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BoE's Broadbent undecided on further asset purchases - newspaper

 

8:10pm GMT

 

Global regulators probe how banks tot up risks

 

G20 8:03pm GMT

 

Energy markets rise on Sandy, insurers fall

 

FXpert, 7:55pm GMT

 

Ford tumbles again in reliability survey; Toyota gains

 

Japan 7:53pm GMT

 

Stocks dip as Hurricane Sandy hits insurers, energy shares

 

FXpert 6:48pm GMT

 

NZ's Morrison joins bids for Stansted airport - sources

 

UK, 6:47pm GMT

 

UBS bosses influenced my trading, says accused trader

 

6:38pm GMT

 

UBS shares jump at prospect of 10,000 job cuts

 

6:33pm GMT

 

UBS bosses influenced my trading, says accused trader

 

6:31pm GMT

 

Barclays Libor case to go to trial

 

6:27pm GMT

 

Hedge fund firm Polygon sold for $99 million

 

6:23pm GMT

 

Analysis - Anglo American break-up would be fraught with difficulty

 

6:17pm GMT

 

UK banks beginning to turn over new leaf - BoE's Haldane

 

UK 6:16pm GMT

 

"Quant" hedge funds headed for worst month since August 2007

 

6:11pm GMT

 

U.S. stock markets to remain closed on Tuesday

 

5:57pm GMT

 

U.S. stock markets expected to shut on Tuesday: sources

 

5:29pm GMT

 

Stock market seen closed Tuesday: source

 

5:29pm GMT

 

Trio to succeed retiring CVC chairman Smith

 

5:20pm GMT

 

Politics puts Italy, Spain back in market focus

 

Spain, IMF 6:50pm GMT

 

Spain's bad bank lures investors with steep discounts

 

Spain 7:01pm GMT

 

Gazprom unveils $38 billion gas project to conquer Asia

 

5:09pm GMT

 

U.S. stock market to be closed on Tuesday: sources

 

5:00pm GMT

 

U.S. stock markets unlikely to open Tuesday: exchange official

 

4:46pm GMT

 

Random House and Penguin merge to take on retailers

 

4:34pm GMT

 

New AstraZeneca CEO gets $6.4 million for jumping ship

 

4:31pm GMT

 

Merkel faces growing lawmaker rebellion over aid to Greece

 

4:13pm GMT

 

Greek banks to be recapitalised partly via shares

 

4:04pm GMT

 

Investors' fears of euro zone breakup fall sharply in October - survey

 

3:53pm GMT

 

German finance minister repeats message on Irish "special case" status

 

3:36pm GMT

 

Exclusive - EU regulators want Glencore concessions on Xstrata deal: source

 

3:09pm GMT

 

BMW to recall 7 Series for transmission flaw

 

2:41pm GMT

 

Spain's Rajoy opposes EU Commissioner budget power idea alone

 

2:26pm GMT

 

Petronas agrees to renew bid for Canada's Progress-sources

 

4:58pm GMT

 

Rosneft to buy BP out of TNK-BP first - source

 

12:40pm GMT

 

Petronas Chemicals to end vinyl business, take $184 million charge

 

12:29pm GMT

 

Analysis - Long-term battle for euro hinges on growth reforms

 

12:04pm GMT

 

Rebound in consumer credit boosts growth prospects

 

UK, 11:37am GMT

 

Spain retail sales decimated by VAT hike

 

Spain 11:25am GMT

 

Analysis - Euro zone ponders best path to "GEMU"

 

11:18am GMT

 

Hungary hints at life without IMF deal

 

2:05pm GMT

 

France rebuffs business call for payroll tax cut

 

11:15am GMT

 

Merkel aide says new Greek haircut would violate German law

 

11:08am GMT

 

Greek banks to be recapitalised partly via shares

 

10:47am GMT

 

Italy's six-month debt costs fall at auction

 

10:12am GMT

 

Instant View - September consumer credit strongest since February 2008

 

UK, 10:03am GMT

 

ECB couldn't participate in Greek haircut - Nowotny

 

9:42am GMT

 

Heathrow warns weak summer traffic to hit earnings

 

UK 9:38am GMT

 

F&C funds flow drops on Friends withdrawal

 

9:23am GMT

 

GSK raises bet on AIDS drug with new Shionogi deal

 

Japan 9:05am GMT

 

Honda cuts forecasts, hopes for China recovery in February

 

Japan 8:58am GMT

 

HK property shares slump on curbs to cool soaring prices

 

7:45am GMT

 

F&C sees third quarter Assets Under Management fall

 

7:38am GMT

 

TNT Epress posts lower Q3 profit, expects UPS takeover approval

 

7:25am GMT

 

South Africa's Nedbank says on track for FY targets

 

7:21am GMT

 

Honda cuts FY profit forecast as China backlash hits

 

Japan 6:51am GMT

 

Honda sees China business impact until February holidays

 

6:51am GMT

 

Nomura returns Q2 profit on fixed income gains

 

Japan 6:26am GMT

 

Petronas agrees to renew bid for Canada's Progress - sources

 

5:16am GMT

 

In San Francisco, tech investor leads a political makeover

 

5:13am GMT

 

Ford to sell climate control business to Detroit Thermal Systems

 

4:59am GMT

 

Honda scraps global sales forecast over China woes

 

Japan 4:55am GMT

 

Honda sheds nearly 5 percent after cutting full-year guidance

 

4:55am GMT

 

BoE's Dale says UK growth to falter after Olympic boost - Times

 

4:54am GMT

 

China eyes consolidation in eight industries - paper

 

4:05am GMT

 

Hong Kong property shares slump on new curbs, New World Development sinks

 

2:26am GMT

 

Vodafone says to cut 10 percent of Australia staff

 

2:22am GMT

 

Japan finance minister urges BOJ to seek bold easing vs deflation

 

Japan 2:18am GMT

 

Shionogi to take 10 percent stake in GSK, Pfizer HIV drug venture

 

Japan 12:43am GMT

 

UK firms plan to add staff over next 12 months - CBI survey

 

UK, 12:06am GMT

 

UK legal takeovers help firms maintain earnings - survey

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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Posted Images

29 October 2012 Last updated at 20:04

 

 

Five million 'below living wage'_63779248_h4la6ong.jpg

 

One in five workers in the UK is paid less than required for a basic standard of living, a KPMG report says. 1302

 

 

_63782703_63781678.jpgBook merger 'will not be blocked'

 

Penguin and Random House, which are merging to form one of the world's biggest publishers, are confident of regulatory approval but will sell "bits and pieces" if necessary.

