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Facebook drops below float price_60386597_facebook.jpg

 

Shares in Facebook slump 12% in early trading to below the initial price they were launched at on Friday in the biggest stockmarket flotation in recent years.

 

 

_60367900_013216114-1.jpgHigher fares help Ryanair profits

 

Ryanair reports record annual profits as fare rises help to offset a sharp rise in fuel costs, but it warns profits could fall this year.

 

 

Google must answer trust concerns

 

The European Commission tells Google it has a "matter of weeks" to allay fears it is abusing its position as the world's dominant search engine.

 

 

 

 

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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Facebook shares drop 13pc below IPO price as bank support wanes

 

zucker_2224032g.jpg

Facebook shares tumbled on their second day of trading in New York as its lacklustre debut last week fuelled fears the social networking site is overvalued.

378 Comments

Facebook IPO: Did its bankers get the price right?

 

 

Nasdaq blames software design for Facebook IPO delay

 

 

Euro area 'would be destroyed if Greece left'

 

tsipras_2225625g.jpg

The leader of Greece's anti-bailout party, which is favourite to win fresh elections next month, has warned that the euro area would be "destroyed" if his country left.

518 Comments

Europe poised for political showdown over eurobonds

 

 

Spain to sink further into recession but says will hit deficit goal

 

 

BoE's Posen warns eurozone must address bank crisis

 

 

China's premier Wen Jiabao backs growth measures

 

 

 

HSBC postpones plans to leave UK

 

HSBC_2017761g.jpg

Stuart Gulliver, HSBC’s chief executive, has said the bank had decided to drop “indefinitely” plans to look at moving its headquarters from London to Hong Kong.

2 Comments

 

JPMorgan suspends $15bn shareholder return

 

JP_Morgan_Chase_CE_2217659g.jpg

US investment bank JPMorgan has cancelled up to $15bn (£9.5bn) in share buybacks as it struggles to deal with mounting fall-out from the huge trading losses built up at its London office.

1 Comment

 

Barclays faces $1bn loss from BlackRock exit

 

barclays_2204767g.jpg

Barclays plans to crystallise a loss of up to $1bn (£630m) by selling its 20pc stake in fund manager BlackRock in a move that will boost the high street lender’s capital buffers.

24 Comments

 

Mortgage lending fell sharply in April

 

hou_1982323g.jpg

The eurozone crisis and the end of a stamp duty holiday drove a sharp fall in mortgage lending in April, according to the Council of Mortgage Lenders.

8 Comments

 

UBS pair fined £1.3m for unauthorised trading

 

 

 

 

CWW urges shareholders to accept Vodafone offer

 

 

 

 

Ryanair fare rises boost annual profits

 

 

 

 

Yahoo sells half its stake in Alibaba for $7.1bn

 

Rows break out over eurozone woes

 

Ayrault-hollande_2220814g.jpg

Eurozone leaders have come under fire for failing to deal with the political divisions and crippled banks that pose as big a risk to the single currency as Greece.

Comment

Debt crisis: as it happened - May 21, 2012

 

 

 

 

France to push for eurobonds at EU summit

 

 

 

 

Europe poised for political showdown over eurobonds

 

Drachma scarecrows and the Myths of Greek Exit

 

The most pro-European thing to do now is reject the euro

 

Why David Cameron wants a war on how we 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.

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More Men Enter Fields Dominated by Women

 

By SHAILA DEWAN and ROBERT GEBELOFF

 

As steady full-time jobs with benefits are increasingly elusive, more men are reaching for a chance at the American dream in female-dominated occupations.

 

men-sfSpan.jpg

Michael Stravato for The New York Times

 

Adrian Ortiz, a former lawyer, teaches kindergarten in Houston.

 

 

 

DealBook

 

Facebook Shares Slump on Second Day

 

By MICHAEL J. DE LA MERCED 5 minutes ago

 

Facebook's stock was down more than 10 percent on Monday morning, to around $34 a share.

