The great intrest rate rip off part 7

[interestrateripoff]

Biderman: "The Most Damage Is Caused By Those Who Are Not As Smart As They Think They Are"

 

David Stockman: "The Capital Markets Are Simply A Branch Casino Of The Central Bank"

 

Economic Countdown To The Olympics 5: Ten Olympic Trends

 

The Li(e)bor Rigging Scandal Infographic For Dummies

 

GM Stock Slides To Fresh Post-Bankruptcy Lows

 

The Reality Of Moody's European AAA Downgrades

 

Art Cashin On Chief Justice Bernanke's "Delay And Pray" Strategy

 

Treasury Yields Tumble To New All-Time Lows

 

David Einhorn Throws France Under The Bond Vigilante Bus

 

Santelli Rants: "Ditch The Duct Tape; The Problem Is Insolvency"

 

Europe Smashes All Market Records On Its Way To Total Insolvency

 

Troika Says Greece Needs Another Debt Restructuring Round

 

Richmond Fed Faceplants At -17, Expectations Of Rise To -1; Worst Since April 2009

 

Charting America's Ever Shrinking "Revisionist" Economy

 

Dominoes Tumbling: Catalonia Informally Requests Bailout As Spain Considering Credit Line Request

 

Six Reasons Why Spain Will Be Forced To Request A Sovereign Bailout

 

The Issue Of 'Moments'

 

Global Trade And Logistics Bellwether UPS Misses Top and Bottom Line, Cuts Forecast

 

Goldman Murders Muppets, Tells Them To Stay Long Spanish, Italian Bonds

 

Spain Not Uganda - Increasingly Looking Like Vigilante Hell With 2 Year At 6.66%, 10 Year At 7.6%

[interestrateripoff]

http://www.housepricecrash.co.uk/forum/index.php?showtopic=177935&view=findpost&p=909096825

Chart from this post here:

 

[interestrateripoff]

Breaking news

 

 

• Euro is irreversible, declares ECB president Mario Draghi
   
  European Central Bank will do 'whatever it takes' to preserve the currency
   
  
  • Latest “The IMF has welcomed Draghi's comments, but appears to be playing them down slightly. A spokesman called them "a welcome reiteration of the ECB's…” Eurozone crisis live: Mario Draghi vows to save eurozone
     
    
  • ECB eases Eurozone fears
    
  • Spanish bond yields back from the brink
    

  [*] Lloyds admits Libor risk and takes another hit on PPI

   

  António Horta-Osório warns of 'deep crisis of confidence' in industry as the bailed-out bank takes another £700m charge for mis-selling PPI

  10 comments

  • Santander sees profits halve after move into property
    
  • £9m leaving deal for Barclays' Jerry del Missier
    
  • Barclays pay chair Carnwath quits
    
  • Nils Pratley: wrong time, wrong job
    
  • MPs tell Barclays to stop fundraising for Romney
    
  • Geithner blames UK over Libor
    

  [*] British Gas profits and bills rise

   

  Profits at British Gas have risen by 23% to £345m as the return of the bleak British weather hiked household energy bills by £90 in the first half

  69 comments

  [*] Insider trading: Nomura CEO quits

   

  Kenichi Watanabe takes responsibility for scandal at Japan's top investment bank

  [*] Nationwide fiasco sees customers' accounts debited twice

   

  Several of the building society's account holders were sent overdrawn and have been venting their frustrations on Twitter

  104 comments

 

 

• Facebook gets ready to deliver first earnings report after disastrous start
   
  Social network to release maiden financial results amid calls for Mark Zuckerberg to reassure investors
  
• AstraZeneca sales tumble 18% in Q2
   
  Struggling drugmaker hit by competition to Seroquel, lower health spending and IT problems causing supply chain disruption
  Post your comment
  
  • GSK chief apologises after US fine
    

  [*] BSkyB reports 17% rise in profits

   

  Pre-tax profit rises to almost £1.2bn as customer base grows to 10.6m households

  [*] Cameron says UK must do more after 'disappointing' economic figures

   

  Prime minister blames damage done in 'boom-and-bust years' for 0.7% contraction in British economy

  770 comments

  • Osborne reeling as economy enters disaster zone
    
  • Olympics 'could bounce economy out of recession'
    
  • Editorial: Osborne's mess
    
  • Larry Elliott: analysis
    

  [*] Wannabe astronaut looks to asteroids

   

  Eric Anderson launched tourists into space on Russian rockets at 23. Now he wants to go out of this world for minerals

  139 comments

  [*] More business news

  [*] National Express profits hit by rail franchise loss

  [*] Sony chairman Sir Howard Stringer joins TalkTalk board

  [*] Weill backs banking split

   

  • Nils Pratley: A sinner repents
    

[interestrateripoff]

Disgraced Barclays chief Jerry del Missier banks £9m payoff

 

26 July 2012 08:00 AM

Fury at bonus for top banker in rate-fixing scandal

 

 

 

Eurozone crisis takes its toll on BT profits

 

26 July 2012 12:00 AM

Telecoms giant among several British companies which are being buffeted by the turmoil in the single currency

 

 

Plans for £8 billion redevelopment of Battersea power station announced

 

26 July 2012 12:00 AM

Plans for an £8bn redevelopment of Battersea power station were announced last night as a precursor for a series of trade deals that the Government hopes will be clinched during the Olympic Games.

 

 

 

Shell disappoints as profits fall

 

26 July 2012 11:43 AM

Falling energy prices left its mark on Royal Dutch Shell today after a weaker-than-expected profits performance drove a big fall in its share price.

 

 

 

London 2012: Coca-Cola, McDonald’s and Cadbury given 'unrivalled platform' to promote unhealthy brands at Olympics

 

26 July 2012 12:00 AM

Coca-Cola, McDonald’s and Cadbury’s are being given an “unrivalled platform” to promote unhealthy brands and products at the Olympics, says a new study.

 

 

 

BSkyB profits hit new peak

 

26 July 2012 10:00 AM

Satellite broadcaster BSkyB unveiled record profits today as a dramatic football season and hit US shows such as Game of Thrones continued to boost customer numbers.