 

 

 

_63786459_nysesandbagsoutside.jpgHurricane to close markets again

 

Hurricane Sandy has severely disrupted financial dealings in the US and is set to close stock exchanges for a second day.

 

 

 

 

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]

 

Greece must have debt relief, leaders to tell Angela Merkel

 

greece_2382608g.jpg

A delegation of leaders are to warn Angela Merkel that Germany must agree to Greek debt relief or risk plunging the eurozone into a fresh and more dangerous phase of the crisis.

28 Comments

Rajoy rules out imminent request for help

 

 

Debt crisis: as it happened - 29 October, 2012

 

 

 

 

Barclays told to reveal staff who fixed Libor

 

barclays_2204767g.jpg

Barclays will be forced to disclose the names of staff involved in Libor rigging, following a damning court judgment over claims it mis-sold interest rate swaps to a care home operator.

Comment

 

DfT knew it risked legal row over West Coast

 

westCoastRail_2361851g.jpg

The Department for Transport knew seven months ago that it did not have the correct methods to evaluate bids for the West Coast rail franchise and that it risked a legal challenge from train operators.

Comment

Heathrow rejects Gatwick rail link plan

 

 

 

Russia offers to build UK nuclear plants

 

nuke_2354789g.jpg

Moscow has offered to help Britain build nuclear power stations in partnership with Rolls-Royce, Russia’s deputy prime minister Igor Shuvalov has said.

23 Comments

 

BoE: construction sector should improve soon

 

boe_2382373g.jpg

The British construction sector, which has been the main drag on the economy this year, should improve soon, Bank of England policymaker Ben Broadbent has said.

14 Comments

House sales jump again as sellers lower prices

 

 

UK consumer lending hits 4-year high

 

 

 

Penguin and Random House in £2.4bn merger

 

penguin-random-hou_2381712g.jpg

Penguin and Random House have agreed to merge in a £2.4bn deal that will create the biggest book publisher in the world, with Pearson, Penguin's parent company, owning 47pc of the combined company.

35 Comments

Penguin and Random House: facts and figures

 

Debt crisis: Greece must have debt relief, leaders to tell Angela Merkel

 

merkel_2372868g.jpg

A delegation of leaders are to warn Angela Merkel that Germany must agree to Greek debt relief or risk plunging the eurozone into a fresh and more dangerous phase of the crisis.

28 Comments

Debt crisis: as it happened - 29 October, 2012

 

 

 

 

Greece more risky for investors than Syria

 

 

 

 

Top 10 law firms increase their dominance, says PwC

 

Europe left behind as shale shock drives America’s resurgence

 

Tightening fiscal policy on this scale will send the US into recession

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

Brunt of Business Impact Yet to Come

 

By NELSON D. SCHWARTZ 35 minutes ago

 

 

The effects of the storm were expected to be felt by the economy well after Hurricane Sandy comes and goes as consumers stay home and focus on cleanup and recovery.

 

 

 

30stormbiz-sfSpan.jpg

Ruth Fremson/The New York Times

 

The windows of the Saks Fifth Avenue department store in Manhattan were boarded up Monday morning.

 

 

 

 

 

 

DealBook

 

U.S. Markets to Be Closed on Tuesday

 

By MICHAEL J. DE LA MERCED 3:04 PM ET

 

The New York Stock Exchange, Nasdaq and BATS Global Markets said in separate statements that they have agreed to close, after consulting with other exchanges and clients.

 

 

 

Random House and Penguin to Be Combined

 

By ERIC PFANNER 3:28 PM ET

 

The deal between the media companies Bertelsmann, which owns Random House, and Pearson, which owns Penguin, would further consolidate English-language book publishing and might draw antitrust scrutiny.

 

DealBook

 

Behind Estimated $30 Trillion Drain, a Lot of Hypothetical Assumptions

 

By PETER EAVIS 2:53 PM ET

 

A banking industry group recently looked into a new rule and sketched out a situation in which banks were forced to come up with as much as $30 trillion in cash. But a deeper look at the figure suggests that many of the worries might be overdone.

 

Chrysler Profit Rises 80 Percent

 

By BILL VLASIC 3:27 PM ET

 

New models, less debt and steadily growing sales helped the Detroit automaker earn $381 million in its third quarter.

 

Italy and Spain Keep E.C.B.'s Offer on the Shelf

 

By RAPHAEL MINDER 2:04 PM ET

 

Spain and Italy insisted Monday that neither had near-term plans to invoke the bond-buying program that the European Central Bank had offered.

 

Former Judge Opens Inquiry Into Savile Sex Abuse Case

 

By ALAN COWELL and NICHOLAS KULISH

 

A former senior judge will investigate the “culture and practices” at the corporation behind the sexual abuse scandal surrounding the late television host Jimmy Savile.

 

Anderson Cooper Talk Show Won't Return for a Third Season

 

By BILL CARTER 1:22 PM ET

 

The talk show from Mr. Cooper, who is also a mainstay in prime time on CNN, never drew the ratings that had been expected.

 

Bits Blog

 

29bits-google-thumbStandard.jpg

Like Apple, Google Now Has Devices That Come in Three Sizes

 

By BRIAN X. CHEN 1:48 PM ET

 

With the addition of the iPad Mini, Apple offers touch-screen devices in three sizes. Now its competitor Google is doing the same with the introduction of a 10-inch tablet, a new smartphone and an upgraded seven-inch tablet.

