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The great interest rate rip off part 8


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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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Battle lines drawn on private sector role in defence

 

11 June 2013 12:00 AM

The Government has rattled the unions by pushing forward with plans to effectively privatise the body that supplies guns to the Army and battleships to the Royal Navy.

 

 

 

Bill Gates and his charity revealed as major shareholders in embattled G4S

 

11 June 2013 12:00 AM

The world's richest man and the world's biggest security company are working on the same team.

 

 

 

ftse.jpg

Global gloom drags FTSE 100 down

 

11 June 2013 02:05 PM

A worldwide share plunge saw the FTSE 100 Index fall more than 100 points today as a run of pessimism on the markets pulled leading stocks further down from near-record heights seen just a few weeks ago.

 

 

 

Lloyds-AFP.jpg

Lloyds Banking Group forced to admit 'issues' with its PPI complaints procedure after claims it told staff to ignore possible fraud

 

11 June 2013 09:24 AM

Investigation claims trainees were told to turn a blind eye on the assumption that bank never mis-sold PPI

 

 

 

Infosys boss warns UK not to freeze out talent with new visa rules

 

11 June 2013 12:00 AM

India's leading business trade body has pressed the Business Secretary, Vince Cable, to loosen visa restrictions that it says are making it harder for foreign companies to bring workers into Britain.

 

 

 

PR peer pays out over billionaire 'smear'

 

11 June 2013 12:00 AM

Lord Malloch-Brown, a former Labour minister, was left humiliated last night after he and the PR company he works for agreed to make an out-of-court settlement to the controversial Israeli mining billionaire Beny Steinmetz over sensational allegations of a smear campaign.

 

 

 

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Bad news for George Osborne as new figures reveal UK manufacturing shrank in April

 

11 June 2013 03:22 PM

Overall industrial production grew by 0.1% for the month

 

 

 

Glencore investigated over '€120m tax-evasion'

 

11 June 2013 12:00 AM

Glencore has confirmed that it is being investigated by Italian financial police over tax evasion allegations involving its Sardinian subsidiary, the metals producer Portovesme.

 

 

 

Punch plans to slash £2.1bn debt as trading improves

 

11 June 2013 12:00 AM

The embattled pub group Punch Taverns has proposed a radical restructuring of its £2bn-plus debt mountain, and posted improved trading.

 

 

 

AstraZeneca pays $1.2bn for lung treatment maker

 

11 June 2013 12:00 AM

AstraZeneca has bought the US lung drug specialist Pearl Therapeutics for $1.15bn (£740m) as it continues to resuscitate its product pipeline through deals.

 

 

 

Second big payday for Vue cinema chain founder after £935m deal

 

11 June 2013 12:00 AM

The Canadians are taking over the cinema chain Vue in a £935m deal that means a windfall for chief executive Tim Richards and private-equity backer Doughty Hanson.

 

 

 

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Sold down the river: How Thames Water diverts its tax liability via the Caribbean despite £549m profit and 6.7% price hike

 

11 June 2013 07:00 AM

UK's largest water company received £5m Treasury rebate

 

 

 

State TV and radio to go off the air as part of Greek austerity cuts

 

11 June 2013 06:13 PM

The cash-strapped government is to shut down state-run television and radio temporarily to save money, despite fierce objections from unions.

 

 

 

Orange chief Richard detained in Tapie payout case

 

11 June 2013 12:00 AM

The French mobile giant Orange was rocked yesterday after its chief executive, Stéphane Richard, was held for questioning by judicial authorities over his past role as a senior adviser in the government of the former president Nicolas Sarkozy.

 

 

 

Balfour Beatty to cut 200 jobs as it shuts sites

 

11 June 2013 12:00 AM

Balfour Beatty is to close three of its regional construction businesses with the loss of up to 200 jobs. The largest closure is at Dartford, Kent, where 90 jobs will go. The other sites are at Rochdale, in Lancashire and Doncaster in Yorkshire.

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

UK's Exponent mulls sale of Ambassador Theatre Group - Sky News

 

7:56pm BST

 

Airbus sets A350 maiden flight for Friday | btn_rel_video.gif

 

Aerospace & Defence 7:51pm BST

 

Praet says ECB has room to cut rates lower

 

7:34pm BST

 

JPMorgan CEO Dimon defends disclosures in Whale episode

 

7:34pm BST

 

Encana names BP Gulf spill veteran as its new CEO

 

7:08pm BST

 

Berlin defends ECB bond plan, casts doubt on court's power | btn_rel_video.gif

 

6:38pm BST

 

Regulation threatens Europe's banking system - Deutsche Bank CEO

 

G20 6:33pm BST

 

Severn Trent bidder walks away after third snub

 

6:29pm BST

 

Airbus sets A350 maiden flight for Friday - source

 

6:28pm BST

 

BAE says Asian, Mideast jet demand to offset Western cuts

 

Aerospace & Defence 6:27pm BST

 

Britvic plays down chances of reviving AG Barr merger

 

UK, 6:26pm BST

 

ECB pays "great attention" to euro zone inflation - Praet

 

6:23pm BST

 

Google buys Israel's Waze to keep mobile maps lead

 

6:17pm BST

 

Dole's 90-year-old CEO offers to take company private

 

6:11pm BST

 

Former Monte Paschi managers to stand trial - judicial sources

 

5:36pm BST

 

OPEC sees room for its over-target oil output

 

5:34pm BST

 

Oil demand in developing world surpasses wealthy nations - EIA

 

5:34pm BST

 

Floods could cost Germany 12 billion euros in economic damage, warns Fitch

 

5:28pm BST

 

Fear of ebbing cash tide sends FTSE through support levels

 

5:25pm BST

 

BC Partners sole bidder for Springer Science - sources

 

5:07pm BST

 

