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The great interest rate rip off part 10


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Greek central banker says banking system protected from any Deutsche Bank impact

 

ATHENS The Greek and international banking systems were "safe" and tools were in place to protect them from any impact from the crisis engulfing Deutsche Bank , Greek central bank chief Yannis Stournaras said on Friday.

30 Sep 2016

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Irish central bank worried about progress on non-performing loans

 

DUBLIN Ireland's central bank is not satisfied with lenders' continued efforts to tackle high levels of non-performing loans, which remain a significant problem, a senior official said on Friday.

30 Sep 2016

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EU loosens Ukraine trade quotas but keeps aid on hold

 

KIEV The European Union has expanded the amount of produce Ukraine can export duty-free to the bloc as part of their free trade deal, but delayed disbursing a second tranche of aid pending further policy steps by Kiev, the bloc said on Friday.

30 Sep 2016

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Commerzbank targets 2 million new clients in job-cutting overhaul

 

FRANKFURT Commerzbank aims to add 2 million retail and small business customers over the next four years, part of a revamp to boost earnings that will also see it cut thousands of jobs.

30 Sep 2016

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Vivendi CEO optimistic over possible solution for Mediaset pay-TV row

 

MILAN Vivendi is hopeful it can resolve a dispute with Italian broadcaster Mediaset over a contested pay-TV deal, the CEO of the French media group Arnaud de Puyfontaine said on Friday.

30 Sep 2016

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Airbus Group to merge with planemaking unit

 

PARIS Airbus Group said on Friday it would merge with its planemaking unit, strip out bureaucracy and simplify its brand, marking a break with its complex corporate roots as it prepares for tougher expected competition.

30 Sep 2016

Perella Weinberg partners shared 11.5 million pounds 2015 payout in Europe

 

LONDON Perella Weinberg's eight partners in Europe shared profits of 11.5 million pounds in 2015 as the boutique advisory firm rode a wave of mergers and acquisitions to more than double its revenue from the region.

30 Sep 2016

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Airline caterers adapt to survive with shift to buy-on-board

 

BERLIN In the 1980s American Airlines calculated that it could save up to $100,000 just by removing olives from its salads. Since then, the industry's economy drive has continued apace forcing airline catering firms to reinvent themselves.

30 Sep 2016

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Merkel, Obama did not discuss Deutsche Bank in Thursday call - Berlin

 

BERLIN Chancellor Angela Merkel and U.S. President Barack Obama did not discuss U.S. authorities' demands for Deutsche Bank to pay a fine of up to $14 billion (£10.80 billion) during a phone call on Thursday, a German spokeswoman said on Friday.

30 Sep 2016

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Deutsche Bank must survive without state aid - Eurogroup

 

AMSTERDAM Eurogroup President Jeroen Dijsselbloem said on Friday that Deutsche Bank must survive "on its own", without assistance from the German state.

Some relief for big-spending ECB as euro zone inflation ticks up

 

BRUSSELS/FRANKFURT Inflation in the euro zone ticked up in September, data showed on Friday, giving the European Central Bank some confidence its stimulus programme is pulling the bloc's economy away from the deflationary brink.

30 Sep 2016

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Air Berlin CEO reassures customers, says flights operating as normal

 

BERLIN Air Berlin sought to reassure customers over its planned drastic restructuring on Friday, saying it continues to operate all flights as scheduled.

30 Sep 2016

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Deutsche Bank admits 'perception issue' as shares slide

 

BERLIN Deutsche Bank shares were indicated down 6.2 percent ahead of the opening of the Frankfurt market on Friday, after Germany's largest lender admitted it had an image problem with investors as fresh concerns over its stability emerged.

30 Sep 2016

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As Deutsche struggles, European bank rally creates investor dilemma

 

LONDON While possibly Europe's biggest "pain trade", fund managers are under pressure to buy banking stocks despite the deep problems of Deutsche Bank and some other lenders in the region.

30 Sep 2016

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Tesco's trading recovery tempered by pensions cloud

 

LONDON Britain's biggest supermarket group, Tesco , is expected to report further progress in its recovery next week with a third straight quarter of UK underlying sales growth, although it now faces the burden of a ballooning pension deficit.

30 Sep 2016

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HeidelbergCement relaxed about Brexit, had good August in UK

 

STUTTGART, Germany Germany's HeidelbergCement is seeing strong business in the UK and is more worried about the economic effects if Donald Trump wins the U.S. presidential election than it is about Brexit, its chief executive said on Friday.

30 Sep 2016

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ECB's Visco says would be reasonable to see HICP above two percent for a while

 

ROME It would be reasonable for euro zone inflation to exceed the European Central Bank's target of 2 percent for a while, to offset the long period in which it has been far below it, ECB Governing Council Member Ignazio Visco said on Friday.

30 Sep 2016

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UK consumer confidence surges to pre-Brexit levels - survey

 

LONDON, Sept 30 British consumer morale rocketed back to pre-Brexit levels in September, a survey found, confounding expectations that the vote to leave the EU would wreak more lasting damage on Briton's willingness to spend.

30 Sep 2016

H&M upbeat on 2017 prospects as warm weather hits September sales

 

STOCKHOLM Budget fashion retailer Hennes & Mauritz was upbeat about prospects for profitability next year but a fall in third-quarter earnings and weak September sales sent the retailer's shares to a three-month low on Friday.

