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    • Hello I hope someone can give me some advice here, as I am at a bit of a loss on how to proceed. This relates to alleged offences under the RTA. Yesterday I received a notification from the local police of intention to prosecute for the following offences: 1 driving without due care and attention 2 failing to stop at a road traffic accident 3 failing to report a road traffic accident At this stage they have only asked me to say whether I was the driver at the time or not and provided a blank sheet of paper to give information about the incident. Going by the location (just round the corner from where I live) I can only imagine this relating to one recent incident, which wasn't actually an accident but more of a road rage event. I was driving past someone unloading or working next to his lorry which had stopped in the road. I wasn't going fast or anything, while I went by lorry man turned around and punched and kicked my car whilst going past him. I stopped and got out and wanted to know what he thought he was doing punching and kicking my car. He then hurled some verbal abuse at me, swearing and he was quite aggressive. I still didn't know what his problem was and said I would report him to his company for threatening behaviour and vandalism for punching my car. I got my phone and tried to take a photo of his lorry and number plate but at that moment he came right at me, still shouting and swearing, so I was worried he may hit me next, as he already punched my car. I thought if the guy hits me I will come off second best, so I decided to retreat. I quickly got back into my car and left. When I checked my phone later the photo I tried to take was blurred and useless, so I thought it was pointless to report the incident to the police, as the guy would not be traceable. Over that I forgot about it until I got the letter yesterday in the post. This is the only thing I believe this can relate to, but I have no idea based on what the three above allegations come from There was no road traffic accident, more of a road rage incident. So I am at a loss what to do. I have 28 days to respond. Should I just say yes I was the driver and was there and see what happens next, or should I already make a written statement on the attached piece of paper they sent me and send that with it ? Is there anyone here who would have a rough idea what to do next ? I tried my legal advice line through my Union, but they have sent me from pillar to post, now say it needs to go to a different department again and that would be chargeable as the RTA comes under Criminal Law. So any advice would be appreciated Many Thanks
    • So a quick update got bounced around two different departments and managed to speak to a DVLA bod , explained the situation and they could see the overlap and that DD payments had been made from Feb , also no formal remiders prior , they gave me a number for the legal dept who I am calling this morning to see what they can do in terms of the SJP notice , still have time to submit this online.  Will update after my chat this morning 
    • filed the defence at same time as suggested @dx100uk
    • Also, I am trying to understand how invoicing a large sum in a 6m period becomes tax fraud?   Is it because if he had invoiced over the £85k threshold he should have been obligated to charge vat?  Which would have meant hmrc would have benefited from the vat amount? So by not charging it Hmrc have lost out on £s revenue?  Is that what makes it tax fraud? So as a self-employed contractor, let's say he invoiced one Co for 200k.  Should he have charged vat on the full 200k (£40k)? Or just on the sum above the threshold (£23k)?  And that by not charging vat, he has knowingly withheld tax £s from Hmrc? And is the payer complicit ?
  • Our picks

    • 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 7


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Shares at Yahoo enjoy revival as new boss spells out plans

 

23 October 2012 12:00 AM

Yahoo's new boss, Marissa Mayer, pulled off a sparkling first impression yesterday, cheering Wall Street with better-than-expected third-quarter results as she outlined her plans to revive the struggling internet giant.

 

 

 

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23 October 2012 12:00 AM

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Japanese exports plunging after boycotts from row with China

 

23 October 2012 12:00 AM

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Philips' earnings double as it switches off TV arm

 

23 October 2012 12:00 AM

Royal Philips Electronics, the Dutch maker of electric shavers, light bulbs and medical imaging equipment, saw earnings more than double in the third quarter.

 

 

 

Rolls-Royce wins US hovercraft deal

 

23 October 2012 12:00 AM

Rolls-Royce has won a contract to power the US Navy's future fleet of hovercrafts. Rolls has been selected to build the initial development craft, but said the programme could extend to 73 hovercraft. The vessels will replace the US Navy's fleet of landing craft over the next 20 years. They will be used to deploy personnel and vehicles between ships and the shore.

 

 

 

BoE seeks boss to help Governor

 

23 October 2012 12:00 AM

The Bank of England is seeking to take the strain off its new Governor with the appointment of a new chief operating officer when it takes on responsibility for the new Prudential Regulatory Authority next year. Candidates for the new role, encompassing responsibility for finance, IT and human resources, are being sought by headhunter Odgers Berndtson, allowing the Bank's senior staff to spend more time on policy. The chief operating officer's first job will be to find a replacement for the Bank's outgoing finance director, Warwick Jones. He said: "It has been a fascinating and rewarding experience working at the Bank, if a little more exciting than I anticipated when I joined in 2006."

 

 

 

Sausage skin maker Devro hit as costs leap

 

23 October 2012 12:00 AM

The sausage-skin maker Devro has warned that it will miss profit expectations this year because of higher material costs and currency movements.

 

 

 

SVG Capital is dented by Boss

 

23 October 2012 12:00 AM

A sharp fall in Hugo Boss's share price saw SVG Capital, the quoted proxy for giant private-equity group Permira, go into reverse in the third quarter.

 

 

 

Shell fired up for Fram gas boost

 

23 October 2012 12:00 AM

Shell said that its Fram field in the North Sea would be up and running within three years and will provide 5 per cent of Britain's gas at peak production, after winning government approval for the project.

 

 

 

Reubens eye options for Orient Express

 

23 October 2012 12:00 AM

The billionaire Reuben brothers have begun talks with United States investor Cohen & Steers over the future of the New York-listed luxury leisure group Orient Express. The investors, who are shareholders in the group that owns upmarket hotels and travel assets including the railway business from which it took its name, believe the $1.9bn (£1.2bn) bid tabled last week by Tata undervalues the group. It is thought the pair are now looking at options including teaming up for a counterbid.

If DEBT is the problem REPAYMENT is the solution

 

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

 

Remember, profits are privatised, losses are socialised.

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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 October 2012 Last updated at 18:56

 

 

New finance tax for 10 EU states_63666720_63660363.jpg

 

The European Commission backs plans from 10 countries to launch a financial transactions tax to help raise funds to tackle the debt crisis.

 

 

_63664773_an3r83w8.jpgIncomes 'down 13% in four years'

 

Incomes have suffered much more heavily since the current economic crisis began than in the aftermath of the UK's two previous recessions, figures show.