 

 

 

Parliamentary inquiry into banking gets underway

 

26 July 2012 11:52 AM

The parliamentary inquiry into banking got under way in earnest today, with a call for written evidence on ethics and standards in the industry.

 

 

 

Alcatel-Lucent to cut 5,000 jobs

 

26 July 2012 09:58 AM

Alcatel-Lucent has said it will slash costs and cut 5,000 jobs after it posted a net loss for the second quarter of 254 million euro (£199 million).

 

 

 

Lloyds reveals loss after PPI hit

 

26 July 2012 07:52 AM

The bill for mis-sold payment protection insurance (PPI) at taxpayer-backed Lloyds Banking Group has soared to £4.3 billion as claims against the bank continue to pile up.

 

 

 

British Gas owner Centrica boosts profits

 

26 July 2012 02:50 PM

British Gas has come under pressure to drop its prices after a “shocking” 23 per cent hike in profits triggered a consumer backlash.

 

 

 

Continent's car industry woe hits Ford and Citroën

 

26 July 2012 12:00 AM

Ford, the American car maker, warned it faces $1bn (£646m) in losses in its European division this year, as the Continent's car industry slipped deeper into crisis.

 

 

 

GlaxoSmithKline return to sales growth is held back by austerity-led price pressure

 

26 July 2012 12:00 AM

Sharp declines in drug revenues in Europe and the US as austerity-struck governments demand price cuts saw Britain's biggest pharmaceuticals group, GlaxoSmithKline, yesterday warn of flat sales this year.

 

 

 

Barclays loses another director as Alison Carnwath quits board

 

26 July 2012 07:00 AM

One of the most high-profile women in the City has quit as head of the committee that sets pay for Barclays' directors in the latest blow to the bank.

 

 

 

McFall attacks traders

 

26 July 2012 12:00 AM

One of the leading figures on the new committee of MPs and peers which is examining the banking sector has said the City traders behind the Libor and other scandals should be treated as no better than street drug dealers.

 

 

 

Number of shops starts to decline

 

26 July 2012 12:00 AM

The woes of the UK high street will be laid bare today by data showing that store numbers fell for the first time in nearly four years in the second quarter.

 

Geithner's 'early alert' on Libor

 

26 July 2012 12:00 AM

The US Treasury Secretary, Timothy Geithner, told the House of Representatives Financial Services Committee yesterday he had alerted the appropriate authorities "early on" about concerns over the key Libor interest rates.

 

 

 

Theo Fennell hoping its luck will turn

 

26 July 2012 12:00 AM

Finely crafted scallop, evil eye and zodiac lucky charms were not enough to ward off losses at jeweller-to-the-stars Theo Fennell.

 

 

 

HSBC is fined £18m in Mexico

 

26 July 2012 12:00 AM

HSBC was yesterday fined $27.5m (£17.7m) in Mexico for the failings in its anti-money laundering systems that a US senate panel alleges enabled drug barons to launder money.

 

 

 

Special dividend hint as easyJet profits soar

 

26 July 2012 12:00 AM

EasyJet yesterday hiked its annual profit forecast after Britons flocked to book flights to its sunniest destinations – and City analysts hinted a £200m special dividend could be on the way as a result.

 

 

 

British Gas owner Centrica boosts profits

 

26 July 2012 02:50 PM

British Gas has come under pressure to drop its prices after a “shocking” 23 per cent hike in profits triggered a consumer backlash.

 

 

 

Parliamentary inquiry into banking gets underway

 

26 July 2012 11:52 AM

The parliamentary inquiry into banking got under way in earnest today, with a call for written evidence on ethics and standards in the industry.

 

 

 

Shell disappoints as profits fall

 

26 July 2012 11:43 AM

Falling energy prices left its mark on Royal Dutch Shell today after a weaker-than-expected profits performance drove a big fall in its share price.

 

 

 

BSkyB profits hit new peak

 

26 July 2012 10:00 AM

Satellite broadcaster BSkyB unveiled record profits today as a dramatic football season and hit US shows such as Game of Thrones continued to boost customer numbers.

 

 

 

Alcatel-Lucent to cut 5,000 jobs

 

26 July 2012 09:58 AM

Alcatel-Lucent has said it will slash costs and cut 5,000 jobs after it posted a net loss for the second quarter of 254 million euro (£199 million).

 

 

 

Disgraced Barclays chief Jerry del Missier banks £9m payoff

 

26 July 2012 08:00 AM

Fury at bonus for top banker in rate-fixing scandal

 

 

 

Lloyds reveals loss after PPI hit

 

26 July 2012 07:52 AM

The bill for mis-sold payment protection insurance (PPI) at taxpayer-backed Lloyds Banking Group has soared to £4.3 billion as claims against the bank continue to pile up.

 

 

 

Barclays loses another director as Alison Carnwath quits board

 

26 July 2012 07:00 AM

One of the most high-profile women in the City has quit as head of the committee that sets pay for Barclays' directors in the latest blow to the bank.

 

 

 

London 2012: Coca-Cola, McDonald’s and Cadbury given 'unrivalled platform' to promote unhealthy brands at Olympics

 

26 July 2012 12:00 AM

Coca-Cola, McDonald’s and Cadbury’s are being given an “unrivalled platform” to promote unhealthy brands and products at the Olympics, says a new study.

 

 

 

Plans for £8 billion redevelopment of Battersea power station announced

 

26 July 2012 12:00 AM

Plans for an £8bn redevelopment of Battersea power station were announced last night as a precursor for a series of trade deals that the Government hopes will be clinched during the Olympic Games.

 

 

 

Eurozone crisis takes its toll on BT profits

 

26 July 2012 12:00 AM

Telecoms giant among several British companies which are being buffeted by the turmoil in the single currency

[interestrateripoff]

26 July 2012 Last updated at 15:59

 

 

Profits at British Gas owner rise

 

Centrica, the owner of British Gas, reports a 15% rise in first-half profits to £1.45bn, including a 23% rise in profits at British Gas.

 

• Peston: British Gas profits too big?
  