30 Sep 2016

AXA, Allianz vie for StanChart's general insurance distribution deal - sources

 

SINGAPORE/HONG KONG France's AXA and Germany's Allianz SE have advanced to the second stage of bidding for a Standard Chartered deal that would enable the sale of general insurance products through the bank's Asian branches, people familiar with the matter said.

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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Volkswagen's Seat seeks return to profit with new models, cost cuts

 

PARIS Volkswagen's long-struggling Spanish division Seat said it may return to profit this year for the first time since 2008 and stay there through 2018, benefiting from demand for new and redesigned models.

30 Sep 2016

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RBS unveils brand changes, new structure in ring-fencing revamp

 

LONDON Royal Bank of Scotland is to separate its retail operations from its higher-risk businesses in a major overhaul to meet new ring-fencing rules in Britain, which also means the RBS brand will only be used in Scotland.

30 Sep 2016

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Russia says will be able to freeze oil output in case of deal with OPEC

 

SOCHI, Russia Russia will find mechanisms and instruments needed to freeze oil production should the country reach an agreement with the Organization of the Petroleum Exporting Countries on limiting output, the Russian Energy Minister said on Friday.

30 Sep 2016

Small UK energy supplier Ovo makes first profit

 

LONDON Ovo Energy, one of the fast-growing independents challenging Britain's "big six" energy suppliers, reported a pre-tax profit for the first time in its seven-year history and said it aimed to reach a million customers within the next two years.

30 Sep 2016

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EU-U.S. trade deal talks 'continuing and very intense' - EU commissioner

 

KIEV The European Union and the United States are trying to make as much progress as possible in negotiations on the Transatlantic Trade and Investment Partnership (TTIP) before the end of the current administration, a top EU official said on Friday.

30 Sep 2016

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Santander sees tougher times ahead as cuts profitability goal

 

MADRID Banco Santander gave investors a sobering assessment of its prospects in Britain and Spain on Friday, with a warning that it would be less profitable than expected in the years ahead, knocking the Spanish bank's shares.

30 Sep 2016

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UK funds dump stocks for bonds, emerging markets - Reuters poll

 

LONDON (Reuters_ - British funds have slashed equity holdings in their portfolios, allocating more capital to bonds and to buoyant emerging markets as they fret about the risks posed by Europe's banks and U.S. elections.

30 Sep 2016

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Global funds add to Japan, euro zone bonds, see no further sell offs - Reuters poll

 

LONDON Global investors raised holdings of Japanese bonds to four-year highs in September and bought more euro zone debt, shrugging off a mid-month market sell-off and expressing faith in central banks' commitment to their asset-buying programmes.

30 Sep 2016

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European funds cut UK, euro zone stocks on Brexit fallout fears - Reuters poll

 

LONDON European investors' exposure to British stocks fell to two-year lows in September, while euro zone holdings slipped to the lowest since last May due to continued uncertainty over the economic fallout from Brexit.

30 Sep 2016

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Sainsbury's names Simon Roberts as retail & operations director

 

LONDON Sainsbury's , Britain's No. 2 supermarket chain, on Friday named Simon Roberts as its new retail and operations director but may have to wait until July 2017 before he can start.

Japan's Mitsubishi Motors to resume sales after latest cheating scandal

 

TOKYO Japanese automaker Mitsubishi Motors Corp will resume domestic sales of eight vehicle models on Oct. 1, the company said on Friday, after correcting overstated mileage readings in its second cheating scandal this year.

30 Sep 2016

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Renault to enter new joint venture in Iran

 

PARIS Renault said on Friday it had signed a deal to enter into a new joint venture in Iran that would allow it to strengthen its presence in the country after most trade sanctions were lifted earlier this year.

30 Sep 2016

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Germany's Commerzbank cuts nearly 10,000 jobs, halts dividend

 

FRANKFURT Germany's Commerzbank will cut more than a fifth of its workforce and suspend its dividend as it tackles the challenges of low interest rates, weak profits and the shift to online banking.

30 Sep 2016

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RBC cutting 15 investment banking jobs in London - sources

 

LONDON/TORONTO Royal Bank of Canada (RBC) is cutting 15 investment banking jobs in London amid a slowdown in activity in the region, sources familiar with the matter told Reuters.

30 Sep 2016

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EU regulators open to Italy request for more time to sell banks

 

BRUSSELS Italy has asked for more time to sell four small savings banks it bailed out last year, the European Commission said on Friday, saying it was open to the request.

30 Sep 2016

UK's IG Group to buy DailyFX from FXCM Inc for $40 million

 

Online trading company IG Group Holdings Plc said it had agreed to buy news and research portal DailyFX and its associated assets from U.S. retail broker FXCM Inc for $40 million (30.88 million pounds).

30 Sep 2016

Swiss financier gets 5-1/2 years in jail for fraud

 

ZURICH A former Swiss fund manager accused of cheating 2,000 investors out of around 800 million Swiss francs (£637.18 million) was sentenced to 5-1/2 years in jail on Friday, more than a decade after his investment empire collapsed.

30 Sep 2016

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Gold rush - Chinese head out on holiday en masse, skirting Taiwan and Hong Kong

 

BEIJING Millions of Chinese tourists are packing their bags for distant and not-too distant shores for the National Day holiday, with early indicators pointing to a slump in bookings for neighbouring Taiwan and Hong Kong.