 

 

 

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

Personal Income And Spending: Meh

From the BEA this morning:

Personal income increased $48.1 billion, or 0.4 percent, and disposable personal income (DPI) increased $43.0 billion, or 0.4 percent, in September, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $87.9 billion, or 0.8 percent. In August, personal income increased $17.8 billion, or 0.1 percent, DPI increased $15.1 billion, or 0.1 percent, and PCE increased $59.9 billion, or 0.5 percent, based on revised estimates.

The goofbox is crowing about this being a "great number" -- is it?

Real disposable income decreased less than 0.1 percent in September, compared with a decrease of 0.3 percent in August.

Wait -- decreased? Is that good when people have their purchasing power damaged?

 

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

Gary Shilling Is An Optimist

Gary continues to talk about deleveraging in the economy and markets as if there's some of that actually going on, and which is of course used as justification for QE3:

The only thing that would restore normal global growth, I argued, was time -- the five to seven years it will take for deleveraging to be completed.

But there is no deleveraging. That's the entire point of QE(whatever) -- preventing that deleveraging!

There have been only a couple of places where any deleveraging has taken place. Home mortgages, for example, have "de-levered" by about $1.05 trillion, or roughly 10% of the maximum amount in Q2 2008. However, the total amount of debt owed by that same group (persons and non-profits) has decreased by only $876.490 billion during the same period. In other words net-net leverage is still increasing (much of it in student loans!) while home mortgages have modestly decreased in outstanding size.

 

More at the link.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Breaking news

 

 

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Hitachi '100-year commitment' boosts UK's nuclear plans

 

30 October 2012 05:10 PM

Plans for a fleet of new nuclear power stations received a massive boost today when Japanese engineering giant Hitachi took over a deal to build two power plants which could be feeding electricity into the national grid in the first half of the 2020s.

 

 

Barclays is hauled to High Court over rate-fix scandal

 

30 October 2012 12:00 AM

Judge orders test case over care home operator's £38m Libor-rigging and swap mis-selling claim but bank says action has 'no merit'. Simon Read reports

 

 

3-ubs-epa.jpeg

British banking jobs at risk as UBS announces plans to cut 10,000 jobs worldwide

 

30 October 2012 10:11 AM

More British banking jobs were at risk today after UBS said it is to cut up to 10,000 roles worldwide in moves to shrink its investment banking arm.

 

 

 

Royal-mail-pa.jpeg

Royal Mail to create 1,000 new jobs

 

30 October 2012 10:08 AM

Royal Mail has announced a £75 million investment programme for its UK express parcels business, creating 1,000 jobs.

 

 

 

iPhone-146177705.jpg

iPhone Maps clash leads to departure of top Apple executive

 

30 October 2012 10:10 AM

A high profile row over how to handle the fallout from the disastrous launch of Apple’s iOS Maps service has led to the resignation of the company’s Senior Vice-President of iOS Software, the Wall Street Journal claims today.

 

 

 

AstraZeneca's new boss set for £11m pay package

 

30 October 2012 12:00 AM

AstraZeneca has given its new chief executive a pay package worth about £11m, including a £4m "golden hello" to compensate Pascal Soriot for giving up long-term incentives at his previous job.

 

 

 

Consumers' borrowing boosts Bank's loans push

 

30 October 2012 12:00 AM

Consumers embarked on their biggest borrowing spree since before the recession during September, giving the Bank of England's £80bn efforts to revitalise lending a major boost.

 

 

 

wetherspoon.jpg

JD Wetherspoon founder Tim Martin opens trading on London Stock Exchange to mark his firm's 20 years as a listed company

 

30 October 2012 12:13 PM

JD Wetherspoon founder Tim Martin marked his company's 20 years as a listed company today by opening trading on the London Stock Exchange.

 

 

 

ocado.jpeg

Ocado sorry as deliveries are cancelled after systems failure

 

30 October 2012 11:25 AM

Ocado has apologised to customers after a systems failure forced it to cancel thousands of deliveries.

 

 

 

branston-rex.jpg

The £90m pickle: Branston sold to Japan firm

 

30 October 2012 09:44 AM

One of the nation's favourite sandwich fillers, Branston Pickle, is to be sold to a Japanese firm in a deal worth £92.5 million.

 

 

 

Trinity gains on local paper link-up with rival DMGT

 

30 October 2012 12:00 AM

Shares in Trinity Mirror jumped nearly 8 per cent yesterday after the media group admitted it could be joint owner of a new regional newspaper business alongside its rival Daily Mail and General Trust.

 

 

 

Pg-29-google-getty.jpg

Google chief in battle against EU 'news tax'

 

30 October 2012 12:00 AM

The head of Google was in France yesterday for talks with President François Hollande, trying to head off a movement in EU countries to force the search engine to pay a small charge each time it links its users to articles on news websites.

 

 

 

Banks becoming 'more socially useful'

 

30 October 2012 12:00 AM

Banks are on the way to delivering a more "socially useful" banking system after becoming a focus of public anger in the financial crisis, the Bank of England's director of financial stability said yesterday.

 

 

 

GSK in HIV drug deal with Shionogi

 

30 October 2012 12:00 AM

GlaxoSmithKline has beefed up its interest in an HIV drug which analysts regard as a potential multi-billion-dollar-a-year blockbuster.

 

 

 

Three more traders suspended in Libor inquiry

 

30 October 2012 12:00 AM

Russell Lynch

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

Outsider should head new banking watchdog - ECB's Praet

 

7:51pm GMT

 

BP says no injuries in Texas City hydrotreater fire

 

7:11pm GMT

 

BP spurs biggest FTSE gains for two weeks

 

FXpert 6:36pm GMT

 

U.S. stock markets to reopen Wednesday

 

6:35pm GMT

 

Imperial Tobacco loses out to Spanish black market

 

Spain 6:32pm GMT

 

UBS to cut 10,000 jobs in fixed income retreat | btn_rel_video.gif

 

6:09pm GMT

 

Rival banks face hard decisions after UBS retreat

 

6:09pm GMT

 

Telecom Plus sees boost from PM's energy tariff proposal

 

6:05pm GMT

 

Locked-out UBS traders head to the pub

 

6:04pm GMT

 

Hitachi wins bid to build up to six UK nuclear plants

 

Nuclear Power, David Cameron, UK 7:13pm GMT

 