 

 

 

_63668402_traders.jpgShares fall in Europe and the US

 

Share indexes fall on both sides of the Atlantic after weak results from two large US companies, and more bad news for the Spanish 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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U.S. Stocks Fall Sharply

 

By NATHANIEL POPPER 12:19 PM ET

 

 

Weak earnings from several large companies and a credit rating downgrade of several regions in Spain raised concerns about a slowing global economy.

 

 

 

 

 

 

 

 

api.asp?sym=$SP&duration=1&chartstyle=SectionFront&w=395&h=230&display=fillclose&topLabel=

 

 

 

 

 

 

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Apple, Facing Competition, Introduces a Smaller iPad

 

By BRIAN X. CHEN 44 minutes ago

 

The company says the portability will give the device a new audience. But starting at $330, it is pricier than other small tablets.

 

 

DealBook

 

Google's Earnings Incident Shines Light on a Stealth Industry

 

By MICHELLE LEDER

 

Since earnings information is crucial these days, the accidental release of Google's earnings report last week by an outside filing firm raises questions about whether more companies should move the filings process in-house.

 

Nokia's Low-Priced Phone Targets Emerging Markets

 

By KEVIN J. O’BRIEN 10:53 AM ET

 

Nokia said its smartphone, the Lumia 510, would cost about $199 and be sold initially in places like India, China and Latin America.

 

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Hedge Fund Manager Donates $100 Million for Central Park

 

By LISA W. FODERARO 15 minutes ago

 

The donation by John A. Paulson is believed to be the largest ever to a public park, and will be used to add to the Central Park Conservancy’s endowment and to pay for capital improvements.

 

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France to Back Peugeot With 7 Billion Euros in Credit Guarantees

 

By DAVID JOLLY 12:44 PM ET

 

In exchange, the government of President Francois Hollande will demand fewer job cuts, changes in governance and a seat on the troubled carmaker's board.

 

Coalition in Athens Split on Labor Law Changes

 

By NIKI KITSANTONIS 46 minutes ago

 

The two junior partners in Greece's shaky coalition government voiced their opposition to demands from the troika of international lenders.

 

E.U. Postpones Vote on Gender Quota Plan

 

By JAMES KANTER 52 minutes ago

 

A proposal to require company boards to be made up of at least 40 percent women was set aside by the European Commission because of concerns about its legality and tough opposition from across Europe.

 

A Tightrope on China’s Currency

 

By ANNIE LOWREY

 

Experts in economics and foreign policy caution that formally designating China as a currency manipulator, as Mitt Romney pledged again in the debate on Monday, may do more harm than good.

 

 

 

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

Richmond Fed - Oops

Now this is just plain bad.

Manufacturing activity in the central Atlantic region pulled back in October after improving somewhat last month, according to the Richmond Fed’s latest survey. The seasonally adjusted index of overall activity was pushed lower as all broad indicators of activity—shipments, new orders and employment—were in negative territory. Other indicators also suggested additional softness. Capacity utilization turned negative, while backlogs remained negative but improved from its September reading. Moreover, the gauge for delivery times changed little, while raw materials inventories grew at a slightly quicker pace, and growth in finished goods edged lower.

Yuck.

The table is just plain ugly. I'm sure someone will try to put lipstick on this pig, but it's definitely a pig; Shipments, new orders, capacity utilization, and vendor leadtime all went the wrong way and employees did not improve (and are still being cut.) Worse, prices paid and received both increased and widened, which is the worst possible move you can get.

 

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

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

Come clean! Dyson accuses Bosch over R&D 'mole'

 

24 October 2012 04:22 PM

Dyson today accused German rival Bosch of having a mole within a high-security research and development department.

 

 

GreenShootsEPA.jpg

Don't mention green shoots! Figures will show recession is over but ministers told not to get ahead of themselves

 

24 October 2012 05:49 PM

Ministers have been ordered not to refer to "green shoots" tomorrow when they respond to official figures showing that Britain has emerged from its double-dip recession.

 

 

 

Fashion industry struck by China lowdown

 

24 October 2012 12:00 AM

Mulberry warning raises fears Asian demand for luxury goods has peaked

 

 

 

Cocktails.jpg

Thirst for 'affordable luxuries' helps drinks giant Diageo hit £1bn sales

 

24 October 2012 06:07 PM

A thirst for "affordable" luxuries, in the shape of expensive cocktails in the trendiest bars, has helped global drinks giant Diageo record more than £1 billion in sales of its high end liquor in the past year.

 

 

 

GoFurther-New-Transit-01.jpg

Ford meeting raises fears over Southampton Transit factory future

 

24 October 2012 03:55 PM

Union leaders have been called to a meeting with motor giant Ford amid fears over the future of the firm's van factory in the UK.

 

 

 

Factory output hits three-year low

 

24 October 2012 12:35 PM

Manufacturers saw output reach its lowest level in three years this month as companies became increasingly concerned by political and economic problems abroad, a survey said.

 

 

 

SupermarketAFP.jpg

Asda cuts 2p off petrol pice

 

24 October 2012 10:23 AM

Supermarket Asda is cutting up to 2p a litre off the price of its petrol.

 

 

 

argos.jpg

Argos closes 75 stores as new boss announces digital makeover

 

24 October 2012 12:15 PM

The Argos catalogue is to get a digital makeover in an attempt by the struggling high street chain to reverse two years of falling sales.

 

 

 

Mervyn King signals Bank of England is preparing for new round of QE

 

24 October 2012 08:30 AM

Sir Mervyn King has given the clearest signal yet that the Bank of England is poised to launch another round of quantitative easing to boost the ailing UK economy.

 

 

 

Boss departs from defence firm Chemring

 

24 October 2012 12:00 AM

The chief executive of Chemring, in the takeover sights of US private equity house Carlyle, yesterday experienced the defence firm's own ejector seats, leaving "with immediate effect".

 

 

 

BAE stands by chairman after call to resign

 

24 October 2012 12:00 AM

BAE Systems was forced to defend chairman Dick Olver's position yesterday as the pressure mounted on him to resign following the collapse of the defence group's proposed £30bn merger with EADS.

 

 

 

Premier poised to sell off Hovis

 

24 October 2012 12:00 AM

One of Britain's biggest bread brands, Hovis, looks increasingly likely to be sold after its owner, Premier Foods, said yesterday it was looking at a range of options to unlock value from an increasingly cutthroat business.