30 Sep 2016

BOJ to trim October buying of super-long JGBs to two-year low

 

TOKYO The Bank of Japan said on Friday it plans to trim buying in long-dated Japanese government bonds (JGBs) in market operations in October to its lowest level since 2014, a move that is seen aimed at steepening the yield curve.

30 Sep 2016

British car industry body criticises Brexit uncertainty

 

LONDON Britain's car industry body said on Friday that current uncertainty over Brexit was not conductive to attracting investment and that the government must maintain the competitiveness of the sector.

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 house prices rise more slowly in September - Nationwide

 

LONDON British house prices rose more slowly in September than in August, according to figures from mortgage lender Nationwide, adding to signs of a cooling in the housing market after voters decided in June to leave the European Union.

30 Sep 2016

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Samsung slammed by Chinese state TV over Note 7 recall 'discrimination'

 

HONG KONG Chinese state broadcaster CCTV has slammed South Korean tech giant Samsung Electronics Co for what it said was "discrimination" against China consumers in its handling of a global recall of Galaxy Note 7 smartphones to replace batteries.

30 Sep 2016

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Growth in peril as east Europeans 'sweat blood' to find workers

 

SOLTVADKERT, Hungary At peak harvest time, Hungarian winemaker Sandor Font has enough work for 30 people at his vineyard south of Budapest - if only he could find enough grape-pickers.

30 Sep 2016

Deutsche Bank CDS jump 21 basis points after stability concerns

 

LONDON The cost of insuring Deutsche Bank's debt against default jumped by 21 basis points on Friday after fresh reports over its stability rattled investors and sent shares to new all-time lows.

30 Sep 2016

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Property, pensions deal big wealth hit to Britons born in 1980s

 

LONDON Britons who are now in their early thirties have half the wealth that people born 10 years earlier enjoyed at the same age, due to a combination of surging property prices and less generous pension schemes, a report published on Friday showed.

30 Sep 2016

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Deutsche Bank is not Europe's Lehman moment - Austrian finance minister

 

LONDON Deutsche Bank's troubles are not Europe's Lehman Brothers moment, Austria's finance minister said on Thursday, although he warned the region's lenders were facing a broader profitability crisis.

30 Sep 2016

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China's yuan prepares for global currency status as questions on reform linger

 

SHANGHAI China's yuan will formally join the U.S. dollar, the euro, the Japanese yen and the British pound as a global reserve currency on Saturday, in a key milestone in the country's long campaign to boost its clout on the global stage.

30 Sep 2016

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Boss of UK's John Lewis selected to run for West Midlands mayor

 

LONDON British department store chain John Lewis [JLP.UL] [JLPLC.UL] will have to appoint a new leader after Managing Director Andy Street was chosen by the ruling Conservative Party as its candidate for mayor of the West Midlands in central England.

30 Sep 2016

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Gut feeling - new CEO to steer Nestle down uncharted health path

 

LONDON Switzerland's Nestle , the world's largest food company, wants to tune up your guts. Last weekend, it hosted global experts in Playa del Carmen, Mexico for a three-day workshop on the intestinal microbiome to discuss how trillions of bacteria living in the digestive system can impact everything from obesity to depression.

30 Sep 2016

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Factbox: Nestle Health Science key investments

 

Nestle believes its Health Science unit will eventually generate annual sales of 10 billion Swiss francs (7.95 billion pounds). It already has sales of more than 2 billion francs.

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

Philip Hammond ditches George Osborne's 15% corporation tax cut target

 

In his speech to the Conservative Party conference in Birmingham the new Chancellor made no reference to his predecessor's idea

 

 

 

 

 

Oil prices rise above $50 for first time since August

 

 

 

 

 

Deutsche Bank gains high profile support from German business leaders

 

 

 

 

 

 

 

 

Manufacturing continues to surge in September

 

The latest Markit/CIPS Purchasing Managers’ Index reading jumped to 55.4 in September, up from 53.3 in August, with any figure above 50 showing expansion

 

 

 

 

 

Janus merges with Henderson Global Investors to create a $320bn giant

 

 

 

 

 

Pound value drops again after May sets out Brexit plans

 

 

 

 

 

 

These are the 14 countries with the safest banks in the world

 

With speculation rife that Deutsche Bank may be on the brink of collapse under the weight of a massive fine from the US Department of Justice, the safety and security of financial institutions is once again under the spotlight.

 

 

 

 

 

 

Firms expect growth amid calls for clear Brexit strategy

 

A new study shows that all sectors expect strong growth in the next three months

 

 

 

 

 

 

 

 

Brexit is a ‘once-in-a-generation’ chance to save UK’s wildlife

 

Leaving the EU ‘provides an unprecedented opportunity to revitalise our countryside in a way that balances the needs of everyone, for generations to come’

 

 

 

 

 

 

The 19 countries with the highest level of government debt

 

We are now living in a world where interest rates are super-low, even negative in some cases, across some of the richest nations.

