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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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Greece reclassified to 'emerging market' from developed

 

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A major fund manager has reclassified Greece from a developed to an emerging market, in an unprecedented move reflecting the country's "unfortunate economic tailspin".

Comments

Beppe Grillo says Italy may soon have to pull out of euro

 

 

China 'fully prepared' for currency war

 

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China is "fully prepared" for a currency war, according to a top central banking official speaking in Beijing.

Comments

 

MPC to reject calls for more money printing

 

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Bank of England policymakers are expected to reject calls for more quantitative easing this week in what would be seen as a snub for the outgoing Governor, Sir Mervyn King.

Comments

 

Obama signs order to start $85bn budget cuts

 

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Barack Obama has reluctantly ordered an $85bn (£56bn) austerity drive that could slow the US economy and slash jobs, after blaming Republicans for refusing to stop the "dumb" spending cuts.

Comments

US cuts and factory slowdown fuel growth fears

 

 

Obama attacks 'dumb' sequester cuts

 

 

 

Swiss vote 'to crack down on excessive pay'

 

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A plan to limit pay to executives based in Switzerland is expected to be passed today, as people vote on the referendum against “rip-offs” remuneration.

Comments

 

Manufacturing contraction drags down pound

 

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A shock contraction in British manufacturing last month dragged the pound below the psychologically important $1.50 mark for the first time in two-and-a-half-years.

Comments

UK manufacturing shrinks: reaction

 

 

China manufacturing slows in February

 

 

Eurozone unemployment touches fresh high

 

 

 

Lloyds makes £3bn from gilt sales

 

 

 

 

Ryanair to cut down flights from Stansted

 

 

 

 

Negative interest rates - a ruse to ease QE fears?

 

Why the past decade is a bad measure of investment success

 

Negative interest rates - a ruse to ease QE fears?

 

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The suggestion that the Bank of England should charge banks to hold their cash would have serious drawbacks, not least for savers

Comments

It’s a simple choice for bankers – and pay talks

 

 

 

 

US cuts and factory slowdown fuel growth fears

 

 

 

 

What is the US sequester?

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

Outrage as Lloyds loses £570m and then hands £1.5m bonus to boss António Horta-Osório

 

02 March 2013 01:29 AM

Horta-Osorio cashes in as the bailed-out bank's bill for PPI mis-selling scandal tops £6.8bn – and he could get even more

 

 

 

William Hill's online punt

 

02 March 2013 01:29 AM

William Hill's chief executive Ralph Topping said the bookmaker could swell to a £5bn business within five years as it spent £424m yesterday to take full control of its booming online operation.

 

 

 

Sterling takes a new pounding as output slumps and jobs go

 

02 March 2013 01:29 AM

A dire February for Britain's manufacturers gave the pound another torrid day on the currency markets yesterday despite signs of a much-needed revival in business lending.

 

 

 

Blockbuster receives bids to keep it going

 

02 March 2013 01:29 AM

Two restructuring firms are bidding to salvage part of Blockbuster out of administration, raising hopes for staff at the troubled DVD-rental company.

 

 

 

Bertelsmann in control of BMG

 

02 March 2013 01:29 AM

The German media giant Bertelsmann is buying out its joint-venture partner in music-publishing company BMG, thereby giving it full control of a catalogue boasting one million songs by artists including Bruno Mars, Duran Duran and Frank Ocean.

 

 

 

Huge rise in profits at Taylor Wimpey

 

02 March 2013 01:29 AM

The UK's biggest housebuilder, Taylor Wimpey, capped a week of stellar results from the industry as it unveiled a 106 per cent rise in pre-tax profits to £185.3m for 2012 yesterday.

 

 

 

'Subpar' year for Buffett business

 

02 March 2013 01:29 AM

Last year was a "subpar" year for Warren Buffett's Berkshire Hathaway conglomerate, the investor has told shareholders.

 

 

 

WPP 'wins ugly' with record profits

 

02 March 2013 01:29 AM

WPP smashed annual profit records for the second year in a row in 2012 but the advertising giant's chief executive Sir Martin Sorrell yesterday admitted "we got there ugly".

 

 

 

BSkyB's £200m for O2 broadband set-up

 

02 March 2013 01:29 AM

BSkyB made a significant move to grow beyond pay-TV yesterday, paying up to £200m for mobile giant O2's broadband and fixed-line operation.