• How to switch energy suppliers
  

 

ECB chief's comments spark rally

 

European Central Bank chief Mario Draghi says the bank is ready to do "whatever it takes" to support the euro, prompting a rally in shares and the currency.

 

• EU's Barroso in Greece for talks
  

 

 

Debits taken twice by Nationwide

 

An error at Nationwide means that some account holders have seen money taken from their accounts twice.

 

 

 

• Lloyds increases PPI provision
   
  Lloyds Banking Group reports a half-year loss of £439m and says it has increased provision for payment protection insurance claims by £700m.
  
• Cameron defends economic policies
   
  The prime minister says the government has acted "decisively" on the economy, as he addresses an Olympics event targeting investment in the UK.
  
• BBA 'warned weekly' about Libor
   
  The British Bankers' Association was given weekly warnings during 2008 that the process of setting the Libor interest rates was being corrupted.
  
• New customers boost BSkyB profits
  
• Honda to scale back UK output
  
• Nomura chief quits over scandal
  
• Engine demand lifts Rolls-Royce
  
• BAA loses latest Stansted appeal
  
• Nissan profits hit by strong yen
  
• Shell profits hit by weak prices
  
• Spain's woes hit Santander again
  
• Alcatel Lucent slashes 5,000 jobs
  
• EU's Barroso in Greece for talks
  
• Chinese warning over solar panels
  
• Lloyds shows cost of alienating customers
   
  18 minutes ago
  Lloyds is receiving record numbers of bogus claims for PPI compensation and is employing 1000 people full time just to deal with the fictitious claims. The scale of false compensation claims may show how much trust and respect has been lost by the banks.
  
• Tough choices for Mr Osborne
   
  2 hours ago
  David Cameron today promised business leaders that the government would "continue to take the tough decisions that are necessary" but bad economic news is already forcing tough decisions on his chancellor.
  

[interestrateripoff]

[/url]

 

Mario Draghi: ECB ready to do 'whatever it takes' to preserve euro

 

Markets surge and Spanish borrowing costs fall back below 7pc as the head of the ECB says the euro's critics should not underestimate the political will of leaders to save the single currency.

528 Comments

Draghi to do 'whatever it takes' to save euro

 

 

Euro exit beats begging bowl, says Cascos

 

 

 

 

Nationwide 'glitch' hits '2m transactions'

 

Customers of Nationwide, the country's biggest building society, have seen as many as 2m transactions affected by an apparent technical problem with the mutual's payment systems.

69 Comments

First Nationwide, now NatWest suffers second systems glitch

 

 

 

British Gas profits jump to £1.9m a day

 

Profits at the residential arm of British Gas owner, Centrica, jumped by 23pc during the first half of the year as gas consumption rose just 3.5pc, fanning flames of anger over recent price rises.

227 Comments

Centrica profit rise: analyst and industry reaction

 

 

Consumer groups accuse British Gas of profiteering

 

 

 

US financiers to meet for Romney fundraiser

 

A group of senior US financiers will tonight host a $25,000-a-plate fundraising dinner in London for US Republican presidential candidate Mitt Romney.

Comment

 

Lloyds Banking Group posts loss on PPI costs

 

Lloyds Banking Group fell to a new loss for the first six months of the year, as chief executive Antonio Horta-Osorio admitted that the British banking sector faced a "deep crisis" of confidence and trust.

59 Comments

 

Rolls-Royce sales rise as civil aerospace grows

 

Rolls-Royce sales rose in the first-half of the year as the FTSE 100 engineer enjoyed surging demand from Boeing and Airbus for fuel-efficient engines.

3 Comments

 

Shell profits slump on falling energy prices

 

 

 

 

BBC Olympics coverage to hurt ITV

 

 

 

 

Nomura CEO quits over insider trading scandal

 

British regulators are to blame for Britain's perma-slump, not Europe

[interestrateripoff]

Retailers’ Idea: Think Smaller in Urban Push

 

By STEPHANIE CLIFFORD

 

 

With little room to expand in the suburbs, retailers like Office Depot, Wal-Mart and Target have aimed their expansion plans at cities, overhauling store sizes, packages and signs.

 

• Post a Comment | Read (44)
  

 

 

 

Daniel Borris for The New York Times

 

Target opened one of its first City Targets in Chicago on Wednesday, offering more compact packages to cater to urban shoppers.

 

 

 

 

 

 

 

Euro Watch

 

Assurances on Euro by Central Bank Chief Lift Stocks

 

By JACK EWING 9:07 AM ET

 

Markets and the euro rose after Mario Draghi told a conference in London that the central bank would “do whatever it takes to preserve” the currency.

 

• Stocks Leap on Central Bank Remarks 9:36 AM ET
  

 

DealBook

 

Nomura Chief Quits Amid Insider Trading Scandal

 

By HIROKO TABUCHI 9:53 AM ET

 

The Japanese bank's chief executive, Kenichi Watanabe, and one of his top lieutenants resigned on Thursday in response to recent revelations that their employees abetted insider trading.

 

Exxon and Shell Earnings Disappoint

 

By CLIFFORD KRAUSS and STANLEY REED 9:03 AM ET

 

The companies blamed lower prices for oil and gas worldwide, and analysts said higher production costs were also a factor.

 

Alcatel-Lucent to Cut 5.000 Jobs Amid Quarterly Loss

 

By KEVIN J. O’BRIEN 9:33 AM ET

 

The reductions amount to 6.6 of its global workforce. At the same time, the telecom network equipment maker will try to increase the revenue it gets from licensing patents.

 

The New York Times Co. Posts a Loss

 

By AMY CHOZICK 9:12 AM ET

 

The company cited a write-down in the value of About.com and continuing declines in print and digital advertising revenue.

 

Durable Goods Data Offer Mixed View

 

By THE ASSOCIATED PRESS 30 minutes ago

 

Although overall orders rose, companies cut back on orders for most long-lasting factory goods last month, the Commerce Department said. Separately, new jobless benefits claims fell last week.

 

Fed Sees Both Benefits and Risks in New Moves

 

By BINYAMIN APPELBAUM

 

The Federal Reserve is weighing its options as economic growth remains sluggish.

