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The great interest rate rip off part 9


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Hyundai's South Korea labour woes strike again

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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Government Charges Two Former JPMorgan Employees

 

By BEN PROTESS and JESSICA SILVER-GREENBERG 10:58 AM ET

 

Federal authorities announced criminal charges against two former JPMorgan Chase employees, Javier Martin-Artajo and Julien Grout, who are accused of disguising losses on a trade.

15eurozone-thumbStandard.jpg

Euro Zone Economy Grew 0.3% in 2nd Quarter, Ending Recession

 

By DAVID JOLLY 9:32 AM ET

 

The growth figure for the 17-nation currency zone was better than expected, largely because of strong performances by Germany and France.

 

 

Divining the Regulatory Goals of Fed Rivals

 

By BINYAMIN APPELBAUM

 

For supporters of stronger regulation, it comes down to a choice between someone they don’t know, Janet Yellen, and someone they don’t trust, Lawrence H. Summers.

 

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Oil Reforms by Mexico May Upend Markets

 

By CLIFFORD KRAUSS

 

The suggested policy changes could reinvigorate the country’s oil industry and ease American dependence on OPEC, experts say.

 

BP Sues U.S. Over Contract Suspensions

 

By STANLEY REED

 

The suit seeks to overturn a ban that was imposed by the Environmental Protection Agency in November.

 

DealBook

 

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Justice Dept. Files Antitrust Suit to Block Airline Merger

 

By JAD MOUAWAD

 

The complaint said the proposed deal between American Airlines and US Airways, which would create the nation’s biggest airline, would threaten competition and drive up ticket costs.

 

 

DealBook

 

Paulson Agrees to Buy Steinway for $512 Million

 

By WILLIAM ALDEN 10:00 AM ET

 

Paulson & Company has agreed to buy Steinway Musical Instruments for about $512 million. That means that Kohlberg & Company, which previously agreed to buy Steinway, will be watching from the orchestra seats.

 

DealBook

 

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A Wall St. Brawler’s Winning Qualities Also Play Out in Defeat

 

By MICHAEL J. DE LA MERCED and STEPHANIE CLIFFORD

 

William A. Ackman’s defeat at J.C. Penny may highlight not only the flaws of his approach but also the limits of what shareholder activists can achieve.

 

 

 

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

Bank of England split over Mark Carney's new interest rate plan

 

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The Bank of England is expected to take further action to ensure interest rates remain low after last week’s pledge failed to sway the market.

45 Comments

BoE warned Help to Buy may cause bubble

 

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The Bank of England has been warned that the Government’s subsidised mortgage scheme has already started to drive up house prices due to a shortage of properties for sale.

3 Comments

Fitch warns against RBS break up

 

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The cost of splitting Royal Bank of Scotland into a “good bank” and a “bad bank” would outweigh the benefits, according to Fitch Ratings.

Comment

Two charged in 'London Whale' scandal

 

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US prosecutors in Manhattan have accused two former JPMorgan Chase employees who worked in London of wire fraud and a conspiracy to falsify books and records.

 

BRC abandons call for business rates freeze

 

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The British Retail Consortium has called for the annual increase in business rates to be capped at 2pc as high streets across the UK struggle under the weight of extra tax payments.

Comment

UK unemployment holds steady at 7.8pc

 

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UK unemployment held steady in the second quarter at 7.8pc, but official data show that inflation continues to outpace wage increases.

71 Comments

npower warns of job losses

 

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Energy giant npower has warned of job losses as it embarks on a major cost-cutting overhaul of its operations.

Comment

O2 and Arqiva win smart meter contracts

 

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O2 and Arqiva have landed contracts worth more than £2.1bn to run crucial communications networks for the Government’s ambitious plan to install a “smart” meter in every British home.

Comment

TSB to launch online banking for 5m customers

 

 

 

 

Novartis dragged into China bribery scandal

 

 

 

 

 

Spanish youth look abroad for jobs

 

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In Spain the news that Europe's longest-ever recession had come to an end was met with some scepticism by the man on the street.

Comment Portugal emerges from recession grappling with political uncertainty

 

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Portugal has emerged from two and a half years of deep recession, according to initial data released on Wednesday but with political uncertainty and the promise of more austerity ahead, the nation isn't out of the woods yet.