 

 

 

Sky buys O2's broadband accounts

 

01 March 2013 10:19 AM

Sky is to become the UK's second-largest broadband provider after agreeing a deal today to buy rival O2's half a million customer accounts.

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

2 March 2013 Last updated at 18:27

 

 

Ryanair makes 9% flight cut threat_66148148_stanstedgetty.jpg

 

Airline Ryanair says it plans to cut the number of flights from Stansted Airport by nine per cent.

 

 

_66161421_017376815.jpgObama signs budget cuts into effect

 

US President Barack Obama signs into effect a wave of steep spending cuts after political leaders fail to reach a deal to avert them.

 

 

 

_66163310_000238449-1.jpgRow over Amazon 'rape' T-shirt

 

Internet retailer Amazon is continuing to list clothes from a US firm despite a row over a T-shirt with the slogan "keep calm and rape a lot".

 

 

 

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

George Osborne isolated as even Swiss vote to limit executive pay

 

03 March 2013 12:00 AM

British resistance to a new EU law to cap bonuses could be weakened by the result of today's referendum

 

 

Bank facing crunch call on more QE

 

03 March 2013 12:00 AM

Rate-setters may pump billions more in as Funding for Lending fails to ease economy

 

 

HSBC set to unveil one of the biggest profit hauls in UK banking history with announcement of £15.6bn profits

 

03 March 2013 11:45 AM

Stuart Gulliver is expected to receive a bonus of around £2 million as part of a total pay and benefits package reportedly worth between £6 million and £7 million for 2012

 

 

 

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Women at odds over working from home

 

03 March 2013 12:00 AM

Some say children and productivity suffer

 

 

 

Income inequality is at highest level since the 1930s, says report

 

03 March 2013 12:00 AM

The growing gulf between Britain's top and bottom earners is exposed in a report tomorrow, which shows that there are now 26,000 Britons taking home more in a month than those on average salaries earn in a year.

 

 

 

John Lewis staff to get eight-week bonus

 

03 March 2013 12:00 AM

The John Lewis Partnership is expected to hand its staff a bonus worth more than eight weeks' pay this week and to outline plans to further turn the screws on Middle England rival Marks & Spencer.

 

 

 

Nuclear clean-up bids costing small fortune

 

03 March 2013 12:00 AM

Consortia vying for the contract to decommission £7bn of nuclear waste are spending as much as £1m a month on bidding.

 

 

 

HSBC chief executive sees bonus slashed

 

03 March 2013 12:00 AM

Stuart Gulliver, the boss of HSBC, will see his pay slashed from a maximum £12.5m in the wake of the bank's £1.5bn US fines for acting as a conduit for drug money and sanctions-busting.

 

 

 

Elena Ambrosiadou and Martin Coward back in court

 

03 March 2013 12:00 AM

The one-time glamour couple of the hedge-fund industry, Elena Ambrosiadou and Martin Coward, renew court hostilities on Tuesday in a bitter row over intellectual property.

 

 

 

Aviva £2.3bn in the red after huge loses in sale of US arm

 

03 March 2013 12:00 AM

Aviva will fall deeply into the red this week when it writes off around £2bn from the value of its former US business.

 

 

 

Outrage as Lloyds loses £570m and then hands £1.5m bonus to boss António Horta-Osório

 

02 March 2013 01:29 AM

Horta-Osorio cashes in as the bailed-out bank's bill for PPI mis-selling scandal tops £6.8bn – and he could get even more

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 March 2013 Last updated at 17:49

 

 

Swiss back curbs on executive pay_66174672_66174433.jpg

 

Swiss voters overwhelmingly back proposals to impose some of the world's strictest controls on executive pay, final referendum results show.

 

 

_66173242_66173015.jpgEU 'growth boost from US trade deal'

 

Europe's most senior trade official says that a free-trade agreement between the US and European Union would boost its growth by as much as 1%, leading to many more jobs.

 

 

 

_66173235_142009256.jpgLas Vegas Sands violated bribery law

 

Casino operator Las Vegas Sands says that it probably violated a US law that prohibits bribing foreign officials.

 

 

 

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

As Cuts Begin, Virginia’s Feast on U.S. Funds Nears an End

 

By TRIP GABRIEL

 

Washington and its suburbs are in line to experience the largest economic hit of any region from the $85 billion in sequestration cuts, in large part because of a slashed defense budget.