 

 

 

Experian in Brazil deal

 

24 October 2012 12:00 AM

The credit-checking giant Experian yesterday displayed its appetite for fast-growing Latin American markets, spending $1.5bn (£938m) to buy the 29.6 per cent of the Brazilian credit bureau Serasa that it does not already own.

 

 

 

Nationwide cuts its rates again

 

24 October 2012 12:00 AM

Nationwide is cutting rates across the majority of its fixed rate mortgages by up to 0.20 per cent and tracker rate mortgages by up to 0.10 per cent, effective from today. This is the second rate reduction announced by the building society in the past fortnight. Overall, some fixed rates have now fallen by up to 0.5 per cent and trackers by 0.3 per cent. But borrowers on the society's standard variable rate will not see a reduction in their monthly repayments.

 

 

 

Olympic athletes help Virgin strike gold at the Games

 

24 October 2012 12:00 AM

Virgin Media got a double boost from record TV viewing during the Olympics and the decision to recruit top athletes such as Mo Farah and Usain Bolt, pictured, in its advertising.

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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Thompson says has NYT's support after BBC scandal

 

World, 7:46pm BST

 

U.S. sues Bank of America over "Hustle" mortgage fraud

 

7:33pm BST

 

Euro zone strugglers face tougher 2013 than thought - Reuters poll

 

Spain 7:24pm BST

 

SocGen rogue trader Kerviel launches final appeal

 

7:21pm BST

 

Daimler warns on profits for 2013 "as market worsens"

 

7:19pm BST

 

FTSE edges higher as Reckitt rallies

 

FXpert 7:10pm BST

 

Dyson accuses Germany Bosch of paying "mole" for tech info

 

6:37pm BST

 

Ferrari boss quits as chairman of Italian train firm

 

6:33pm BST

 

Ford to scrap Belgian plant to stem Europe losses

 

Spain 6:28pm BST

 

European car makers suffer day of reckoning

 

6:21pm BST

 

Wiggins doubts Armstrong will admit to cheating

 

5:58pm BST

 

Citi board fight signals rise of the activist chairman

 

6:27pm BST

 

October PMIs suggest euro zone downturn deepening

 

5:40pm BST

 

BP reaches agreement with SOCAR on Azeri output fall

 

5:39pm BST

 

RBS paying $42 million to settle Nevada mortgage case

 

5:37pm BST

 

Draghi defends bond-buying plan in lion's den

 

5:25pm BST

 

Greece's lenders say deal held up by a "few" issues

 

5:25pm BST

 

Ex-trader Kerviel says to launch fresh appeal

 

5:10pm BST

 

Euro woes deepen, China, U.S. improve a bit

 

Aerospace & Defence 4:40pm BST

 

Visa hires JPMorgan's Charles Scharf as CEO

 

4:11pm BST

 

Credit Suisse profit to slide in capital boosting drive

 

3:53pm BST

 

Reckitt Benckiser sales buoyed by emerging markets

 

2:33pm BST

 

Draghi says ECB bond plan is in Germany's interest

 

2:27pm BST

 

Peugeot gets government rescue as crisis deepens

 

2:03pm BST

 

VW profit slumps on European gloom and tech costs

 

1:54pm BST

 

Boeing Q3 profit beats expectations; defence strong

 

1:41pm BST

 

Buffett says global economy slowing, wants more deals

 

1:38pm BST

 

Draghi defends ECB bond-buy plan before German MPs

 

1:36pm BST

 

Boeing Q3 profit beats expectations, defence business improves

 

1:14pm BST

 

Reckitt Benckiser on target for 2012 after strong Q3

 

1:13pm BST

 

Shock drop in UK factory orders fuels doubt on recovery

 

12:51pm BST

 

Exclusive - Germany eyes swift purchase of EADS shares: document

 

Aerospace & Defence 12:42pm BST

 

Singapore Airlines in $7.5 billion Airbus deal

 

Aerospace & Defence 12:36pm BST

 

Motorola Solutions beats estimates on strong govt spending

 

12:10pm BST

 

Rolls-Royce wins $2.6 billion Singapore Airlines engine deal

 

11:54am BST

 

Home Retail to reinvent Argos as profit slumps

 

11:52am BST

 

France hasn't yet asked EU to approve Peugeot state aid - Almunia

 

11:46am BST

 

AngloGold says to fire 12,000 South Africa strikers

 

11:26am BST

 

Barclays change continues as head of HR steps down

 

11:23am BST

 

Ford to close Belgian plant by end-2014

 

Spain 11:05am BST

 

Ford to close Belgian plant by end-2014

 

Spain 11:02am BST

 

Bank creditors must take loss before deposit holders - Greg Clark

 

10:44am BST

 

Competition expert says make moving bank accounts easier

 

10:44am BST

 

Volkswagen says nine-month operating profit falls 1.6 percent

 

10:38am BST

 

Punch Taverns in talks to restructure debt as profit drops

 

10:23am BST

 

German business shrinks as economy buckles to crisis

 

12:24pm BST

 

Instant View - German business sentiment worsens in October

 

9:48am BST

 

Ford to move production of new models from Belgium to Spain - union

 

9:27am BST

 

China making slow, steady economic recovery - survey | btn_rel_video.gif

 

9:10am BST

 

BoE's Dale says new bank funding scheme can make difference - BBC

 

UK, 9:07am BST

 

BAT hit by tough times in Brazil and Japan

 

Japan 9:04am BST

 

German private sector contracts for sixth month in October - PMI

 

8:58am BST

 

French private sector shrinks again in October, points to recession - PMI

 

8:48am BST

 

Exclusive - Blackstone targets stakes in hedge fund managers

 

8:46am BST

 

Punch Taverns warns on debt as profit drops

 

8:03am BST

 

InterContinental Hotels' U.S. growth slows

 

8:01am BST

 

Apple unwraps mini-iPad to take on Amazon, Google | btn_rel_video.gif

 

7:57am BST

 

Sports Direct cashes in on Olympic fever

 

Sports, Olympics 2012 7:46am BST

 

National Express buoyed by resilient UK rail and bus

 

UK, 7:44am BST

 

Rathbones inflows slow in third quarter

 

7:38am BST

 

Euro dips on German data, shares up as Fed eyed

 

FXpert, Aerospace & Defence 7:14pm BST

 