 

 

Media Decoder Blog

 

Cable Operators to Expand Their Plan to Share Wi-Fi Hot Spots

 

By BRIAN STELTER

 

Five of the nation's biggest cable operators announced they would collaborate so that customers of one company can use the Wi-Fi of any of the others in public places like malls, arenas and parks.

 

DealBook

 

Rajat Gupta, Corporate Wise Man, Set for Trial in Insider Case

 

By PETER LATTMAN and AZAM AHMED 31 minutes ago

 

Rajat K. Gupta, the most prominent criminal defendant in the Justice Department’s vast campaign against insider trading, will stand trial Monday in Federal District Court.

 

DealBook

 

JPMorgan to Suspend Stock Buybacks

 

By NELSON D. SCHWARTZ 24 minutes ago

 

Jamie Dimon, JPMorgan Chase's chief executive, says the bank intends to keep its dividend of 30 cents a quarter unchanged.

 

China’s Premier Open to Stimulus Steps

 

By KEITH BRADSHER 23 minutes ago

 

Wen Jiabao is calling for economic policies to tilt a little more toward fostering growth, official media reported.

 

DealBook

 

Eaton Corp. to Buy Cooper Industries for $11.8 Billion

 

By AZAM AHMED 11:57 AM ET

 

The Eaton Corporation, a global power provider, stands to benefit from Cooper's range of electrical products and its global reach, the companies said on Monday.

 

Europe Offers to Let Google Settle Potential Antitrust Charges

 

By JAMES KANTER

 

The European Commission said Google might have abused its dominant position in online search but gave the company a chance to settle without facing formal charges.

 

 

0521BIZPARKS1-thumbStandard.jpg

Clash of the Theme Parks

 

By BROOKS BARNES

 

Universal Studios, the theme park chain now controlled by Comcast, is rolling out new weapons in its battle against Walt Disney Parks and Resorts — and Disney is fortifying its defenses.

 

DealBook

 

Barclays to Sell Its Stake in BlackRock

 

By JULIA WERDIGIER

 

The British bank Barclays said on Monday that it planned to sell its stake in the investment management firm BlackRock, which it valued at $6.1 billion.

 

21amc-image2-thumbStandard.jpg

Deal Expands Chinese Influence on Hollywood

 

By MICHAEL CIEPLY

 

The Wanda Group will buy AMC Entertainment, making the world’s largest theater group, the companies said.

 

0521BIZASANA-thumbStandard.jpg

From a Facebook Founder Comes a Way to Streamline Work Flow

 

By QUENTIN HARDY

 

Asana, created by a Facebook co-founder, Dustin Moskovitz, is a shared to-do list for a company looking to make managing tasks at work a little easier.

 

DealBook

 

Nasdaq Concedes Facebook Missteps

 

By MICHAEL J. DE LA MERCED

 

The chief executive of the Nasdaq stock market contended that the missteps had not affected the performance of the company’s shares.

 

 

DealBook

 

Yahoo Will Sell a Stake in Alibaba

 

By MICHAEL J. DE LA MERCED and AND EVELYN M. RUSLI

 

Under the deal, the Alibaba Group will buy back half of Yahoo’s stake, and Yahoo will sell an additional 10 percent when Alibaba goes public.

 

 

 

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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JPM: Watch The Duplicity!

Off the wires this morning, JP Morgan says it is "suspending" its share repurchase program.

 

.....

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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JPM: It Gets Worse

The sharks are circling and they smell blood in the water....

Irvin Goldman, who oversaw risks in the
JPMorgan Chase & Co. (JPM)
unit that suffered more than $2 billion in trading losses, was fired by another Wall Street firm in 2007 for money-losing bets that prompted a regulatory sanction at the firm, Cantor Fitzgerald LP, three people with direct knowledge of the matter said.

Oh that's nice. But what's better is that apparently, when Dimon made his "tempest in a teapot" comment, he hadn't even seen the positions in question!

It's no surprise that the head of the CIO unit has left; when you represent to your direct boss (the CEO) that you have something under control and he goes public with your representation, taking it as his own and that turns out to be BS, you are (and should be) cooked.

