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The great intrest rate rip off part 7


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6,500 jobs under threat as Comet goes into administration

 

01 November 2012 12:44 PM

Around 6,500 retail jobs were under threat today as electricals chain Comet became the latest casualty on the high street.

 

 

Barclays struggles to escape Diamond's shadow

 

01 November 2012 12:00 AM

Two fresh inquiries into conduct are set to spark further fines, while third-quarter profits have been knocked by PPI mis-selling charge

 

 

 

black-cab.jpg

Workers at Coventry-based black cab manufacturer Manganese Bronze in talks with bosses as firm announces 156 redundancies

 

01 November 2012 11:28 AM

Workers at the troubled maker of London black cabs have secured talks with company bosses following a sit-in protest after being told of job losses.

 

 

 

Manufacturing sector shrinks again

 

01 November 2012 10:29 AM

The manufacturing sector contracted for the sixth month in a row last month as new exports fell and cost pressures rose, a closely watched survey said today.

 

 

 

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Lloyds PPI bill passes £5bn mark

 

01 November 2012 08:31 AM

The bill for mis-sold payment protection insurance (PPI) at taxpayer-backed Lloyds Banking Group smashed through the £5 billion barrier today as claims against the bank continue to pile up.

 

 

 

Oil prices rise as US refineries restart after Hurricane Sandy

 

01 November 2012 01:14 PM

The restart of refineries in the storm-hit northeastern United States gave a small boost to crude oil prices on Thursday.

 

 

 

Portugal approves austerity budget

 

01 November 2012 12:00 AM

The new tax hikes would hit Portugal's cash-strapped population in every area

 

 

 

City backs push to revive Britain's clothing industry

 

01 November 2012 12:00 AM

A new report claims UK clothing manufacturing is again commercially viable and calls on the UK's retailers to reduce the amount imported from abroad.

 

 

 

CBI gloomy on growth outlook for economy

 

01 November 2012 12:00 AM

The economy will struggle to register any growth in the fourth quarter of 2012, according to the CBI.

 

 

 

Next's Wolfson cautious in spite of recent spike in sales

 

01 November 2012 12:00 AM

Lord Wolfson, the chief executive of Next, struck a cautious note on consumer spending ahead of the crucial festive-trading period yesterday, despite the fashion retailer's robust, third-quarter trading.

 

 

 

Thousands fear losing their job as Comet faces collapse

 

01 November 2012 08:14 AM

Thousands of jobs are at risk as Comet, the 240-store electricals retailer, is poised to appoint an accountancy firm as administrator just nine months after the UK chain was bought for a token £2.

 

 

 

Panel hears why firewalls are better than total split

 

01 November 2012 12:00 AM

Banks could quit Britain if they were ordered to split their retail and investment banking operations, a former chief executive of Barclays warned yesterday. Martin Taylor, who was also on Sir John Vickers' Independent Commission on Banking, said its recommendation of ring-fencing retail banks should prove easier to supervise.

 

 

 

BG Group shares sink 14 per cent as output forecast gives causes for alarm

 

01 November 2012 12:00 AM

Shares in BG Group fell by 14 per cent to hit a two-year low yesterday after the gas producer that was spun out of British Gas admitted that its 2013 production forecasts were wrong and told the City not to expect any growth next year.

 

 

 

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Knock-knock. Who's there? You're fired

 

01 November 2012 12:00 AM

If there's one thing worse than losing your job, it's discovering you've lost your job when your security pass won't get you into your building, which is now guarded by beefy security guards who don't compute "empathy". It's the workplace equivalent of getting home to find the locks changed and your stuff on the pavement in bin bags.

 

 

 

More time for Britvic/AG Barr merger talks

 

01 November 2012 12:00 AM

Britvic and AG Barr have been given a second extension by the Takeover Panel to decide on their £1.4bn merger.

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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Hedge fund cashes in on Greek bonds

 

7:23pm GMT

 

Asian factories perk up, U.S. shows improvement

 

7:14pm GMT

 

Oil companies struggle to increase output

 

7:11pm GMT

 

Court in UK tells Apple to change statement on Samsung case

 

7:10pm GMT

 

Golar re-writes the LNG game with floating plant

 

Norway 6:51pm GMT

 

Data for 2011 shows critics of UK utilities' profits wrong - RWE

 

UK, 6:24pm GMT

 

Hedge fund Edoma Partners to close

 

6:00pm GMT

 

Mis-sold loan insurance costs Lloyds another £1 billion | btn_rel_video.gif

 

UK 5:25pm GMT

 

Shares open November with biggest gain in a month

 

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Merkel says veto threats don't help EU budget debate

 

5:07pm GMT

 

Bahrain's Arcapita pulls London unit share sale

 

Bahrain 4:59pm GMT

 

ArcelorMittal South Africa shuts furnaces, cuts output

 

4:25pm GMT

 

Arqiva kicks off 3.4 billion pound debt refinancing - bankers

 

4:17pm GMT

 

Centamin could face new legal challenge in Egypt

 

4:14pm GMT

 

PVH unites Calvin Klein lines in $2.8 billion deal

 

4:08pm GMT

 