UBS set to begin 400 job cuts as early as Wednesday - WSJ

 

6:44am BST

 

Three senior members of Brightoil's fuel oil team resign - sources

 

6:30am BST

 

RBS agrees to $42.5 million settlement with Nevada attorney general - NYT

 

6:24am BST

 

Ex-Goldman director Gupta awaits sentence in insider case

 

5:17am BST

 

Analysis - Canada's tough stance on foreign buyers won't cut oil growth

 

5:03am BST

 

Dow cutting jobs, closing plants as growth slows

 

4:15am BST

 

Dow Chemical says third-quarter profit down 39 percent

 

3:19am BST

 

Facebook's mobile surprise allays growth fears

 

Facebook 3:13am BST

 

Facebook CEO says mobile opportunity misunderstood

 

Facebook 3:13am BST

 

Petronas to meet Canadian officials on Progress deal

 

2:30am BST

 

BHP considers sale of Arizona copper mine - FT

 

2:11am BST

 

Softbank, KDDI to offer Apple's iPad mini in Japan

 

Japan 1:07am BST

 

Apple unwraps mini-iPad to take on Amazon, Google |

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

Refining’s Fortunes Rise in the Energy Industry

 

By CLIFFORD KRAUSS 11:50 AM ET

 

 

Refining, once regarded as a low-margin, accident-prone part of the energy industry, is doing better in part because of cheaper natural gas and domestic crude oil.

 

 

 

 

20121024timescast-custom1.jpgtc-logo-live.png

playbutton_arrow.png

 

Jim Wilson/The New York Times

 

 

TimesCast: Apple Takes On Smaller Tablets

 

Apple reveals the iPad Mini. | David Pogue reviews the Microsoft Surface. | The Mr. GIF artist collective.

 

 

 

 

 

 

 

 

 

 

DealBook

 

Federal Prosecutors Sue Bank of America Over Mortgage Program

 

By BEN PROTESS 3 minutes ago

 

The bank is accused of selling bad mortgages to Fannie Mae and Freddie Mac, the government-controlled housing giants, which suffered heavy losses and many foreclosures.

 

 

Fed Affirms Low Rates and Sees ‘Moderate’ Growth

 

By BINYAMIN APPELBAUM 1 minute ago

 

The central bank’s assessment was little changed, and it said it remained ready to expand efforts if the job market does not pick up.

 

Bits Blog

 

bitpix-facebook-zuckerberg3-thumbStandard.jpg

Facebook Posts Largest Single-Day Gain After Third-Quarter Earnings Call

 

By SOMINI SENGUPTA 1:57 PM ET

 

Facebook's roller-coaster ride on Wall Street continued, as shares rallied after Facebook posted promising revenue growth.

 

 

AT&T Posts Flat Earnings as Subscriber Growth Slows

 

By BRIAN X. CHEN 10:27 AM ET

 

The company said a limited supply of the hot-selling Apple iPhone 5 was partly to blame for slower growth of contract subscriptions.

 

Boeing Posts Better-Than-Expected Profits

 

By CHRISTOPHER DREW 1:36 PM ET

 

The aircraft maker increased deliveries of both commercial and military airplanes, with the biggest revenue gains coming from the growing demand for new passenger planes.

 

U.S. Stocks Edge Higher

 

By REUTERS 1:42 PM ET

 

Data from China and Boeing provided temporary relief to a slumping market.

 

 

E.U. Antitrust Officials Say Microsoft Violated Deal

 

By JAMES KANTER

 

Regulators on Wednesday said Microsoft had failed to live up to an agreement to give Windows software users better access to rival Internet browsers.

 

jp-HACK-thumbStandard.jpg

In Cyberattack on Saudi Firm, U.S. Sees Iran Firing Back

 

By NICOLE PERLROTH

 

American officials believe a virus unleashed on an oil giant was a return volley in a conflict begun by the United States and Israel with software that targeted Iran’s centrifuges.

 

 

DRINK-thumbStandard.jpg

Safety Becomes a Concern With High-Caffeine Drinks

 

By BARRY MEIER

 

As consumption of energy drinks soars in the United States, critics say the Food and Drug Administration has allowed the drinks to languish in a regulatory gray area.

 

 

25kerviel-thumbStandard.jpg

Court in France Upholds Trader's Sentence and Fine

 

By NICOLA CLARK 26 minutes ago

 

The court upheld the prison sentence of five years for Jérôme Kerviel, and an order that he pay 4.9 billion euros, or $7 billion, in restitution to Société Générale — equivalent to the amount the bank lost in unwinding Mr. Kerviel’s fictitious trades.

 

Prosecutors to Review Cases in BBC Abuse Scandal From 2009

 

By ALAN COWELL 9:16 AM ET

 

Britain’s director of public prosecutions said that he would review a decision by prosecutors not to bring charges of sexual abuse leveled against the television host Jimmy Savile.

 

DealBook

 

Visa Names JPMorgan's Scharf as Its New Chief

 

By MICHAEL J. DE LA MERCED 10:51 AM ET

 

Visa has tapped Charles W. Scharf, a former head of JPMorgan Chase's vast retail arm, as its new chief executive, as Visa's current leader prepares for retirement next year.

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

24 October 2012 Last updated at 19:57

 

 

Ford plans to shut Belgian plant_63690402_yjltkgx8.jpg

 

US car giant Ford announces plans to close its factory at Genk in Belgium and fears grow over the future of its Transit van plant in Southampton.

 

 

Argos to close or move 75 stores

 

Home Retail Group, which owns Argos, announces a digital revamp for the catalogue retailer that will see 75 stores closed or relocated over five years.

 

 

 

_63694967_153852115.jpgNike agrees Umbro sale for $225m

 

Sportswear giant Nike agrees a deal to sell UK sports brand Umbro to US clothing company Iconix Brand Group for $225m.

 

 

 

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]

 

Foreign companies face crackdown on tax loopholes in UK and Europe

 

amazon-alamy_2060041g.jpg

Foreign companies face a tax crackdown as David Cameron demanded an investigation into claims of large-scale avoidance while Brussels moved to close European loop-holes enjoyed by Amazon, Skype and Netflix.

18 Comments

 

 

Cameron faces official probe over GDP hint

 

dave_2376390g.jpg

David Cameron is facing an official investigation after appearing to drop a hint about market-sensitive growth figures not published until tomorrow.