Comment

Mark Carney ties interest rates to the UK's 'known unknown'

 

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One of the toughest conundrums in economics is Britain’s “productivity puzzle”. Why do companies need more staff today to produce the same amount as they did yesterday?

1 Comment

Germany's low unemployment rate hides real hardship

 

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The health of the German economy may improve Angela Merkel's chances of winning next month's elections, but on the streets of Berlin there was scepticism about whether the increased growth would bring widespread prosperity.

1 Comment

Business news and markets: as it happened - August 15, 2013

 

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The eurozone has emerged from its longest recession on record after the economy grew more than expected in the second quarter.

 

BoE gave Mervyn King a £23,000 send-off

 

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Lord King, the former governor of the Bank of England, was presented with a £10,000 painting of himself as a leaving present when he stood down from the role.

Solar power to trump shale, helped by US military

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Breaking news

 

 

 

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

15 August 2013 Last updated at 18:25

 

 

Hot weather boosts July retail sales_69296107_69296098.jpg

 

Retail sales in the UK jumped by 1.1% between June and July, boosted by hot weather and adding to hopes of a sustained economic recovery.

 

 

_69294324_133859167.jpgNew home starts in England up 6%

 

The number of new homes being built in England rose by 6% in the three months to June, according to government figures.

 

 

 

_69301925_kritterwithcircleinfopackage.jpgIkea warns of unsafe children's beds

 

The furniture chain Ikea is recalling thousands of children's beds, because of a design fault.

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

U.S. jobs, inflation data support tapering of Fed bond buying

 

8:02pm BST

 

Boeing raises sticker prices of commercial jets

 

7:52pm BST

 

Credit Suisse moving tech banking head Wah to Silicon Valley

 

7:22pm BST

 

L'Oreal offers $840 million for Chinese skincare company

 

6:52pm BST

 

Ackman is gone but options market sees more risk for JC Penney

 

6:51pm BST

 

U.S. jobs, inflation data support tapering of Fed bond buying

 

6:06pm BST

 

Buffett's Berkshire buys Suncor, Dish as stock bet grows | btn_rel_video.gif

 

6:05pm BST

 

Evacuations start at some Gulf of Mexico operations on storm threat

 

5:59pm BST

 

Britain's Asda says sales growth slows in tough grocery market

 

5:52pm BST

 

Libya says main oil facilities still crippled by protest

 

5:34pm BST

 

Turkey's Yildiz halts production in Egypt, others may follow

 

5:14pm BST

 

FTSE has worst one-day fall in nearly two months

 

FXpert 4:56pm BST

 

U.S. jobs, inflation data support tapering of Fed bond buying

 

4:25pm BST

 

Ryanair sacks pilot for questioning safety on TV

 

Aerospace & Defence 4:09pm BST

 

Analysis - One swallow doesn't make a summer for euro zone

 

3:22pm BST

 

IAG sticks with Airbus to revamp short-haul fleet

 

Aerospace & Defence, Spain 3:18pm BST

 

Wal-Mart sales disappoint as shoppers worldwide curb spending

 

3:12pm BST

 

Summer heat wave sets retail sales alight in July | btn_rel_video.gif

 

UK 3:07pm BST

 

Jaguar recalls 2,929 cars in US for stalling and window issues

 

3:00pm BST

 

BP's tough talk will backfire, Gulf spill lawyer says

 

2:35pm BST

 

No rest for Collardi as Julius Baer grapples with Merrill

 

2:23pm BST

 

Emblaze proposes takeover of Israel's debt-ridden IDB

 

2:20pm BST

 

Analysis - Lower crop prices a pain for Deere, but farmers are fine

 

1:32pm BST

 

Shell closes Egypt offices, curbs business travel there

 

1:10pm BST

 

July frosts reduce Brazil wheat, coffee output - state

 

1:04pm BST

 

Crippling debts and bankruptcies brew Vietnam coffee crisis

 

12:41pm BST

 

Dark history hangs over tycoon's plan for Balkan mega-mall

 

World 12:19pm BST

 

China could target oil firms, telecoms, banks in price probes - report

 

11:38am BST

 

Japan signals corporate tax cut a long shot as deflation eases

 

Japan 10:54am BST

 