 

More a 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

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

imf.jpg

IMF says Bank of England must stimulate growth

 

 

John Hall: IMF warns of 'substantial' setbacks to UK economic recovery, as OECD reveals 'severe' eurozone recession threat.

 

 

IMF says Bank of England must stimulate growth

 

22 May 2012 01:56 PM

 

 

 

Barclays to sell $6bn stake in BlackRock

 

22 May 2012 12:00 AM

Bank exits US fund giant to bolster its reserves and improve return on capital

 

 

Facebook shares tumble again

 

22 May 2012 05:59 PM

Shares of Facebook took another tumble today, continuing a downward spiral that began at the start of the week.

 

 

 

Wonga attacked for customer letters

 

22 May 2012 03:18 PM

Payday lender Wonga.com has been criticised by the trading watchdog for using aggressive and misleading debt collection methods.

 

 

 

Tesco boss Philip Clarke shuns bonus amid results

 

22 May 2012 02:01 PM

Supermarket boss Philip Clarke took responsibility for Tesco's dismal UK trading today by spurning his annual bonus worth £372,000.

 

 

 

Milk Link and Arla plan £2bn merger

 

22 May 2012 12:46 PM

Around 1,600 farmers are set to join one of Europe's biggest dairy co-operatives in a deal that will pool nearly a quarter of UK milk production.

 

 

 

Homeserve under investigation by FSA

 

22 May 2012 12:41 PM

Home repairs group Homeserve has revealed it is being investigated by the City watchdog in the wake of accusations over mis-selling and failures in complaints handling.

 

 

 

Pensions move brings Treasury boost

 

22 May 2012 11:52 AM

The transfer of Royal Mail pensions into the public sector gave the Government's finances a one-off boost today, offsetting a larger-than-expected surge in borrowing last month.

 

 

 

Marks & Spencer slashes sales targets as profits dip

 

22 May 2012 08:15 AM

Marks & Spencer boss Marc Bolland slashed his sales targets for the high street retailer today as he unveiled its first fall in profits in three years.

 

 

 

Ex-Goldman man faces insider dealing charges

 

22 May 2012 12:00 AM

The great and the good of the Indian business community may be fiercely protesting his innocence on the web and in interviews, but a jury of ordinary New Yorkers will decide the fate of Rajat Gupta, the former Goldman Sachs board member whose trial for insider trading got under way yesterday.

 

 

 

Facebook's shares slump 11 per cent in frenzy

 

22 May 2012 12:00 PM

Facebook shares slumped to more than 10 per cent below their float price on their second day trading as a public company.

 

 

 

Bank of England's conduct and forecasting record to be investigated

 

22 May 2012 12:00 AM

The Bank of England's performance in recent years is to be subject to aseries of independent investigations, it was announced yesterday.

 

 

 

Pg-12-morgan-afp.jpg

Double trouble at JP Morgan: trader's losses could exceed $7bn

 

22 May 2012 06:00 AM

US bank has cancelled its plan for a share buyback in the wake of the growing crisis

 

 

 

9% oppose Shell pay report at AGM

 

22 May 2012 05:18 PM

Nearly 10% of shareholder votes rejected Royal Dutch Shell's pay report at its annual meeting today after the oil giant's boss doubled his earnings last year.

 

 

 

Sweden's City Airline cancels all flights and files for bankruptcy

 

22 May 2012 04:22 PM

A Swedish airline that served the UK has cancelled all flights and filed for bankruptcy.

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

OECD sees euro crisis threatening world recovery

 

5:40pm BST

PARIS - The United States and Japan are leading a fragile economic recovery among developed countries that could yet be blown off course if the euro zone fails to contain its flaring growth crisis, the OECD said on Tuesday.

 

 

Euro zone consumer confidence rises in May

 

BRUSSELS - Euro zone consumer confidence nudged higher in May, figures released on Tuesday showed, though inflation and unemployment continued to temper improvements in sentiment.