Factory data takes gloss off return to growth

 

 

GDP figures to show double-dip recession over

 

 

Sir Tom Hunter blasts Government's economic policy

 

 

Hard road ahead as economy heals, says Osborne

 

 

 

Dyson sues after discovering German 'spy'

 

JamesDysonpa_2325967g.jpg

Dyson has discovered a spy for its German rival Bosch working in its high-security inventing department in Malmesbury.

US sues Bank of America over 'toxic' loans

 

boa_2198009g.jpg

The US government has launched a $1bn (£624m) lawsuit against Bank of America, alleging that it fraudulently issued “Hustle” mortgages that led to losses for American taxpayers.

Greece plans to cut wages and pensions

 

Athens-greece-riot_2372773g.jpg

Greece is set to cut public sector wages and pensions, as it agrees terms with its international lenders to release the next tranche of its bailout to avoid defaulting.

68 Comments

Germany not immune to eurozone slowdown

 

 

Debt crisis: as it happened - October 24, 2012

 

 

 

BP and Shell accused of diesel price fixing

 

BP_2238476g.jpg

BP and Royal Dutch Shell have been accused of colluding with four other oil companies to fix diesel prices for more than 15 years.

1 Comment

 

Facebook shares soar 22pc on mobile hopes

 

facebook-front_1796837g.jpg

Facebook shares look set for their best ever day after signs the social networking site can make money from its mobile users sparked a buying frenzy.

18 Comments

Facebook mobile gains drive revenue growth

 

 

 

Tough new mortgage rules hit first-time buyers

 

 

 

 

King: no recovery until banks recapitalise

 

 

 

 

Women win equal pay fight in 'landmark' ruling

 

This is an assault on living standards set to run and run

 

mervyn-king_2378449g.jpg

Close to the start of the economic crisis, someone I've always considered one of the City's more astute practitioners privately ventured what seemed a somewhat startling prediction – by the time it was all over, average living standards in Britain and many of other advanced economies would have fallen in real terms by 20pc or more.

3 Comments

Factory data takes gloss off return to growth

 

 

 

 

Germany not immune to eurozone slowdown

 

 

 

 

Pensioners' investment income at 1977 levels

 

Britain has left the European Union in all but name

 

Hard-to-tax companies should make other contributions to society

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

FOMC: STOMP THE GAS!

Release Date: October 24, 2012

For immediate release

 

Information received since the Federal Open Market Committee met in September suggests that economic activity has continued to expand at a moderate pace in recent months. Growth in employment has been slow, and the unemployment rate remains elevated. Household spending has advanced a bit more quickly, but growth in business fixed investment has slowed. The housing sector has shown some further signs of improvement, albeit from a depressed level. Inflation recently picked up somewhat, reflecting higher energy prices. Longer-term inflation expectations have remained stable.

In other words, nothing has happened other than commodity prices going up inflation-wise. Never mind that the regional surveys and financial results in the market show soft markets and thus inability to pass through price increases.

 

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

The 46 Million Foodstamp Man March - An Infographic

 

Fed, As Expected, Says Nothing New - Full Redline Comparison With September Statement

 

Guest Post: Ben Bernanke's Secret Philanthropy

 

Yet Another Lawsuit Against Bank Of America Over Countrywide's Legacy Toxic Mortgages

 

FOMC Preview: Nothing Now, Moar Later

 

Putting It Into Perspective: One Week Of QE 3 In Minimum Wage Job Terms

 

Greece Is Not Spain - But Is It Eastman Kodak?

 

John Taylor: Is Our Version Of The 1987 "Can't Lose" Paradigm Melting Down?

 

Guest Post: Generational Wealth And Upward Mobility

 

New Home Sales Highest Since April 2010... Until One Reads The Fine Print

 

What Do CEOs Know That The Consumer Doesn't?

 

Full Mario Draghi Pro-Inflation Speech To Germany

 

It Is Time To Pare Back

 

Visualizing The Extremes Of Risk And Reward

 

Andalusia Seeks Greater Bailout From Spain, Says Amount For Regional Bailout Fund Was "Underestimated"

 

Hyper Mario Draghi Speaks

 

Buy Athenian Bottle, Rag, And Petrol Futures

 

Germany Officially Rejects Latest Greek Lie

 

Total Confusion: Greece Says Troika Agreement Reached, Germany Says "Nein"

 

Goldman Goes To German: Draghi To Enter The Lion’s Den

 

Guest Post: Debt & Obesity

 

David Rosenberg: "What Is Wrong With This Market?

 

A Mushroom Cloudy Future: In 2016 Japan, Net Debt Per Capita Will Be $140,000

 

Guest Post: A Non-Corporate Model for the Localized Economy: Guilds

 

Eyes Wide Shut - "We Are In A Bad Spot"

 

Corzine Tells Judge That Due To Purchase Of 50,000 MF Global Shares Before Bankruptcy, He Must Acquit

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.

Link to post
Share on other sites

HSBC swings to victory at Hong Kong's hedge fund fight night

 

Oddly Enough 8:11pm BST

 

Louisiana requests trial to decide $1 billion spill claim against BP

 

7:42pm BST

 

BP drops plans for U.S. cellulosic ethanol plant

 

7:42pm BST

 

S&P cuts French banks' credit ratings

 

7:38pm BST

 

Procter & Gamble earnings give CEO McDonald some relief

 

7:16pm BST

 

PPR's Gucci says trading tougher in China

 

7:14pm BST

 

Stocks flat as earnings counter UK growth

 

FXpert, 7:06pm BST

 

Analysis - Catch-up time as BP eyes closure on Russia, spill

 

7:01pm BST

 

Anglo braced for full impact of South African strikes

 

6:30pm BST

 

Strike ends at Glencore coal mine in Colombia

 

6:03pm BST

 

UK parliamentarians slam Starbucks tax deal

 

5:59pm BST

 

Pearson eyes publishing arm merger with Bertelsmann

 

5:45pm BST

 

Ford deepens European cuts, sees $3 billion losses

 

5:27pm BST

 

Russia's Putin: Mixed feelings over Rosneft-BP alliance

 

5:01pm BST

 

Renault cuts delivery goal as sales slump

 

4:59pm BST

 

UK oil deals, drilling rise bode well for output

 

4:44pm BST

 

Santander UK haunted anew by old shipping loans

 

4:43pm BST

 