CoCos seen as acquired taste as Barclays opens door

 

4:06pm GMT

 

Ford sets succession plan, Mulally staying through 2014

 

Aerospace & Defence 3:59pm GMT

 

Proto hits back at Italy market regulator over RCS

 

3:18pm GMT

 

Analysis - Time for low-growth Finland to rein in austerity

 

3:16pm GMT

 

Murdoch re-elected to BSkyB board as profit climbs

 

3:09pm GMT

 

Financing issues main obstacle on Greek talks - IMF

 

IMF 3:09pm GMT

 

U.S. data points to slow healing in labour market

 

4:30pm GMT

 

BSkyB posts strong first-quarter earnings

 

Tennis, 2:31pm GMT

 

Rosneft racks up cash ahead of 34 billion pounds TNK-BP deal

 

2:25pm GMT

 

Refining underpins Shell third-quarter as output stalls

 

2:24pm GMT

 

Shell says hydrocarbons released at Deer Park, Texas site

 

2:24pm GMT

 

Pound poised for new rally if BoE holds fire on QE

 

2:11pm GMT

 

S&N tackles tough European trading with cost cuts

 

1:52pm GMT

 

Eutelsat signs deal to expand digital satellite in Russia

 

1:11pm GMT

 

Chrysler says October car sales best in five years

 

12:10pm GMT

 

Cost cuts help BT protect earnings outlook

 

12:01pm GMT

 

UBS closes London-based distressed debt desk

 

UK 11:48am GMT

 

Tax haven property markets thrive as political scrutiny grows

 

David Cameron, G20 5:43pm GMT

 

S&N tackles tough European trading with cost cuts

 

11:34am GMT

 

Glencore's "strong" trading helps offset mine setbacks

 

11:28am GMT

 

Rosneft's $5.8 billion third-quarter net profit beats forecasts

 

11:20am GMT

 

Rosneft pips Novatek for huge gas deal with Inter RAO

 

11:20am GMT

 

Manufacturing downturn highlights recovery risks

 

11:15am GMT

 

Shell expects to lift Nigerian force majeure soon

 

10:39am GMT

 

Spain extends short-selling ban for three months

 

Spain 10:38am GMT

 

Telenor opens door to selling Vimpelcom stake

 

Norway 10:31am GMT

 

EU's insurer capital rules need rethink - L&G

 

10:21am GMT

 

BSkyB posts strong first-quarter earnings

 

Tennis, UK 10:15am GMT

 

Instant View - UK October manufacturing PMI falls more than forecast

 

10:09am GMT

 

Shell says Q4 Nigerian oil output loss may rise

 

10:01am GMT

 

Shell nearly there on Pearl, Port Arthur restart early 2013

 

9:36am GMT

 

Shell CFO says weak Europe economy "all around us"

 

9:23am GMT

 

Rosneft signs $80 billion gas deal with Inter RAO - source

 

9:18am GMT

 

Cookson finals split plans with activist shareholder backing

 

8:59am GMT

 

Spanish bad bank faces struggle to lure property investors

 

Spain 8:45am GMT

 

Spain extends short-selling ban for three months

 

Spain 8:45am GMT

 

BP commits to Libyan exploration campaign

 

8:38am GMT

 

Sharp fears for future as Japan TV makers bleed

 

Japan 11:41am GMT

 

Hunting confident on 2012 despite rising competition

 

8:11am GMT

 

Cookson to split into two, gets blessing from activist shareholder

 

8:08am GMT

 

BT cuts full-year revenue outlook

 

7:56am GMT

 

House prices up 0.6 percent in October, outlook tough - Nationwide

 

UK, 7:50am GMT

 

Rosneft signs $80 billion 25-year gas deal with Inter RAO - source

 

7:44am GMT

 

Insurer L&G gets protection sales boost

 

7:31am GMT

 

U.S. power market watchdog seeks record $470 million from Barclays | btn_rel_video.gif

 

12:00pm GMT

 

Talisman deal with Sinopec to be sealed by year-end

 

7:17am GMT

 

Irish manufacturing activity grows for eighth month-PMI

 

6:58am GMT

 

Fiat may start Italy car plant investments in coming weeks

 

6:51am GMT

 

Fiat will start investments at Melfi plant by end-2012 - press

 

6:48am GMT

 

Sony posts small quarterly profit, keeps full-year forecast

 

Japan 6:44am GMT

 

Sony says 30 billion yen impact on China sales from protests, economy

 

Japan 6:44am GMT

 

Global stocks up on China, US data; oil off after storm

 

FXpert, 4:41pm GMT

 

Toyota China sales tumble in October, hit by islands row

 

Japan 6:14am GMT

 

Twin China PMI surveys show economy perking up | btn_rel_video.gif

 

7:26am GMT

 

Hyundai Motor posts record October sales, but shares fall on recall talk

 

5:35am GMT

 

Asian factories show signs of slow recovery

 

9:43am GMT

 

Australia's Whitehaven Coal wins vote in fight with tycoon

 

5:10am GMT

 

China's CIC wealth fund unit buys Heathrow stake - Xinhua

 

3:52am GMT

 

In echo of Enron, Barclays traders plotted to rig power market

 

3:43am GMT

 

Tycoon loses bid to vote out Whitehaven board

 

2:15am GMT

 

China HSBC final PMI at eight-month high of 49.5 in October

 

1:58am GMT

 

Visa, MasterCard profits rise with card use

 

12:53am GMT

 

Apple's Cook fields his A-team before a wary Street

 

12:37am GMT

 

UK business lobby sees flat economy in 2012

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

Little Federal Help for the Long-Term Unemployed

 

By ANNIE LOWREY and CATHERINE RAMPELL 10:48 AM ET

 

 

Policy makers are being urged to address long-term unemployment before those looking for work decide to give up trying for good.

