

The traditional canoe is at the center of several projects aimed at reducing Fiji’s energy consumption, providing islanders with cheaper transport, keeping local traditions alive, and giving a boost to tourism.

 

 

Factory Orders Rise, and Jobs Increase in Service Industries

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

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4 February 2012 Last updated at 12:27

 

US job numbers show strong growth_58281002_uscars.jpg

 

The US economy created 243,000 jobs in January, while the unemployment rate fell to 8.3%, official figures show.

 

 

_58292848_jobcentre1.jpgWork programme on track: Grayling

 

Around 20% of unemployed people who have been on the government's main welfare-to-work scheme, the Work Programme, for at least 6 months have been found a job, the BBC has learnt.

 

 

New Virgin staff pay for checks

 

Virgin Atlantic is forcing successful job applicants to pay for their own criminal record checks, Radio 4's Money Box reveals.

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Breaking news

 

 

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Investors demand big cut to bonus payouts at Barclays

 

04 February 2012 12:00 AM

Shareholders call for pay to be curbed as RBS boss admits investment bankers are paid too highly

 

 

 

Goldman Sachs chief executive handed $7m stock bonus

 

04 February 2012 01:33 AM

Goldman Sachs handed its chief executive, Lloyd Blankfein, a bonus of $7m (£4,4m) in shares for his work last year, down from $12.6m in 2010 in line with the investment bank’s slipping profits.

 

 

 

Another day and another deal in the pipeline

 

04 February 2012 12:00 AM

The big deal wagon rolled on again in the City yesterday as IT giant Misys said it was in talks over a £2bn merger deal.

 

 

 

BT profits soar despite a dip in revenues

 

04 February 2012 12:00 AM

BT shares yesterday rose 4 per cent to a three-and-a-half-year high as the telecoms giant boosted profits, despite another dip in revenues and some renewed concern over its pension liabilities.

 

 

 

French Connection in new profit alert

 

04 February 2012 12:00 AM

French Connection, the fashion retailer, has suffered its second profit warning in less than three months after it was hit by weak retail sales over Christmas.

 

 

 

Nobu gets some rooms in Shoreditch

 

04 February 2012 12:00 AM

It's not yet clear if there will be a broom cupboard in every room, but Nobu, the Michelin-starred restaurant where Boris Becker famously sired a daughter during a "five-minute thing" with a model, is opening a hotel.

 

 

 

OFT closes down whole industry

 

04 February 2012 12:00 AM

The City watchdog has clamped down on sale and rent back firms, which prey on struggling homeowners.

 

 

 

Ex-safety chief Castell to step down from board

 

04 February 2012 12:00 AM

Sir William Castell, the man who oversaw safety at BP in the run-up to the Gulf of Mexico oil spill, is leaving the company.

 

 

 

Bank's QE decision in doubt after stronger than expected services data

 

04 February 2012 12:00 AM

A remarkable bounce back for the UK's dominant services sector in January has left Bank of England policymakers facing a difficult decision next week over their monetary stimulus programme.

 

 

 

US employment surge delights markets

 

04 February 2012 12:00 AM

The FTSE 100 hit its highest level since July 2011 yesterday, finishing at 5901.07, after the announcement that some 243,000 non-farm jobs were created across America in January – considerably more than the 150,000 analysts had pencilled in . US and European stock markets were also given a fillip by the impressive job creation figures from the world's dominant economy. The largest employment gains were in business services, hospitality, leisure and manufacturing.

 

 

 

Miner may dig out Rothschild

 

04 February 2012 12:00 AM

Financier Nat Rothschild faces the prospect of ejection from Bumi, the Indonesian coalminer in which he is a major shareholder and the co-chairman.

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

Greece edges closer to deal, political hurdles remain

 

ATHENS - Greece edged towards a deal on Saturday to avert a chaotic default, hammering out a plan for recapitalising its tottering banks, but other issues remain - and it must still persuade its political leaders to back painful reforms involved in the rescue.

 

Bakries, Tan seek to oust Rothschild from Bumi board

 

LONDON - Indonesia's politically connected Bakrie family and their shareholder partner in Bumi Plc are seeking to oust financier Nat Rothschild and other key directors from the board of the London-listed coal miner.

03 Feb 2012

 

U.S. jobless rate at 3-year low as payrolls surge

 

WASHINGTON - The United States created jobs at the fastest pace in nine months in January and the unemployment rate unexpectedly dropped to a near three-year low, giving a boost to President Barack Obama. | Video

03 Feb 2012

 

Merged Glencore, Xstrata would take aim at iron ore

 

SYDNEY - An $80 billion (50 billion pound) marriage of commodities trader Glencore and miner Xstrata could lead to a new round of takeovers in iron ore, creating a goliath eager to muscle its way onto one of mining's richest and most closely guarded sectors. | Video

03 Feb 2012

 

Swiss bankers' nerves fray after Wegelin indictment

 

ZURICH - The first indictment of a Swiss private bank over hiding untaxed money for wealthy Americans has heightened tension among private bankers fearful of being next in the firing line.