 

The News Isn’t Good for Zynga, Maker of FarmVille

 

By DAVID STREITFELD and JENNA WORTHAM

 

A shortfall in revenue and a weak outlook sent the social game developer’s stock plunging by nearly 40 percent on Wednesday. The news was seen as boding ill for Facebook.

 

Severe Drought Seen as Driving Cost of Food Up

 

By ANNIE LOWREY and RON NIXON

 

The Agriculture Department said the cost of beef would increase the most, up to 5 percent, because of the weather and rising prices for animal feed.

[interestrateripoff]

FTSE close higher on ECB action pledge

 

LONDON - The FTSE 100 rose on Thursday after European Central Bank president Mario Draghi pledged to act if needed to preserve the euro, boosting sentiment among investors hoping for a fresh round of stimulus.

 

• Lloyds pulled deeper into Libor probe 4:42pm BST
  
• Draghi sends strong signal that ECB will act 5:01pm BST
  
• U.S. examining survey-based financial measures for rigging - Geithner 5:10pm BST
  
• LVMH profit rises 20 percent 5:16pm BST
  
• Areva raises outlook on improved nuclear prospects
  

L'Oreal keeps targets after bumper Q2 growth

 

PARIS - France's L'Oreal , the world's biggest cosmetics maker, on Thursday reiterated it was on track to outperform its market in 2012 after second-quarter sales grew 5.7 percent on a like-for-like basis.

5:20pm BST

 

Volkswagen earnings growth slowed by tech costs and euro crisis

 

BERLIN - Germany's Volkswagen AG suffered a slowdown in underlying profit growth in the second quarter, as costs of a technology overhaul and Europe's deepening debt crisis weighed on the car maker's earnings.

2:41pm BST

 

SABMiller scores with soccer-led growth in Europe

 

LONDON - Football fever helped global brewer SABMiller to return to growth in Europe as the Euro 2012 tournament boosted Polish beer sales and saw its overall quarterly beer volumes beat forecasts with a 5 percent rise.

1:11pm BST

 

HSBC Mexico chief says fine concludes money-laundering probe

 

MEXICO CITY - Mexico's probe into the local operations of Europe's biggest bank, HSBC Holdings Plc , over lax controls against money laundering has concluded following a fine imposed by regulators, the bank's head in Mexico said on Thursday.

[interestrateripoff]

Claims: Holy Crap!

Talk about whipsaws....

In the week ending July 21, the advance figure for seasonally adjusted

initial claims

was 353,000, a decrease of 35,000 from the previous week's revised figure of 388,000. The 4-week moving average was 367,250, a decrease of 8,750 from the previous week's revised average of 376,000.

Meh. I like the big table, and you better pay attention to this as there was a huge spike that was not reflected in the "regular" claims number a couple of weeks back.

 

More at the link.

[interestrateripoff]

Durables: Look Inside!

Gotta look beyond the headline this time folks....

New orders for manufactured durable goods in June increased $3.4 billion or 1.6 percent to $221.6 billion, the U.S. Census Bureau announced today. This increase, up two consecutive months, followed a 1.6 percent May increase. Excluding transportation, new orders decreased 1.1 percent. Excluding defense, new orders decreased 0.7 percent.

That sucks. Sorry folks, it's all transportation and defense. Meh.

So what's inside the report? On new orders down are Fabricated metal products, machinery, computers, communications, electrical and "all others." Ex-aircraft new orders for all capital goods were down 1.4%.

 

More at the link.

[interestrateripoff]

Guest Post: Are You Loving Your Servitude Yet?

 

Europe 'Soars' To 4-Day High On Draghi 'Solution'

 

On The Path To Global Goldmanation: Former Goldmanite Mark Carney To Head The BOE After All?

 

Forget Double Dip, The UK Is Now In A Depression

 

Goldman Interprets Draghi

 

Presenting The Good, Bad, And Nuclear Options For The Fed

 

Here Is Why Angela Merkel Has Not Responded To Draghi Just Yet

 

Some Context On Europe's Sovereign Rally This Morning

 

As A Matter Of Evidence

 

And Here Is What Draghi CAN Do, In His Own Words

 

First Responses To Draghi's "Deliberately Ambiguous" Remarks Trickle In

 

ECB's Draghi Repeats The Party Line, Forces Another Brief EUR Squeeze, Sends Futures Soaring

 

It's Impossible For Governments To Grow Their Way Back To Solvency

 

Guest Post: Why Listen To Keynes In The First Place?

 

Kyle Bass Vindication Imminent? Largest Japanese Pension Fund Begins To Sell JGBs

 

Guest Post: You Didn’t Build That

 

Deep Fried Black Swan Goes Global As Drought Spreads From US To Asia, And Now To Southern Europe

[interestrateripoff]

Breaking news

 

• Exclusive - Huffington Post executive Lauren Kapp to exit after just 3 months - Reuters
  

 

 

 

• Merkel and Hollande pledge to safeguard embattled euro
   
  Last updated 14 minutes ago
  German chancellor and French president act to ease fears that Spain's economic woes could threaten European single currency
   
  
  • Eurozone crisis live: Draghi's 'new plan' cheers markets
    
  • Spanish recession to last until 2014, IMF warns
    
  • Spanish unemployment reaches record high
    
  • Markets rally on ECB chief's pledge to preserve euro
    
  • Euro is irreversible, declares Mario Draghi
    
  • Germany feels effect of crisis as firms struggle
    
  • Rescue gamble may not bluff the markets for long
    
  • ECB eases Eurozone fears
    
  • Spanish bond yields back from the brink
    

  [*] Barclays FD investigated by FSA

   

  In wake of Libor scandal Chris Lucas under FSA spotlight over £7.3bn funds raised from Middle East investors in 2008

   

  • Lloyds admits Libor risk and takes another hit on PPI
    
  • £9m leaving deal for Barclays' Jerry del Missier
    
  • Barclays pay chair Carnwath quits
    
  • MPs tell Barclays to stop fundraising for Romney
    
  • Nils Pratley: Lord Turner needs safer soundbites
    
  • Geithner blames UK over Libor
    

  [*] US growth slows as consumers cut back on spending

   