 

Alaska Airlines, Flying Above an Industry’s Troubles

 

By JAD MOUAWAD

 

 

Born in rugged terrain, Alaska Airlines fortified itself — and has resisted the cycle of bankruptcy and mergers buffeting its industry.

 

 

 

 

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Damon Winter/The New York Times

 

For decades, flights over spectacular Alaskan landscapes could end with devilishly difficult landings.

 

 

 

 

 

 

 

DealBook

 

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Selling the Home Brand: A Look Inside an Elite JPMorgan Unit

 

By SUSANNE CRAIG and JESSICA SILVER-GREENBERG

 

While financial advisers at other firms are typically free to offer a variety of investments, JPMorgan pressures brokers to sell the bank’s own products, current and former employees say.

 

 

In Filing, Casino Operator Admits Likely Violation of an Antibribery Law

 

By MICHAEL SCHWIRTZ

 

The violation is believed to involve former executives with Las Vegas Sands, which is controlled by Sheldon Adelson, and their efforts to expand in China.

 

Cuts to Achieve Goal for Deficit, but Toll Is High

 

By JACKIE CALMES

 

The latest budget impasse ushered in a new round of austerity, with the nation facing reduced federal services, canceled contracts and layoffs from cuts that reduce projected deficits but could hamper the economy.

 

 

Slipstream

 

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Stand Up and Cheer, but Hit ‘Pause’ First

 

By NATASHA SINGER

 

At some sports arenas, fans can now receive multiple video feeds of the action on their smartphones. But what does that do to the communal enjoyment of a live event?

 

 

Novelties

 

Keeping an Eye on Online Test-Takers

 

By ANNE EISENBERG

 

In the widening world of classes taught online, new technologies are helping to ensure that students on distant laptops are doing their own work.

 

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Hungary Tries a Dash of Taxes to Promote Healthier Eating Habits

 

By SUZANNE DALEY

 

In a trend seen across Europe, Hungary has imposed taxes on salt, sugar and the ingredients in energy drinks, hoping to raise revenues and spur healthier eating habits.

 

Off the Shelf

 

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A Grudge Match for Global Finance

 

By FRED ANDREWS

 

In a new book, Benn Steil describes in detail the intellectual back-and-forth that played out in 1944 at the Bretton Woods monetary conference.

 

The Boss

 

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Bringing Music Back to School

 

By PAUL COTHRAN

 

The executive director of VH1 Save the Music Foundation, which helps schools that are facing cuts in music education budgets, says fund-raising is a creative career.

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

Two-thirds of Swiss voters back crackdown on executive pay

 

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Voters in Switzerland have backed some of the world’s toughest controls on executive pay, forcing public companies to give shareholders a binding vote on remuneration.

Comments

EU banker pay cap 'threatens thousands of British jobs'

 

 

Capping banker bonuses avoids facing real bank problems

 

 

Italian old guard plots technocrat takeover

 

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Italy’s president Giorgio Napolitano is exploring the creation of a second technocrat government to break the political log-jam and calm markets after key parties failed to reach an accord.

Comments

Greece demoted to 'emerging market'

 

 

 

Named: Firms making billions of nuisance calls

 

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A string of firms, including major household names, are making millions of unsolicited calls to landlines each year in the hope of gaining business.

Comments

 

Bank of England to mull more stimulus

 

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Bank of England policymakers will take a crucial vote on whether to pump more money into Britain’s stagnant economy this week as it weighs a weak outlook for growth against high inflation.

Comments

 

Passport checks 'hitting shipping industry'

 

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Cruise companies are warning that new “heavy-handed” immigration restrictions imposed on all passengers is hitting the shipping industry and the economy of some of Britain’s most popular tourist attractions.

Comments

 

John Lewis eyes payout as profits hit £415m

 

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John Lewis Partnership is set to hand its staff a bonus worth around 15pc of their annual salary on Thursday when the company reveals its annual profits.

Comments

How John Lewis weathered high street storm

 

 

 

Drinks industry attacks 'unfair pricing plan’

 

 

 

 

Growth in China services sector slows

 

 

 

 

Dozen FTSE 100 firms 'paying no tax'

 

 

 

 

CVC plots £500m bid for McCarthy & Stone

 

 

 

 

Make no mistake, the EU is at war with the City

 

Outbreak of hyperactivity at the BoE shows Mark Carney era is active

 

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A few years ago, Mervyn King revealed an ambition to make monetary policy boring. Some hope.