 

 

 

 

 

 

 

 

Deutsche Bank chief Cryan issues reassurance as shares wobble

 

Deutsche's shares hit record lows on Friday morning, but recoveredafter John Cryan's comments

 

 

 

 

 

 

Asos working conditions to be investigated by MPs

 

Security measures at the warehouse have reportedly intensified to the extent that workers are searched upon entering the toilets

 

 

 

 

 

RBS revives NatWest Markets as it removes its name from its investment

 

 

 

 

 

Nissan demands Brexit compensation deal before making UK investment

 

 

 

 

 

 

Nissan's warning on Brexit is the shape of things to come

 

Trade minister Liam Fox can pout and pontificate all he wants but business leaders are cutting investment and job losses will follow

 

 

 

 

 

 

 

 

Deutsche Bank CEO's memo to staff in full

 

The collapse follows reports that ten hedge funds had reduced their exposure to the lender and have taken their business elsewhere

 

 

 

 

 

 

Deutsche Bank fears rattle stock market as shares hit record low

 

Chief executive of bank says 'new rumours' causing share price to fall

 

 

 

 

 

 

 

Services power UK economy in wake of referendum

 

The UK’s dominant services sector grew 0.4 per cent in July according to the latest official data, confirming the impression that the economy has so far brushed off the impact of the Brexit vote

 

 

 

 

 

Restaurants that serve big puddings to be named and shamed

 

 

 

 

 

Will Alphabet's YouTube compete with Spotify and Apple Music?

 

 

 

 

 

 

Andrew Tyrie blasts banks and regulators over IT failings

 

The Treasury Committee chairman wants faster action to improve banks' creaking IT systems. He has a point

 

 

 

 

 

 

 

Sainsbury's launches dairy-free cheese range suitable for vegans

 

Sainsbury’s dairy-free cheeses are available in stores across the UK from 28 September.

 

 

 

 

 

How on earth will Labour raise £500bn to make Britain more socialist?

 

 

 

 

 

CMA probes price sites but don't let that stop you switching

 

 

 

 

 

 

New scandal threatens Ian Taylor's Vitol

 

Vitol faces claims it bamboozled Mozambique, the impovershed African nation, into overpaying in a fuel deal

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Asos staff are fired for having panic attacks, report claims

 

Security measures at an Asos warehouse have intensified to the extent that workers are searched upon entering the toilets

 

 

 

 

 

The Truth about Vitol’s tax affairs

 

 

 

 

 

Capita has tripped up. What's the problem? Who can tell?

 

 

 

 

 

 

Mortgage approvals fall to lowest in 21 months

 

Mortgage approvals slipped to 60,058 in August, the lowest since November 2014, which analysts said pointed to a softening of the housing 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

Hammond: Austerity isn't over

 

 

 

 

As the figures show the UK economy performing strongly, the chancellor has made it clear fiscal discipline is still central to the Conservative project.

 

  • 3 October 2016
  • From the section Business
  • comments

 

 

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Pound falls as May indicates Brexit date

 

Sterling falls to its lowest level against the dollar since the beginning of July after Theresa May outlines the timetable for starting Brexit negotiations.

 

  • 3 October 2016
  • From the section Business

 

 

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Live Business Live: FTSE 100 closes up 1.3%; Pound falls

 

FTSE 100 sees strong rise, helped by a fall in the pound; but Wall Streets slips.

 

 

 

 

 

 

Infrastructure - the economy's magic bullet?

 

  • 3 October 2016
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Wonga admits double-charging customers

 

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UK factory growth 'best for two years'

 

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Facebook Messenger made 95% slimmer

 

 

 

Tesco faces UK legal action by investors

 

  • 2 October 2016
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Deutsche Bank defended by German firms

 

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East Coast strike 'solid' says RMT

 

  • 3 October 2016
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ING to cut 5,800 jobs in digital plan

 

  • 3 October 2016
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Heathrow decision to be made 'shortly'

 

  • 2 October 2016
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Tell us what you want to know about globalisation

 

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The winners and losers since the vote for Brexit

 

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Our Experts

 

Hammond: Austerity isn't over

 

As the figures show the UK economy performing strongly, the chancellor has made it clear fiscal discipline is still central to the Conservative project.

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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Donald Trump Trashes Nafta. But Unwinding It Would Come at a Huge Cost.

 

By NEIL IRWIN

 

Rejecting the free-trade deal with America’s neighbors would mean upending major industries and a generation’s worth of economic integration.

 

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Eros Hoagland for The New York Times

 

Trucks entering the United States from Tijuana, Mexico.

 

 

 

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State Attorney General Orders Trump Foundation to Cease Raising Money in New York

 

By STEVE EDER 16 minutes ago

 

Eric T. Schneiderman, the attorney general, said a charities bureau had determined that the Donald J. Trump Foundation was not registered to solicit donations under state law.

 

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Donald Trump Tax Records Show He Could Have Avoided Taxes for Nearly Two Decades, The Times Found

 

By DAVID BARSTOW, SUSANNE CRAIG, RUSS BUETTNER and MEGAN TWOHEY

 

The Republican nominee reported nearly $1 billion in losses in 1995, opening the door to tax avoidance in subsequent years.

 

 

 

 

Fair Game

 

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The Trump Campaign’s Questionable Tax Return Justification

 

By GRETCHEN MORGENSON 1:58 PM ET

 

Experts scoffed at campaign officials’ argument that Donald J. Trump had a “fiduciary duty” to pay no more tax than required.