  GDP grew at 1.5% between April and June, government figures show, compared to 2% in the previous three months

   

  • GDP data shows US economy is losing altitude – along with Obama's chances
    

  [*] Emirates boss questions PM's strategy

   

  But prime minister and chancellor insist they will stick to their austerity package despite disappointing GDP figures

   

  • Cameron and co drum up business for UK plc
    
  • George Osborne: no U-turn on deficit reduction plan
    
  • PM: UK must do more after 'disappointing' figures
    
  • Cameron challenged by global business leaders
    
  • Osborne reeling as economy enters disaster zone
    
  • Olympics 'could bounce economy out of recession'
    
  • Larry Elliott: analysis
    

 

 

• Chinese brands coming to the high street
   
  'Made in China' is usually what it says on clothing labels but ambitious Chinese retailers are now looking to make their own brands household names in the UK
  Post your comment
  
• Facebook shares hit new low on worries about its mobile strategy
   
  First set of results as public company show revenues in line with forecasts but mobile concerns remain
  2 comments
  
  • Facebook shares fall after modest results
    
  • Amazon.com results fall short of forecast
    
  • Samsung Galaxy boosts profits
    

  [*] Six sentenced for insider trading

   

  But Ersin Mustafa, the JP Morgan Casenove print manager allegedly at the heart of the conspiracy, said by brother to have escaped to Cyprus

  [*] Penguin profits slump, but ebook revenues rise 33%

   

  Penguin parent Pearson blames success of Fifty Shades of Grey for 48% fall in operating profit

  [*] BP to pay $3bn fine over Rosneft deal

   

  BP ordered to pay to its joint venture TNK-BP after Siberian shareholder claimed link with Rosneft damaged company's value

   

  • Shell earnings fall 13% in Q2
    

  [*] More business news

  [*] June house prices show small rise

[interestrateripoff]

Investors rejoice as ECB chief Mario Draghi talks of euro rescue plan

 

27 July 2012 08:45 AM

'Super' Mario Draghi hints at attack on Spain and Italy's high borrowing costs

 

 

 

Barclays faces fresh watchdog investigation

 

27 July 2012 01:40 PM

The onslaught against Barclays' reputation showed no signs of easing today as the scandal-hit lender revealed it was embroiled in a fresh investigation by City regulators.

 

 

 

Facebook shares hit record low as fifth of value is lost in one day

 

27 July 2012 08:30 AM

Company's first public set of financial results loses Zuckerberg friends on Wall Street

 

 

 

Another one-off? Computer glitches bring chaos to current accounts again

 

27 July 2012 12:00 AM

Hundreds of thousands charged double amid problems at Nationwide and RBS

 

 

Market jitters explain Manchester United's New York flotation delay

 

27 July 2012 12:00 AM

Manchester United appear to be planning an imminent launch of the marketing roadshow for their proposed $300m (£193m) New York flotation, despite the apparent postponement of the move designed to reduce the club's crippling debts.

 

 

 

RBS banking operations 'return to normal' after technical glitch

 

27 July 2012 03:00 PM

Nationwide and NatWest both said they have fixed separate IT hitches which caused more financial chaos for customers this week.

 

 

 

ITV boosted by rush to watch its programmes on mobile

 

27 July 2012 12:00 AM

Online viewers are rushing to watch their favourite ITV shows on mobile, with 95 per cent of the growth in usage this year coming from smartphones and tablets, the chief executive Adam Crozier said yesterday.

 

 

 

MPs call for evidence of fall in bank standards

 

27 July 2012 12:00 AM

The Parliamentary banking commission moved into high gear yesterday with an urgent call for evidence into the collapse in industry standards that has led to a string of devastating scandals and contributed to the worst recession since the Second World War.

 

 

 

Lloyds chief admits industry is in deep crisis

 

27 July 2012 12:00 AM

Lloyds banking Group set aside another £700m to deal with compensation claims for mis-selling insurance products yesterday, while the chief executive admitted the industry is in deep crisis.

 

 

 

More trouble for leaderless AstraZeneca as sales dive

 

27 July 2012 12:00 AM

Pre-tax profit was down by 36 per cent at £3.8bn in the first half of 2012

 

 

Promethean boss quits

 

27 July 2012 12:00 AM

The chief executive of the education technology company Promethean World, floated disastrously two years ago, abruptly quit yesterday after a fresh collapse in revenues.

 

 

 

Shell's shares plunge on a profits shock

 

27 July 2012 12:00 AM

Royal Dutch Shell surprised the City with a 13 per cent fall in profits to £5.7bn yesterday, sending its shares down 2 per cent to the bottom of the FTSE 100 index.

 

 

 

BAA fights on to avoid selling Stansted

 

27 July 2012 12:00 AM

The airports operator BAA is to ask the Supreme Court to overturn a Competition Commission ruling forcing it to sell Stansted airport.

 

 

 

RBS banking operations 'return to normal' after technical glitch

 

27 July 2012 03:00 PM

Nationwide and NatWest both said they have fixed separate IT hitches which caused more financial chaos for customers this week.

 

 

 

Barclays faces fresh watchdog investigation

 

27 July 2012 01:40 PM

The onslaught against Barclays' reputation showed no signs of easing today as the scandal-hit lender revealed it was embroiled in a fresh investigation by City regulators.

[interestrateripoff]

Barclays dragged into new probe after Libor blow

 

LONDON - Barclays Plc revealed a new regulatory probe and more U.S. lawsuits on Friday, making it harder for the British lender to rebuild its reputation damaged by the central role it played in the interest rate-rigging scandal shaking banks.

 

 

• Spain discusses state bailout; ECB seen writing off Greek debt 6:09pm BST
  
• FTSE rise on euro zone stimulus hopes 5:59pm BST
  
• Bernanke, Geithner response to Libor scandal rings hollow 7:22pm BST
  
• HSBC an "isolated" case in Mexico - banks' association 5:31pm BST
  
• Exclusive - Huff Po exec Lauren Kapp to exit after just 3 months
  

Analysis - Phantom fears surround China's Nexen deal

 

CALGARY/TORONTO, Alberta - At first blush, CNOOC Ltd's $15.1 billion (9.6 billion pounds) bid for Nexen Inc seemed like a sign that China is ready to go on a buying spree in Canada's oil patch.