Ford Europe sees no quick end to price wars

 

10:05am BST

 

Instant view - UK retail sales jump more than expected in July

 

UK, 9:57am BST

 

BT and Virgin agree to three-year sports wholesale deal

 

9:16am BST

 

Exxon, Shell advance in Newfield's Asia auction - sources

 

8:48am BST

 

With balloons and fibre, Google experiments in Web access

 

8:43am BST

 

Japan economy minister - will prioritize capex tax breaks over corporate tax cut

 

Japan 7:43am BST

 

H&M comparable sales fall in June for first time since March

 

7:38am BST

 

Global shares, bonds slide on U.S. economic data

 

FXpert, 7:47pm BST

 

Imperial Tobacco's volume decline steepens in third quarter

 

7:22am BST

 

Ex-bosses at JPMorgan unlikely to face charges in 'Whale' scandal

 

6:23am BST

 

Hong Kong's Richard Li to tap ex-AIA deputy as new insurance CEO - sources

 

5:08am BST

 

Cisco cutting 4,000 jobs, CEO sees slow progress

 

4:37am BST

 

Analysis - Asia's great investor rotation flows to North from South

 

Japan 4:30am BST

 

Japan govt spokesman: No truth PM Abe instructed corporate tax cut

 

Japan 3:12am BST

 

Soros dumps US Airways, Tiger Consumer likes Facebook

 

Aerospace & Defence 3:10am BST

 

Brazil's Batista gives up control of superport operator LLX

 

2:24am BST

 

US Air, American vow to fight U.S. government over merger

 

Aerospace & Defence 1:25am BST

 

U.S. judge in airline mega-merger once ran Microsoft case

 

Aerospace & Defence 1:25am BST

 

Apple faces possible May 2014 trial on e-book damages

 

12:55am BST

 

US Air, American vow to fight U.S. government over merger

 

Aerospace & Defence 12:53am BST

 

Antitrust challenge could send AMR bankruptcy back to square one

 

Aerospace & Defence 12:53am BST

 

Asia investors grapple with shortage of shorter bonds as Fed jitters grow

 

12:49am BST

 

Soros raises JC Penney stake but two big investors exit in second quarter

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

JPMorgan duo facing 'London Whale' charges

 

15 August 2013 12:00 AM

US prosecutors target former traders at London-based unit that racked up huge losses

 

 

 

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Heatwave boosts high street sales

 

15 August 2013 12:58 PM

Soaring temperatures boosted sales of food, alcohol and clothing in July to fuel hopes over the recovery in consumer spending.

 

 

 

Last blow from ENRC before it is taken over

 

15 August 2013 12:00 AM

ENRC, the scandal-struck Kazakhstan miner beset by corruption allegations and boardroom bust-ups, offered shareholders one final disappointment yesterday with poor results ahead of being taken private.

 

 

 

US giants pull out of bid to run MoD buyer

 

15 August 2013 12:00 AM

A heavyweight team of US engineering giants has pulled out of the race to run the £14bn Ministry of Defence agency that buys the army's tanks and missiles.

 

 

 

Three win £2.8bn slice of smart grid work

 

15 August 2013 12:00 AM

Capita, Spain's Telefonica and the UK unit of CGI, formerly known as Logica, are among the winners after the Government announced the preferred suppliers for £2.8bn worth of contracts to set up and run Britain's new smart grid.

 

 

 

Bank's bumper send-off for Sir Mervyn King

 

15 August 2013 12:00 AM

Sir Mervyn King received a £10,000 portrait of himself and other retirement presents worth £3,000 from the Bank of England last month, it emerged yesterday.

 

 

 

More trouble for Dreamliner

 

15 August 2013 12:00 AM

Boeing's new Dreamliner jet, which was grounded for four months after catching fire, faced further turbulence yesterday when problems emerged with the engine fire extinguishers.

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

Markets fall and borrowing costs rise on taper fears after jobs report

 

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US borrowing costs have spiked as upbeat economic data suggest the Fed could start tapering QE as soon as next month.

1 Comment

Gulf spill lawyer: 'BP treats US as a colony'

 

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The lawyer who represented more than 100,000 people in a settlement with BP over the 2010 Gulf of Mexico oil spillage has accused the company of viewing the US as a colony it can exploit.