 

 

 

 

02unemployed-sfSpan.jpg

Kenneth James for The New York Times

 

Beatrice Hogg, 55, a college-educated white-collar worker, lost her last job in June 2009. She has been staying at friends’ homes.

 

 

 

 

 

 

02tax-thumbStandard.jpg

Nonpartisan Tax Report Withdrawn After G.O.P. Protest

 

By JONATHAN WEISMAN 12:54 PM ET

 

The Congressional Research Service’s decision to withdraw the report, made in late September against the advice of the agency’s economic team, drew almost no notice until now.

 

Retailers Report an Upbeat October

 

By STEPHANIE CLIFFORD 10:28 AM ET

 

Sales were dragged down by drugstores and teenage-apparel stores, but largely better than analysts had expected. Most of the storm’s effects were not reflected.

 

Earnings at Oil Giants Helped by Refining

 

By CLIFFORD KRAUSS 1:00 PM ET

 

Exxon Mobil and Royal Dutch Shell reported lackluster third-quarter earnings because of declining oil and natural gas production and weak domestic gas prices, but refinery operations were strong.

 

Car and Truck Sales for October Rose, Despite Storm

 

By BILL VLASIC 1:25 PM ET

 

Car and truck sales rose 10 percent despite Hurricane Sandy, which washed out three days of business on the East Coast.

 

 

Wall Street Shares Climb

 

By REUTERS 1:04 PM ET

 

Two positive labor reports helped lift stocks by about 1 percent.

 

AIR-thumbStandard.jpg

Airlines Begin a Laborious Comeback

 

By ROBBIE BROWN and CHRISTOPHER DREW

 

Airlines are struggling to get flight crews and support personnel back in place for travelers who were unlucky enough to be heading home during Hurricane Sandy.

 

 

SUB-INSURE-thumbStandard.jpg

Governors Promote Lower Deductibles for Homeowners

 

By MARY WILLIAMS WALSH and SHAILA DEWAN

 

Homeowners who suffered wind and storm damage this week will get financial relief from rulings that insurers must treat Sandy as a tropical storm and not a hurricane.

 

 

JP-APPLE-1-thumbStandard.jpg

Apple Shake-Up Could Lead to Design Shift

 

By NICK WINGFIELD and NICK BILTON

 

A decision to fire Scott Forstall, the leader of mobile software development, means the departure of a high-ranking proponent of the visual design style for software favored by Steve Jobs.

 

 

Changing of the Guard

 

sub-jpemigrate-thumbStandard.jpg

Wary of Future, Professionals Leave China in Record Numbers

 

By IAN JOHNSON

 

Although China’s economic boom has created millions of well-paying jobs, its skilled workers are moving elsewhere, in search of better quality of life, and religious and political freedoms.

 

 

 

 

 

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]

 

Comet becomes most high-profile retail casualty since credit crisis

 

Comet-Store_1807399g.jpg

Electrical retailer Comet is to be placed into administration next week, putting 6,000 jobs at risk and becoming the most high-profile casualty on Britain's embattled High Street since the financial crisis in 2008.

131 Comments

'Spend your Comet gift vouchers now'

 

 

Retailers that have collapsed in 2012: in pictures

 

 

 

 

Banking industry PPI bill tops £11bn

 

RBS_2210306g.jpg

Britain's taxpayer-backed lenders are set to pay out at least £7bn to customers who were mis-sold payment protection insurance - with the total bill for the banking industry topping £11bn.

1 Comment

RBS 'to set aside extra £400m for PPI'

 

 

Lloyds' PPI bill rises by £1bn to more than £5bn

 

 

How to claim back mis-sold PPI

 

 

 

'Toxic' James Murdoch avoids BSkyB revolt

 

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James Murdoch has held on to his position on the BSkyB board, despite being told at the company’s annual general meeting that his name was “toxic to shareholders”.

6 Comments

BSkyB profit beats analyst estimates

 

 

 

Barclays 'strongly disagrees' with energy fine

 

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Barclays has hit back at a US regulator’s decision to fine it $470m (£293m) for allegedly rigging the American electricity market, saying it “strongly disagreed” with the penalty.

3 Comments

 

UK manufacturing declines for sixth month

 

car_2386120g.jpg

The UK manufacturing sector’s downturn accelerated at the start of the fourth quarter, as the sector was hit by declining export sales and weaker domestic sales, according to official PMI figures.