Fiat slashes targets as Europe gloom persists

 

5:12pm GMT

 

Ford profit beats forecasts on record North America margins

 

5:03pm GMT

 

Glencore faces midnight deadline for EU concessions

 

4:22pm GMT

 

NYSE Euronext says intends to open as usual on Wednesday

 

3:50pm GMT

 

Barclays suspends bid for Namibia's Bank Windhoek

 

3:26pm GMT

 

Fiat downshifts targets as Europe gloom persists

 

2:58pm GMT

 

French minister urges euro zone to start pooling debt

 

5:32pm GMT

 

Italian debt costs fall as political jitters ignored

 

2:56pm GMT

 

Portugal plans state reform to cut spending

 

2:45pm GMT

 

BP hikes dividend as fights back from oil spill

 

Gulf Oil Spill 2:19pm GMT

 

Greek coalition allies snub PM's appeal on austerity

 

5:24pm GMT

 

UK says will use top court to defend banking sector

 

UK, 1:56pm GMT

 

Ford profit beats forecasts on record North America margins

 

1:49pm GMT

 

Retail sales jump boosts chances of recovery

 

1:37pm GMT

 

UK says difficult to reach deal on EU budget in Nov

 

1:22pm GMT

 

Unfazed by IMF doubts, Hungary cuts rates again

 

IMF 4:32pm GMT

 

Greek PM appeals to coalition allies to back austerity

 

1:07pm GMT

 

Governments reject latest EU budget compromise

 

David Cameron 4:20pm GMT

 

UBS says under investigation in Singapore over possible rate manipulation

 

12:21pm GMT

 

Deutsche Bank profit lifted by debt market rebound

 

12:09pm GMT

 

Rosneft's stake sale to BP part of privatisation - minister

 

12:03pm GMT

 

Russia's TNK-BP profit up 53 percent on lower taxes

 

12:03pm GMT

 

Hitachi seeking operator for UK nuclear project

 

Japan, UK 7:13pm GMT

 

Italian debt costs fall as political jitters ignored

 

11:47am GMT

 

Spain recession drags on with no aid in view

 

Spain 6:21pm GMT

 

Spain's Parliament to invite ECB's Draghi to discuss debt plan

 

Spain 11:35am GMT

 

Opel looks to aid Bochum, site of endangered plant

 

11:34am GMT

 

Strike-hit Lonmin to raise $800 million for recovery

 

1:51pm GMT

 

Lonmin investor Xstrata considering position on rights issue

 

11:25am GMT

 

German, French finance ministers push for Greek solution in November

 

11:25am GMT

 

Banks in funding scheme represent 80 pct of lending - BoE

 

UK, 11:09am GMT

 

German joblessness rises as euro zone crisis bites

 

11:05am GMT

 

Family of brain-damaged worker takes Foxconn to court in China

 

World 1:44pm GMT

 

Want to be Hungarian? Buy some bonds

 

10:47am GMT

 

Porsche SE to use bulk of cash for acquisitions

 

10:30am GMT

 

Russia's TNK-BP Q3 net profit up 53 percent year-on-year

 

10:12am GMT

 

BOJ boosts stimulus for sagging economy, markets unimpressed

 

Japan 9:23am GMT

 

Standard Chartered eyes wider Iran settlement by year end

 

9:18am GMT

 

Shares in loss-making airline SAS halted as rumours swirl

 

Aerospace & Defence 9:04am GMT

 

Egypt court rules Centamin contract void

 

9:04am GMT

 

BOJ Shirakawa: two board members doubt inflation target on track

 

Japan 8:26am GMT

 

Wolfson returns to profit on tablet, smartphone demand

 

8:11am GMT

 

Imperial Tobacco earnings rise eight percent

 

8:04am GMT

 

Lonmin plans $800 million rights issue

 

7:56am GMT

 

Nestle names Cantarell new head of nutrition unit

 

7:52am GMT

 

Japan Maehara: government-BOJ statement important in deflation fight

 

Japan 7:42am GMT

 

Deutsche Bank ups job cut figure to 1,993 headcount

 

7:38am GMT

 

Stagecoach boosted by strong UK rail showing

 

UK, 7:35am GMT

 

Singapore Airlines ups pressure on Qantas with Virgin Australia deal

 

Aerospace & Defence 7:04am GMT

 

Deutsche Bank third-quarter lifted by rebounding markets

 

6:54am GMT

 

Shares see modest rise as U.S. storm impact assessed

 

FXpert 3:01pm GMT

 

Insight - A giant storm and the struggle over closing Wall Street | btn_rel_video.gif

 

10:03am GMT

 

Yen rises after BOJ eases policy as expected

 

Japan 6:12am GMT

 

Nokia says shipping new Lumia smartphones this week

 

6:03am GMT

 

India leaves interest rates unchanged, cuts CRR

 

5:59am GMT

 

India leaves interest rates on hold, cuts cash reserve ratio

 

5:36am GMT

 

North Korean bootmakers want to score with Messi

 

Sports 7:12am GMT

 

Panasonic may curb solar panel, lithium battery expansion - sources

 

4:37am GMT

 

China October official PMI set to confirm recovery trend

 

3:02am GMT

 

Japan seeks exemption on U.S. sanctions on Iran - Nikkei

 

Japan 1:35pm GMT

 

Exclusive: JDA Software on the block - sources

 

2:39am GMT

 

Singapore Airlines ups pressure on Qantas with Virgin Australia deal

 

Aerospace & Defence 2:09am GMT

 

Royal Mail to create 1,000 UK jobs as part of parcels expansion

 

UK, 1:28am GMT

 

U.S. economy may skirt direct hit from Hurricane Sandy

 

1:24am GMT

 

BlackRock says China, U.S. to power commodities markets

 

1:09am GMT

 

UBS set to exit fixed income, fire 10,000 bankers

 

1:01am GMT

 

BOJ expected to ease policy as output, spending slump

 

Japan 12:41am GMT

 

South Korea plans foreign exchange inspection on banks

 

12:20am GMT

 

Deutsche Bank profit seen higher on bond trading

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

30 October 2012 Last updated at 19:52

 

 

Hitachi buys UK nuclear project_63790955_wylfa304.jpg

 

Japan's Hitachi has bought the UK's Horizon nuclear project from German companies E.On and RWE, giving it rights to build new power plants.