31 Comments

Ryanair sacks pilot over Channel 4 show

 

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Ryanair has sacked a senior pilot and is preparing legal action against him over “defamatory” comments he made about the airline’s safety policy in a Channel 4 documentary.

9 Comments

Retail sales boosts recovery hopes

 

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British retail sales rose at their fastest annual rate in over two years in July as a heatwave boosted sales of barbecue food and outdoor items.

4 Comments

 

Number of new homes being built rises 6pc

 

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The number of new homes being built in Britain is on the rise, but Government claims of policy success were met with concerns it is not enough to stop prices climbing further out of reach for many.

3 Comments

New car price war to continue for some time

 

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The price war between European car manufacturers is likely to continue for some time, the head of Ford Europe’s sales division has said, as dealers have no choice but to sacrifice profit to shift volumes.

Comment

Buffett bets on cars, banks and satellite TV

 

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Billionaire investor Warren Buffett has made a big bet on a better outlook for banks, spending more than $3bn (£1.9bn) buying shares in some of America’s largest lenders.

1 Comment

 

BT Sport signs wholesale deal with Virgin

 

 

 

 

Blockbusters and price rises boost Cineworld

 

 

 

 

Egypt unrest pushes oil price above $111

 

 

 

 

It's time to stop calling student loans a loan If something cannot go on forever, then it will stop

 

Wongaland is a fictional place

 

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There is no new consumer debt bubble and households are not 'plundering their savings'.

Comment Strong data sparks market sell-off on fears stimulus is over

 

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Stock markets across the world slumped and government borrowing costs soared after strong economic data from the US and the UK renewed fears that central banks would soon start withdrawing stimulus and move towards interest rate rises.

1 Comment

Global markets fall while borrowing costs rise on taper fears after jobs report

 

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Global equity markets fell and bond yields rose on Thursday after slightly upbeat US jobs data and gains in consumer prices added weight to the view the Federal Reserve will soon begin to trim its bond-buying program.

6 Comments

Business news and markets: as it happened - August 15, 2013

 

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Chinese authorities have announced they are widening their probe into pricing across all industries that have an impact on the lives of ordinary people in China.

 

China millionaires suffer as economy slows

 

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China's millionaires increased at their slowest rate in five years in 2012 as the economy and markets stumbled.

2 Comments

Heatwave sets retail sales alight and boost recovery hopes

 

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July's barbecue weather sparked the sharpest monthly growth in retail sales in two years, giving Britain’s recovery hopes another solid boost.

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

Wal-Mart Lowers Outlook as Buyers Stick to Essentials

 

By STEPHANIE CLIFFORD 11:38 AM ET

 

 

The company blamed sluggish second quarter results on payroll-tax increases and a reluctance by consumers to spend on discretionary items.

 

 

 

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Rick Wilking/Reuters

 

Wal-Mart attributed the sluggish results in the United States to the payroll-tax increases, a lack of expected inflation in food, and reduced consumer spending.

 

 

 

 

 

 

 

Markets Slide as Wal-Mart Leads a Sell-Off

 

By REUTERS

 

Stocks fell on Thursday on continued uncertainty over the next policy move by the Federal Reserve and after Wal-Mart earnings disappointed investors.

 

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Old Economies Rise as Growing Markets Begin to Falter

 

By NATHANIEL POPPER

 

Economies in Japan and the United States are growing and Europe appears to be easing away from a recession just as growth is slowing in Brazil, Russia, India and China.

 

 

The Challenge of Helping the Uninsured Find Coverage

 

By ABBY GOODNOUGH

 

“Navigators,” created under the new health care law to educate consumers about health insurance options, are seen as crucial to the success of the law.

 

 

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Intermittent Nature of Green Power Is Challenge for Utilities

 

By DIANE CARDWELL

 

When a Vermont wind farm was required to cut back generation, the episode prompted a larger debate about the alternative energy’s place in the nation’s power supply.

 

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Appeals Court Blocks Attempt by Vermont to Close a Nuclear Plant

 

By MATTHEW L. WALD

 

In a victory for the owners of the Vermont Yankee plant, the court ruled that nuclear safety was the responsibility of the federal government.