Euro zone debt crisis largely over, Bank of Italy says

 

5:05pm BST

 

IMF tells Georgia to reassure investors to help flagging economy

 

IMF 5:03pm BST

 

Prada says won't give up on lagging secondary brands

 

5:02pm BST

 

Bundesbank chief-sees risk ECB bond-buying could slow reforms

 

5:00pm BST

 

Asmussen says ECB would not vote for debt haircut on OMT states

 

4:25pm BST

 

Forest Labs to add Icahn representative to board, avert proxy fight

 

4:15pm BST

 

ECB's Asmussen does not see debt haircut for any euro zone state

 

3:45pm BST

 

ECB's Asmussen - bond-buying scheme is effectively limited

 

3:34pm BST

 

BC Partners now sole bidder for Springer Science - sources

 

3:10pm BST

 

Mondelez to take on Nespresso with own-brand coffee pods

 

3:08pm BST

 

Britain's recovery strengthens, house prices rise

 

UK 3:01pm BST

 

Britain's economy grew 0.6 percent in three months to May - NIESR

 

UK 3:01pm BST

 

Preset limits would harm ECB bond plan - Mersch

 

2:17pm BST

 

Boeing raises jetliner demand forecast

 

Aerospace & Defence 1:33pm BST

 

Boeing scores over $10 billion in U.S. aircraft orders

 

Aerospace & Defence 1:33pm BST

 

Swiss-U.S. tax spat goes to wire after parliament setback

 

3:38pm BST

 

Indian federal police file case against Jindal Steel

 

12:33pm BST

 

Strike hits French airports | btn_rel_video.gif

 

World 1:59pm BST

 

Bank of Finland slashes outlook, sees deeper recession

 

11:58am BST

 

Floods may briefly hit German growth - industry group

 

11:50am BST

 

Lufthansa, Verdi wage deal means 74 million euros more costs

 

11:33am BST

 

Greece to ask lenders to lower asset sale target - source

 

11:26am BST

 

Sale of Greek gas firm should resume as soon as possible - EU Commission

 

11:26am BST

 

Greece to ask lenders to lower asset sale target - source

 

11:05am BST

 

UK banks regulator backs tougher bonus curbs - paper

 

UK 10:50am BST

 

Lloyds admits flaws in insurance complaints handling

 

UK 10:29am BST

 

Orange CEO held for further questioning in Tapie case

 

10:03am BST

 

UK industrial output inches up in April, third monthly rise

 

UK 9:32am BST

 

BOJ stands pat, leaves door open for market calming steps

 

Japan 11:48am BST

 

BOJ's Kuroda: will consider steps to calm JGB market if needed

 

Japan 8:58am BST

 

Cyprus to probe troubled lender's Russian acquisition

 

7:57am BST

 

Keller to buy North American Energy Partners' piling business

 

7:47am BST

 

Asian shares hit 2013 lows; Nikkei slips as BOJ disappoints

 

Japan 7:33am BST

 

Apple unveils music streaming service, revamps iOS | btn_rel_video.gif

 

6:46am BST

 

Japan's Amari - hope Bank of Japan communicates well with markets on policy

 

Japan 2:21am BST

 

SoftBank raises Sprint offer, shareholder vote delayed

 

Japan 2:03am BST

 

Dish still eyeing Sprint books days ahead of vote

 

2:01am BST

 

SoftBank - agreed with Sprint to raise offer to $21.6 billion from $20.1 billion

 

Japan 1:27am BST

 

Bank of Spain - Possible October decision on bank rescue extension

 

Spain 12:16am BST

 

UK house prices rise in May at fastest pace in three years - RICS

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

11 June 2013 Last updated at 18:34

 

 

Ex-HBOS chief stripped of knighthood_68118528_66802448.jpg

 

Former HBOS chief executive James Crosby has been formally stripped of his knighthood at his request, the UK Cabinet Office says.

 

 

_68098042_68098014.jpgLloyds admits PPI shortcomings

 

Lloyds Bank admits shortcomings in its handling of complaints from customers who were victims of a major financial scandal.

 

 

 

_68115462_21stcenturyfoxlogo.jpgNews Corp votes to split into two

 

As News Corp shareholders vote through Rupert Murdoch's plans to divide the company in two, what does this mean for the ageing mogul's media empire?

 

 

 

 

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

Nuclear Power’s Future May Hinge on Georgia Project

 

By MATTHEW L. WALD 10:03 AM ET

 

 

As the current generation of reactors moves toward retirement, a project in Georgia and one in South Carolina may be the industry’s last best hope.

 

Google Asks to Reveal Details About Classified Requests

 

 

By CLAIRE CAIN MILLER 50 minutes ago

 

Google asked the government for permission to reveal details about the classified requests the technology company receives for the personal information of foreign users.

 

12yen-thumbStandard.jpg

Japan’s Central Bank Holds Steady Amid Market Volatility

 

By HIROKO TABUCHI

 

Global stocks fell sharply after the Bank of Japan stood by its monetary policy and an ambitious target to stoke 2 percent inflation in two years.

 

 

Wall Street Lower on Central Bank Fears

 

By REUTERS 9:51 AM ET

 

Stocks fell on Tuesday after Japan did not offer new measures to calm its bond market, disappointing American investors who were also trying to gauge Federal Reserve policies.

 

A Vulnerable Age

 

Bank-thumbStandard-v2.jpg

Banks Seen as Aid in Fraud Against Older Consumers

 

By JESSICA SILVER-GREENBERG

 

Federal authorities and consumer lawyers say banks play a key role in giving questionable Internet merchants access to the financial system, enabling them to prey on consumers.