Comments

Week ahead in business and economics: March 4 - 8

 

 

 

 

Greece demoted to 'emerging market'

 

 

 

 

MPC to reject calls for more money printing

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

Swiss crackdown turns up the global heat on fat cat pay

 

04 March 2013 12:00 AM

Voters overwhelmingly in favour of tough controls on rewards for senior managers

 

 

'Zombie' fears as insolvencies rate falls to lowest for five years

 

04 March 2013 12:00 AM

UK firms are going bust at the slowest rate since the heady pre-credit-crunch era of 2007, credit checking company Experian said today.

 

 

 

Footsie chairmen turn a blind eye to the critics and carry on raking it in

 

04 March 2013 12:00 AM

They are supposed to be the experienced older hands, the seen-it-all-before crew who are sensitive to public mood and who rein in the chief executive when he's getting too exuberant.

 

 

 

City pours scorn on talk of £1.5bn bid for Arsenal

 

04 March 2013 12:00 AM

The City of London reacted with intense scepticism last night to reports that there is an imminent bid £1.5bn for Arsenal from a Middle East consortium.

 

 

 

Carlos-Slim.jpg

2013 Forbes Billionaires list: Record number of new entries appear on rich list, but Carlos Slim and Bill Gates still top the charts

 

04 March 2013 06:38 PM

United States claimed 442 billionaires - a third of the world’s total of 1342

 

 

 

Bank-of-England.jpg

Lending fell by £2.4bn despite credit-boosting scheme

 

04 March 2013 11:33 AM

Grim figures in final quarter but some hope after January upturn

 

 

 

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Debenhams shares crash as department store giant blames snow for profit warning

 

04 March 2013 11:24 AM

Retailer says like-for-like sales slumped by 10% during the 'snow-affected period'

 

 

 

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HSBC boss Stuart Gulliver picks up £7.4m package as bank pays out £2.5bn in bonuses despite 6% fall in profits

 

04 March 2013 04:49 PM

The record $1.9 billion (£1.2billion) US fine over money laundering and a further $2.3 billion set aside for mis-selling in the UK contributed to Europe’s largest bank HSBC disappointing the market today with an unexpected fall in profits.

 

 

 

North-South split grows as London house prices climb

 

04 March 2013 12:00 AM

Further evidence of the widening North-South divide in house prices emerged today as a national survey reveals that three-quarters of the postcodes registering price rises are in London and the South-East.

 

 

 

Burberry and Dior scent success with beauty boutiques

 

04 March 2013 12:00 AM

Beauty boutiques are set to be all the rage for luxury brands as Burberry and Christian Dior begin a hunt for shops to sell their perfume and cosmetics collections in the UK.

 

 

 

Burford set to benefit as legal costs system is shaken up

 

04 March 2013 12:00 AM

The country's biggest financial backer of lawsuits will start writing cheques to cover payments to expert witnesses as soon as radical reforms to litigation costs are introduced next month.

 

 

 

New jobs on offer rise 12 per cent

 

04 March 2013 12:00 AM

Fresh signs of a thaw in Britain's economy emerged from jobs figures that showed the number of new posts in the UK rose by 12 per cent last month.

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

Piper Jaffray says GSK could buy out Theravance

 

8:04pm GMT

 

Toyota sees European profit as revamp bears fruit

 

Japan 7:22pm GMT

 

BP lost again in Arctic deal to ExxonMobil - sources

 

7:12pm GMT

 

British banks cut lending despite Bank of England largesse

 

6:57pm GMT

 

Frozen dishes sales collapse in France, seen lasting

 

6:55pm GMT

 

Jaguar Land Rover to lift investment at UK engine plant

 

UK 6:44pm GMT

 

Exclusive - Goldman eyes Volcker workaround for buyouts

 

6:35pm GMT

 

Elan offers special dividend to fend off Royalty

 

6:33pm GMT

 

Banker bonus claw backs yet to bite at HSBC

 

6:17pm GMT

 

Weak miners knock FTSE on China concerns

 

FXpert 6:04pm GMT

 

CEO of hedge fund firm Lansdowne to retire in June

 

5:56pm GMT

 

Bank of Spain starts proceedings over Santander CEO

 