 

DealBook

 

Rocky Market Debut for Third Point Reinsurance

 

By MICHAEL J. DE LA MERCED 15 minutes ago

 

The reinsurance arm of Third Point, the hedge fund run by Daniel S. Loeb, opened at $12.25 a share, below its initial public offering price, before rebounding.

 

DealBook

 

15chase-web-thumbStandard.jpg

Government Charges Two Former JPMorgan Chase Employees

 

By BEN PROTESS and JESSICA SILVER-GREENBERG 11:28 AM ET

 

Federal authorities announced criminal charges against Javier Martin-Artajo and Julien Grout, who are accused of disguising losses on a trade.

 

 

GARY-1-thumbStandard.jpg

A Chance to Own a Home for $1 in a City on the Ropes

 

By STEVEN YACCINO 11:24 AM ET

 

A third of the houses are unoccupied in Gary, Ind., which has lost more than half its population in the last half-century. Gary hopes to lift its haggard tax base by selling homes for $1.

 

 

 

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

CPI: +0.2%

From the Bureau of Lies:

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in July on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.0 percent before seasonal adjustment.

The rise in the seasonally adjusted all items index was the result of increases in a broad array of indexes including shelter, gasoline, apparel, and food. Despite the gasoline increase, the energy index rose only 0.2 percent as the natural gas and electricity indexes declined. The increase in the food index was caused by a sharp rise in the fruits and vegetables index; other food indexes were mixed.

I love this so-called "report" every month.

The problem with it is that I can't find how it matches with reality.

Let's just take one example. Bacon.

Until a month or so back it was trivially easy to find a pound of bacon, as a name brand, for about $4. You had to shop because one store would have it but another would want $5 or $6 for the same thing, but if you made any sort of effort at all you could find the store selling the identical product for $4.

 

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.

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

Rothschild daughter Hannah joins RIT Capital Partners board

 

16 August 2013 12:52 PM

Lord Rothschild today appointed his eldest daughter Hannah to the board of his £2 billion investment company RIT Capital Partners.

 

 

 

Comet set to rise again as new chain of electrical stores

 

16 August 2013 12:51 PM

A chain of electrical stores under the Comet name is to be launched in a bid to fill the gap in the market left by the now-defunct retailer.

 

 

 

FTSE set for second week of losses thanks to US jitters

 

16 August 2013 12:48 PM

London’s FTSE 100 was on course for its second losing week in a row today as fears over the US Federal Reserve slowing the pace of money-printing lingered in City dealing rooms.

 

 

 

Container shipping line Maersk's shares jump 7%

 

16 August 2013 12:39 PM

Shares in the world’s biggest container shipping line jumped more than 7% today as it reported a sharp improvement in world trade in the latest quarter.

 

 

 

Imperial hit by smugglers and fakes

 

16 August 2013 12:00 AM

Smokers in the debt-laden countries of southern Europe are consuming ever more smuggled, fake and roll-your-own cigarettes, according to the latest quarterly update from Imperial Tobacco.

 

 

 

Rank feels heat after mixed year

 

15 August 2013 11:51 PM

July's heatwave kept all but the hardiest punters away from the gaming group Rank's Mecca bingo halls and Grosvenor casinos.

 

 

 

SIG gets caught cold as extended winter takes effect

 

15 August 2013 11:51 PM

The wrong kind of chill hit trading at SIG, one of Britain's biggest insulation and roofing firms, during the first half of 2013.

 

 

 

Sales growth at Asda slows down

 

15 August 2013 11:51 PM

The chief executive of Asda has mounted a vigorous defence of its performance and strategy after the supermarket chain revealed that sales growth had slowed in the second quarter.

 

 

 

Retail boosts confidence: Strong July for shoppers casts doubt on Bank of England strategy

 

15 August 2013 11:51 PM

A surge in retail sales in July has bolstered the City's confidence in the British recovery and cast more doubt over the credibility of the Bank of England's pledge to keep interest rates down for three years.

 

 

 

Buffett backs Canadian oil sands boom

 

15 August 2013 11:51 PM

Warren Buffett's Berkshire Hathaway is betting on Alberta's oil sands boom, buying a stake in the Canadian-based energy giant Suncor, according to regulatory filings.