 

 

Bits Blog

 

11bits-waze-thumbStandard.jpg

Google Expands Its Boundaries, Buying Waze for $1 Billion

 

By VINDU GOEL 1:55 PM ET

 

After weeks of talks Google completed a deal to buy the Israeli social mapping start-up, which uses a combination of GPS tracking and contributions from its users about road conditions to help drivers navigate.

 

 

12eucourt-thumbStandard.jpg

In Bond Case, German Court Debates Fate of Euro

 

By JACK EWING 1:13 PM ET

 

At a hearing considering whether measures to contain the European crisis are legal, a debate on the euro project itself has erupted.

 

DealBook

 

dbpix-dole-murdock-thumbStandard.jpg

Taking Dole Food Private Again Is Latest Challenge for 90-Year-Old Billionaire

 

By MICHAEL J. DE LA MERCED 2:08 PM ET

 

David H. Murdock once took Dole Food private. Now he is betting that he can do it again.

 

 

‘PBS NewsHour’ Plans Layoffs as It Closes Offices

 

By BRIAN STELTER 12:00 PM ET

 

Facing a budget shortfall, the show’s producer is closing the two offices outside the Washington area, in Denver and San Francisco.

 

11lakes1-thumbStandard-v2.jpg

Water Levels Fall in Great Lakes, Taking a Toll on Shipping

 

By JOHN SCHWARTZ 2:17 PM ET

 

Drought and other factors have created historically low water marks for the Great Lakes, putting a $34 billion shipping industry in peril, a situation that could send ripples through the economy.

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Britain challenges 'illegal' EU power to ban short-selling

 

stock_2440391g.jpg

The Government has challenged new European Union powers to regulate financial markets as "unlawful" and an "institutional revolution" by the back door, during a legal challenge in Europe's Luxembourg court.

Comments

Business news and markets: as it happened - 11 June, 2013

 

 

UK losing business 'every minute' due to visas

 

china-tourist_2452071g.jpg

China's biggest travel agency has warned that Britain is losing business “every minute” because of its “complicated and expensive” visa system.

Comments

 

RBS 'should be more like Canadian bank'

 

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Hedge fund manager pictured with presentation on RBS, entitled "the case for improving viability", which appeared to recommend that the lender should become more like a Canadian bank.

Comments

 

BAE snaps up cyber security recruits

 

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Almost half of the trainees recruited by BAE Systems this year will join the defence giant's burgeoning cyber and security business as companies look to protect themselves against increasing cyber threats.

Comments

 

UK services sector to drive growth in 2013

 

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Britain's dominant services sector will drive growth in 2013, according to NIESR, as it said the UK economy grew by 0.6pc in the three months to May on the back of strong industrial and services output.

Comments

 

Lloyds customers urged to fight PPI rejections

 

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Campaigner Martin Lewis has told customers that having a PPI claim rejected by Lloyds was "part of the dance", following an expose of the bank's complaints procedures.

Comments

Lloyds salesmen 'faked' papers to include PPI

 

 

 

UK industrial output rises for third month

 

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UK industrial output rose in April for a third consecutive month, official data showed on Tuesday, underlining the slow but steady nature of the country's recovery so far this year.

Comments

 

AG Barr merger with Britvic on the rocks

 

The proposed £1.8bn merger between two of Britain’s biggest soft drink makers, Britvic and AG Barr, is on the rocks despite the Competition Commission provisionally clearing the tie-up.

Comments

 

Sky to raise TV fees despite hopes of price war

 

 

 

 

Shale gas could fuel Britain for a decade

 

 

 

 

Business news and markets: as it happened - 11 June, 2013

 

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Bond markets are sliding across the board as investors get jittery about central banks stemming the flow of money into the global economy.

UK challenges EU power to ban short-selling

 

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Britain has gone to the European Court of Justice to overturn powers allowing a Paris-based regulator to ban short-selling as part of a campaign of legal challenges to rein in growing EU powers over financial regulation.

Comments

 

Which areas of Britain earn the most?

 

London_getty-image_2587052g.jpg

The UK regions that are taking home the most per year.

Comments

 

UK industrial output rises for third month

 

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Britain's "nascent" industrial recovery is still underway, after official data showed that output rose for a third consecutive month in April.

Rent controls are madness, we need to build more homes

 

The rise and rise of the Italian hedgie

 

When the bond bubble finally bursts, a lot of investors will get hurt

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

Hoh Hoh Hoh (TickerGuy's GDP Graph)

Head on over and have a look folks....

http://media.washtimes.com/media/misc/2013/06/10/201300611-voiceofrussia.pdf

I was solicited for opinion by the author of the piece, and he got my debt and GDP graph into the final article.

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

 

 

 

 

 

 

 

 

  • Greek disarray after broadcaster axed

     

    Last updated one minute ago

    Greek-broadcaster-goes-on-005.jpg Greece takes draconian move to show government is serious about meeting bailout austerity measures

    Post your comment

  • 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

    Euro telecoms battle hots up as Vodafone targets German firm

     

    12 June 2013 11:44 AM

    Mobile phone giant confirms approach to Germany's biggest cable company Kabel Deutschland

     

     

    inflation1.jpg

    UK unemployment: Over-65 workers hit record 1m with modest growth in jobs market

     

    12 June 2013 12:34 PM

    But unemployment rate remains well above pre-crisis levels and pay growth is still weak

     

     

     

    Greece becomes first developed country to be downgraded to emerging-market status

     

    12 June 2013 01:55 PM

    Greece's standing in the world slipped further today after it became the first developed country to be downgraded to emerging-market status by index provider MSCI.

     

     

     

    web-energy-getty.jpg

    Ofgem to crackdown on Big Six energy suppliers in bid to cut electricity prices

     

    12 June 2013 01:29 PM

    Electricity prices are set to fall after the energy regulator pledged to “break the stranglehold” of the Big Six energy suppliers.