Spain 5:53pm GMT

 

UK will find EU bank bonus cap hard to lift

 

5:50pm GMT

 

Chief financial ombudsman warns banks' mis-selling pain to last for years

 

5:50pm GMT

 

EU insurance watchdog calls for joint action to counter risk from low interest rates

 

5:50pm GMT

 

Irish Feb deficit falls on sale of Bank of Ireland notes

 

4:59pm GMT

 

Hedge fund firm Lansdowne says Ruddock to retire as CEO

 

4:23pm GMT

 

German union says could call for strike at Lufthansa

 

Aerospace & Defence 4:21pm GMT

 

German car sales plunge as Europe's auto crisis deepens

 

4:00pm GMT

 

EasyJet to cruise into FTSE 100 at next reshuffle

 

Aerospace & Defence, FXpert 3:50pm GMT

 

Berkshire on hunt for more Heinz-like deals - Buffett

 

3:48pm GMT

 

Banks to repay 8 billion euros of ECB crisis loans next week - Reuters poll

 

3:45pm GMT

 

Berkshire on hunt for more Heinz-like deals - Buffett

 

3:35pm GMT

 

Buffett picks Doug Kass as "bear" panelist for annual meeting

 

3:35pm GMT

 

Gas hits five-year high, unplanned outages squeeze supply

 

UK 3:01pm GMT

 

HSBC to raise dividends in show of capital strength

 

2:46pm GMT

 

Denmark wants $1 billion in back-taxes from Microsoft - local radio

 

2:08pm GMT

 

Ireland wants 15-year extension of EU loans - minister

 

1:57pm GMT

 

Keller Group sees US budget cuts slowing down growth

 

12:32pm GMT

 

Government has "real concerns" about EU bonus cap plans

 

David Cameron 12:20pm GMT

 

Bank of Ireland not part of any tracker mortgage talks - CEO

 

12:11pm GMT

 

Carlsberg launches take-over offer for Chinese brewer

 

12:00pm GMT

 

Thomas Cook decides to keep French business

 

11:46am GMT

 

India to seek parliament nod to change tax rules after resolving Vodafone dispute

 

11:44am GMT

 

Bank of Ireland gaining momentum in stabilising economy

 

11:36am GMT

 

Singapore's Temasek raises stake in Spain's Repsol

 

Spain 11:26am GMT

 

Elan offers Tysabri dividend, dismisses Royalty offer

 

11:03am GMT

 

Euro zone factory prices pick up in January on energy surge

 

10:35am GMT

 

Euro zone sentiment falls in March after Italy election deadlock

 

10:31am GMT

 

Analysis - EU needs "who lost Italy" debate on austerity

 

10:21am GMT

 

Euro zone weighs Cyprus bailout and whether depositors should help pay

 

10:21am GMT

 

Construction PMI hits lowest level since October 2009

 

9:41am GMT

 

HSBC hands CEO Gulliver 7.4 million pounds 2012 pay package

 

9:27am GMT

 

Insight - A casualty of the financial crisis: The corporate palace

 

8:59am GMT

 

Singapore's Temasek raises stake in Spain's Repsol

 

Spain 8:52am GMT

 

Stocks fall on China concern, supply drags on oil

 

FXpert 6:39pm GMT

 

CVC appoints ex Lloyds boss Eric Daniels as adviser

 

8:42am GMT

 

Debenhams warns on profit after January snow

 

8:06am GMT

 

Debenhams warns on profit after January snow

 

8:05am GMT

 

Intertek posts profit jump on testing demand

 

7:50am GMT

 

Insurer Amlin returns to profit on lower claims

 

7:40am GMT

 

Keller Group profit nearly doubles on U.S. housing recovery

 

7:32am GMT

 

Ultra Electronics full-year profit little changed

 

7:26am GMT

 

Scotland's Rangers FC report first half loss

 

7:25am GMT

 

Exclusive - China eyes market forces to drive forex reform agenda

 

G20 7:07am GMT

 

Triple dip recession fears raise chance of Bank of England action

 

7:04am GMT

 

Vivendi reaffirms to propose Bollore to supervisory board

 

6:51am GMT

 

Wealthy homebuyers boost tax coffers

 

UK, 6:23am GMT

 

Sony looking to beat Chinese rivals to be No.3 in smartphones

 

5:38am GMT

 