CME expects aluminium premium swaps trades by end-year

 

4:42pm BST

 

Patent losses hit AstraZeneca harder than rivals

 

4:21pm BST

 

FSA says tougher jail term would aid market abuse crackdown

 

UK, 4:09pm BST

 

Euro zone seeks to give Greece more time to cut, find more money

 

7:28pm BST

 

Spanish bonds regaining favour among some investing elite

 

Spain 4:02pm BST

 

Olympics helps Britain leap out of recession | btn_rel_video.gif

 

UK, Sports, Olympics 2012, David Cameron 3:59pm BST

 

Ford sees total $3 billion European loss in 2012, 2013

 

3:28pm BST

 

EU parliament vetoes Mersch, wants woman for ECB

 

3:22pm BST

 

Rajoy leans on abrasive economist in Spanish crisis

 

Tennis 3:09pm BST

 

Peugeot to talk to unions over job cuts

 

3:00pm BST

 

ADVISORY-UBS Singapore trader story withdrawn

 

2:57pm BST

 

Santander urges Spain to seek bailout as profit plunges

 

Spain 2:51pm BST

 

Friend of UBS "rogue trader" saw Kerviel parallels

 

5:08pm BST

 

Accused UBS fraudster's evidence at trial delayed

 

2:46pm BST

 

Royal Caribbean raises profit view on stronger bookings

 

2:30pm BST

 

Ireland seeks new support to smooth bailout exit

 

IMF 5:17pm BST

 

Cameron urges EU budget restraint in Van Rompuy talks

 

2:04pm BST

 

Daimler doubts deepen as 2013 group targets scrapped

 

2:04pm BST

 

Procter & Gamble soars past profit expectations

 

1:48pm BST

 

Debenhams, ASOS buck retail gloom

 

UK, 1:42pm BST

 

Xstrata investors to vote on Glencore deal on November 20

 

1:29pm BST

 

Ireland eyes ECB bond-buying programme

 

IMF 1:25pm BST

 

Ford says to close factories, cut jobs in Europe

 

1:21pm BST

 

Ireland should meet 2012 fiscal targets - troika

 

1:14pm BST

 

Coca-Cola Enterprises profit hit by European weakness

 

1:11pm BST

 

Credit Suisse to cut $1 billion more costs as profits fall

 

12:50pm BST

 

EU Commission to withhold development funds from Romania

 

12:49pm BST

 

Lending to euro zone private sector falls in September - ECB

 

12:48pm BST

 

European parliament rejects Mersch for ECB board

 

12:47pm BST

 

Friend of accused UBS "rogue trader" gave Kerviel warning

 

12:40pm BST

 

Waigel on Deutsche Bank panel to scrutinise bonuses

 

12:04pm BST

 

EU Commission to withhold development funds from Romania

 

11:51am BST

 

Up to 2,000 UK jobs at risk in Ford closures - union

 

UK, 11:43am BST

 

Ford to cut 1,300 British jobs - Sky News

 

11:27am BST

 

Pernod sees profit growth slowing as Asia cools

 

11:10am BST

 

Unilever sales spruced up by China demand

 

10:57am BST

 

Russia may sell 6 percent of Rosneft in 2013 - Economy Minister

 

10:53am BST

 

France Telecom slashes dividend as price war bites

 

10:47am BST

 

Britain leaves recession after strongest QQ GDP growth in five years

 

UK, 10:31am BST

 

Olympics helps Britain leap out of recession

 

UK 10:18am BST

 

Economy is healing - Chancellor Osborne

 

UK 10:11am BST

 

Ford to axe British van plant to stem Europe losses - sources

 

World 9:52am BST

 

Stobart confident despite a tough first half

 

9:44am BST

 

Exclusive - Huawei partner offered U.S. tech to Iran

 

9:35am BST

 

New CEO has work cut out as AstraZeneca sales fall

 

2:10pm BST

 

Spanish, Italian banks buy govt bonds in Sept - ECB

 

Spain 9:23am BST

 

BoE's Fisher says economy has been flat, not in recession

 

UK, 9:19am BST

 

Hyundai beats Europe slump; concerns over growth strategy

 

9:12am BST

 

WPP cuts revenue outlook on Europe, U.S. slowdown

 

8:53am BST

 

BoE's Bean says UK economic growth should pick up - paper

 

UK 8:46am BST

 

Unilever sales beat forecasts on emerging markets

 

8:32am BST

 

Santander profit drops on property losses

 

Spain 8:29am BST

 

Borneo sees divorce in Bumi Plc's Indonesian partners

 

8:26am BST

 

UK car dealer Inchcape defies gloom with sales uplift

 

8:09am BST

 

France Telecom slashes dividend as price war bites

 

8:05am BST

 

ASOS year profit soars

 

7:54am BST

 

WPP cuts outlook on US, Europe slowdown

 

7:53am BST

 

Hess to sell Beryl assets to Royal Dutch Shell for $525 million

 

7:24am BST

 

U.S. CEOs call for action to reduce federal deficit

 

Aerospace & Defence 7:18am BST

 

Novartis sales disappoint as Diovan patent loss bites

 

7:04am BST

 

Spain speeds up 2013 funding, will cover regional needs

 

Spain 7:02am BST

 

France Tel slashes dividend to cope with cash flow slump

 

6:53am BST

 

Hyundai Motor sees global auto demand growth slowing next year

 

6:49am BST

 

Shares retreat, oil falters on investor unease

 

FXpert, 6:50pm BST

 

Indonesia's Borneo says Bakries agree compensation for Bumi

 

6:35am BST

 

AXA says nine-month revenues rise 1.3 percent, Solvency up

 

6:33am BST

 

Credit Suisse ups cost-savings target after third-quarter net profit slides

 

6:13am BST

 

China factories eye stronger Q4, external risks remain

 

5:56am BST

 

China's yuan hits record high, tests strong-side band limit

 

5:56am BST

 

Carlyle in first Southeast Asia deal with Indonesia tower stake - sources

 

5:43am BST

 

Watchdog faults Treasury, Fed for Libor use, wants alternatives

 

5:04am BST

 

After decades behind the bamboo curtain, Laos to join WTO

 

World 4:47am BST

 

China says 2011 R&D spending up 23 percent on year

 

4:42am BST

 

Carlyle in first Southeast Asia deal with Indonesia tower stake - sources

 