9 Comments

Greek cuts to pensions and salaries 'unconstitutional'

 

 

Debt crisis: as it happened - November 1, 2012

 

 

 

Shell profits drop 15pc on lower oil prices

 

 

 

 

BT shares jump as cost cutting boost profits

 

 

 

 

CBI raises UK growth forecasts

 

Greek cuts to pensions and salaries 'unconstitutional'

 

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Cuts in pensions and salaries for state employees that the Greek government has planned to unlock critical bailout funds have been ruled unconstitutional by a court, the semi-official ANA news agency reported.

1 Comment

 

Debt crisis: as it happened - November 1, 2012

 

 

 

 

UK manufacturing declines for sixth month

 

 

 

 

UK manufacturing declines for sixth month

 

Don't cry for me, François

 

Rising mis-selling bill a shadow over Lloyds turnaround

 

The euro is heading for a permanent state of depression

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

1 November 2012 Last updated at 19:23

 

 

Comet to go into administration_63848404_m6w82iyg.jpg

 

The Comet retail chain is going into administration after private equity firm OpCapita failed to revive the business.

 

 

_63851434_2aftqe24.jpgLloyds PPI bill up another £1bn

 

Lloyds Banking Group sets aside a further £1bn to pay for the cost of compensating customers who were mis-sold payment protection insurance.

 

 

 

_63849838_015728225-1.jpgBarclays faces $470m energy fine

 

Barclays is threatened with fines of $470m (£291m) by US regulators to settle accusations it sought to manipulate the California energy markets from 2006-2008.

 

 

 

 

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

No, Really? (QE Disincents Investment)

 

Whadda 'ya mean it didn't work?

“All of the money being created and freed up is elevating asset prices, but those prices are not causing corporations to invest in future production,” Gross wrote in a monthly investment outlook posted on the Newport Beach, California-based company’s website today. Lower interest rates are being used“to consume as opposed to invest,” he said.

You just figured this out Bill?

That's a joke, right? It has to be a joke.

It's not "money" that has been created, it's credit.

 

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

Bloomberg Once Again Blows Bernanke

Do they not get it or do they think we all failed grade-school arithmetic?

argued for 15 years that the Federal Reserve should announce a numerical inflation target. When he finally got his way in January, the victory allowed the central bank to elevate its other mandate: full employment.

...

Bernanke’s shift to emphasizing employment goals is one of the hallmarks in a grueling two-term chairmanship that spanned the worst financial crisis and recession since the Great Depression and a slow labor-market recovery that pinned joblessness
above 8 percent
for 43 months. The presidential campaign has put the Fed in transition as Republican candidate Mitt Romney said he’d replace Bernanke, though former colleagues doubt he will stay on, no matter who wins.

And on both counts the "mandate" has been failed.

Intentionally so, I might add.

The Fed Mandate is for stable prices, not 2% inflation. Need I remind everyone that a 2% inflation target, if met over a 45 year working life (age 20 - 65) results in a price increase of 144%?

 

Stable inflation is beneficial if you have debt and you have wage inflation along with price inflation. The trouble is your unlikely to have stable inflation.

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

ADP: +158k

And here it is from ADP!

ROSELAND, N.J. – November 1, 2012 – Private sector employment increased by 158,000 jobs from September to October, according to the October ADP National Employment Report®, which is produced by Automatic Data Processing, Inc. (ADP®), a leading provider of human capital management solutions, in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures
takes a guess at
the change in total nonfarm private employment each month on a seasonally-adjusted basis.

That was good for a couple of points on the futures; after the "reported" revision to last month under the new ADP methodology it should not be surprising that this is seen as a "beat" off expectations.

One interesting metric in this report is that the claim is made that large businesses added a majority of the new jobs. This was surrprising, but what's not is that nearly all of them were service-sector.

 

More at the link.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Breaking news

 

 

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

'Autocratic management' at Bank of England under fire

 

02 November 2012 12:00 AM

Staff only willing to tell them what they wanted to hear, says governance review

 

 

 

SirPaulSmith.jpg

Government urged to back British clothing manufacture

 

02 November 2012 06:03 PM

Designers and retailers have called on government to help promote clothing manufacturing in Britain.

 

 

 

Building sector returns to growth

 

02 November 2012 10:33 AM

The construction sector returned to growth last month, a survey said today, although housebuilders and commercial developers continue to weigh heavily on the industry.

 

 

 

RBS announces further £450 hit

 

02 November 2012 10:10 AM

Taxpayer-backed Royal Bank of Scotland racked up another £450 million in charges today as it counted the mounting cost of its recent IT meltdown and the PPI mis-selling scandal.

 

 

 

PPI mis-selling bill grows as Lloyds puts aside another £1bn

 

02 November 2012 12:00 AM

Lloyds Banking Group set aside another £1bn yesterday to cover yet more payment protection insurance (PPI) mis-selling, taking its total bill to £5.3bn and that for the banking industry as a whole to more than £11bn.

 

 

 

BT blames new 3Rs for its revenues slump to £4.5bn

 

02 November 2012 12:00 AM

BT chief executive Ian Livingston blamed his own version of the three Rs – recession, regulation and rain – yesterday for a sharp fall in revenue at the telecoms giant.