 

 

_63796962_63796956.jpgSandy damage estimated at $20bn

 

Businesses on the US East Coast continue to be disrupted by storm Sandy, with total damage estimated at between $10bn and $20bn (£6bn-£12bn).

 

 

 

_63811704_cab.jpgTalks to save London taxi firm

 

Administrators at the maker of London black cabs, Manganese Bronze, say they are talking to an "encouraging" list of parties interested in its rescue.

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

[/url]

 

Spain's economy shrinks 0.3pc as VAT rise hits consumers

 

spain-protest_2351260g.jpg

Spain's economy contracted by 0.3pc in the third quarter of 2012 as domestic demand slumped in a lengthening recession.

2 Comments

Debt crisis: as it happened - October 30, 2012

 

 

UK 'sorely needed' in EU, says Germany's Schaeuble

 

 

Greece must have debt relief, leaders to tell Angela Merkel

 

 

Rajoy rules out imminent request for help

 

 

 

 

Banks are wrong on PPI 'fraud'

 

osoria_2122826g.jpg

Britain's top financial ombudsman has questioned allegations by high street lenders that many of the claims against them for payment protection insurance compensation are fraudulent.

12 Comments

HBOS whistleblower was 'abused' by top executive

 

 

Lenders flock to join Funding for Lending scheme

 

 

 

UBS job cuts: London staff head for the pub

 

ubs_2383346g.jpg

UBS bankers in London were turned away from their offices on Tuesday and handed a letter putting them on "special leave", just hours after the Swiss bank unveiled a radical restructuring to axe 10,000 jobs.

188 Comments

UBS axes 10,000 jobs and posts loss

 

 

 

West Coast figures a further blow to DfT

 

west-coast-rail-li_2359263g.jpg

Subdued half-year revenue figures for the beleaguered West Coast Main Line have raised further questions over why the Department for Transport accepted a bid that promised annual growth of 10.4pc.

Comment

 

Hitachi nuclear deal to create 12,000 UK jobs

 

radio_2370271g.jpg

Hitachi, the Japanese energy and engineering company, has agreed to buy Britain’s nuclear project Horizon for an estimated £700m in a deal which could create up to 12,000 jobs in the country.

261 Comments

 

Ford reports best-ever third quarter

 

Transit-monster-tr_2343402g.jpg

Ford posted its best-ever third quarter results but losses in Europe increased by 50pc compared to the same quarter in 2011.

 

Retailers face new "poll tax" over business rates revaluation

 

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Under-pressure shops in Britain face the “retail equivalent of the poll tax” if the Government presses ahead with plans to halt a revaluation of business rates, according to MPs.

Comment

Spain sinks deeper into recession in third quarter

 

 

 

 

Debt crisis: as it happened - October 30, 2012

 

 

 

 

Lenders flock to join Funding for Lending scheme

 

Our tax system is a chain around the economy’s ankles

 

 

 

 

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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Stock Exchanges Prepare to Open

 

By SUSANNE CRAIG 9 minutes ago

 

The New York Stock Exchange and Nasdaq will open as usual Wednesday following an unprecedented storm that flooded many parts of Manhattan and prompted widespread power outages.

 

dbpix-nyse-sandbags-sfSpan.jpg

Carlo Allegri/Reuters

 

The New York Stock Exchange remained closed on Tuesday.

 

 

 

DealBook

 

dbpix-ubs-zurich-thumbStandard.jpg

UBS to Cut 10,000 Jobs in Major Overhaul

 

By MARK SCOTT 1:47 PM ET

 

The Swiss bank planned a restructuring of its investment banking division as the firm reported a $2.3 billion loss.

 

Media Decoder Blog

 

Disney Buying Lucas Films for $4 Billion

 

By MICHAEL CIEPLY 11 minutes ago

 

The acquisition gives the company a commanding position in the world of fantasy film.

 

Ford Sees Little Change in Net Income

 

By BILL VLASIC

 

Heavy losses in Europe continued to undercut Ford Motor Company’s strong performance in the North American market.

 

Fiat Turns to High-End Production

 

By JACK EWING 3:21 PM ET

 

Distancing itself from its rivals, the automaker said it would not close any of its underused European factories and would instead use them to build more high-margin models.

 

 

BP Returns to Profitability and Raises Dividend

 

By STANLEY REED

 

The oil giant posted earnings of $5.4 billion for the third quarter, after a loss in the second quarter, and said it would increase its dividend by 14.4 percent.

 

Home Prices Rose 2% in August as Sector Continued to Mend

 

By REUTERS 20 minutes ago

 

Prices rose in all but one of the 20 cities measured in the Standard & Poor’s Case-Shiller index, while some of the weaker markets, like Phoenix and Miami, have been seeing sustained price rises.

 

Wrangling Over Europe’s Budget Gets Under Way

 

By JAMES KANTER 58 minutes ago

 

Hostilities are likely to be protracted as countries like Britain and Sweden call for deep cuts in the European Commission's proposed spending plan.

 

Euro Watch

 

Data Show Weakening in Euro Zone Economy

 

By DAVID JOLLY and MELISSA EDDY 58 minutes ago

 

The Spanish economy continued to shrink in the third quarter, and Germany’s unemployment rate rose for the first time in three years. The reports come as leaders are to debate further aid to Greece.

 

 

Bank of Japan Announces Fresh Economic Stimulus

 

By HIROKO TABUCHI

 

Nearly $140 billion worth of asset-buying, plus cheap loans for banks, is intended to shore up the economy, which has been hit by a drop in exports and a decline in industrial output.

 

 

Bits Blog: Hurricane Sandy Knocks Out Gawker and Other News 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.