 

 

 

Former owner of Comet collects £54m

 

15 August 2013 11:51 PM

Nick Goodway

 

 

 

'Popcorn index' helps Cineworld profits jump

 

15 August 2013 11:51 PM

Les Misérables and Iron Man 3 helped Cineworld post a 24.1 per cent jump in pre-tax profits to £16.5m in the six months to June.

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

Judge tosses out Icahn's fiduciary claims against Dell Inc

 

6:46pm BST

 

U.S. consumer confidence dips; housing starts miss forecasts | btn_rel_video.gif

 

6:42pm BST

 

Exclusive - FDA says working with Merck, USDA on cattle drug Zilmax

 

6:28pm BST

 

Merck says no safety issues found in Zilmax cattle product

 

6:19pm BST

 

Steeled for change: China's bloated industry to face market forces

 

5:31pm BST

 

EU requests WTO panel on Chinese duties on steel tubes

 

5:28pm BST

 

FTSE creeps higher, technical levels lend support

 

FXpert 5:03pm BST

 

As Indian rupee hits another record low, foreign investors baulk

 

3:17pm BST

 

Sarepta shares jump after disappointing test for rival drug

 

3:07pm BST

 

J.C. Penney, Ackman set terms for future share sales

 

2:30pm BST

 

Juiciest plays may have been already squeezed

 

2:16pm BST

 

Bricks and finance shortages frustrate British housing hopes

 

UK 1:22pm BST

 

Europe set ‘illusionary' deadline for bank health checks - source

 

1:19pm BST

 

TDF disappointed by bids for its French unit - sources

 

1:13pm BST

 

European car market grew nearly 5 percent in July - Germany's VDA

 

12:53pm BST

 

Anglo appoints Hennie Faul as CEO of copper business

 

12:18pm BST

 

Stada buys British OTC manufacturer Thornton & Ross

 

11:45am BST

 

As Indian rupee hits record low, foreign investors baulk

 

11:40am BST

 

Analysis - Economic recovery increases PM Cameron's political capital

 

UK, Gordon Brown, David Cameron 11:37am BST

 

IAG says to make early payment of bonds worth 350 million pounds

 

11:26am BST

 

Banks to repay 654 million euros of ECB crisis loans

 

11:20am BST

 

Euro zone trade surplus widens in June, inflation flat in July

 

11:07am BST

 

Goldman, Morgan Stanley in talks to buy stake in China's Huarong - FT

 

10:34am BST

 

China's new economic zone fails to draw HK property tycoons

 

10:09am BST

 

At least one bid qualified for £4.7 billion South Korea fighter jet deal

 

World, Aerospace & Defence 9:47am BST

 

Japan July exports expected to jump on weak yen

 

Japan, Nuclear Power 9:35am BST

 

U.S. Treasury yields at two-year high; stocks head for weekly loss

 

FXpert, 7:33pm BST

 

China moves further towards milk powder sector consolidation - paper

 

6:54am BST

 

NZ's Fonterra suspends two managers ahead of inquiry

 

6:40am BST

 

China, Japan lead record outflow from U.S. Treasuries in June

 

Japan 5:08am BST

 

BHP faces possible U.S. anti-corruption enforcement action

 

3:37am BST

 

Morgan Stanley sees pound at $1.48 - Bloomberg

 

1:27am BST

 

BHP faces enforcement action by U.S. on corruption probe

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

http://www.telegraph.co.uk/finance/bank-of-england/10241750/Mark-Carney-may-have-to-relaunch-QE-to-keep-down-interest-rates.html

 

Top economists said the Monetary Policy Committee (MPC) could relaunch quantitative easing (QE) within months if markets did not move into line with the “forward guidance” unveiled by Governor Mark Carney last week.

 

..

 

Mr Clarke said: “The Bank issued forward guidance to nurture the recovery. If the market undermines it, I don’t think they’ll hesitate to send more smoke signals out at the very least, or flex their muscles and do more QE. If the Governor moves, he’ll probably bring several of the committee with him.”

 

Would this be the "Free market", you know the idea that prices are set by the market forces rather than centrally planned? Good to see such experts commenting I presume with a straight face and the BoE looking to rig the market.

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

Despite Drop in Commodity Prices, Farmland Values Rise

 

By PAUL SULLIVAN 11:37 AM ET

 

After the financial crisis, real estate was generally shunned. But global demand and other factors caused farmland prices to surge.