 

Common Sense

 

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How Donald Trump Turned the Tax Code Into a Giant Tax Shelter

 

By JAMES B. STEWART

 

If Mr. Trump’s pattern of generating losses and using them to offset other income has continued, as seems likely, it’s obvious why he has not released his tax returns: because he hasn’t paid any taxes.

 

 

 

 

 

 

 

 

 

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U.S. Tech Giants Are Investing Billions to Keep Data in Europe

 

By MARK SCOTT

 

Companies like Amazon and Microsoft are building data centers across the Continent in response to Europeans’ desires to keep their information close to home.

 

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Britain, Seeking to Mitigate ‘Brexit’ Turbulence, Hints at Economic Shift

 

By STEPHEN CASTLE 10:24 AM ET

 

The chancellor of the Exchequer promised to take “whatever steps are necessary to protect this economy” as the country prepares to leave the European Union.

 

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Bass Pro Shops to Acquire Cabela’s, a Rival Outdoor Retailer

 

By LESLIE PICKER 10:12 AM ET

 

The deal to buy Cabela’s for $5.5 billion in cash will merge two companies known for selling hunting and fishing gear to outdoor sports enthusiasts.

 

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Deutsche Bank’s Appetite for Risk Throws Off Its Balance

 

By LANDON THOMAS Jr. 12:39 PM ET

 

Deutsche has cultivated bankers with expertise in cutting-edge financial instruments, but that could be a liability in today’s market.

 

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Tricky Goal for ‘Birth of a Nation’: Inspire but Don’t Incite

 

By BROOKS BARNES

 

Fox Searchlight has aimed a grass-roots campaign at churches, schools and pockets of political influence to ease the provocative film into communities on edge.

 

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Graphic: Global Mergers Decline in Third Quarter

 

By THE NEW YORK TIMES

 

In a quarter that began when markets were just steadying from the Brexit vote and that ended when markets were rattled by Deutsche Bank, it may not be surprising that deal-making slowed significantly.

 

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Disney’s Hot Streak Stalls, Prompting Rumors That It’s Looking to Grow

 

By BROOKS BARNES

 

Robert Iger, chief of the mass media company, has a history of reinvigorating the company by making deals, but despite a string of good decisions, shares are dipping and investors are getting antsy.

 

Jakarta Journal

 

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What’s Clogging Jakarta’s Waterways? You Name It

 

By JOE COCHRANE

 

Indonesia’s capital is working to dredge its network of rivers and canals, long blocked with garbage and a central contributor to chronic flooding.

 

 

 

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

FTSE 100 hits 16-month high and pound plunges below $1.29 as Theresa May sets Brexit deadline

 

 

 

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

Hammond vows to protect UK economy during Brexit, sterling falls

 

BIRMINGHAM, England British finance minister Philip Hammond vowed on Monday to protect the economy from any turbulence during negotiations to leave the EU, as sterling fell on worries the country is heading towards a disruptive divorce with its biggest trading partner.

6:35pm BST

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UK factory surge casts doubt on further Brexit stimulus

 

LONDON British factories had their strongest month in more than two years in September, a survey showed, raising doubts about whether the central bank and finance ministry will announce more stimulus measures to offset the economic hit of the Brexit vote.

11:44am BST

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Citi's UK chief sees finance job losses in London post-Brexit

 

BIRMINGHAM, England The UK head of U.S. bank Citi said on Monday that jobs in London's financial sector would move to countries inside the European Union after Britain leaves the bloc, regardless of what deal is struck on access to the EU financial services market.

8:17pm BST

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Oil climbs on Iran comments, stocks tick down

 

NEW YORK An index of stocks across the world dipped on Monday weighed by a decline on Wall Street while oil prices rose to a three-month high after Iran's leader called on non-OPEC oil producers to support the market.

8:30pm BST

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Oil settles above $50 as Iran calls for non-OPEC support

 

NEW YORK Oil rose more than 1 percent on Monday, with Brent settling above $50 a barrel the first time since August and U.S. crude hitting three-month highs, after Iran exhorted the need for other oil producers to join OPEC in supporting the market.

8:25pm BST

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EDF given nod to recoup 1 billion euros from customers

 

PARIS French energy utility EDF will be able recover about 1 billion euros ($1.12 billion) from customers following a retroactive increase in bills decided by France's highest administrative body.

8:16pm BST

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Google has until October 31 to reply to EU's Android antitrust charges

 

BRUSSELS Alphabet's Google has been given until the end of October, the fourth extension, to rebut EU antitrust charges that it uses its dominant Android mobile operating system to block competitors, the European Commission said on Monday.

2:05pm BST

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No Brexit shortcut for firms moving to Ireland - central bank

 

DUBLIN The authorisation process for financial services firms wanting to set up in Ireland following Britain's vote to leave the European Union cannot be short circuited, a central bank official said on Monday.

7:31pm BST

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Iranian president tells Venezuela essential to raise oil prices

 

DUBAI Iran's President Hassan Rouhani told his Venezuelan counterpart Nicolás Maduro in a phone call that it was essential for oil producing countries to take a decision to raise the price of oil and stabilise the market, Iranian state news agency IRNA said.

8:13pm BST

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No need to nationalise ailing banks - Italy's economy minister

 

MILAN Italy's economy minister said on Monday that nationalising troubled Italian banks was not necessary, as concerns mounted that a plan to rescue lender Banca Monte dei Paschi di Siena might come unstuck.