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Personal Income And Spending: Meh

From the BEA this morning:

Personal income increased $48.1 billion, or 0.4 percent, and disposable personal income (DPI) increased $43.0 billion, or 0.4 percent, in September, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $87.9 billion, or 0.8 percent. In August, personal income increased $17.8 billion, or 0.1 percent, DPI increased $15.1 billion, or 0.1 percent, and PCE increased $59.9 billion, or 0.5 percent, based on revised estimates.

The goofbox is crowing about this being a "great number" -- is it?

Real disposable income decreased less than 0.1 percent in September, compared with a decrease of 0.3 percent in August.

Wait -- decreased? Is that good when people have their purchasing power damaged?

Let's look at the detail.

 

More at the link.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Breaking news

 

 

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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New City jobs 'rise 10% in October'

 

31 October 2012 12:21 PM

The number of jobs created in the City of London increased by 10% in the past month, according to a new study.

 

 

 

Investment-insider-EPA.jpg

Ryanair to create 1,000 UK jobs as it opens new routes

 

31 October 2012 11:48 AM

Low-cost airline Ryanair is to create 1,000 UK jobs next year by flying one million more passengers on a number of new routes.

 

 

 

Superstorm Sandy may cost States up to $50bn as stock exchange stays shut

 

31 October 2012 12:00 AM

First time bad weather has shut NY market for two consecutive days since 1888

 

 

 

Travelodge to create 200 new jobs

 

31 October 2012 12:13 PM

Budget hotel chain Travelodge is to create almost 200 jobs before Christmas by opening nine new hotels.

 

 

 

delaware.jpg

Oil prices rise on Superstorm Sandy threat

 

31 October 2012 11:11 AM

Oil prices rose today after a Superstorm Sandy caused havoc across the north-eastern US and threatened to inflict more damage inland.

 

 

 

Trader who lost £1.4bn 'told to push boundaries'

 

31 October 2012 12:00 AM

An alleged rogue trader accused of gambling away £1.4bn was urged to "push the boundaries" by his bosses, a jury heard yesterday.

 

 

 

Tesco Bank latest lender to sign up for Funding for Lending

 

31 October 2012 12:00 AM

Tesco Bank has become the latest lender to take advantage of the Bank of England's £80bn Funding for Lending scheme.

 

 

 

30StanChart in bid to settle with US over Iran

 

31 October 2012 12:00 AM

Standard Chartered is hopeful it will reach a final settlement with US regulators over breaches of sanctions against Iran that cost it $340m (£212m) earlier this year with New York's Department of Financial Services.

 

 

 

Japan brings out the Branston with £93m buy from Premier

 

31 October 2012 12:00 AM

Premier Foods is to sell its sweet pickles and sauces business, including its nearly 200-year-old Branston brand, to a Japanese company for £93m as part of its strategy to offload units to reduce its £1bn-plus debt mountain.

 

 

 

Fiat sees European profits stalling

 

31 October 2012 12:00 AM

Fiat, the Italian car maker, underlined the dire conditions facing motor manufacturers yesterday as it warned its European profits could be a third lower in 2013 and 2014 than it had hoped for.

 

 

 

Stagecoach's rail revenues leap

 

31 October 2012 12:00 AM

The Government's rail franchising shambles may be dragging on, but back at the tracks Stagecoach yesterday enjoyed an 8 per cent rise in revenues at its rail division, which includes South West Trains, in the four months to October.

 

 

 

Imperial Tobacco puffs up the divi

 

31 October 2012 12:00 AM

Imperial Tobacco, the world's fourth-largest tobacco group, cheered investors yesterday with an 11 per cent dividend hike to a mighty 105.6p a share.

 

 

 

Insolvencies drop to a four-year low

 

31 October 2012 12:00 AM

The number of Britons who were declared insolvent fell to its lowest since the start of the recession in 2008 during the last quarter, in the latest sign of an improving economy in the UK.

 

 

 

Spurs owner tightens his grip on DCD Media with shake-up

 

31 October 2012 12:00 AM

The billionaire tycoon and Tottenham Hotspur owner Joe Lewis yesterday expanded his reach into TV and film production as he shook up the board of DCD Media.

 

 

 

Lonmin rallies on $800m cash-raising plan

 

31 October 2012 12:00 AM

Lonmin has unveiled plans to raise $800m (£498m) in a rights issue and to change the terms of its debt facilities.

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

Spain clears Popular, Ibercaja capitalisation plans

 

Spain 8:06pm GMT

 

Uncertain UK outlook limiting impact of lower yields - BoE's Bean

 

7:29pm GMT

 

More small banks would make UK financial system safer - BoE's Bean

 

7:29pm GMT

 

PVH unites Calvin Klein lines in $2.8 billion deal

 

7:06pm GMT

 

Ireland's eircom hikes job cuts to 2,000 over 18 months

 

7:03pm GMT

 

GM sees European operations breaking even by mid-decade

 

6:56pm GMT

 

Thomson Reuters investigates foreign exchange client

 

6:53pm GMT

 

China sovereign fund takes 10 percent of Heathrow

 

Spain 6:34pm GMT

 

Sudan police fire teargas to disperse farm region protest

 

6:31pm GMT

 

Fiat may start Italy car plant investments in coming weeks

 

6:31pm GMT

 

Glencore offers to end Nyrstar deal to land Xstrata - source

 

6:16pm GMT

 

Exclusive - Perfume-makers fear EU legal blow to industry

 

6:11pm GMT

 

Global funds build up U.S. equity, euro bonds in October - Reuters poll

 

6:08pm GMT

 

Barclays hit by fresh U.S. investigations | btn_rel_video.gif

 

5:44pm GMT

 

Barclays CEO juggles client grab with cost cuts

 

5:44pm GMT

 

Shares down on bleak outlook and earnings reports

 

FXpert 5:38pm GMT

 

OPEC output rises, offsets more Iran shrinkage - survey

 

5:11pm GMT

 

Rosneft has no obligation to TNK-BP minorities - Sechin

 

4:55pm GMT

 

At Chesapeake Energy it's time to show, not tell

 

4:48pm GMT

 

Aviva Investors eyes infrastructure business growth

 

4:07pm GMT

 

Progress in euro zone talks on Greece, no deal yet

 

4:46pm GMT

 