     

     

     

    Sir Roger Carr named as new BAE chairman

     

    12 June 2013 09:00 AM

    Sir Roger will replace Dick Olver, who has held the role for nine years

     

     

     

    Benefits-cap-GETTY.jpg

    Underpaid and underworked: Real legacy of recession is falling wages and productivity

     

    12 June 2013 01:14 AM

    Workers settling for less just to stay in a job, survey claims

     

     

     

    greece-reuters.jpg

    Closure of Greek state-run broadcaster ERT triggers political crisis as unions call 24-hour general strike

     

    12 June 2013 01:35 PM

    Surprise closure of ERT one of the biggest crises to afflict three-party coalition government

     

     

     

    web-hester-getty.jpg

    Royal Bank of Scotland chief Stephen Hester to step down

     

    12 June 2013 06:22 PM

    Decision comes amid mounting speculation over government plans for 82 per cent owned bank

     

     

     

    Persimmon and Travis Perkins celebrate promotion to FTSE 100

     

    12 June 2013 03:16 PM

    Housebuilder Persimmon and builders' merchant Travis Perkins will celebrate promotion to London's top 100 share index today amid increasing optimism over the property market.

     

     

     

    O2 cutting 400 more jobs, says union

     

    12 June 2013 02:35 PM

    Union leaders today claimed that mobile phone giant O2 plans to make a further 400 workers redundant.

     

     

     

    Sainsbury’s races ahead of Tesco as consumers go wild for its own-label brands

     

    12 June 2013 01:53 PM

    Sainsbury’s today put clear daylight between itself and the grocery market leader Tesco by posting its 34th consecutive quarter of sales growth.

     

     

     

    James-Crosby-PA.jpg

    Former HBOS chief James Crosby loses knighthood

     

    12 June 2013 06:49 AM

    Former HBOS chief executive James Crosby has been formally stripped of his knighthood at his own request following a scathing parliamentary report into the bank's collapse.

     

     

     

    Google buys Waze map app for $1bn

     

    12 June 2013 12:38 PM

    Google has bought the community-driven navigation app Waze, setting the stage for an expansion of its maps 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

    WPP shareholders acquiesce in Sorrell pay row

     

    7:37pm BST

     

    Nordic investor makes court debut in $8 billion Deutsche Bank battle

     

    7:20pm BST

     

    RBS boss Hester to step down this year

     

    7:03pm BST

     

    Daimler rolls out new S-Class Mercedes and new production chief

     

    6:52pm BST

     

    GM targeting investment grade rating 'within the year'

     

    6:44pm BST

     

    Monte Paschi board to meet on shareholder limits - sources

     

    6:18pm BST

     

    Osborne praises RBS chief, 'time for bank to move on'

     

    5:50pm BST

     

    IMF approves Portugal's seventh bailout review, target easing

     

    IMF 5:45pm BST

     

    RBS Hester says would have liked to stay for privatisation

     

    5:43pm BST

     

    Analysis - After emerging corporate bond boom, default risks on rise

     

    6:58pm BST

     

    Swiss upper house backs U.S. tax deal to protect banks

     

    5:35pm BST

     

    Vodafone moves for Kabel Deutschland in quad-play push

     

    5:00pm BST

     

    Vodafone moves for Kabel Deutschland in quad-play push

     

    4:58pm BST

     

    FTSE dragged down by M&A news, Greek jitters

     

    4:47pm BST

     

    Euro zone inflation outlook ebbs, but ECB to stand pat

     

    4:45pm BST

     

    Spain to seek unlimited firepower for euro zone bailout fund

     

    Spain 4:45pm BST

     

    Bank of England to give policy guidance once Carney takes over

     

    4:42pm BST

     

    Yellen overwhelming favorite to replace Bernanke at Fed

     

    4:42pm BST

     

    Teva, Sun Pharma to pay $2.15 billion to settle Pfizer patent suit

     

    4:41pm BST

     

    FCA looks into report of foreign exchange rate manipulation

     

    4:37pm BST

     

    Greek bank rescue fund will have money left over

     

    4:29pm BST

     

    EADS backs off goal of $10 billion in U.S. revenues by 2020

     

    Aerospace & Defence 4:12pm BST

     

    Boeing 787 grounding raised questions on FAA process - U.S. congressman

     

    3:42pm BST

     

    Croatia's top insurer sees growth potential ahead of sale

     

    3:40pm BST

     

    Analysis - FX intervention default policy in Asia as Fed fears rise

     

    3:39pm BST

     

    Deutsche Telekom closes in on Poland's GTS buy - sources

     

    3:35pm BST

     

    U.S. CEOs slightly more optimistic on economy, hiring - survey

     

    Aerospace & Defence 3:31pm BST

     

    Signs of M&A revival in Middle East as activity picks up

     

    3:04pm BST

     

    Oil product glut coming as refineries mushroom - IEA

     

    2:57pm BST

     

    Lenders' quarrels undermine trust in Portugal, says leader

     

    IMF 2:54pm BST

     

    Italy PM says favours international alliance for Alitalia

     

    2:47pm BST

     

    Hedge fund lobby group CEO to step down

     

    2:45pm BST

     

    VW bond sale not preparing for more takeovers - sources

     

    2:43pm BST

     

    Vodafone offered 81-82 eur/shr for Kabel Deutschland - sources

     

    2:39pm BST

     

    Italian retailers jeer minister over sales tax

     

    2:35pm BST

     

    France clips wings of "chick" entrepreneurs

     

    2:34pm BST

     

    Severn Trent deal blow hits "merger arb" funds

     

    2:30pm BST

     

    Portugal settles with JP Morgan over hedging contracts

     

    2:22pm BST

     

    Audi ramps up Hungarian production in boost to economy

     

    2:19pm BST

     

    EU says wants WTO ruling versus Chinese steel duties

     