Bank of Japan nominee Kuroda sets out aggressive policy ideas

 

Japan 5:23am GMT

 

Analysis: Alfa Romeo reboot marks tough road for Fiat recovery

 

5:10am GMT

 

Japan central bank eyes QE-style balance sheet expansion

 

Japan 5:05am GMT

 

A study in contrasts between China and Europe

 

3:55am GMT

 

BOJ nominee Kuroda: huge purchases of longer-dated JGBs natural

 

Japan 2:08am GMT

 

Airport capacity crunch to cost UK billions - CBI

 

12:11am GMT

 

MPs seek plan B in case of new nuclear plant delays

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

4 March 2013 Last updated at 19:50

 

 

Banks reduce their lending further_66187300_hi017352662.jpg

 

The number of loans being offered by banks has continued to fall, prompting the business secretary to say its Funding for Lending scheme may need to be improved.

 

 

_66198214_66198153.jpgCivil service union votes to strike

 

The UK's largest civil service union, PCS, votes for strike action over pay and pensions, paving the way for possible walkouts to coincide with the Budget later this month.

 

 

 

_66197142_000216645-1.jpgRolls-Royce paid no corporation tax

 

International engine builders Rolls-Royce paid no corporation tax in the UK in 2012, its annual report reveals.

 

 

 

 

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

A Stealth Tax Subsidy for Businesses Comes Under New Scrutiny

 

By MARY WILLIAMS WALSH and LOUISE STORY 2:11 PM ET

 

 

Many companies are borrowing money for projects using tax-exempt bonds called qualified private activity bonds, costing federal taxpayers hundreds of millions of dollars.

 

Chinese Stocks Fall on Steps to Curb Property Prices

 

By DAVID BARBOZA

 

China’s cabinet, or State Council, said home sellers would soon pay a 20 percent capital gains tax.

 

Wall Street Defies China Concerns

 

By REUTERS 10:04 AM ET

 

Wall Street turned positive despite plans to tighten curbs on the housing market in China.

 

DealBook

 

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Hess to Sell Refining Arm and Revamp Its Board

 

By MICHAEL J. DE LA MERCED 12:25 PM ET

 

The Hess Corporation said on Monday that it planned to sell its retail, refining and processing businesses and alter its board in a bid to shake up its operations and fend off activist investors.

 

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Obama Announces 3 Cabinet Nominations

 

By JACKIE CALMES and JOHN M. BRODER 12:39 PM ET

 

President Obama on Monday revealed his choices to take top posts on the budget, energy and the environment.

 

DealBook

 

Buffett Picks His ‘Bear’ for Annual Meeting

 

By PETER LATTMAN

 

Warren E. Buffett announced on Monday that Doug Kass, a hedge fund manager, would be added to the panel of analysts who question him and Berkshire’s vice chairman, Charles T. Munger, on stage during Berkshire Hathaway’s annual gathering in Omaha on May 4.

 

Recovery in U.S. Is Lifting Profits, but Not Adding Jobs

 

By NELSON D. SCHWARTZ

 

Experts estimate so-called budget sequestration could cost the country about 700,000 jobs, but Wall Street doesn’t expect the cuts to substantially alter corporate profits or threaten stock markets.

 

 

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Central Bank Nominee Pledges 'Whatever Is Needed' for Japan

 

By HIROKO TABUCHI

 

Haruhiko Kuroda is set to spearhead a crucial part of Prime Minister Shinzo Abe's three-pronged plan to spur economic growth if he is confirmed to lead the Bank of Japan.

 

As Hacking Against U.S. Rises, Experts Try to Pin Down Motive

 

By NICOLE PERLROTH, DAVID E. SANGER and MICHAEL S. SCHMIDT

 

Motives for a cyberattack, which could range from industrial spying to disabling the power grid, remain obscure.

 

 

 

 

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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End National Review Idiots

 

National Review opens its mouth and proves its idiocy, all in just a few short paragraphs.

Senator Bob Corker, a wealthy businessman, is one of the savviest Republicans on all things financial. Before passage of the Dodd-Frank banking-reform law, the Tennessee Republican worked with Democrats, albeit unsuccessfully, to fashion a bipartisan bill. So considering Corker’s obviously high financial IQ, one would be forgiven for thinking that his bombastic questioning of Ben Bernanke last week was a rhetorical ploy or ruse. Within just a couple of minutes at a Senate Banking Committee hearing, Corker accused the Federal Reserve chairman of stimulating a “currency war,” creating a “faux wealth effect,” monetizing the federal debt, and being the central bank’s “biggest dove” since World War II.