 

SEC says probing JPMorgan's financial reporting

 

WASHINGTON - The head of the U.S. Securities and Exchange Commission told lawmakers on Tuesday that her agency is probing JPMorgan Chase and Co's financial reporting and emphasized that big banks are required to publicly disclose changes to the models they use to measure risk.

8:01pm BST

 

Japan's Panasonic plans fridge factory in Europe

 

LONDON - Japanese electronics group Panasonic plans to open a European factory this year to make home appliances, a market it is targeting as sales of televisions stagnate, in a rare vote of confidence for manufacturing in the crisis-hit euro zone.

Japan 7:28pm BST

 

Gupta on Rajaratnam's "important people" list - witness

 

NEW YORK - Former Goldman Sachs director and McKinsey & Co executive Rajat Gupta was on a list of "important people" that now-imprisoned hedge fund manager Raj Rajaratnam was willing to be disturbed to take their phone calls, his onetime secretary testified at Gupta's insider-trading trial on Tuesday.

Galleon Insider Trading Trial 7:23pm BST

 

Carmakers should back diesel law -EU tax chief

 

BRUSSELS - The European Union's tax chief wants carmakers to drop their opposition to proposals to change EU fuel taxation that are expected to halt a rise in diesel use, saying they will be given a decade to adapt engine production to a new regime.

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

22 May 2012 Last updated at 20:10

 

 

IMF tells UK to consider rate cut_60402695_christinelagardeandgeorgeosborne.jpg

 

The Bank of England should consider new boosts to the UK economy says the IMF as it backs the government's deficit-cutting strategy. 1048

 

 

_60399053_002901298-1.jpgUK inflation rate in fall to 3%

 

The UK inflation rate fell to 3% last month, its lowest since February 2010, owing to a slowdown in transport price rises.

 

 

 

M&S posts fall in annual profits

 

Marks and Spencer reports a fall in annual profits in what the retailer describes as a tough economic environment.

 

 

 

 

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]

 

Debt crisis: Markets rally ahead of EU leaders meeting

 

merkel-hollande_2225823g.jpg

Markets rally on hopes tomorrow's European leaders summit will agree measures to stem the debt crisis, and strong figures from the US housing market point to a recovery.

591 Comments

Britain faces 18 more months of pain, warns OECD

 

 

Germany's safe-haven status confirmed with zero rate bonds

 

 

Japan's credit rating cut by Fitch on debt fears

 

 

 

 

IMF: Osborne may need Plan B in November

 

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The International Monetary Fund has told the Government to cut taxes and boost spending as early as November if a series of other radical policy proposals fail to restore growth.

271 Comments

UK inflation falls to lowest for more than two years

 

 

Public sector borrowing flattered by Royal Mail windfall

 

 

 

Yell admits 'hibu' rebrand is meaningless

 

yell_2226310g.jpg

Yell might have £2.2bn of debt on its books but that didn’t stop the Yellow Pages directory publisher from spending “hundred of thousands of pounds” on a new name even its boss admits is meaningless.

12 Comments

 

M&S profits fall for first time in three years

 

ms_2226303g.jpg

Marks & Spencer, Britain's biggest clothing retailer, has posted a fall in profits, and scaled back its plans to substantially increase its sales, blaming the "increasingly challenging consumer backdrop".

43 Comments

 

Tesco chief Philip Clarke turns down bonus

 

clarke_2226326g.jpg

Philip Clarke, the chief executive of Tesco, has declined his annual bonus after the company posted its first drop in UK profits for at least 30 years.

62 Comments

 

Bernie Ecclestone confirms Formula 1 float

 

Bernie Ecclestone has confirmed that Formula 1 will be listed on the Singapore stock exchange by the end of next month.

Comment

 

Goldman board member 'threw away responsibilities'

 

 

 

 

National Lottery reaches record £6.5bn sales

 

 

 

 

Italian banks sell London Stock Exchange stakes

 

 

 

 

'Major failures' surround banks' interest rate swap scandal

 

Owed to my wife

 

shakespeare_2227191g.jpg

Telegraph View: Poets are good with words but bad with money.