7:42pm BST

 

CNN chief Walton to leave ratings-starved network

 

- CNN Worldwide President Jim Walton said on Friday he is leaving the once-dominant cable news network, which has struggled in the ratings race in recent years.

6:00pm BST

 

Siberian court awards $3 billion damages against BP

 

MOSCOW - A Siberian court has awarded more than $3 billion (1.9 billion pounds) in damages against British oil major BP in a suit brought by minority shareholders in its $60 billion Russian venture TNK-BP , the plaintiffs' lawyer said on Friday.

5:03pm BST

 

JPMorgan's Dimon reshuffles his management team

 

NEW YORK - JPMorgan Chase & Co Chief Executive Jamie Dimon reshuffled his management team, signalling that the biggest U.S. bank is preparing for life after its famed boss leaves.

[interestrateripoff]

27 July 2012 Last updated at 18:37

 

 

Barclays faces new investigation

 

Barclays faces a new investigation by the financial watchdog, the bank reveals, as it announces a 13% rise in half-year profits to £4.2bn.

 

• Peston: Another FSA probe
  
• EU to act on Libor rate rigging
  

 

US economic growth slows to 1.5%

 

Growth in the US economy slowed in the April to June quarter to an annualised pace of 1.5%, reflecting a slowdown in consumer spending.

 

 

Bank account sales face scrutiny

 

New rules will ensure customers are assessed to ensure they are eligible to claim insurance offered as part of a paid-for bank account.

 

• M&S to charge for bank account
  
• Shopping around for a bank account
  

 

 

 

• Spanish economy 'needs reform'
   
  Spain is in an "unprecedented" double-dip recession and the outlook for the country remains "very difficult", says the International Monetary Fund.
  
• Facebook shares drop to new low
   
  Shares in Facebook fall more than 16% to $22.37, as investors react to the social network's first set of results since its flotation.
  
• JJB Sports boss Jones steps down
   
  The chief executive of JJB Sports, Keith Jones, steps down just weeks after a new chairman was parachuted in to try to revive the retailer.
  
• BP ordered to pay $3.1bn damages
  
• Tech titan backs gay marriage law
  
• Accounts now 'fixed after errors'
  
• Airbus A350 XWB is delayed again
  
• Sales of top-end homes slow down
  
• Nadir 'hid theft' behind success
  
• Six jailed for insider dealing
  
• Smartphones lift Samsung earnings
  
• Greek PM in tough bailout talks
  
• Slump in Europe hits Renault
  
• Another FSA probe at Barclays
   
  10 hours ago
  Barclays is being investigated by the Financial Services Authority over whether it disclosed in a comprehensive and timely fashion all the fees it paid to advisors when raising more than £5bn of emergency capital from middle eastern investors at the end of 2008.
  

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http://deadlinelive.info/2012/07/26/breaking-colorado-massacre-linked-to-historic-bank-fraud-yes-and-this-also-follows-the-batman-rising-phoenix-plot-perfectly/

 

Just when you think this story can’t get any crazier… We may have a primary MOTIVE for the “inside job” theory. Disrupt and silence James Holmes father. The rest just seems to be ancillary and falls perfectly in place via “cost benefit analysis” (benefit on multiple levels)

Robert Holmes is currently the senior lead scientist with the American credit score company FICO….and will testify soon, to Senate, on LIBOR scandal. Robert Holmes algorithms were said used to discover this massive fraud scheme.

 

Via Ground Zero Media

 

According to his LinkedIn profile, James Holmes’s father, Dr. Robert Holmes, who received a PhD in Statistics in 1981 from the University of California at Berkeley, worked for San Diego-based HNC Software, Inc. from 2000 to 2002. HNC, known as a “neural network” company, and DARPA, beginning in 1998, have worked on developing “cortronic neural networks,” which would allow machines to interpret aural and visual stimuli to think like humans.

 

The cortronic concept was developed by HNC Software’s chief scientist and co-founder, Robert Hecht-Nielsen. HNC merged with the Minneapolis-based Fair Isaac Corporation (FICO), a computer analysis and decision-making company. Robert Holmes continues to work at FICO.

 

Robert Holmes brief bio at linked in states the following: “My educational background is in Mathematics and Statistics. My experience over the last 10 years at HNC and FICO has been in developing predictive models for financial services; credit & fraud risk models, first and third party application fraud models and internet/online banking fraud models.”

 

No idea on the accuracy of this!

[interestrateripoff]

How eBay Defied Convention and Turned Itself Around

 

By JAMES B. STEWART 2:04 PM ET

 

The Internet company’s surprise earnings report was the result of technological innovation, a management overhaul and an embrace of new opportunities.

David Paul Morris/Bloomberg News

 

John Donahoe has led a revival of eBay. “Our multiyear effort is paying off,” he said.

 

 

 

 

U.S. Economy Slowed to a Tepid 1.5% Rate of Growth

 

By SHAILA DEWAN 38 minutes ago

 

Growth in the second quarter was held back as consumers curbed purchases and factories received fewer orders in the face of a global slowdown and a stronger dollar.

 

• New Figures Put Recession and Recovery in Focus
  
• Stocks Shoot Ahead on Euro Optimism 1:42 PM ET
  

 

Euro Watch

 

Spain and Germany Provide Reality Check on Euphoria

 

By RAPHAEL MINDER and JACK EWING 9:23 AM ET

 

Countering hopes raised by the European Central Bank, Madrid reports even higher unemployment, while Berlin says it still opposes E.C.B. bond buying.

 

Bits Blog

 

Facebook Stock Continues to Fall After Earnings Report

 

By NICK BILTON 12:25 PM ET

 

By late-morning Friday, a day after Facebook's first quarterly financial announcement, the company stock was down to $23, giving the company a market valuation of $49 billion.