What was that all about? A generous interpretation: Perhaps Corker employed wild misrepresentation in order to lob some softballs that the Federal Reserve chairman could easily knock out of the park. Perhaps Corker was a wily co-conspirator in the drama, playing the role of fierce but uninformed critic of the Fed only to give his man Bernanke an easily crushable foil. Some senatorial strategery!

Notice the article begins with an unsolicited (and unearned) sarcastic ad-hominen attack in the first sentence.

But what's worse is the utterly false claims that follow.

First, the premise that "bond buying" can somehow resurrect the economy is a false one presented without a shred of evidence of its efficacy. Indeed, all evidence is that it either does nothing or does harm, not help.

 

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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So What Happens When They CAN'T?

This is amusing, really.

Haruhiko Kuroda said that the Bank of Japan (8301) will do whatever is needed to end 15 years of deflation should he be confirmed as governor and indicated that open-ended asset purchases could start sooner than next year.

“I would like to make my stance clear that we will do whatever we can do,” Kuroda, president of the Asian Development Bank, said at a confirmation hearing in the parliament in Tokyo today. The central bank hasn’t bought enough assets and should consider buying large amounts of longer-term bonds, he said.

We've heard this before.

Indeed, we've heard this for 20 years. How has it turned out?

Then you have Bernanke, who over the weekend said some very intresting things about long-term interest rates....

 

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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HSBC first British bank to be given capital 'green light' by regulators

 

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HSBC has become the first British bank to be given the green light by the financial regulator on its capital position, ahead of a report expected to identify shortfalls at several lenders.

Comments

Big banks pull £1.88bn from economy

 

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Just 13 banks used the Bank of England’s state-backed Funding for Lending cheap credit scheme in its first five months and, between them, have taken £1.88bn of credit out of the economy, official figures show.

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'Funding for Lending': Winners and losers

 

 

Funding for Lending fails to boost lending - reaction

 

 

Bank of England to mull more stimulus

 

 

 

Landowne boss retires for the arts

 

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Sir Paul Ruddock, one of the country’s top financiers and a major Tory party donor, is retiring as chief executive of Lansdowne Partners, the hedge fund he co-founded in 1998, to devote his time to the arts and charity.

Comments

 

Groupon's ex-chief Mason gets $378.36 payoff

 

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Andrew Mason had a basic salary of $756.72 and will get six months pay after being fired.

Comments

 

SFO ex-chief criticised over £1m of payments

 

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The former head of the Serious Fraud Office has been heavily criticised for allegedly sanctioning almost £1m of severance payments to three departing colleagues without getting the necessary approvals.

Comments

 

Amlin back in black as catastrophe claims fall

 

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Lloyd's of London insurer Amlin has returned to the black, raised its dividend and made a bolt-on buy after seeing a near-£350m reduction in catastrophe claims last year.

Comments

 

US housing recovery helps Keller double profit

 

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Keller, the global engineering group, said the US housing recovery helped its annual profits to double despite slumping European markets.

Comments

 

Japan pledge for bold action sparks currency war fears

 

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The man set to head Japan’s central bank has pledged to do “everything possible” to propel the country out of its deflation trap, raising fears that a falling yen will spark a currency war.

Comments

Banks withdraw £1.88bn from economy, offsets rise in lending

 

 

 

 

'Funding for Lending': Winners and losers

 

 

 

 

BoE: Funding scheme 'working as intended'

 

 

 

 

Europe faces an impossible challenge - why can't Olli Rehn see it?

 

Brave Ireland is the poster-child of EMU cruelty and folly

 

What would Volcker say about HSBC's investment bank?

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

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.

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Share on other sites

George Osborne opposes EU's planned cap on bankers' bonuses

 

05 March 2013 06:56 PM

Brussels plans to limits bonuses to 100 per cent of salary - or twice that with shareholder approval

 

 

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Boom-time for world markets as FTSE reaches five-year high and Dow Jones hits all-time high

 

05 March 2013 05:52 PM

World markets continued to shrug off economic worries today as London's FTSE 100 Index closed at its highest level since January 2008.