Comment

Christine Lagarde tells Britain to step up recovery plan

 

 

 

 

Debt crisis: live

 

 

 

 

Angela Merkel 'astonished' by austerity debate as Germany left isolated on eurobonds

 

Japan's fiscal death is a warning to the West

 

japan_1514410f.jpg

Japan even more nonchalant than the US in efforts to rein in spending.

 

Has Krugman been reading a different report on the UK economy?

 

Drachma scarecrows and the Myths of Greek Exit

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

Zuckerberg’s Property Status, Post-Marriage

 

By TARA SIEGEL BERNARD

 

 

Whatever Mark Zuckerberg earned before marrying his college sweetheart is still solely his property afterward.

 

 

 

 

Property-sfSpan.jpg

Allyson Magda/Facebook, via Reuters

 

The marriage of Mark Zuckerberg and Priscilla Chan has prompted speculation of a prenuptial agreement.

 

 

 

 

 

 

DealBook

 

Rajaratnam's Executive Assistant Testifies in Gupta Trial

 

By PETER LATTMAN 32 minutes ago

 

The former executive assistant for the hedge fund titan Raj Rajaratnam describes a call she received from Rajat Gupta on Sept. 23, 2008 about 10 minutes before the market close.

 

DealBook

 

At Hearing, Regulators Discuss JPMorgan Investigation

 

By BEN PROTESS 2:39 PM ET

 

Two regulators confirm reports that their agencies had opened investigations into JPMorgan's trading debacle and said they were weighing whether it would reshape rules for Wall Street.

 

Euro Watch

 

O.E.C.D. Sees Euro Zone Crisis Hurting World Recovery

 

By DAVID JOLLY

 

The Organization for Economic Cooperation and Development cut its growth forecast for the euro zone and said Europe risked creating a cycle of decline.

 

 

France to Press Germany on Euro Bonds and Other Economic Measures

 

By NICHOLAS KULISH and MELISSA EDDY

 

At a meeting on Wednesday with European leaders, President François Hollande of France will press the issue of euro bonds, which some officials consider a step too far.

 

 

Fitch Downgrades Japan's Sovereign Rating

 

By HIROKO TABUCHI 9:57 AM ET

 

The agency warned that further downgrades were possible unless the government took new fiscal policy measures to stabilize public finances and its ratio of debt to gross domestic product.

 

23labor-thumbStandard.jpg

Former N.L.R.B. Member Appointed to A.F.L.-C.I.O. Role

 

By STEVEN GREENHOUSE

 

Craig Becker stepped down from the board in December after serving under a recess appointment by President Obama since March 2010.

 

Best Buy Profit Drops Amid Restructuring

 

By THE ASSOCIATED PRESS 11:52 AM ET

 

The electronics retailer said that first-quarter profit dropped 26 percent on restructuring charges as it began implementing its turnaround plan.

 

 

 

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

Here It Comes In Europe (Threats)

Someone needs to serve up a big fat plate of STFU before a war gets started over in Europe.... or perhaps that's the point of all the bluster and BS that's been flung around lately.

The latest insult comes here:

The Prime Minister insisted failure to provide clarity could prove disastrous for the world economy, and told the Greek people that fresh elections must decide once and for all whether the country stays in the eurozone.

The message came as his Cabinet colleague Ken Clarke said the European banking system was already "in tatters".

Mr Clarke warned that Britain was "heavily exposed" to potential problems and could be among the next targets for market speculation.

 

Why is this Greece's problem?

Mr Balls said Mr Cameron and other leaders had to persuade Germany to "pull its weight".

"In the end... somebody has got to persuade Germany that this is a catastrophe for Britain, Europe and the world and that Germany has got to change course," he added.

"The problem is, the German people went into the eurozone 10 years ago on the clear promise that they weren't going to bail out Italy and the central bank wasn't going to play this role.

"Both things have got to change."

Pull its weight?

Promises made as a condition of entry into a contract are unenforceable?