    Spain 2:17pm BST

     

    British banks plan task force to respond to standards probe

     

    1:57pm BST

     

    Oman needs to slash spending to keep budget sustainable - IMF

     

    IMF 1:46pm BST

     

    Few fireworks as stumbling Croatia joins a troubled EU

     

    1:37pm BST

     

    India's Apollo Tyres to buy Cooper Tire for $2.5 billion

     

    1:33pm BST

     

    BoE's Fisher urges end to RBS uncertainty

     

    UK, 1:23pm BST

     

    Banks fear cyber attack more than euro crisis - BoE's Haldane

     

    Cyber Crime 1:04pm BST

     

    UK job market perks up in latest sign of recovery

     

    UK, David Cameron 12:55pm BST

     

    Merkel vows to rein in renewable subsidies

     

    12:41pm BST

     

    Lloyds executives face questions on collapse of branch sale

     

    12:36pm BST

     

    BoE's Haldane says Co-op must take further action

     

    12:36pm BST

     

    EU considering loan guarantees to boost lending to firms

     

    12:24pm BST

     

    Bank of England's Fisher - must push lenders to pass on lower costs

     

    UK 12:20pm BST

     

    France Telecom's CEO in hospital ahead of court decision

     

    12:13pm BST

     

    Austrian minister rejects costly 'bad bank' option for Hypo

     

    12:11pm BST

     

    ECB's Asmussen warns of talk of changing central bank's mandate

     

    12:09pm BST

     

    Euro zone industrial output shows surprise rise in April

     

    11:47am BST

     

    Sun shines on ASOS as Inditex and H&M feel the chill

     

    11:33am BST

     

    EU tax chief calls for wider bank data swap to fight tax dodging

     

    11:08am BST

     

    JPMorgan stays top of investment banking in first quarter - study

     

    11:06am BST

     

    Sainsbury outshines Tesco with sales rise

     

    UK, 10:48am BST

     

    BoE's Haldane says Co-op must take further action

     

    10:45am BST

     

    Kabel Deutschland approached by Vodafone for possible offer

     

    10:09am BST

     

    Glencore boosts board with former Morgan Stanley boss

     

    9:16am BST

     

    ASOS hails flying start to Primark trial as sales leap

     

    8:54am BST

     

    Global shares, dollar recover after steep selloff

     

    1:44pm BST

     

    UK utilities face having to disclose long-term deals

     

    UK 8:44am BST

     

    Rolls-Royce working with ANA after 787 engine problem

     

    Japan 8:39am BST

     

    BAE Systems appoints UK business veteran Carr as chairman

     

    7:49am BST

     

    Analysis - Emerging market crunch may cause Fed to think twice

     

    UK, 6:58am BST

     

    Facebook tackles stock price complaints in 1st shareholder meeting

    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

    12 June 2013 Last updated at 18:30

     

     

    Hester to step down from RBS role_68139518_stephenhesterpa.jpg

     

    Royal Bank of Scotland chief executive Stephen Hester is to step down from his role later this year.

     

     

    _68125098_jobcentreinuk.jpgUK unemployment falls by 5,000

     

    UK unemployment falls by 5,000 in the three months to April, partly reversing a recent upward trend, the Office for National Statistics says.

     

     

     

    _68122215_017921009.jpgNetwork Rail told to cut £2bn costs

     

    Network Rail is told by the rail regulator that it must find savings of £2bn over the next five years and improve punctuality on all routes.

     

     

     

     

    If DEBT is the problem REPAYMENT is the solution

     

    Debt revenue doesn't equal tax revenue

     

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

     

    Remember, profits are privatised, losses are socialised.

    That's the 21-century Free Market.

    Link to post
    Share on other sites

    The Word For The Day: Credit

    From 2007:

    Everyone thinks of the Stock Market Crash of 1929 as having been caused by "irrational exuberance".

     

    Nope.

     

    The panic of '87 and the crash of 00/01 was thought of the same way. Nope.

     

    So what causes them?

     

    Overuse of leverage.

     

    In other words, they start in the
    credit markets
    .

     

    Always.

    Why should you pay attention to this at the present time?

     

    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

    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

    Does anyone know the story, I heard it somewhere a while back, that when the decision was made about who should have the new job of Governor of the Bank Of England, one of the interviewers said about Mark Carney that "he sounded like he knew what he was talking about", clearly admitting they didn't have a clue themselves what he was talking about. I thought that was interesting on a number of levels. I've googled it recently but can't find a darn thing supporting this so maybe its a myth I've just made up. If anyone on here has a reference to this I'd be grateful.

    Edited by beastman1971
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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.

    Link to post
    Share on other sites

    £2bn wiped off RBS shares after chief executive Stephen Hester is forced to quit

     

    13 June 2013 09:50 AM

    Blow for Osborne after paving way for multibillion sell-off

     

     

    Very shabby: Verdict on Stephen Hester's treatment by RBS

     

    13 June 2013 12:00 AM

    Exit of banker who nursed RBS back to health shocks and perplexes investors

     

     

     

    Kate-Moss-St-Tropez.jpg

    Sun rises on St Tropez's profits after nude Kate Moss brightens up a chilly spring

     

    13 June 2013 04:50 PM

    Supermodel posed naked in a series of photographs for fake tan company

     

     

     

    Tablets and TVs prompt Argos sales growth

     

    13 June 2013 02:05 PM

    Catalogue retailer Argos today posted its fourth consecutive quarter of sales growth, driven by buoyant demand for tablets and televisions.

     

     

     

    Pay cut leaves Burberry boss Angela Ahrendts on £6.8m

     

    13 June 2013 02:01 PM

    Burberry chief executive Angela Ahrendts has seen her annual pay more than halve but still collected a £6.8 million windfall, the company’s annual report showed today.