 

17wealth-span-sfSpan.jpg

Ed Zurga for The New York Times

 

Kevin Casner, right, farms 2,400 acres in Carrollton, Mo., with his son Adam, said the rents in his area ranged from $150 to $450 an acre.

 

 

 

DealBook

 

dbpix-icahn-thumbStandard.jpg

Judge Rules Against Icahn’s Efforts to Reschedule Dell Meeting

 

By MICHAEL J. DE LA MERCED 19 minutes ago

 

Chancellor Leo Strine of Delaware’s Court of Chancery also defended the work by a special committee of Dell’s board, saying that its actions benefited shareholders.

 

DealBook

 

UBS Repays Loan It Received During Bailout

 

By JULIA WERDIGIER 1:17 PM ET

 

The move clears the way for UBS to buy back a portfolio of distressed assets that were moved off the UBS books during the financial crisis.

 

Chinaecon-thumbStandard-v3.jpg

Easy Credit Dries Up, Choking Growth in China

 

By KEITH BRADSHER

 

Growth has slowed, causing an increase in defaults on unconventional loans, chronic overcapacity in many industries and other problems.

 

 

U.S. Housing Starts and Permits Rise Less Than Expected

 

By REUTERS 1:40 PM ET

 

Housing starts and permits for future home construction rose less than expected in July, suggesting that higher mortgage rates could be slowing the housing market’s momentum.

 

 

Wall St. Slumps, Led by Retailing Shares

 

By REUTERS

 

Markets were lower on Friday, a day after the largest drop on Wall Street in nearly two months set major indexes on course for their second consecutive weekly decline.

 

AOL to Cut Up to 500 Jobs at Local News Service

 

By THE NEW YORK TIMES 12:28 PM ET

 

The service, Patch, has been losing money and been a frustration for AOL’s chief executive, Tim Armstrong. The company is expected to shed many of its 900 local 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

16 August 2013 Last updated at 17:13

 

 

Households cut energy use by 25%_69318006_hi003516851.jpg

 

Households in England and Wales have cut their energy use by a quarter over the last six years, according to the Office for National Statistics.

 

 

_69324948_egyptviolence14august.jpgTravel firms cancel Egypt holidays

 

Travel firms TUI and Thomas Cook cancel holidays booked by German customers in Egypt until mid-September as the violence in the country escalates.

 

 

 

_69328685_5wxcinii.jpgPost Office strike over bank holiday

 

Post Office workers will stage a 48-hour strike over the August bank holiday weekend in an escalating row over pay and jobs.

 

 

 

 

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

Scottish & Southern Energy halts cold-calling by sales staff

 

Scottish-Southern-_2645757g.jpg

Scottish & Southern Energy has axed all cold calling by telephone sales staff just months after being fined £10.5 million by regulators for "prolonged" mis-selling.

35 Comments Pound to fall against dollar on Carney stimulus

 

Carney_2613997g.jpg

Analysts at Morgan Stanley expect the pound to fall by 5pc against the dollar in the next three months as Mark Carney considers more quantitative easing.

53 Comments

FTSE 100 ends down for a second week

 

markets_2645471g.jpg

The FTSE 100 ended down for the second week in a row despite edging higher on Friday.

Comment

 

Ban on Christmas gifts for Cadbury pensioners

 

cadbury_2620573g.jpg

The US owners of Cadbury have been criticised for scrapping the annual Christmas gift boxes they formerly sent to thousands of retired staff, in order to cut costs.

42 Comments

Virgin Trains attacks Network Rail

 

virgintrains_2349474g.jpg

Virgin Trains has launched a bitter attack on Network Rail after discovering that it would not be allowed to add any new services on a key rail route until the autumn of next year “at the earliest”.

Comment

Comet name could return to the high street

 

comet_2401713g.jpg

A south coast-based entrepreneur who attempted to buy Comet out of administration is looking to bring the electrical retailer’s name back to the high street.

Comment

BHP faces action in US anti-corruption probe

 

BHP_1844467g.jpg

US authorities have warned BHP Billiton, the world's largest miner, it could face action over potential breaches of anti-corruption laws related to terminated exploration activities and its sponsorship of the Beijing Olympics.