 

• Facebook Delivers an Earnings Letdown
  

 

DealBook

 

Barclays' Profit Falls As New Regulatory Problems Emerge

 

By MARK SCOTT 12:58 PM ET

 

The problems continue to mount at Barclays, as the British bank disclosed that it was facing a number of lawsuits related to the rate-rigging scandal and that regulators were investigating the company's financial director on a different matter.

 

• DealBook: Ex-Barclays Official in Line for $13.6 Million Payout
  

 

DealBook

 

JPMorgan Shakes Up Management

 

By JESSICA SILVER-GREENBERG 12:49 PM ET

 

Matthew Zames and Frank Bisignano were promoted to co-chief operating officers of the bank, while Jes Staley moved from being chief executive of the corporate and investment bank to chairman.

 

Media Decoder Blog

 

Jim Walton to Step Down as Chief of CNN

 

By BRIAN STELTER and BILL CARTER 48 minutes ago

 

Time Warner said Friday that Jim Walton, the president of CNN Worldwide, will hand the news giant over to a new chief at the end of the year.

 

Media Decoder Blog

 

Universal Offers a Sweeping Sell-Off to Win Approval of EMI Purchase

 

By BEN SISARIO 2:06 PM ET

 

In its concessions package to the European regulators, Universal said it would sell Parlophone Records - the European home of Coldplay, Kylie Minogue and others stars - as well as a number of other labels.

 

Media Decoder Blog

 

Jim Walton to Step Down as Chief of CNN

 

By BRIAN STELTER and BILL CARTER 48 minutes ago

 

Time Warner said Friday that Jim Walton, the president of CNN Worldwide, will hand the news giant over to a new chief at the end of the year.

 

Bollywood Star Remakes Himself Into TV Conscience

 

By VIKAS BAJAJ

 

Mixing Oprah-style interviews on a couch with short reports from the field, Aamir Khan’s show shines a spotlight on social issues like dowries, domestic violence and the caste system.

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[/url]

 

Debt crisis: Merkel and Hollande will do 'everything' to protect euro

 

Angela Merkel and François Hollande pledged on Friday "to do everything to protect" the European Union's single currency, papering over deep divisions between them over how to tackle the Spanish and Italian debt crisis.

92 Comments

Debt crisis: as it happened, July 27

 

 

IMF gives Spain thumbs up but warns on EU, markets

 

 

 

 

US growth slows as consumer spending cools

 

America grew at its slowest pace in a year in the second quarter, as the world's largest economy saw a sharp slowdown in consumer spending.

5 Comments

America's fiscal cliff suddenly got steeper

 

 

US growth slows: what the economists said

 

 

 

Barclays dragged into new regulatory probe

 

Barclays, which is fighting to restore its battered reputation, said its finance director Chris Lucas and three other current and former senior staff are being investigated over fees related to the bank's 2008 fundraisings.

 

BP ordered to pay TNK-BP $3bn damages

 

BP’s involvement in Russia and its troubled joint venture TNK-BP hit a new low after a Siberian court ordered the oil major to pay $3bn (£2bn) in damages to the business.

37 Comments

 

Facebook shares tumble 15pc on growth fears

 

Facebook shares tumbled 15pc to a record low on Friday after its maiden results failed to ally concerns about its slowing revenue growth.

7 Comments

 

William Hill renews levy battle with Betfair

 

William Hill is planning a fresh legal assault to force customers of Betfair, the gambling exchange, to pay a levy towards UK horse racing.

1 Comment

 

'Bad bank': customers 'struggling with mortgage payments'

 

 

 

 

Formula One turnover fuelled by television fees

 

 

 

 

JJB chief steps down with immediate effect

 

Angela Merkel and Francois Hollande pledge to back euro

 

 

 

America's fiscal cliff suddenly got steeper

 

 

 

 

US growth slows: what the economists said

 

We'll only know the economy is recovering when bond yields start rising again

 

The new Barclays: smaller, humbler and leaner

[interestrateripoff]

Starbucks: Burnt Coffee Sucks

More implosions last night....

At U.S. cafes, sales growth began to slow in June from earlier this year, Chief Financial Officer Troy Alstead said yesterday in an interview.

“The overhang of challenged consumer sentiment and housing and unemployment, I think the consumer is feeling it,” he said.

The problem was that the company reaffirmed guidance and then missed.

Look, I said back in June (when I was out traveling) that I saw a marked deterioration among places that I am almost always during the summer months. Call it the Tickerguy Vacation Indicator if you wish; we are creatures of habit like most people and simply put in June I saw a very-visible slowdown in consumer behavior in places that I frequent. This has continued into July, including here locally.

 

More at the link.

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GDP: Deteriorating

This isn't good....

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 1.5 percent in the second quarter of 2012, (that is, from the first quarter to the second quarter), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.0 percent.

It's "not as bad" as some people were expected, so the market was rather "ho-hum" after it came out. But the fact is that inside the release are some truly disturbing numbers, and this is being reflected in some of the earnings reports -- which are showing an utter collapse in June among retail behavior.

 

More at the link.

[interestrateripoff]

"It’s Been A Fun Ride, But Prepare For A Global Slowdown"

 

Guest Post: 2nd Quarter GDP - Weaker In All The Wrong Places

 

Mutiny At The ECB?

 

The EU Jerk-And-Smirk

 

Europe Releases Another Unsourced Rumor To Talk Markets To Weekly Highs

 

Mapping The Mounting Muni Meltdown

 

Guest Post: Bernanke And Draghi Are Dangerous

 

Italian Regulator Extends "One Week Only" Shorting Ban Through September 14 Due To "Persistent Conditions"

 

Ray Dalio Issues Stark Warning: Spanish Collateral Is Running Out

 

46.5 Million Americans, Record 22.3 Million US Households, On Foodstamps; 8,753,935 On Disability

[interestrateripoff]

Forget The Election Cycle, Its Policy Uncertainty That Counts

 

In Q2 America Added $2.33 In Debt For Every $1.00 In GDP

 

More European Any- And Every-Thing Promises Jerk Market Higher

 

Q2 GDP Beats Expectations As Historical GDP Data Revised

 

Spain Discussed €300 Billion Full Bailout, Germany "Uncomfortable"

 

Draghi In A Box

 

As Europe Desperately Attempts To Talk Down Bond Yields Further, Bundesbank Finally Says "Nein"

 

On Europe's Broken Transmission Channels

 

Guest Post: The Energy Showdown In Argentina

 

Guest Post: Central Banks Are Chomping At The Bit

 

In Case Of Collapsing Earnings, Expand Multiples And Pray

 

Is Harry Reid The Most Hypocritical Man In The World?