Fiat to axe 19 to comply with order to re-hire sacked staff

 

3:06pm GMT

 

Schaeuble says troika work in Greece far from done

 

3:01pm GMT

 

GM targets $500 million in cost savings, job cuts in Europe

 

2:59pm GMT

 

Branson says to invest around $1 billion in Russia-focused businesses

 

2:49pm GMT

 

Euro zone aims for Greek bailout deal Nov 12, if Athens complies

 

2:48pm GMT

 

GSK sales fall short as pain in Europe continues

 

2:42pm GMT

 

Schaeuble says "considerable progress" on Greece

 

2:40pm GMT

 

BG warns no output growth next year, shares tumble

 

2:24pm GMT

 

ECB says covered bond programme ended, can be reopened

 

2:14pm GMT

 

JPMorgan sues former London Whale boss

 

UK 5:02pm GMT

 

GM says 12,600 white-collar retirees to take lump-sum buyouts

 

1:50pm GMT

 

ICAP promises to "raise the bar" on listings

 

UK, 1:26pm GMT

 

Rosneft has no obligation to TNK-BP minorities - Sechin

 

1:21pm GMT

 

Hedge funds swoop on Falklands oil search

 

1:07pm GMT

 

Euro zone inflation eases, unemployment at new highs

 

12:59pm GMT

 

GSK sales fall 8 percent, hit by weak Europe and vaccines

 

12:42pm GMT

 

Exclusive: Glencore offers to end Nyrstar deal in Xstrata bid - source

 

12:25pm GMT

 

Greek recession seen ending in 2014-mid term plan

 

12:14pm GMT

 

BG warns no output growth next year, shares tumble

 

12:13pm GMT

 

News Corp seals 1.3 billion pounds Australia pay-TV deal

 

Australia 11:54am GMT

 

Banks may quit UK if forced to separate - ICB author

 

UK, 5:37pm GMT

 

ArcelorMittal cuts dividend after tumbling to loss

 

11:29am GMT

 

Polish, Czech PMIs point to more weakness

 

10:58am GMT

 

Banks tighten euro loan standards, see more coming - ECB

 

10:58am GMT

 

Spain's Rajoy does not see urgent bailout need - government source

 

10:58am GMT

 

St James's Place wins market share as rivals pull back

 

10:20am GMT

 

Panasonic cleans house with writedowns, sees $9.6 billion loss

 

10:19am GMT

 

Italy September jobless rate rises to 10.8 percent, highest since series began in 2004

 

9:22am GMT

 

BG sees no production growth in 2013

 

9:11am GMT

 

Banks tighten euro zone loan standards, see more coming - ECB

 

9:04am GMT

 

Greek 2013 budget aims for 0.4 percent primary surplus - source

 

9:00am GMT

 

Troika not discussing now a Greek "haircut" - Eurogroup's Wieser

 

9:00am GMT

 

Barclays takes action on staff after Libor probe

 

8:54am GMT

 

French consumer spending inches up in September

 

8:46am GMT

 

Standard Life sales fall on weaker pension business

 

8:21am GMT

 

Strong refining margins boost Total third quarter

 

8:06am GMT

 

Internal fraud delays Next Fifteen results

 

8:04am GMT

 

French consumer spending inches up in September

 

7:58am GMT

 

Lufthansa steps up cost cuts as economy worsens

 

Aerospace & Defence 7:56am GMT

 

Next edges up guidance as sales recover

 

7:37am GMT

 

October consumer morale drops to lowest in six months - GfK

 

UK 7:32am GMT

 

St James's place sales accelerate towards year-end

 

7:30am GMT

 

Bumi says lower prices hit, Bumi Resources under review

 

7:23am GMT

 

SNB makes nine-month profit on currency gains

 

7:21am GMT

 

German retail sales jump more than forecast in September

 

7:18am GMT

 

ECB's Coeure - must be mindful of balance sheet risks

 

7:17am GMT

 

Analysis - Investment sponges for a growth-saturated world

 

8:01pm GMT

 

Panasonic cleans house with writedowns, sees $9.6 billion loss

 

8:53am GMT

 

SNB posts nine-month profit helped FX gains

 

6:34am GMT

 

Shares falter, gasoline rises after storm's damage

 

FXpert 7:57pm GMT

 

China's big banks set for slowest annual profit growth since IPO

 

6:18am GMT

 

China funds slightly cut equity holdings ahead of Party Congress - poll

 

6:18am GMT

 

ECB's Coeure: risks to price stability balanced in euro area

 

5:37am GMT

 

Noble, Posco group says dropping $1.2 billion bid for Australia's Arrium

 

5:27am GMT

 

Disney to buy "Star Wars" producer for $4.05 billion

 

Entertainment 3:53am GMT

 

Disney's $4 billion Lucasfilm deal began with lightsabers in Orlando

 

Entertainment 2:25am GMT

 

Barclays looks to move on from Libor scandal

 

12:15am GMT

 

AstraZeneca deepens collaboration with academia

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

31 October 2012 Last updated at 19:43

 

 

Heseltine issues growth challenge_63815562_lordheseltine.jpg

 

Lord Heseltine recommends ending a century of centralisation and moving growth funds nearer to industry in his report into boosting UK growth. 508

 

 

_63821994_015728225-1.jpgBarclays in new regulatory probes

 

UK bank Barclays says that it is the subject of two new regulatory probes after a series of scandals and announces it made a loss in the third quarter.

 

 

 

_63841772_63841764.jpgRedundancies at London taxi firm

 

Some 156 staff are to go from London taxi firm Manganese Bronze, just a day after administrators said there was interest from potential investors.

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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[/url]

 

Debt crisis: Government narrowly loses vote on EU budget

 

cameron-eu_2381663g.jpg

Conservative MPs have rebelled against Prime Minister David Cameron and voted to back demands for a reduction in EU spending.

790 Comments

Austerity will raise UK's debt burden - Niesr

 

 

 

 

Greek death spiral raises heat for creditors

 

greece_2385080g.jpg

Greece’s debt-load is rising much faster than expected as the country spirals into a sixth year of depression, ratcheting up the pressure on Germany and Europe’s creditor states to accept debt-forgiveness for the first time.