03 Feb 2012

 

Christine Lagarde praises Saudi role in stabilizing economy

 

JEDDAH, Saudi Arabia - International Monetary Fund managing director Christine Lagarde praised Saudi Arabia's role in stabilising the global economy during a visit to Riyadh on Saturday, but there was no word on the possibility of a fresh Saudi contribution to the IMF's resources.

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]

 

America's Hilary Clinton throws weight behind euro

 

greece_2123345g.jpg

Hilary Clinton and Angela Merkel have voiced confidence that Europe can solve its financial crisis, as Greece's international creditors entered crunch talks in Athens.

190 Comments

 

 

RBS mulls bonus shake-up as pay 'out of hand'

 

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Royal Bank of Scotland is considering stripping Stephen Hester of his annual bonus and replacing it with a longer-term scheme that is "more robust against public opinion" after the row over his near £1m award this year.

89 Comments

Osborne must get a grip

 

 

 

US jobless rate falls to lowest for three years

 

us-jobs_2128344g.jpg

America's unemployment rate tumbled to the lowest level in three years in January, raising hopes that the world's biggest economy may at last be gaining the momentum that has eluded it since the financial crisis.

36 Comments

Nasdaq jumps to 11-year high on surge in US jobs

 

 

 

Sale and rent back market shut down

 

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The Financial Services Authority has effectively shut down the "sale and rent back" market after it found deals being offered were "unaffordable or unsuitable and never should have been sold".

16 Comments

 

BP safety committee chairman to leave

 

Sir William Castell, chairman of BP's safety committee during the Gulf of Mexico disaster, has given up the role and will leave the board altogether in April, the oil major revealed.

2 Comments

 

Misys in merger talks with Swiss rival Temenos

 

Misys, the British software company, is in talks with its Swiss rival, Temenos, about an all-share merger aimed at bolstering the companies against a drop off in sales.

Comment

 

RBS and HSBC probed by Swiss over Libor allegations

 

 

 

 

Bid to oust Nat Rothschild from Bumi board

 

 

 

 

Xstrata merger 'could cost Glencore £25bn'

 

 

 

 

Superfast broadband boosts BT profits

 

Osborne must get a grip

 

george-osborne_2128560g.jpg

Don’t blame Hester or Goodwin. The complacency of our part-time Chancellor is at the heart of the banking crisis, says Peter Oborne.

105 Comments

Debt crisis: as it happened, February 3, 2012

 

 

 

 

Surprise UK services growth eases recession fears

 

Will the great interest rate gamble pay off?

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

Greek Official Says Barriers Remain in Talks With Creditors

 

By NIKI KITSANTONIS 11 minutes ago

 

The Greek finance minister said that talks with foreign creditors on a second rescue deal were “on a razor’s edge,” with major issues unresolved ahead of a crucial deadline on Sunday.

04jobs-span-thumbStandard.jpg

Job Gains Reflect Hope a Recovery Is Blooming

 

By MOTOKO RICH

 

The front wheels have lifted off the runway. Now, Americans are waiting to see if the economy can truly get aloft.

 

 

Obama’s Magic Number May Be 150,000 Jobs Per Month

 

By NATE SILVER

 

With 243,000 jobs created in January, the economy is starting to look more positive. That might be a plus for the president in the November election.

 

04Assess1-thumbStandard.jpg

Jobless Rate Falls to 8.3%, Altering Face of Campaign

 

By MICHAEL D. SHEAR

 

Two dueling realities — an improving economy that remains very weak — create serious political risks for top advisers to President Obama and Mitt Romney.

 

 

Tax Break Increases Deficit, but May Have a Silver Lining

 

By BINYAMIN APPELBAUM

 

A tax break added billions to the federal government’s current deficit, but the government says it should recoup 80 percent of the shortfall in the future.

 

DealBook

 

dbpix-david-rubenstein-thumbStandard.jpg

Carlyle Drops Arbitration Clause From I.P.O. Plans

 

By KEVIN ROOSE

 

The clause would have prohibited the company's shareholders from filing class-action lawsuits, forcing them into a confidential arbitration process instead.

 

DealBook

 

Goldman Gives Blankfein $7 Million Stock Award

 

By BEN PROTESS and SUSANNE CRAIG

 

With a $2 million base salary, the 2011 pay package for Lloyd Blankfein, the chief executive of Goldman Sachs, so far totals $9 million. Goldman has not yet disclosed the size of his cash bonus.

 

 

04fiji-span-thumbStandard.jpg

Looking Forward, Fiji Turns to Its Canoeing Past

 

By GINANNE BROWNELL

 

The traditional canoe is at the center of several projects aimed at reducing Fiji’s energy consumption, providing cheaper transport, keeping local traditions alive and giving a boost to tourism.

 

New York Sues 3 Big Banks Over Mortgage Database

 

By REUTERS

 

The state attorney general asserted that fraudulent use of the tracking system allowed Bank of America, Wells Fargo and JPMorgan Chase to avoid the need for recording mortgage transfers.

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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