 

 

 

Shareholders' backing at Sky boosts James Murdoch

 

02 November 2012 12:00 AM

James Murdoch will be hoping that yesterday's Sky annual general meeting, where 95 per cent of shareholders voted to re-elect him as a director, marks the first step in his rehabilitation in Britain.

 

 

 

Credit Guarantee Scheme closes

 

02 November 2012 12:00 AM

A Government scheme designed to prop up the banks during the financial crisis has finally been shut down.

 

 

 

Record fine from Tokyo bourse for Nomura

 

02 November 2012 12:00 AM

The Tokyo Stock Exchange has hit the investment bank Nomura with a ¥200m (£1.5m) fine over insider dealing. It is the biggest fine imposed by the TSE, but just 0.2 per cent of Nomura's ¥85m profits last year.

 

 

 

Harwood reports Quarto over vote

 

02 November 2012 12:00 AM

The battle between independent publisher Quarto and rebel activist investor Harwood Capital escalated yesterday ahead of a crucial vote on 7 November.

 

 

 

Cookson breaks off its ceramics

 

02 November 2012 12:00 AM

Cookson has revealed how it is to divide itself, creating two new mid-cap companies. Engineered ceramics will be renamed Vesuvius and chemicals will be demerged and called Alent.

 

 

 

Sharp SOS as loss forecast doubles

 

02 November 2012 12:00 AM

The struggling TV maker Sharp warned it might not be able to survive on its own, as it almost doubled its full-year net loss forecast to $5.6bn (£3.4bn) yesterday, and said it was considering alliances with other companies.

 

 

 

Pay squeeze puts the brakes on house prices

 

02 November 2012 12:00 AM

A squeeze on take-home pay is set to keep the housing market subdued despite a slight bounce in prices in October, according to the building society Nationwide.

 

 

 

L&G warns of austerity

 

02 November 2012 12:00 AM

Legal & General has sounded the warning bell for the UK economy – claiming that a "triangle of austerity" will hit growth next year.

 

 

 

Rise at Smith & Nephew from woundcare

 

02 November 2012 12:00 AM

The artificial knee and hip markets are sagging in Europe, but medical instruments and joints-maker Smith & Nephew managed a 10 per cent rise in trading profits to $207m (£128m) in the third quarter.

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

U.S. job growth quickens, giving Obama some relief | btn_rel_video.gif

 

7:47pm GMT

 

Good U.S. jobs data despite jobless rate rise

 

7:47pm GMT

 

U.S. jobs report may help Obama in tight election race

 

7:47pm GMT

 

Thomson Reuters operating profit down, trading pressured

 

7:46pm GMT

 

Shell withdraws from LNG project in Sicily

 

7:19pm GMT

 

Comet enters administration, Deloitte seeks buyer

 

6:46pm GMT

 

Europe's new car market slumps toward 1993 lows

 

5:48pm GMT

 

FTSE ends with tiny gains as U.S. data draws muted response

 

FXpert 5:21pm GMT

 

Investor money squeezes reinsurance share in disaster risk

 

4:51pm GMT

 

Europe's shrinking banks still critical on global stage

 

G20 4:25pm GMT

 

Swiss bankers fear more bloodletting after UBS job cuts

 

3:50pm GMT

 

Glencore among suitors for Anglo's Brazil Amapa stake

 

3:41pm GMT

 

UK construction ekes out growth in October - Markit

 

UK 3:40pm GMT

 

Global manufacturing downturn eases on U.S. support - PMI

 

UK, 3:40pm GMT

 

Global manufacturing downturn eases on US support - PMI

 

3:39pm GMT

 

Latvia to seek euro readiness view next year

 

2:34pm GMT

 

Exclusive - Rothschild in talks to counter Bakrie break-up plan

 

2:16pm GMT

 

RBS braced for fines to settle Libor probe | btn_rel_video.gif

 

1:50pm GMT

 

Deeper euro zone factory downturn hardens stimulus view

 

5:45pm GMT

 

Thomson Reuters operating profit down, trading pressured

 

1:23pm GMT

 

Car insurers stall as prices flatline

 

11:45am GMT

 

No discussion of shares versus cash for AAR's TNK-BP deal

 

11:33am GMT

 

International air traffic rises in mixed recovery - IATA

 

10:20am GMT

 

M&S profit fall to turn up heat on CEO

 

9:55am GMT

 

Cost of playing east Africa oil game on the rise

 

9:52am GMT

 

Berkshire Hathaway to buy Oriental Trading Company - WSJ

 

9:46am GMT

 

Alcatel third-quarter loss widens as customers cutback

 

9:22am GMT

 

Germany's Schaeuble says debt reduction is global task

 

G20, Japan 9:17am GMT

 

Japan automakers China slump accelerates on islands row

 

Japan 9:16am GMT

 

Euro zone factory downturn deepens as core economies struggle - PMI

 

9:04am GMT

 

IMF visits Portugal early to advise on spending cuts - media

 

IMF 8:43am GMT

 

M&C Hotels third-quarter results helped by Olympics

 