     

     

     

    Fracking-PA.jpg

    Centrica puts £160m into fracking fields around Blackpool

     

    13 June 2013 10:35 AM

    Parent group of British Gas will take 25% stake in six Lancashire wells

     

     

     

    Nathan Bostock in running to replace Stephen Hester at RBS

     

    13 June 2013 03:40 PM

    He was recently announced as the bank's new finance director

     

     

     

    RBS to cut 2,000 more jobs as shares tumble

     

    13 June 2013 11:00 AM

    Decision comes after surprise exit of chief executive Stephen Hester

     

     

     

    Asian markets lead global fall after uncertainty over US monetary policy

     

    13 June 2013 11:30 AM

    Warnings of slower but more stable growth over the coming months

     

     

     

    Watchdog pressure on 'Big Six' likely to force down electricity prices

     

    13 June 2013 12:00 AM

    Electricity prices are set to fall after the energy regulator pledged to "break the stranglehold" of the "Big Six" energy suppliers. Ofgem has threatened energy firms with cash fines unless they become more transparent about wholesale prices.

     

     

     

    Jobs up, but pay rises still lower than inflation

     

    13 June 2013 12:00 AM

    The jobs market managed to eke out some modest growth in the three months to April, but the unemployment rate remains well above pre-crisis levels and pay growth is still weak, according to official figures.

     

     

     

    Treasury vetoed fund raisings by Lloyds and RBS

     

    13 June 2013 12:00 AM

    The Treasury intervened to prevent the Financial Policy Committee from instructing Royal Bank of Scotland and Lloyds to raise new equity capital, it emerged in public testimony from a member of the committee yesterday. The revelation is likely to fuel the debate about the political independence of the FPC.

     

     

     

    Asos revenues surge but Zara and H&M struggle on the high street

     

    13 June 2013 12:00 AM

    The online clothing retailer Asos posted another scorching quarter of revenue growth yesterday but the clothing giants Zara and H&M were hit by a slowdown on the high street.

     

     

     

    Currencies: Inquiry into 'rigging' claims

     

    13 June 2013 12:00 AM

    Britain's financial regulator is investigating claims that the $5 trillion (£3 trillion) foreign exchange market has been rigged.

     

     

     

    Ex Ford chairman, Joe Greenwell, to lead investment push

     

    13 June 2013 12:00 AM

    Up to £3m is to be spent trying to attract investment into the UK automotive industry, the Government will announce today. An Automotive Investment Organisation is to be set up, led by the former Ford chairman Joe Greenwell.

    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

    Monte Paschi calls shareholder meeting to vote on scrapping voting cap

     

    7:51pm BST

     

    Gagfah clinches refinancing deal for two billion euro loan

     

    7:48pm BST

     

    Ireland agrees to early review of troubled banks' loans

     

    7:39pm BST

     

    JPMorgan makes another change in chief risk office

     

    7:34pm BST

     

    ECB's Weidmann warns crisis policies could weaken monetary policy

     

    7:28pm BST

     

    EU not trying to weaken U.S. financial services rules - aide

     

    7:23pm BST

     

    SCA sees opportunities as rivals quit Europe

     

    7:19pm BST

     

    Italy sees no more fiscal tightening despite deficit problems

     

    7:17pm BST

     

    EADS boss sees good prospects for orders at air show

     

    6:58pm BST

     

    Exclusive - Goldman offers top clients automated block trading

     

    6:46pm BST

     

    MPS management seeks to double cap hike limit to 2 billion euros - sources

     

    6:39pm BST

     

    European insurers see capital rules at crossroads

     

    6:36pm BST

     

    U.S. sales, jobs data show underlying economic strength

     

    6:31pm BST

     

    ECB's Mersch sees slow euro zone recovery

     

    6:29pm BST

     

    RBS faces struggle to find CEO amid political meddling | btn_rel_video.gif

     

    6:28pm BST

     

    Analysis - Bombardier gambles on big order payoff with new jet

     

    Aerospace & Defence 6:27pm BST

     

    This time, bond investors think a Fed pullback is real

     

    6:23pm BST

     

    ECB's Weidmann warns against keeping rates too low for too long

     

    6:20pm BST

     

    The car is the next major tech platform - GM's CEO

     

    6:05pm BST

     

    Gannett surges to five-year high on deal to expand TV reach

     

    5:55pm BST

     

    More than $100 billion trapped in "zombie funds" - industry data

     

    5:48pm BST

     

    EU offers to give France bigger say in U.S. trade talks

     

    5:40pm BST

     

    UK car production on track to overtake France by 2018

     

    UK 5:38pm BST

     

    Britons' net incomes fall to lowest since 2001-02

     

    UK, 5:33pm BST

     

    EU states in deal on market rules - EU official

     

    G20 5:25pm BST

     

    Miners lead recovery on FTSE after morning falls

     

    5:24pm BST

     

    Factbox - Favourites and long-shots to be new RBS CEO

     

    5:24pm BST

     

    ECB bond plan necessary, effective, within ECB mandate - Draghi

     

    5:23pm BST

     

    Spanish and Greeks move north due to austerity, crisis - OECD

     

    World, 5:15pm BST

     

    Morrisons says playing catch-up will take time

     

    5:07pm BST

     

    Exclusive: Russia's Lenta picks banks for possible IPO - sources

     

    5:04pm BST

     

    Workers co-ops emerge from Italian small business collapse

     

    4:58pm BST

     

    Rhoen shareholder to contest takeover hurdle vote

     

    4:34pm BST

     

    VW car recalls show hazards of rapid growth - analysts

     

    4:32pm BST

     

    SocGen in talks to buy out Newedge partner - sources

     

    4:27pm BST

     

    BoE's Tucker proposes new rules for bank debt buffers

     