 

 

 

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Outrage as HSBC hands £2m bonus to chief Stuart Gulliver after fine in US

 

05 March 2013 12:00 AM

Two hundred are paid more than £1m despite sanctions-busting exposure

 

 

 

Hurricane Sandy’s ill wind is good news for Ashtead

 

05 March 2013 01:05 PM

Cleaning up the devastation left by Hurricane Sandy last November has led to booming revenues in the US, plant-hire firm Ashtead said today.

 

 

 

Glencore bosses' £270m dividend payouts despite profits dive

 

05 March 2013 01:02 PM

The top five directors in Glencore will collectively pocket about $410 million (£270 million) in dividends after the commodities trading giant - and its impending merger partner Xstrata - both revealed tumbling profits for 2012.

 

 

 

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Jaguar Land Rover create 700 jobs at Wolverhampton factory

 

05 March 2013 07:53 AM

Car giant Jaguar Land Rover today gave the economy a huge boost by announcing plans to create 700 new jobs and £165 million of extra investment.

 

 

 

Former Lloyds chief Eric Daniels lands private equity job

 

05 March 2013 12:00 AM

Eric Daniels, the former chief executive of Lloyds Banking Group, showed yesterday that being discredited in the public eye is no barrier to lucrative new roles in finance.

 

 

 

Npower's profits surge after winter price rise

 

05 March 2013 07:54 PM

The energy giant npower posted a 34 per cent leap in annual profit to €480m (£414m) last year, less than four months after hitting customers with an inflation-busting price rise. It increased its UK electricity prices by nine per cent in November, and put up gas bills by 8.8 per cent, pushing the average customer’s dual fuel bill up by more than £100 to £1,352 a year.

 

 

 

Deficit-cutting off course as Spain's jobless total climbs

 

05 March 2013 12:00 AM

Spanish unemployment hit a record 5.04 million after another 60,000 rise in the jobless count in February.

 

 

 

Warren Buffett advises Apple boss Cook over David Einhorn

 

05 March 2013 12:00 AM

Warren Buffett has advised Apple boss Tim Cook to "ignore" David Einhorn, the hedge-fund manager who has been pressing for the technology firm to return some of its giant $137bn cash pile to shareholders.

 

 

 

Rangers posts loss and asks to play in England

 

05 March 2013 12:00 AM

Rangers yesterday pinned its hopes on regular battles with clubs such as Manchester United and Chelsea as it reported a £7m loss.

 

 

 

Sir Paul Ruddock to leave Lansdowne

 

05 March 2013 12:00 AM

Sir Paul Ruddock, one of the world's best-known hedge fund managers, is to step down from Lansdowne Partners later this year. The 54-year-old, who co-founded the company with Steven Heinz in 1998, will leave in June to focus on his work in the arts and on charity work.

 

 

 

PPI drives surge in complaints to Financial Ombudsman

 

05 March 2013 12:00 AM

Complaints to the Financial Ombudsman more than doubled in the second half of 2012 to a record 283,251, a 110 per cent increase over the first six months.

 

 

 

Former SFO chief Richard Alderman to be questioned by MPs

 

05 March 2013 12:00 AM

Richard Alderman's tenure as head of the Serious Fraud Office will fall under the spotlight this week when he appears before the Public Accounts Committee.

 

 

 

Amlin blows back into black as the storms die down

 

05 March 2013 12:00 AM

Amlin had Mother Nature and a bit of good old-fashioned discipline to thank as it swung back into the black last year. The largest Lloyd's of London insurer said yesterday that fewer catastrophe claims and selective underwriting helped it post a pre-tax profit of £264.2m in 2012, compared with a £193.8m loss a year earlier.

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

5 March 2013 Last updated at 17:13

 

 

World stock markets hit new highs_66216768_66216457.jpg

 

New York's Dow Jones share index sets a new all-time high on Tuesday, while London's FTSE 100 closes at it highest level in five years.

 

All Hail the BUBBLE

 

 

_66204286_124815542.jpgSaudi prince in Forbes list dispute

 

Saudi Arabia's Prince Alwaleed Bin Talal accuses Forbes magazine of understating his wealth as he severs ties with the magazine.

 

 

 

PPI complaints rise 'unprecedented'

 

The financial ombudsman service is taking on 2,000 new cases a day following PPI complaints, with numbers rising at "unprecedented" rates.

 

 

 

 

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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