8:40am GMT

 

Deutsche, Commerzbank ready for SIFI capital rules

 

8:31am GMT

 

TNK-BP sale should be partly Rosneft shares - minister in paper

 

8:27am GMT

 

Global bank lobby questions Spanish bad bank structure

 

Spain 8:21am GMT

 

Spanish manufacturing shrinks for 18th month in October :PMI - poll

 

Spain 8:17am GMT

 

Meggitt says energy growth keeps revenues in line

 

Aerospace & Defence 7:54am GMT

 

Indonesia's Berau Coal shares surge on buyout prospects

 

7:50am GMT

 

Rosneft helps Russia's oil output to post-Soviet high

 

7:43am GMT

 

Direct Line says half-way towards cost cut target

 

7:28am GMT

 

Economy may grow 1.1 percent in 2013 - NIESR

 

UK, 7:27am GMT

 

Deutsche Telekom mulls slashing dividend - paper

 

7:16am GMT

 

China Construction Bank plans dim sum bond issue in London

 

6:16am GMT

 

Global shares, crude oil dip despite stronger U.S. jobs

 

FXpert, 7:01pm GMT

 

Xstrata fires 400 strikers at South Africa chrome mine

 

6:04am GMT

 

Auto supplier collapse threatens GM, Ford production in Australia

 

Australia 5:58am GMT

 

Microsoft versus Google trial raises concerns over courtroom secrecy

 

11:03am GMT

 

Apple rolls out iPad mini in Asia to shorter lines

 

4:46am GMT

 

Qantas says to focus on paying down debt

 

Aerospace & Defence 3:56am GMT

 

Japan to import rare earths from Kazakhstan - media

 

Japan 2:47am GMT

 

Four banks must hold most extra capital-regulators

 

G20 12:53am GMT

 

Bank of England gets long to-do list for overhaul

 

UK, 6:42pm GMT

 

Factbox - Reviews suggest changes to Bank of England

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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2 November 2012 Last updated at 20:03

 

 

RBS sees PPI bill rise by £400m_63874034_jtajj44f.jpg

 

RBS sets aside a further £400m to cover payment protection insurance mis-selling claims, as it reports a £1.26bn quarterly loss.

 

 

_63879749_153454216.jpgUS economy adds 171,000 new jobs

 

The US economy created more jobs than expected in October, in the last litmus test of recovery before Tuesday's presidential election.

 

 

 

_63891247_k28izdf4.jpgComet calls in the administrators

 

The Comet retail chain appoints Deloitte as administrators after private equity firm OpCapita fails to revive the business.

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

[/url]

 

Comet officially in administration, stores re-open for expected firesale

 

comet-store_2386934g.jpg

Comet's 240 stores, which were shut this morning to brief staff and to rearrange them for an expected firesale, reopened this afternoon, as retailer collapses into administration.

41 Comments

Deloitte blames internet and lack of first-time home buyers

 

 

 

 

QE 'counterproductive', Goodhart warns

 

QE_2353434g.jpg

More money printing may not just be ineffective but “counterproductive”, a former Bank of England ratesetter has warned ahead of next week’s key decision.

44 Comments

BoE needs to prevent group think, former deputy governor warns

 

 

 

RBS could settle Libor probe within months

 

rbs_2350503g.jpg

Royal Bank of Scotland could announce a multi-million pound settlement within months over allegations its staff attempted to manipulate Libor.

1 Comment

RBS reports £1.38bn loss after PPI provision

 

 

 

Boost for Obama as US adds 171,000 jobs

 

ob_2316488g.jpg

US job growth accelerated last month,defying expectations that companies curb hiring because of the uncertainty building over next week's election and giving President Obama a boost.

38 Comments

 

Rothschild fights back against the Bakries

 

nat_2387366g.jpg

Financier Nat Rothschild has launched a fightback against the Bakries’ £750m bid to buy up the assets of Bumi, the troubled coal group that has tarnished his reputation in the City.

Comment

 

Eurozone core economies struggle

 

Greece_2383869g.jpg

Eurozone manufacturing shrank for the 15th month running in October as output and new orders fell, a survey showed on Friday, likely fuelling expectations of further easing from the European Central Bank.

35 Comments

Debt crisis: as it happened - November 2, 2012

 

 

UK construction ekes out growth in October

 

 

 

Ikea returns to growth after price cuts

 

 

 

 

Waitrose ramps up loyalty card in new challenge to Tesco

 

QE 'counterproductive', Charles Goodhart warns

 

QE_2353434g.jpg

More money printing may not just be ineffective but “counterproductive”, a former Bank of England ratesetter has warned ahead of next week’s key decision.

44 Comments

How the US economy has fared under Barack Obama

 

 

 

 

BoE needs to prevent group think, former deputy governor warns

 

 

 

 

Eurozone factory downturn deepens as core economies struggle

 

Consumers have duties, too, so put a time limit on mis-selling claims

 

Britain's banks should be our national wealth fund

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

NFP: Whassat?

Hmmm, now this is an interesting report!

Total nonfarm payroll employment increased by 171,000 in October, and the unemployment rate was essentially unchanged at 7.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in professional and business services, health care, and retail trade.