    UK, 4:27pm BST

     

    Airbus in advanced talks for $10 billion easyJet order - sources

     

    Aerospace & Defence 4:20pm BST

     

    EU files WTO complaint over Chinese stainless steel duty

     

    Japan 4:06pm BST

     

    IMF says risks to successful Portugal bailout still high

     

    IMF 4:02pm BST

     

    Industrialist Gattaz set to be new French employers' group chief

     

    3:51pm BST

     

    Beauty company Coty falls in market debut

     

    3:40pm BST

     

    Gannett to expand in TV with $1.5 billion Belo purchase

     

    3:38pm BST

     

    U.S. retail sales, jobs data show underlying economic strength

     

    3:35pm BST

     

    EU states in deal on market rules-EU official

     

    3:23pm BST

     

    France Tel CEO's future in question after fraud inquiry

     

    2:55pm BST

     

    Swiss experts back bank client data exchange with EU - radio

     

    2:49pm BST

     

    Analysis - No quick fix for corporate tax take as pressure to act builds

     

    G20 2:22pm BST

     

    Gannett to expand in TV with $1.5 billion Belo purchase

     

    2:19pm BST

     

    Royalty bid for Elan in trouble ahead of key meeting

     

    2:11pm BST

     

    Siena mayor opposes quick change to Monte Paschi shareholder cap

     

    2:05pm BST

     

    Chrysler working on loan refinancing - Fiat CEO

     

    1:50pm BST

     

    GE lifts 2014 plane engine production to meet demand

     

    Aerospace & Defence 1:48pm BST

     

    European insurance lobby says new capital rules at risk

     

    1:27pm BST

     

    Russia can't raise state spending forever - Putin

     

    12:52pm BST

     

    EU Court of Justice confirms 1.54 billion pounds fine on Eni unit in cartel case

     

    12:50pm BST

     

    Centrica investment boosts UK shale gas prospects

     

    UK, 12:42pm BST

     

    RBS axes 2,000 jobs in shake up of investment bank

     

    12:25pm BST

     

    UAE finances strengthening but risks in Dubai - IMF

     

    IMF 12:22pm BST

     

    Factbox - Favourites and long-shots to be new RBS CEO

     

    12:15pm BST

     

    Italy will "absolutely" meet 2013 deficit target - minister

     

    12:05pm BST

     

    G8 may discuss role of central banks - German source

     

    11:51am BST

     

    Mulberry defends price rises as pins hopes on Asia push

     

    11:44am BST

     

    Reports of forex-rate rigging "worrying"- French watchdog

     

    11:20am BST

     

    EU regulators put Visa Europe's antitrust concessions to rivals

     

    11:17am BST

     

    Springer Science owners near deal with BC Partners - sources

     

    11:02am BST

     

    Unilever cleared to increase Hindustan stake from June 21

     

    10:36am BST

     

    Cold spring stunts growth at Home Retail's Argos

     

    10:04am BST

     

    France threatens to block start of EU-U.S. trade talks

     

    8:54am BST

     

    Dollar slumps versus yen; Wall Street rises on data

     

    7:21pm BST

     

    Mulberry turns to Asia as annual profit slumps

     

    8:16am BST

     

    WS Atkins posts 2013 profit ahead of expectations

     

    7:52am BST

     

    Halma profit rises 8 percent on growth in United States and Asia

     

    7:35am BST

     

    Exclusive - Wal-Mart's everyday hiring strategy: Add more temps

     

    7:15am BST

     

    Analysis - Cows block path toward Canada-EU free trade deal

     

    6:12am BST

     

    BOJ Shirai says expects JGB yields to eventually stabilise

     

    Japan 4:13am BST

     

    EasyJet's London Stansted traffic to double over five years

     

    4:03am BST

     

    MPs' report criticises Google's tax affairs

     

    UK, 2:21am BST

     

    MPs' report criticises Google's tax affairs

     

    12:33am BST

     

    Clearwire urges shareholders to accept Dish offer

     

    12:29am BST

     

    Top UK retailers fail to win 'fair tax mark' - report

    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

    13 June 2013 Last updated at 18:26

     

     

    RBS shares down as Hester departs_68143670_68143331.jpg

     

    RBS sees its share price drop amid speculation that political influence has caused Stephen Hester's departure and on news of further job losses.

     

     

     

    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

    S.E.C. Charges and Fines Revlon for Misleading Shareholders

     

    By PETER LATTMAN 29 minutes ago

     

    The Securities and Exchange Commission announced that Revlon hid crucial information from its independent board members related to a complex corporate finance transaction.

    13dbpix-perelman-sfSpan.jpg

    Yana Paskova for The New York Times

     

    Ronald Perelman, the billionaire financier and Revlon chairman.

     

     

     

    Supreme Court Rules Human Genes May Not Be Patented

     

    By ADAM LIPTAK 1:33 PM ET

     

    The ruling will shape the course of research and testing, and it may alter the willingness of businesses to invest in understanding genetic material.

     

     

    DealBook

     

    dbpix-gracia-martore-thumbStandard.jpg

    Gannett Agrees to Buy Belo for $1.5 Billion

     

    By MICHAEL J. DE LA MERCED and BRIAN STELTER 2:25 PM ET

     

    The Gannett Company agreed to buy the Belo Corporation for about $1.5 billion in cash, in a deal that almost doubles Gannett’s television operations.

     

    Two Ex-Interns Sue Condé Nast Over Wages

     

    By CHRISTINE HAUGHNEY 40 minutes ago

     

    The interns, who worked for W Magazine and The New Yorker, say they were paid less than $1 an hour.

     

    mudoch-media-divorce-thumbStandard.jpg

    After 14 Years of Marriage, Murdoch Seeks Divorce

     

    By AMY CHOZICK 1:27 PM ET

     

    The filing in State Supreme Court says that Mr. Murdoch’s relationship with his wife, Wendi, has “broken down irretrievably.”