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

Morgan Stanley charged with running unethical sales contests - regulator

 

BOSTON Morgan Stanley was charged with "dishonest and unethical conduct" by Massachusetts' top securities regular on Monday for having pushed its brokers to sell loans to their clients.

7:13pm BST

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Hammond vows to protect UK economy during Brexit, sterling falls

 

BIRMINGHAM, England British finance minister Philip Hammond vowed on Monday to protect the economy from any turbulence during negotiations to leave the EU, as sterling fell on worries the country is heading towards a disruptive divorce with its biggest trading partner.

6:35pm BST

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ECB's Mersch warns further rate cuts could backfire

 

LUXEMBOURG Charging banks even more to park their money with the European Central Bank could backfire if the damage to the banking sector outweighs the benefit for borrowers, ECB Executive Board member Yves Mersch said on Monday.

6:25pm BST

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U.S. factories rebound, resisting global downward pull

 

WASHINGTON U.S. factories ramped up activity in September, shaking off a one-month contraction in a sign America was resisting the downward pull of the sluggish global economy.

6:23pm BST

Henderson ties up with Janus to form $6 bln fund firm

 

LONDON/SAN FRANCISCO London-based asset manager Henderson Group agreed to buy U.S. rival Janus Capital Group Inc on Monday in an all-share $6 billion (4.67 billion pounds) deal to cut costs and boost profits in the face of growing competition from index funds.

5:50pm BST

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Cosmetics retailer Sephora postpones opening of Iran shops end-2017 - sources

 

PARIS French cosmetics retailer Sephora will postpone the opening of several retail outlets in Iran to end-2017 from 2016 as initially planned because the right financial and political conditions are not yet in place, sources said on Monday.

5:43pm BST

UK fashion brand Cath Kidston looks to expand with Baring Asia takeover

 

LONDON Cath Kidston, the British homewares and fashion brand known for vintage-inspired floral prints, has set its sights on further expansion abroad, it said on Monday in announcing its takeover by private equity firm Baring Asia and the appointment of former Gucci boss William Flanz as chairman.

5:18pm BST

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RBS to pay $120 million to resolve Connecticut mortgage bond probe

 

Royal Bank of Scotland Group Plc will pay $120 million (93.41 million pounds) to resolve a Connecticut state investigation into the bank's underwriting of toxic mortgage-backed securities ahead of the 2008 financial crisis, authorities said on Monday.

5:03pm BST

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BP says oil from North Sea spill to disperse naturally

 

LONDON A technical problem at BP's Clair platform in the North Sea resulted in a spill of 95 tonnes of oil that was allowed to disperse naturally into the sea, the British oil major said on Monday.

4:51pm BST

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Rising demand drove up September euro zone factory activity - PMI

 

LONDON Manufacturing activity in the euro zone picked up last month as demand increased from both within and outside the currency bloc, driving factories to increase headcount, a survey showed on Monday.

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. opens safety probes into 642,000 SUVs, cars

 

WASHINGTON U.S. auto safety regulators said Monday they are opening two new preliminary investigations into 642,000 Ford sport utility vehicles and cars over door latch warning light and steering issues.

4:16pm BST

Colostomy bag maker ConvaTec seeks $1.8 billion in London IPO

 

LONDON/BENGALURU Medical products maker ConvaTec Ltd plans to raise around $1.8 billion (1.4 billion pounds) in an initial public offering (IPO) of new shares on the London Stock Exchange, it said on Monday, in a test of investor confidence after Britain's vote to leave the European Union.

4:09pm BST

G20 finance chiefs to discuss risks to economy, ending secret company ownership

 

BRUSSELS Financial leaders of the world's 20 biggest economies sit down this week to discuss the main risks to global economic growth and how to clamp down the secretive ownership of companies that allows for tax avoidance and money laundering.

4:04pm BST

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Facebook's launches Marketplace for local buying and selling

 

Facebook Inc launched Marketplace to allow people to buy and sell items locally as the social media network tries new ways to keep users engaged.

3:55pm BST

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Deutsche Bank's U.S-listed shares fall back

 

LONDON Deutsche Bank's U.S.-listed shares fell back on Monday, with the group still aiming to reach a settlement with U.S. authorities who are demanding a fine of up to $14 billion (10.9 billion pounds) for mis-selling mortgage-backed securities.

3:11pm BST

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Bass Pro Shops hooks Cabela's in $5.5 billion deal

 

Fishing and hunting equipment chain Cabela's Inc said it agreed to be bought by Bass Pro Shops in a deal valued at $5.5 billion (4.28 billion pounds) that will help the privately held company nearly double its store count in North America.

3:10pm BST

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Greece expects growth, lower debt, unemployment to ease in 2017 - draft budget

 

ATHENS Recession-hit Greece on Monday predicted a return to growth in 2017 and a drop in its huge debt burden via a tax-heavy draft budget submitted to parliament, pledging to meet the reform targets of lenders throwing it a financial lifeline.

3:04pm BST

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Review of SocGen rogue trading tax credit "possible" - minister

 

PARIS French Budget Minister Christian Eckert said on Monday the state might review a tax credit French bank Societe Generale received following rogue trading losses suffered in 2008.