So why was the rate unchanged? People came back into the workforce, basically.

Hourly workweek was essentially unchanged, but manufacturing workweeks were down 0.1 hours. Hourly earnings declined by one cent. Both August and September saw large upward revisions.

 

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

Breaking news

 

 

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Collapse of Comet puts 7000 jobs in danger

 

02 November 2012 10:00 PM

Comet, the UK's second-biggest electricals chain, collapsed into administration last night, leaving nearly 7,000 jobs hanging by a thread ahead of Christmas.

 

 

 

RBS close to settlement over its fine for Libor

 

02 November 2012 10:00 PM

Royal Bank of Scotland is entering the final round of negotiations with regulators over its role in the Libor-rigging scandal and the scale of fine it can expect following Barclays' £290m settlement.

 

 

 

230 Umbro jobs are in play after Nike's sell-off

 

02 November 2012 10:00 PM

More than 200 jobs could be at risk at Umbro in the North-west only days after the sportswear giant Nike agreed to sell the company to the Iconix Brand Group for $225m (£140m).

 

 

 

Direct Line and Admiral find it tough

 

02 November 2012 10:00 PM

Britain's two top car insurers, Direct Line and Admiral, reported weaker quarterly results yesterday, held back by flat or falling prices amid mounting competitive pressure.

 

 

 

Insolvencies fall to two-year low

 

02 November 2012 10:00 PM

The number of companies going insolvent has fallen to its lowest level in two years, official figures show.

 

 

 

Firms cut back as winter bites

 

02 November 2012 10:00 PM

Builders are heading into a "long, dark winter" as firms cut jobs at the fastest pace for more than a year, a new survey warned yesterday.

 

 

 

Ikea sales leaping despite big-ticket slump

 

02 November 2012 10:00 PM

Flat-pack furniture giant Ikea has delivered its best sales growth in the UK for six years, despite the market for big-ticket items remaining in the doldrums. Ikea increased revenues by 6.3 per cent to £1.23bn over the year to August 31, with its underlying sales up by the same amount. The Swedish company, which has 18 UK stores, grew its UK market share by 0.4 per cent to 6.8 per cent, according to Verdict Research, despite revenues in the home furnishing sector falling by 2.2 per cent.

 

 

 

CPI to take in cost of homeowning

 

02 November 2012 10:00 PM

The cost of owning and upkeeping a home will be taken into account in official inflation figures for the first time next March when the Office for National Statistics launches a new version of the Consumer Prices Index benchmark of the cost of living. Owner-occupier costs will be based on rental prices, which are already included in the CPI, to create the new CPIH benchmark. Changes in house prices remain excluded from the CPI, which stood at 2.2 per cent in September.

 

 

 

Games boosts room rates for M&C

 

02 November 2012 10:00 PM

the Olympics helped hotels group Millennium & Copthorne enjoy a 20 per cent rise in room rates in London this summer, although its hotels in the capital were slightly emptier than the same period a year ago.

 

 

 

Pubs raise a glass to MPs as they call for new look at Beer Duty Escalator

 

02 November 2012 10:00 PM

Britain's beleaguered pub industry was given some hope yesterday after backbench MPs forced the Government to look again at rules which make beer duty rise faster than inflation.

 

 

 

Nat Rothschild launches a late $1.2bn bid to grab miner Bumi

 

02 November 2012 10:00 PM

Billionaire prepares offer as he turns up the heat against his rivals the Bakries

 

 

 

B&M attracts private equity bids

 

02 November 2012 08:00 PM

The private equity firms Apax and BC Partners have submitted first-round bids for B&M Bargains, the discount retailer that is up for sale for £850m.

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

3 November 2012 Last updated at 00:06

 

 

RBS sees PPI bill rise by £400m_63874034_jtajj44f.jpg

 

RBS sets aside a further £400m to cover payment protection insurance mis-selling claims, as it reports a £1.26bn quarterly loss.

 

 

_63879749_153454216.jpgUS economy adds 171,000 new jobs

 

The US economy created more jobs than expected in October, in the last litmus test of recovery before Tuesday's presidential election.

 

 

 

_63891247_k28izdf4.jpgComet calls in the administrators

 

The Comet retail chain appoints Deloitte as administrators after private equity firm OpCapita fails to revive the business.

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

For Some After the Storm, No Work Means No Pay

 

By SHAILA DEWAN and ANDREW MARTIN

 

 

Thousands of hourly workers took extreme measures to get to work following Hurricane Sandy with the fear that if they did not go to work , they probably would not be paid.

 

 

 

HOURLY-sfSpan.jpg

Richard Perry/The New York Times

 

Muta Prather, who missed three days of work because his employer’s plant was flooded, doesn’t know how he’ll pay for repairs to the storm-damaged roof of his West Orange, N.J., home.

 

 

 

 

 

Military to Deliver Fuel to Storm-Ravaged Region

 

By ERIC LIPTON and CLIFFORD KRAUSS

 

With lines at Northeast gas stations persisting, the government turned to the Pentagon for help and eased limits on foreign tankers.