 

Greek Deposit Plunge Continues As Tax Inspection Finds Every Business On Zakynthos Broke The Law

 

Barofsky On Geithner: "We Should See People In Handcuffs"

 

The US Is Not Japan Or Your Average Stagnation: It Is Much Worse

[interestrateripoff]

Guest Post: 4 Reasons Why You Should Stop Believing In Chinese Leadership

 

Citi On Draghi: Expect Nothing From The ECB Before The ESM Is Active (In September At The Earliest)

 

Asian Contagion Strikes Again Thanks To US Drought

 

Europe 'Soars' To 4-Day High On Draghi 'Solution'

 

On The Path To Global Goldmanation: Former Goldmanite Mark Carney To Head The BOE After All?

 

Forget Double Dip, The UK Is Now In A Depression

[interestrateripoff]

Breaking news

 

• Apple pondered strategic investment in Twitter: NYT - Reuters
  

 

 

 

• Merkel and Hollande pledge to safeguard embattled euro
   
  German chancellor and French president act to ease fears that Spain's economic woes could threaten European single currency
   
  
  • Eurozone crisis live: Draghi's 'new plan' cheers markets
    
  • Spanish recession to last until 2014, IMF warns
    
  • Spanish unemployment reaches record high
    
  • Markets rally on ECB chief's pledge to preserve euro
    
  • Euro is irreversible, declares Mario Draghi
    
  • Germany feels effect of crisis as firms struggle
    
  • Rescue gamble may not bluff the markets for long
    
  • ECB eases Eurozone fears
    
  • Spanish bond yields back from the brink
    

  [*] Barclays FD investigated by FSA

   

  In wake of Libor scandal Chris Lucas under FSA spotlight over £7.3bn funds raised from Middle East investors in 2008

   

  • Lloyds admits Libor risk and takes another hit on PPI
    
  • £9m leaving deal for Barclays' Jerry del Missier
    
  • Barclays pay chair Carnwath quits
    
  • MPs tell Barclays to stop fundraising for Romney
    
  • Nils Pratley: Lord Turner needs safer soundbites
    
  • Geithner blames UK over Libor
    

  [*] US growth slows as consumers cut back on spending

   

  GDP grew at 1.5% between April and June, government figures show, compared to 2% in the previous three months

   

  • GDP data shows US economy is losing altitude – along with Obama's chances
    

  [*] Emirates boss questions PM's plan

   

  But prime minister and chancellor insist they will stick to their austerity package despite disappointing GDP figures

   

  • Cameron and co drum up business for UK plc
    
  • George Osborne: no U-turn on deficit reduction plan
    
  • PM: UK must do more after 'disappointing' figures
    

 

 

• Chinese brands come to high street
   
  'Made in China' is usually what it says on clothing labels but ambitious Chinese retailers are now looking to make their own brands household names in the UK
  47 comments
  
• Facebook shares hit new low
   
  First set of results as public company show revenues in line with forecasts but mobile concerns remain
  5 comments
  
  • Facebook shares fall after modest results
    
  • Amazon.com results fall short of forecast
    
  • Samsung Galaxy boosts profits
    

  [*] Six sentenced for insider trading

   

  Ersin Mustafa, the JP Morgan Casenove print manager allegedly at the heart of the conspiracy, said by brother to have escaped to Cyprus

  [*] Penguin profits slump, but ebook revenues rise 33%

   

  Penguin parent Pearson blames success of Fifty Shades of Grey for 48% fall in operating profit

  [*] BP to pay $3bn fine over Rosneft deal

   

  BP ordered to pay to its joint venture TNK-BP after Siberian shareholder claimed link with Rosneft damaged company's value

   

  • Shell earnings fall 13% in Q2
    

  [*] More business news

  [*] Don't buy milk from Morrisons, Aldi, Lidl or Londis, say dairy farmers

  67 comments

  [*] June house prices show small rise

[interestrateripoff]

Insight - At least three banks seen central to Libor rigging

 

- New details from court documents and sources close to the Libor scandal investigation suggest that groups of traders working at three major European banks were heavily involved in rigging global benchmark interest rates.

 

• Osborne: no let-up after AAA rating affirmed 5:08pm BST
  
• Apple pondered strategic investment in Twitter: NYT 5:14am BST
  
• Global stocks fly on central bank hopes, euro cuts gains 27 Jul 2012
  
• Spain discusses state bailout; ECB seen writing off Greek debt 5:05pm BST
  
• JPMorgan creates more management checks and balances
  

Chevron profit slips, but refineries shine

 

- Chevron Corp profit fell 7 percent in the second quarter as oil prices fell, and the No. 2 U.S. oil company said output would fall short this year, while strong margins at its refineries will cushion the blow to earnings.

27 Jul 2012

 

Barclays dragged into new probe after Libor blow

 

LONDON - Barclays Plc revealed a new regulatory probe and more U.S. lawsuits on Friday, making it harder for the British lender to rebuild its reputation damaged by the central role it played in the interest rate-rigging scandal shaking banks. | Video

27 Jul 2012

 

Apple buys mobile security firm AuthenTec for $356 million

 

- Apple Inc will buy fingerprint sensor technology developer AuthenTec Inc for about $356 million (226 million pounds), striking a deal that could put its iPhone at the centre of the emerging mobile payments market.

27 Jul 2012

 

ECB spokeswoman - usual for Draghi to meet ECB officials

 

- A spokeswoman for the European Central Bank said on Friday it was usual practice for ECB President Mario Draghi to meet with governing council members.