5 Comments

Thomas Cook in Germany cancels Egypt trips

 

 

 

 

Eurozone exports rise as inflation remains flat

 

 

 

 

 

Business news and markets: as it happened, August 16

 

markets_2645471g.jpg

Wall Street markets have risen slightly after two disappointing sets of economic data tempered fears that the Federal Reserve will imminently slow down its stimulus programmes.

High ambitions and teamwork: the tools to become competitive

 

Bajaur_1793201g.jpg

BCG chief Richard Lesser tells Katherine Rushton how to beat the pack.

Comment

Wongaland is a fictional place

 

piggy_2645331g.jpg

There is no new consumer debt bubble and households are not 'plundering their savings'.

12 Comments

Strong data sparks market sell-off

 

flag_1912370g.jpg

Stock markets across the world slumped and government borrowing costs soared after strong economic data from the US and the UK renewed fears that central banks would soon start withdrawing stimulus and move towards interest rate rises.

40 Comments

Global markets fall while borrowing costs rise on taper fears after jobs report

 

flag_1912370g.jpg

Global equity markets fell and bond yields rose on Thursday after slightly upbeat US jobs data and gains in consumer prices added weight to the view the Federal Reserve will soon begin to trim its bond-buying program.

7 Comments

Business news and markets: as it happened - August 15, 2013

 

flag_1912370g.jpg

Chinese authorities have announced they are widening their probe into pricing across all industries that have an impact on the lives of ordinary people in China.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Link to post
Share on other sites

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

Highways Agency takes 'first step' to privatisation

 

18 August 2013 12:00 AM

Body responsible for UK's main roads seeks partner to assist its transition to standalone status

 

 

GDP figures to keep UK on roll

 

18 August 2013 12:00 AM

Run of upbeat economic news could be continued by surprise revision on growth

 

 

Lack of gold can give Hambro a lift

 

18 August 2013 12:00 AM

Anybody shorting Petropavlovsk may slip up, say Mark Leftly and Jamie Dunkley

 

 

Car insurers in a bit of a jam

 

18 August 2013 12:00 AM

Britain's motor insurance market is at its strongest since 2007 but still remains loss-making because of falling premiums, experts have claimed.

 

 

 

High hopes for first Glencore results

 

18 August 2013 12:00 AM

The new powerhouse of world mining, Glencore Xstrata, will unveil its first set of half-year results next week with analysts expecting bumper profits approaching $6bn (£3.8bn).

 

 

 

Network Rail misses targets on savings

 

18 August 2013 12:00 AM

Network Rail has admitted that it will miss key cost savings targets on its £4bn track-replacement programme in the body's current five-year plan.

 

 

 

Battered Severfield dares to look upwards

 

17 August 2013 12:45 AM

The steelwork group that crashed into the red when it overspent on its contract for the “Cheesegrater” skyscraper in London says its can seen light at the end of the tunnel.

 

 

 

Recovery hopes are fuelled as European car sales rev up

 

17 August 2013 12:44 AM

More encouraging signs of Europe’s economic recovery were seen yesterday as the Continent’s car manufacturers reported annual growth for only the second time this year.

 

 

 

Comet set to rise again as a new store chain

 

17 August 2013 12:43 AM

A chain of electrical stores trading under the Comet name is to be launched in an attempt to fill the gap in the market left by the now-defunct retailer.

 

 

 

BHP faces action in America over ‘corruption’ at Olympics

 

17 August 2013 12:41 AM

BHP Billiton could face enforcement action by US officials over alleged breaches of anti-corruption laws, it admitted yesterday. The move relates partly to corporate hospitality that the London-listed miner laid on for the Beijing Olympics in 2008.

 

 

 

Rothschild puts daughter on the board of £2bn RIT

 

17 August 2013 12:39 AM

Lord Rothschild has appointed his eldest daughter to the board of his £2bn investment company RIT Capital Partners.

 

 

 

Firms hang up on cold-calls

 

17 August 2013 12:36 AM

Two of the “big six” utility companies, E.on and SSE, have hung up on cold-calling customers.

 

 

 

Sky-high energy bills see Britons switch off

 

17 August 2013 12:33 AM

Homeowners choose to cut consumption as cost of heating and lighting soars

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Link to post
Share on other sites

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

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