Comment

Eurozone unemployment rises to record 11.6pc

 

 

Greek prime minister warns back deal or risk euro exit

 

 

 

BoE's Charlie Bean signals no more QE

 

notes_2385026g.jpg

The prospect of more money printing has receded after Charlie Bean, the Bank of England’s deputy governor, revealed he had doubts about how much growth the policy would deliver.

15 Comments

 

Break up banks if ring-fence fails, says Taylor

 

CanaryWharftotalow_2223825g.jpg

Britain's lenders will have to be broken up if the ring-fence to protect their retail banking operations from “casino” investment banking proves to be “permeable”, warned Martin Taylor, one of the policy’s architects .

9 Comments

 

Barclays warns of US fine and fresh probes

 

barclays_2204767g.jpg

Barclays revealed on Wednesday it was facing a possible fine in the US relating to electricity trading and that it was being investigated by the US Department for Justice and US Securities and Exchange Commission.

29 Comments

 

BG Group sees £6bn wiped off its value

 

BG Group suffers the biggest one-day share price fall in its history after warning that it would see no growth in oil and gas production next year.

Comment

BG Group's lesson for BP investors

 

 

 

Jobs go at black cab maker Manganese Bronze

 

 

 

 

General Motors cuts 2,600 jobs in Europe

 

 

 

 

Argentina told to seize $19.2bn from Chevron

 

 

 

 

GSK to review European operations amid sales fall

 

Debt crisis: EU budget debate - Live

 

PMQs__Cameron_face_2384266g.jpg

Speaking in the Commons today, the PM reiterated his stance that he will veto any EU budget deal if he is not satisfied with the outcome, which is at best cut, at worst frozen.

790 Comments

 

Austerity will raise UK's debt burden - Niesr

 

 

 

 

Lord Heseltine review remains too much politics and not enough business

 

 

 

 

Eurozone unemployment rises to record 11.6pc

 

The German bloc will have to take its bitter medicine in Greece

 

Heseltine review remains too much politics and not enough business

 

Our tax system is a chain around the economy’s ankles

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

Stocks Little Changed as Market Reopens

 

By MICHAEL J. DE LA MERCED 59 minutes ago

 

While New York’s mayor and a bevy of TV news crews and tourists were at the New York Stock Exchange for the opening bell, the trading floor betrayed little that was unusual.

 

31wallstreet-sfSpan.jpg

Robert Caplin for The New York Times

 

After a historic two-day closing, Mayor Michael R. Bloomberg rang the opening bell at the New York Stock Exchange to reopen trading on Wall Street on Wednesday.

 

 

 

F.C.C. Describes 911 and Cellphone Problems

 

By EDWARD WYATT 1:11 PM ET

 

Many of the wireless transmission towers knocked out by Hurricane Sandy are not expected back online for several days, the Federal Communications Commission said.

 

 

 

 

For Builders, the Storm Is Good for Business

 

By CATHERINE RAMPELL and SHAILA DEWAN 34 minutes ago

 

Hurricane damage will help construction companies and the workers they plan to hire, many of whom have been idled and ailing from the housing bust for nearly half a decade.

 

 

 

 

 

 

G.M. Earnings, Like Its Rivals, Are Hurt by Europe

 

By BILL VLASIC

 

The nation’s largest automaker said its third-quarter earnings fell 14 percent on larger losses in Europe and less profitable operations in North America.

 

 

DealBook

 

JPMorgan Sues Boss of Trader Who Lost Billions

 

By JESSICA SILVER-GREENBERG 1:49 PM ET

 

Javier Martin-Artajo supervised Bruno Iksil, the so-called “London Whale” whose outsize positions prompted a $6.2 billion loss.

 

DealBook

 

Facing Fresh Legal Woes, Barclays Swings to a Loss

 

By MARK SCOTT 10:18 AM ET

 

The British bank Barclays faces more legal trouble after disclosing two new investigations by American authorities, clouding already weak third-quarter results.

 

DealBook

 

PVH to Buy Warnaco Group for $2.9 Billion

 

By MARK SCOTT 1:13 PM ET

 

The fashion company PVH Corporation agreed on Wednesday to acquire the Warnaco Group in a $2.9 billion deal, bringing various Calvin Klein brands under one corporate umbrella.

 

Euro Zone Unemployment Hit New High in September

 

By DAVID JOLLY

 

The jobless rate ticked up to 11.6 percent from the 11.5 percent in August, as 146,000 more people were classified as unemployed, data showed on Wednesday.

 

 

Media Decoder Blog

 

lucas-decoder-thumbStandard.jpg

Disney Buying Lucasfilm for $4 Billion

 

By MICHAEL CIEPLY

 

Through the acquisition, which gives Disney a commanding position in the world of fantasy films, the company said that it would revive the “Star Wars” franchise.

 

 

HEDGE-thumbStandard.jpg

After Weak Returns, the Endowment Fund Limits Withdrawals

 

By JULIE CRESWELL

 

A move to curtail withdrawals from the $3.3 billion Endowment Fund is a setback for the investor Mark Yusko.

 

 

 

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

Look, Broken Windows! Cool!

 

Amazing, really.

The screaming about how Sandy will wind up being a "net positive" for the economy is nothing more than a rehash of the old, tired and long-disproved "broken-window" fallacy.

That's the premise that when one has a terrible thing happen the repair costs are additive to GDP but ignores the costs that were imposed in the first place, such as the destruction of wealth embodied into those windows.

This sort of nonsense is common and often used as justification for both natural disasters and even wars, since war tends to trash infrastructure, and people point to the usual ramp job in the economy that happens when war ends as justification.

Bah.

When war is "good" economically that change occurs due primarily due to the death of large swaths of the working population! This reduces competition for jobs which in turn tends to drive up wages. In other words it shifts the supply/demand curve on labor; if there was a lot of slack in the labor market prior to the war (e.g. WWII) this can provide a boost as all those unemployed people are now dead.

 

The good old broken window fallacy.

 

Short term boost which won't be sustainable.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

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

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