 

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

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

Mark Zuckerberg loses friends on Wall Street as regulators probe $19bn slump

 

23 May 2012 07:00 AM

Facebook investors rage at 18 per cent fall after some were not told of last-minute change to key projections

 

 

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M&S profits drop for first time in three years as the squeeze hits

 

23 May 2012 12:00 AM

High street stalwart feels the pinch after shoppers reined in spending and a damp April made things worse

 

 

 

BAE signs £1.6bn Saudi jets deal

 

23 May 2012 03:28 PM

Defence giant BAE Systems has won a £1.6 billion contract to supply Hawk aircraft to Saudi Arabia, preventing more than 200 potential job losses at one of its factories.

 

 

 

Burberry lifted by menswear demand

 

23 May 2012 12:05 PM

A greater focus on the menswear market boosted Burberry today as the luxury goods group reported a 24% jump in annual profits.

 

 

 

Rain dampens summer clothing sales

 

23 May 2012 10:28 AM

Clothing retailers suffered their worst sales performance in nearly four years in April, official figures showed today, as heavy rain dampened demand for a new summer wardrobe.

 

 

 

Amazon warned over delivery claim

 

23 May 2012 08:38 AM

Online retailer Amazon has been ordered to clarify advertising about its premium one-day delivery service after customers complained that they had been left waiting for orders.

 

 

 

Facebook stock climbs after rocky start but still 16 per cent below initial public offering price

 

23 May 2012 05:51 PM

Facebook's stock is climbing higher, a reprieve for shareholders after the stock's rocky inaugural trading day on Friday was followed by a two-day decline.

 

 

 

EU summit fails to inspire markets

 

23 May 2012 04:43 PM

A summit of EU leaders failed to inspire confidence among investors today as European markets suffered further heavy losses amid ongoing fears for the eurozone.

 

 

 

Google opposed to government proposals to introduce filters blocking internet pornography

 

23 May 2012 03:45 PM

Google has said it is opposed to government proposals to introduce filters blocking internet pornography because they will amount to censorship and risk encouraging lazy parenting online.

 

 

 

JCB wins £36m hire firm contract

 

23 May 2012 02:45 PM

Manufacturing firm JCB has won a £36 million contract to build 550 new machines from a UK rental firm, with the promise of more orders to follow.

 

 

 

FirstGroup plans overhaul of its bus services

 

23 May 2012 11:44 AM

FirstGroup put more of its bus services on the block today after admitting fuel costs, lower demand and reduced subsidies were hurting the division.

 

 

 

MPC voted unanimously in favour of holding interest rates at record low

 

23 May 2012 11:40 AM

The pressure on Bank of England policymakers was underlined today as minutes revealed their decision not to inject more cash into the struggling economy earlier this month was "finely balanced".

 

 

 

Nationwide unveils SME lending plan

 

23 May 2012 10:15 AM

A new player in the small business lending market is set to emerge after building society Nationwide today unveiled plans to build up a range of services in the coming years.

 

 

 

London-Stansted.jpeg

Business as usual despite strike, says Stansted

 

23 May 2012 08:25 AM

Passengers were advised to check in as normal at Stansted Airport today despite the first of a wave of strikes by ground staff in a row over rosters.

 

 

 

pg-4-germany-getty.jpg

Angela Merkel under pressure to sign up to eurozone stimulus plan

 

23 May 2012 10:06 AM

European Union leaders will tonight pledge to give greater priority to securing economic growth as they increase the pressure on Germany to do more to solve the eurozone crisis.

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

Spain to fill 9 billion euro funding gap at Bankia

 

MADRID - Spain said on Wednesday its rescue of problem lender Bankia would cost at least 9 billion euros (7.2 billion pounds), as the government tries to clean up a banking system that threatens to drag the country deeper into the euro zone crisis.

 

Retail sales slide at fastest pace in 2 years in April

 

LONDON - Retail sales fell at their fastest monthly pace in more than two years in April, after a record drop in fuel sales and a weather-related drop in clothing sales, official data showed on Wednesday.