     

    14yen-thumbStandard.jpg

    Nikkei Dives More Than 6 Percent

     

    By BETTINA WASSENER 10:26 AM ET

     

    The descent into bear-market territory came amid flagging enthusiasm for Abenomics and investor worry about the Federal Reserve tightening American monetary policy.

     

     

    DealBook

     

    In Fight Over Bank Rules, Regulator Calls for Compromise

     

    By BEN PROTESS 12 minutes ago

     

    Bart Chilton, a Democratic member of the Commodity Futures Trading Commission, called on his agency to strike a compromise over plans to rein in risky trading overseas.

     

    DealBook

     

    video-tc-130612-goldman-thumbStandard-v2.jpg

    Executive Covets Goldman Seat Where a Friend Snugly Sits

     

    By SUSANNE CRAIG

     

    Gary D. Cohn has long been considered the man who will be the next C.E.O. of Goldman Sachs; the problem is the current chief isn’t ready to leave.

     

     

    EUTRADE-thumbStandard.jpg

    Conflicting Goals Complicate an Effort to Forge a Trans-Atlantic Trade Deal

     

    By STEVEN ERLANGER

     

    A pact is considered unlikely, but the desire for economic growth could overcome political problems.

     

     

    13ecig-web1-thumbStandard.jpg

    E-Cigarettes Are in Vogue and at a Crossroads

     

    By LIZ ALDERMAN

     

    The devices that mimic tobacco cigarettes are growing in popularity even as regulators in Europe and the United States weigh their risks.

     

     

     

    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

    RBS brings in head hunter to find replacement for Stephen Hester

     

    RBS_2588550g.jpg

    Sir Philip Hampton has asked one of the City’s best known head hunters to lead the search for a new chief executive for the Royal Bank of Scotland.

    Comments

    Wanted: an RBS boss with a very thick skin

     

     

    Jeremy Warner: Hester will be hugely missed – really?

     

     

    Questor: Now is not the time to buy RBS shares

     

     

    Hester says RBS 'nearly died' as shares dive

     

     

    Britian could make more cars than France

     

    Jag_2589814g.jpg

    Britain is on course to overtake France and become the second-largest car maker in Europe within the next five years, according to two of the industry’s top executives.

    Comments

     

    UK blow as Siemens wins Thameslink deal

     

    bombardier_2589818g.jpg

    Ministers are embroiled in a jobs for British workers row after confirming that Siemens had won the £1.6bn contract to build rolling stock for the Thameslink line.

    Comments

     

    World Bank warns on Fed tightening shock

     

    yuan2_2589839g.jpg

    Emerging markets risk an interest rate shock once the US Federal Reserve and other Western authorities start to withdraw global liquidity, the World Bank has warned.

    Comments

    FTSE 100 edges up as upbeat US data halts sell-off

     

     

    Business news and markets: as it happened - 13 June, 2013

     

     

     

    Centrica takes stake in UK shale licence

     

    fracking-national-_2435450g.jpg

    Centrica has bought a 25pc stake in the Bowland shale exploration licence of fracking firm Cuadrilla to test Britain’s shale gas potential, in a deal worth up to £160m.

    Comments

     

    EU to end mobile roaming charges next year

     

    protect-identity-s_1945617g.jpg

    Consumers will next year be able to use their mobile phones across the European Union for the same price as at home, it is planned, after officials voted to fast-track major reforms of telecoms regulation.

    Comments

     

    EU takes China to WTO in fresh tariff row

     

    steel-pipes_2589405g.jpg

    The European Union is taking China, one of its biggest trade partners, to the World Trade Organization over Chinese tariffs on imported EU stainless steel pipes.

    Comments

     

    Microsoft to open mini-stores

     

    Microsoft is to open mini-stores in one of the world’s largest electronic retailers, as it looks to restore customer confidence in its Windows 8 operating system.

    Comments

    Cameron must intervene in Google tax row, says Hodge

     

     

     

    Argos growing for first time in five years

     

     

     

     

    'Personal issues' behind banks' rejection of SMEs

     

     

     

     

    This crisis has proved that capitalism works

     

    capitalism_2589615g.jpg

    The G8 protesters have little support – there’s no public appetite to blame the free market, says Jeremy Warner

    Comments

    World Bank warns on Fed tightening shock for emerging markets

     

    yuan2_2589839g.jpg

    Emerging markets risk an interest rate shock once the US Federal Reserve and other Western authorities start to withdraw global liquidity, the World Bank has warned.

    Comments

     

    Business news and markets: as it happened - 13 June, 2013

     

    us-jobs_1965018g.jpg

    Better-than-expected US retail sales and jobs data was offset by an unexpected fall in prices for US imports and exports which signalled cooler economic growth worldwide.

    Comments

     

    FTSE 100 edges up as upbeat US data halts sell-off

     

    stocks_2012252g.jpg

    The FTSE 100 edged higher on Thursday after better-than-expected US data fuelled recovery hopes and eclipsed recent worries that the Federal Reserve could soon scale back its stimulus measures.

    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

    Retail Sales: +0.6%

    What do we have in here?

    The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for May, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $421.1 billion, an increase of 0.6 percent (±0.5%) from the previous month, and 4.3 percent (±0.7%) above May 2012. Total sales for the March through May 2013 period were up 3.7 percent (±0.5%) from the same period a year ago. The March to April 2013 percent change was unrevised from 0.1 percent (±0.3%)*.

    Meh -- I think. Let's look inside; I hate that "adjusted for seasonal variation" crap as it's a pure "let's print whatever we want" sort of deal.

    Unadjusted the change was 7.1% (!) m/o/m.

     

    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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    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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