2:13pm BST

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Google has until October 31 to reply to EU's Android antitrust charges

 

BRUSSELS Alphabet's Google has been given until the end of October, the fourth extension, to rebut EU antitrust charges that it uses its dominant Android mobile operating system to block competitors, the European Commission said on Monday.

2:05pm BST

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Factbox - How low can they go? Central bank policy easing around the world

 

LONDON Kazakhstan's central bank cut its policy rate to 12.5 percent from 13.0 percent on Monday and said it may lower it again this year if inflation slows significantly and deposits in tenge, the local currency, show sustained growth.

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

BlackRock backs single-fund stress tests, Vanguard against hard rule

 

LONDON BlackRock , the world's biggest asset manager, has told an international financial watchdog it supports plans to stress test individual mutual funds to make sure they function properly during extreme market conditions.

1:48pm BST

Foxconn's FIH Mobile warns of 52 percent drop in net profit in 2016

 

TAIPEI Mobile phone maker FIH Mobile Ltd warned on Monday its consolidated net profit would more than halve this year as weaker sales dent business at the Hong Kong-listed unit of Hon Hai Precision Industry Co .

1:25pm BST

Irish consumer sentiment edges lower in September

 

DUBLIN Irish consumer sentiment edged slightly lower last month, a survey showed on Monday, the details of which hinted at an uptick in uncertainty and nervousness on the part of Irish consumers, according to its authors.

1:08pm BST

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FTSE hits 16-month high after Brexit date set

 

LONDON UK shares opened higher on Monday, rising after Britain's Prime Minister Theresa May said that she would trigger the process to leave the European Union by the end of March, which put pressure on sterling.

12:57pm BST

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Hammond buries idea of extra cuts to corporation tax

 

BIRMINGHAM, England Chancellor Philip Hammond said the government would stick to its plans to lower Britain's corporation tax rate to 17 percent by 2020, burying a suggestion by his predecessor George Osborne that it might fall below 15 percent to offset the Brexit vote impact.

12:35pm BST

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Britain extends guarantee to replace EU funding after Brexit

 

BIRMINGHAM, England Britain will guarantee to cover any European Union funding secured ahead of the country's exit from the bloc, Chancellor Philip Hammond said on Monday, extending an existing pledge to ease concerns that Brexit could hurt investment.

12:34pm BST

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UK factory surge casts doubt on further Brexit stimulus

 

LONDON British factories had their strongest month in more than two years in September, a survey showed, raising doubts about whether the central bank and finance ministry will announce more stimulus measures to offset the economic hit of the Brexit vote.

11:44am BST

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EU resumes probe into DuPont, Dow mega deal, to rule by Feb 6

 

BRUSSELS EU antitrust regulators have resumed their investigation into the $130 billion (101 billion pound) merger of U.S. chemicals giants Dow Chemical and DuPont after the companies provided key data.

11:08am BST

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S&P gives fresh warning on emerging market sovereign downgrades

 

LONDON Emerging markets are likely to see more sovereign downgrades than upgrades for the next year or two, ratings firm Standard and Poor's warned on Monday.

10:28am BST

India's Reliance ties up with Dassault after fighter jet deal

 

NEW DELHI India's Reliance Group said on Monday it had tied up with Dassault Aviation SA to help the French company spend up to 300 billion rupees (3.5 billion pounds) that it must invest in India as part of a recent fighter jet deal it clinched.

Bank of England confirms will hold broader bank stress test in 2017

 

LONDON, The Bank of England said on Monday it would hold a broader stress test of British banks' resilience alongside its regular annual check-up of their financial health.

9:41am BST

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Britain sets out 5 billion-pound homebuilding boost

 

BIRMINGHAM, England Britain launched a 5 billion-pound homebuilding stimulus package on Monday, including plans to borrow 2 billion pounds to help address a long-term housing shortage that has become a major economic problem.

9:30am BST

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Immigration curbs don't preclude single market access - Hammond

 

BIRMINGHAM, England Controlling immigration does not necessarily mean Britain will lose access to the European Union's single market following its exit from the bloc, Chancellor Philip Hammond said on Monday.

9:30am BST

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Many EU nations want strong, continued trade ties with UK - Hammond

 

BIRMINGHAM, England Chancellor Philip Hammond said on Monday there were differences among European Union member countries about the stance to take over Britain's future trading relationship with the bloc.

9:30am BST

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Hammond says will treat investment spending differently

 

BIRMINGHAM, England Chancellor Philip Hammond said on Monday he wanted to treat investment spending differently from day-to-day spending, underscoring his different approach to the public finances to that of his predecessor George Osborne.

9:30am BST

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UK government should consider targeted infrastructure investment - Hammond

 

BIRMINGHAM, England The British government must keep a lid on day-to-day spending but there is a case for targeted, high-value infrastructure investment following June's vote to leave the European Union, Chancellor Philip Hammond said on Monday.

9:30am BST

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ING plans to shed 7,000 jobs, invest in digital platform

 

AMSTERDAM ING Groep plans to shed 7,000 jobs and invest heavily in its digital platforms to achieve annual savings of 900 million euros ($1 billion) by 2021, the Netherlands' largest financial services company said on Monday.

9:22am BST

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Growth in German factory activity hits three-month high in September - PMI

 

BERLIN, German manufacturing growth accelerated to a three-month high in September, partly driven by stronger demand from abroad, a survey showed on Monday, suggesting factories will contribute to an economic expansion in the third quarter.