UK, 1:12pm BST

 

J&J, Amazon on list that hedge funds love to hate

 

BOSTON - Hedge funds turned their backs on Johnson & Johnson and Amazon.com Inc in the last months, kicking the former market darlings into a group where they see stock prices dropping, research from Goldman Sachs shows.

7:55pm BST

 

GE's Immelt still aims for 'smaller' finance arm

 

- General Electric Co plans to continue to shrink its finance arm, pulling back from consumer finance and reducing its real estate holdings, but Chairman and Chief Executive Jeff Immelt said on Wednesday he did not know how long the change would take.

7:01pm BST

 

Gilts hit highs as euro woes, BoE minutes fuel QE bets

 

LONDON - The yield on 10-year gilts fell to a record low and gilt futures hit a contract high on Wednesday, driven by deep-seated concerns about the euro zone and speculation the Bank of England will soon inject more stimulus into the British economy.

Euro zone to prepare for Greek exit scenario - sources

 

7:34pm BST

BRUSSELS - Each euro zone country will have to prepare a contingency plan for the eventuality of Greece leaving the single currency, euro zone sources said on Wednesday.

Nationwide takes £103 million loan mis-selling hit

Euro crisis pain primes Britain for more stimulus

 

The Bank of England signals it is likely to pump more money into the struggling British economy if the euro crisis causes more mayhem, and the government flagged new steps to boost 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.

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23 May 2012 Last updated at 19:22

 

 

Shares hit by concern over Greece_60433421_014703417-1.jpg

 

World stock markets fall sharply ahead of an EU meeting, as concerns mount over Greece's future in the euro.

 

 

_60439702_014660394-1.jpgFacebook and banks face lawsuit

 

Facebook, its founder Mark Zuckerberg, and the banks leading its flotation are sued over claims that financial information was not disclosed.

 

 

 

_60427428_brightongarageforecourtwithnofuelsign.jpgBig fall in April UK retail sales

 

UK retail sales volumes fell sharply in April largely because of a record fall in petrol sales, according to official figures.

 

 

 

Eurozone in crisis

 

 

 

 

 

 

Other Top Stories

 

 

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

[/url]

 

Mark Zuckerberg sued by Facebook shareholders over disastrous IPO

 

facebook_2223612g.jpg

Lawsuit accuses Zuckerberg, Facebook and several banks led by Morgan Stanley of hiding the company's weakened growth forecasts ahead of its $16bn initial public offering.

 

 

Bundesbank: Greek exit would be 'manageable'

 

greece-afp_2221494g.jpg

EU leaders arrive in Brussels for growth summit as the Bundesbank says a Greek exit from the euro would be "manageable" and Athens denies that eurozone leaders were told to prepare for the eventuality.

596 Comments

US 'risks falling back into recession' next year

 

 

Greece denies eurozone preparing break-up contingency plans

 

 

Bundesbank says Greek euro exit would be 'manageable'

 

 

 

Spain injects €9bn into ailing lender Bankia

 

guindos_2207008g.jpg

Spain's finance minister said the government would inject “at least €9bn” (£7.2bn) into ailing lender Bankia while insisting it was an isolated problem which would not spread to the rest of the country’s banking system.

4 Comments

 

FSA warns banks of action over swaps scandal

 

turner_1011570c_2227813g.jpg

The Financial Services Authority has warned banks it will “take action” over the alleged mis-selling of interest rate swaps to small businesses if it finds “widespread evidence of breaches of our rules”.

9 Comments

 

Bean defends Bank against QE pensions attack

 

pension_1989880g.jpg

The Deputy Governor of the Bank of England has told pension funds they cannot count on a rise in gilt yields to close their ballooning deficits as he warned that more quantitative easing may be on the way.

26 Comments

 

Retail sales show surprise drop after rain

 

British retail sales fell at their fastest monthly pace in more than two years in April, after a record drop in fuel sales and a weather-related drop in clothing sales, official data showed.