4:19am BST

 

China industrial output may be faster in Q4 vs. Q3 - Ministry

 

4:03am BST

 

U.S. sues Bank of America over "Hustle" mortgage fraud

 

3:17am BST

 

Starwood Capital to buy LNR Property for more than $1 billion - WSJ

 

3:01am BST

 

Ex-Goldman director Gupta sentenced to two years' jail

 

2:19am BST

 

Britain probably out of recession as one-offs boost growth

 

UK 1:11am BST

 

Ex-Goldman director Gupta gets 2-year prison sentence

 

12:35am BST

 

Walker starts Barclays board clean-up - FT

 

12:29am BST

 

FSA bans "liar loan" mortgages from 2014

 

UK, 12:16am BST

 

Brazil, Spain in focus in Santander 9-month results

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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Britain bounces back from double-dip recession, but experts urge caution over GDP figures

 

25 October 2012 12:22 PM

David Cameron and George Osborne were handed an economic boost today as figures showed that Britain had bounced strongly out of recession over the summer.

 

 

 

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What recovery? Ford to axe 1,400 jobs at two UK plants

 

25 October 2012 04:47 PM

Ford workers in Southampton and Dagenham were left “shocked and angry” today after the US carmaker axed 1,400 jobs in the UK, dealing a major blow to the economy just hours after it officially emerged from recession.

 

 

 

Hackett London reports 30% annual sales rise

 

25 October 2012 05:23 PM

Hackett London, the upmarket preppy menswear brand, has beaten the high street malaise and reported a near 30 per cent rise in sales for the year.

 

 

 

Hackett London reports near 30 per cent rise in sales for the year

 

25 October 2012 05:23 PM

Hackett London, the upmarket preppy menswear brand, has beaten the high street malaise and reported a near 30 per cent rise in sales for the year.

 

 

 

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Resurgent Debenhams plans expansion in a move set to create 1,700 jobs

 

25 October 2012 08:38 AM

Department store Debenhams hailed a resurgent year on the high street as it announced plans to open another 17 UK stores over the next five years.

 

 

 

Ex-Goldman director jailed Rajat Gupta

 

25 October 2012 12:00 AM

Rajat Gupta, the ex-McKinsey chief and Goldman Sachs board member who was convicted earlier this year of leaking insider information to hedge fund manager Raj Rajaratnam, failed in his bid to avoid jail time yesterday after a New York judge sentenced him to two years behind bars.

 

 

 

CBI reveals worsening picture for UK output

 

25 October 2012 12:00 AM

Manufacturing output is at its lowest level in three years, in what could be a further blow to hopes for a swift economic recovery, according to the Confederation of British Industry (CBI).

 

 

 

Olympic boost helps Sports Direct beat the slump

 

25 October 2012 12:00 AM

Nearly every other shop in Britain might be struggling to pay its way, but Sports Direct is flogging enough £1.49 tracksuit bottoms and 29p Wayne Rooney masks to send sales up 18 per cent to £403m in the nine weeks to October.

 

 

 

BATS strikes it lucky with revenues

 

25 October 2012 12:00 AM

A sharp hike in tobacco taxes in Brazil saw the volume of cigarettes British American Tobacco sold across the world decline in the three months to September. But the ability to push through price rises and good growth from key brands Kent, Dunhill, Pall Mall and Lucky Strike helped keep revenue growth at 4 per cent.

 

 

 

Tangent gets European foothold

 

25 October 2012 12:00 AM

Tangent is expanding in Europe after buying rival Goodprint for £10m. Shares in the Aim-listed printer, chaired by the former Carlton TV chief Michael Green, closed up 0.625p at 10.75p as Tangent also posted a 3 per cent rise in interim profits to £964,000.

 

 

 

EU charges Microsoft

 

25 October 2012 12:00 AM

The European Union has accused Microsoft of failing to offer a choice of internet browsers with its Windows operating software, which could lead to it being fined billions of dollars.

 

 

 

BHP urged to act on Colombia pit

 

25 October 2012 12:00 AM

Felipe Ustate, a community leader in the north of Colombia, will use BHP Billiton's AGM today to call on non-executive director Baroness Shriti Vadera for redress over the giant El Cerrojon open-cut coal mine that he says has forced many people off their land.

 

 

 

Punch Taverns set to cut £2bn debt

 

25 October 2012 12:00 AM

The British pub industry is still in decline, the boss of the 4,500-strong Punch Taverns chain declared yesterday.

 

 

 

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Ford set to axe British plant after dire sales in eurozone

 

25 October 2012 06:30 AM

After closure of Belgian plant, Transit van site in Southampton awaits fate

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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25 October 2012 Last updated at 20:18

 

 

UK's return to growth welcomed_63717490_opening.jpg

 

News that the UK economy emerged from recession in the three months from July to September, helped by the Olympic Games, gets a cautious welcome.

 

 

_63707180_016322775.jpgFord cutting 1,400 jobs in the UK

 

Carmaker Ford announces plans to close two UK plants next year, one in Southampton and one in Dagenham, with the loss of 1,400 jobs.

 

 

 

_63684189_003927364-1.jpgNew mortgage rules set for 2014

 

Tougher rules on UK mortgage lending have been confirmed by the City regulator, but they will come into force later than anticipated.

 

 

 

 

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]

 

British growth rebound reduces prospect of more money printing

 

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Britain has bounced back from recession so strongly that there is no need for more money printing, economists said, as business groups called on the Coalition to take action now to secure the recovery.

11 Comments

GDP figures show Britain's double-dip recession is over

 

 

It's no 'spectacular' recovery, but there are reasons to be cheerful

 

 

In graphics: how Britain's economy has fared

 

 

UK GDP rises 1pc: economist reaction

 

 

Double-dip 'left Britons £1,800 a year poorer'

 

 

 

 

Ford to axe 1,400 jobs in UK as it shuts plants

 

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Ford is to close manufacturing sites in Southampton and Dagenham with the loss of 1,400 jobs, bringing to an end a century of the car maker's vehicle production in the UK.

236 Comments

Ford in Dagenham: a timeline

 

 

 

Europe risks Japanese slump as money shrinks

 

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All key measures of the eurozone money supply contracted in September and private credit fell at an accelerating pace, dashing hopes of a quick recovery from recession.