 

 

 

 

Cellphone Users Steaming at Hit-or-Miss Service

 

By BRIAN X. CHEN

 

Four days after Hurricane Sandy, the major carriers — AT&T, Verizon Wireless, T-Mobile USA and Sprint — were still rebuilding their networks in the hardest-hit areas.

 

 

 

 

 

 

 

03bloodthinner-thumbStandard.jpg

A Promising Drug With a Flaw

 

By KATIE THOMAS

 

The anticlotting drug Pradaxa, on the market only two years, is growing in popularity for its ease of use, but it has been associated with hemorrhaging, and it has no antidote to reverse its blood-thinning effects.

 

03jobs-thumbStandard.jpg

Latest Jobs Report Shows Persistent Economic Growth

 

By CATHERINE RAMPELL

 

The Labor Department’s last pre-election figures showed 171,000 jobs added in October. Unemployment edged up to 7.9 percent.

 

 

AUTO-thumbStandard.jpg

Hyundai and Kia Acknowledge Overstating the Gas Mileage of Vehicles

 

By BILL VLASIC

 

On Friday, the carmakers Hyundai and Kia admitted that they had overstated the fuel economy of 900,000 vehicles sold in the United States over the last two years.

 

DealBook

 

Berkshire to Buy Oriental Trading Company

 

By MICHAEL J. DE LA MERCED

 

With the holidays approaching, Warren E. Buffett’s company, Berkshire Hathaway, is stocking up on elf hats and reindeer paper plates by buying an 80-year-old retailer overflowing with them.

 

 

Facebook Cancels Shortcut Over Concern for Security

 

By SOMINI SENGUPTA

 

What was supposed to be a shortcut for Facebook users to log into their pages ended up exposing their e-mail addresses, potentially allowing access to their accounts as well.

 

Irish Ex-Billionaire Is Jailed for Failing to Disclose Assets

 

By REUTERS

 

Sean Quinn, a man who once had businesses worth $5.2 billion, will spend nine weeks in jail for contempt that a Dublin judge called “nothing short of outrageous.”

 

 

 

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]

 

Comet gift vouchers suspended as chain collapses into administration

 

newPic_8452_jpg_2387640g.jpg

Comet's 240 stores, which were shut this morning to brief staff and to rearrange them for an expected firesale, reopened this afternoon, as retailer collapses into administration.

58 Comments

Comet offically enters administration, stores re-open for expected firesale

 

 

 

 

Merkel: crisis will last at least another five years

 

eu_merkel_victory_2373929g.jpg

The eurozone will take at least another five years to recover from the crippling debt crisis that has hampered even Europe's most powerful economy, according to German Chancellor Angela Merkel.

162 Comments

Eurozone factory downturn deepens as core economies struggle

 

 

Debt crisis: as it happened - November 2, 2012

 

 

 

Foreign firms could owe UK £11bn in tax

 

HMRC_2387454g.jpg

Foreign companies, including Starbucks and Google, could be responsible for as much as £11bn in unpaid British taxes, it has been disclosed.

326 Comments

Starbucks' Europe arm paid just $1.2m in taxes

 

 

 

QE 'counterproductive', Goodhart warns

 

QE_2353434g.jpg

More money printing may not just be ineffective but “counterproductive”, a former Bank of England ratesetter has warned ahead of next week’s key decision.

163 Comments

BoE needs to prevent group think, former deputy governor warns

 

 

 

RBS could settle Libor probe within months

 

rbs_2350503g.jpg

Royal Bank of Scotland could announce a multi-million pound settlement within months over allegations its staff attempted to manipulate Libor.

12 Comments

Standard Chartered close to US settlement over Iran claims

 

 

 

Boost for Obama as US adds 171,000 jobs

 

ob_2316488g.jpg

US job growth accelerated last month,defying expectations that companies curb hiring because of the uncertainty building over next week's election and giving President Obama a boost.

 

A man with the vision to lead the Bank of England forward

 

haldane_2036017g.jpg

There is the quiet, but unmistakable, sound of a leaf being turned". So said Andrew Haldane last week, the Bank of England's youthful executive director for financial stability.

Comment

Beyond the Governor: tough choices at the Bank of England

 

 

 

 

Will Tarzan's growth agenda rescue the UK?

 

 

 

 

Angela Merkel: eurozone crisis will last at least another five years

 

Changes need to be made at the BoE - starting with the Court's name

 

 

 

 

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

Yes, You Can

 

Pay attention folks because there will be a test, and if you fail this one, you die.

 

  • The Federal Government went from spending $53 billion in 1980 to $850 billion last year on health care. It cannot continue to run a 9.3% annual expansion rate on expense as that doubles every 7 years and change. The government cannot keep its promise to leave Medicare unmolested for all those 50 and over; to do so it would have to spend nearly $14 trillion a year for a 50 year old person by the time they're 85. That's roughly four times the entire federal budget today.
     

  • Obama passed Obamacare which protects these health monopolies and cost-shifts that led to this explosion in expense. Mitt Romney passed Romneycare in Massachusetts which also protected these explosions in expense. Neither candidate, if elected Tuesday, will fix it.

 

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

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