58 Comments

 

House of Fraser blames weather and web for profit slip

 

 

 

 

Robert Tchenguiz had Kaupthing execs 'resident’ in his home

 

 

 

 

BAE strikes Hawk deal with Saudi Arabia

 

 

 

 

Burberry's Angela Ahrendts: men want to look smart

 

Debt crisis: live

 

PD53815106_Germany_2220402g.jpg

EU leaders arrive in Brussels for growth summit as the Bundesbank says a Greek exit from the euro would be "manageable" and Athens denies that eurozone leaders were told to prepare for the eventuality.

596 Comments

Greece denies eurozone preparing break-up contingency plans

 

 

 

 

US 'risks falling back into recession' next year

 

 

 

 

Low staff levels 'could make ESM ineffective'

 

Ireland's 'bad bank' to spend €2bn on property

 

ireland_2227833f.jpg

NAMA to use money to complete projects and start new developments.

 

Has Krugman been reading a different report on the UK economy?

 

Papademos, Grexit, and catastrophe blackmail

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

As Greece Turns Leftward, Its Tycoons Stay in Background

 

By LANDON THOMAS Jr. and ELENI VARVITSIOTI 2:06 PM ET

 

 

As the star of Alexis Tsipras continues to rises, Greece’s elite have even greater reason to lie low. A few, however, are stepping up with donations and ideas on addressing the debt crisis.

 

 

 

24magnates-sfSpan.jpg

Hiroko Masuike/The New York Times

 

Andreas C. Dracopoulos, co-president of the Stavros Niarchos Foundation.

 

 

 

 

 

24eurozone-thumbStandard.jpg

Stocks Fall as E.U. Leaders Gather in Brussels

 

By DAVID JOLLY 1:44 PM ET

 

Stocks fell from Asia to New York, and the euro tumbled nearly to a two-year low ahead of a meeting about Greece.

 

 

GREECE-thumbStandard.jpg

Greek Businesses Fear Possible Return to Drachma

 

By LIZ ALDERMAN

 

The move would involve complex legal and financial steps and could set back the economy further, many say.

 

 

DealBook

 

Facebook Shares Up Even as Lawsuits Are Filed Over I.P.O.

 

By DEALBOOK 12:50 PM ET

 

The small gain, in renewed heavy trading, came as several suits were filed on behalf of investors over the handling of the initial public offering.

 

 

New-Home Sales Rise

 

By THE ASSOCIATED PRESS 10:46 AM ET

 

Sales were up in all regions of the United States in April except the South. The median price rose to $235,700, a slight increase from March.

 

DealBook

 

New Rules for Prepaid Debit Cards

 

By BEN PROTESS and JESSICA SILVER-GREENBERG

 

The Consumer Financial Protection Bureau will impose new restrictions on prepaid debit cards, highly profitable products for banks that until now have been mostly unregulated.

 

 

Bits Blog

 

Venture Capital Partner Claims Sexual Harassment

 

By NICOLE PERLROTH

 

Kleiner Perkins Caufield & Byers, the blue-chip Silicon Valley venture capital firm known for its early investments in Google, is being sued by an investment partner.

 

 

Google Privacy Inquiries Get Little Cooperation

 

By DAVID STREITFELD and KEVIN J. O’BRIEN

 

All sorts of private Internet communications were casually scooped up as Google Street View cars photographed the world’s streets.

 

 

 

 

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

Oh Look, A (Backhanded) Admission Of Fraud!

 

I love it when this sort of thing happens....

The
U.S. economy
will probably tip back into recession next year if Congress fails to address an impending “fiscal cliff,”the
Congressional Budget Office
said.

The nonpartisan agency said in a report late yesterday that the economy would contract at an annual rate of 1.3 percent in the first half of 2013 if lawmakers allow the George W. Bush-era tax cuts to expire and $1.2 trillion in government spending cuts to take effect in January.

"Fails to address"?

Is this an admission that the so-called "growth" of those years (and up until now) was a fraud? You bet it is.

 

More at the link.

 

More debt needed to get 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

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

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