3 Comments

Debt crisis: as it happened - 25 October, 2012

 

 

Act on pledge to ease Irish debts, IMF urges EU

 

 

Yves Mersch rejected for ECB role as MEPs want woman

 

 

 

Penguin and Random House in merger talks

 

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Two of the world’s biggest book publishers, Penguin and Random House, could merge into a single powerhouse in a £2.4bn deal.

5 Comments

 

Santander makes 'mystery' £232m provision

 

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Mystery surrounds a £232m provision made by Santander UK for unspecified compensation costs the lender may face in future.

5 Comments

 

Apple faces pressure over iPhone 5 hopes

 

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Apple will struggle to match Wall Street's estimates for sales of its new iPhone 5, analysts have warned ahead of expected record annual profits.

Comment

 

Asda, Sainsbury and Tesco cut petrol prices

 

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Supermarket groups Asda, Sainbury and Tesco cut 2p from a litre of petrol on Thursday.

 

Eurozone woes put the skids on British car making

 

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It will be a challenge for the industry to drive a meaningful UK recovery.

It’s still a hard toil to the sunlit uplands of recovery

 

The last presidential debate was a reminder the US can't end Europe's woes

 

GDP bounce may be the confidence boost the economy needs

 

It’s still a hard toil to the sunlit uplands of recovery

 

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Despite the GDP figures, tough times will be with us for years, says Jeremy Warner

Comment

Eurozone nears Japan-style trap as money and credit contract again

 

 

 

 

Good news on GDP – bad news for Labour

 

 

 

 

The last presidential debate was a reminder the US can't end Europe's woes, but it must sort out its own

 

 

 

 

 

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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Michigan Vote a Test Case on Enshrining the Rights of Unions

 

By STEVEN GREENHOUSE 12:15 PM ET

 

 

Unions in Michigan are asking voters to approve a referendum that would secure labor protections.

 

 

 

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Stephen McGee for The New York Times

 

Ivy Bailey, an elementary school teacher in Detroit, said collective bargaining helped lift her father, a plant worker at General Motors, into the middle class.

 

 

 

 

 

 

 

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Business Leaders Urge Deficit Deal Even With More Taxes

 

By JACKIE CALMES 1:28 PM ET

 

Business leaders are stepping up pressure on Washington to get a deficit-reduction deal completed even if it calls for more revenues — including higher tax bills for themselves.

 

Britain Pulls Out of Recession in Third Quarter

 

By DAVID JOLLY

 

Britain's gross domestic product grew 1 percent in the third quarter, thanks in part to revenue from the Olympic and Paralympic Games.

 

Ford to Close 3 Plants to Stem European Losses

 

By BILL VLASIC and DAVID JOLLY 1:54 PM ET

 

Ford broke from the pack of troubled European automakers, announcing deep cuts that include shutting factories in Britain and Belgium and eliminating 5,700 jobs.

 

Media Decoder

 

Pearson and Bertelsmann in Talks to Combine Random House and Penguin

 

By ERIC PFANNER 1:26 PM ET

 

The deal, if completed, would combine two of the biggest publishers in the world as they try to compete in an evolving book market.

 

Bits Blog

 

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Ballmer and Dell Talk Windows 8 and Surface Tablet

 

By NICK WINGFIELD 10:45 AM ET

 

In a rare joint interview, Steve Ballmer and Michael Dell, the chief executives of Microsoft and Dell, discussed Windows 8 and how Microsoft’s new Surface tablet will compete with products from Microsoft’s partners.

 

 

Chevron, Intent on European Shale Gas, Buys Lithuanian Stake

 

By STANLEY REED 10:04 AM ET

 

The U.S. energy giant is betting on its “fracking” strategy for the Continent, despite environmental opposition in some countries.

 

Jobless Claims Drop, While Capital Goods Orders Stall

 

By THE ASSOCIATED PRESS 9:47 AM ET

 

The Labor Department said that initial claims for state unemployment benefits dropped 23,000 last week, to a seasonally adjusted 369,000.

 

 

Media Decoder Blog

 

Times Company Posts a Profit but Revenue Slips

 

By CHRISTINE HAUGHNEY 2:08 PM ET

 

The New York Times Company reported third-quarter net income of $2.28 million, or about 2 cents a share, on revenue of $449 million. The market responded by sending shares down as much as 18 percent.

 

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British Parliament Questions Former BBC Chief’s Role

 

By MATTHEW PURDY and CHRISTINE HAUGHNEY 10:57 AM ET

 

As the investigation into the BBC’s handling of Jimmy Savile continues, the actions of its former director general, Mark Thompson, are coming under increased scrutiny.

 

 

 

 

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

Claims: +369k

From the US Department of Lies:

In the week ending October 20, the advance figure for seasonally adjusted
initial claims
was 369,000, a decrease of 23,000 from the previous week's revised figure of 392,000. The 4-week moving average was 368,000, an increase of 1,500 from the previous week's revised average of 366,500.

Meh. Still stinky.

 

More at the link.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Durables: Aw Crap

Heh, this was a good report, right!

New orders for manufactured durable goods in September increased $19.6 billion or 9.9 percent to $218.2 billion, the U.S. Census Bureau announced today. This increase, up four of the last five months, followed a 13.1 percent August decrease. Excluding transportation, new orders increased 2.0 percent. Excluding defense, new orders increased 9.1 percent.

rofl.gif

Uh huh.

The table inside is amusing. Nondefense aircraft was up 2,640.7% on the month. No, I didn't spit coffee on my keyboard and short it out, that's really the number. And that might have something -- just a wee bit -- to do with the headline figure.

Computers, comms, and electrical gear were all down on new orders, and as you know my leading indicator for employment and the economy is in the computers and communications gear category. It sucks.

 

No figures there to distort the numbers...

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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The Fraud Of MMT

Last night's "debate" with Stormin' Norman, who seems to believe that:

 

  • An index value in a fiat world, with no anchor to measure against, demonstrates the absolute strength of a currency. (No it doesn't; measure against a tangible item one cannot increase at-will, such as gasoline, wheat, corn, etc.)
  • The amount "saved" by the population (which is in and of itself a fraud; the "personal savings" rate is computed in the economy as personal income less personal expenditures; note that this counts paying a debt as "savings") is exactly identical to government deficit spending. This in turn implies that should the government not run a deficit the people cannot possibly spend less than they make. How this sort of silly conflation occurred in people's minds is beyond me, but it persists.

 

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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