9:00am BST

French manufacturing decline eases in September - PMI

 

PARIS, French manufacturing activity declined at its slowest pace in seven months in September, coming closer to stabilising than initially reported, a survey showed on Monday.

8:54am BST

Hammond says will treat investment spending differently

 

BIRMINGHAM, England Chancellor Philip Hammond said on Monday he wanted to treat investment spending differently from day-to-day spending, underscoring his different approach to the public finances to that of his predecessor George Osborne.

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

Desperate uranium miners switch to survival mode despite nuclear rebound

 

LONDON The nuclear industry is gradually recovering from its post-Fukushima slump, but excess capacity keeps uranium prices at record lows, forcing mining companies to mothball mines, slice costs and cut debt as they struggle to survive.

8:49am BST

Nestle and R&R complete Froneri ice cream joint venture

 

ZURICH Food giant Nestle and Britain's R&R Ice Cream have completed a transaction to create their new Froneri ice cream and frozen food joint venture, Nestle said on Monday.

8:46am BST

Spanish factory activity grows in Sept. at fastest rate since April - PMI

 

MADRID, Spanish manufacturing activity grew in September at the fastest rate since April, a survey showed on Monday, with new orders expanding rapidly and little sign of any impact from a nine-month political impasse.

8:19am BST

Dutch manufacturing activity expands steadily in September - PMI

 

AMSTERDAM, Dutch factory activity grew steadily in September, though at a marginally slower pace than in August, while lengthening supplier delivery times hinted that the sector was nudging up against capacity constraints.

8:04am BST

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BOJ playing 'kabuki' by saying it can control yield curve - ex-policymaker

 

TOKYO The Bank of Japan's assertion that it can control the entire span of market interest rates is an exaggeration as in practice it is only targeting the benchmark 10-year bond yield, former BOJ board member Atsushi Mizuno said.

7:49am BST

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Hammond rates UK economy an 'eight out of 10'

 

BIRMINGHAM, England Chancellor, Philip Hammond, scored the recent performance of the country's economy at "eight out of 10" on Monday, buoyed by high employment and strong growth but he said it also faced long-term challenges.

7:48am BST

UK's Weir Group names John Heasley as CFO

 

Engineering company Weir Group Plc said it had named John Heasley as chief financial officer with immediate effect.

7:23am BST

Iran sells first cargoes of oil, condensate to British companies - Mehr news agency

 

DUBAI Iran has sold its first cargoes of natural gas condensate and crude oil to British companies, the director of international affairs at National Iranian Oil Company (NIOC) said on Monday.

7:07am BST

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Deutsche Bank could handle even high-end DOJ fine - Moody's

 

ZURICH Ratings agency Moody's said it would be positive for Deutsche Bank's bondholders if the lender could settle U.S. allegations that it mis-sold mortgage-backed securities for around 2.75 billion euros, or 2.39 billion pounds.

6:58am BST

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Small Japan firms dying out as ageing owners struggle to find successors

 

TOKYO Japan's small firms, many of which are "mom-and-pop" operations, are dying out as their ageing owners struggle to find successors, in another sign that the fast-ageing population is taking its toll on the world's third-largest 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.

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Irish manufacturing activity slows in Sept as employment fails to grow - PMI

 

DUBLIN, Irish manufacturing growth slowed in September, and employment in the sector failed to expand for the first time in over three years, a survey showed on Monday, as factories grappled with the fall-out from Britain's vote to leave the European Union.

6:13am BST

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German minister accuses Deutsche Bank of making speculation its business

 

TEHRAN German Economy Minister Sigmar Gabriel accused Deutsche Bank on Sunday of blaming speculators for last week's plunge in its share price when the bank had itself made speculation its business.

5:10am BST

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Four cities in China restrict property purchases

 

SHANGHAI Four Chinese cities have announced new restrictions on property purchases as the government tries to cool soaring home prices stoked by property speculators in second- and third-tier cities across the country.

3:53am BST

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Whether I serve second term is up to government, parliament - BOJ Kuroda

 

TOKYO Bank of Japan Governor Haruhiko Kuroda said on Monday it was up to the government and parliament to decide whether or not he serves a second term as head of the central bank.

3:31am BST

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Japan big manufacturers' mood flat in fragile economic recovery - BOJ tankan

 

TOKYO Confidence among big Japanese manufacturers was flat in the three months to September and service-sector sentiment worsened to its lowest in nearly two years, the Bank of Japan's closely watched tankan survey showed on Monday, underscoring a fragile economic recovery.

3:03am BST

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Sterling falls in Asia after PM sets Brexit deadline

 

SYDNEY Sterling traded half a U.S. cent lower in early Asia on Monday after British Prime Minister Theresa May said she would trigger the process for the UK to leave the European Union by the end of March.

02 Oct 2016

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Senior Italian bankers to meet Monday over sale of four banks - sources

 

ROME Italy's economy minister has called a meeting with some of the country's top bankers on Monday to discuss stalled efforts to sell four small banks that were rescued from bankruptcy last year, sources said.

02 Oct 2016

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Tesla posts 70 percent rise in quarterly deliveries, backs 2016 target

 

SAN FRANCISCO Tesla Motors Inc said on Sunday its third-quarter deliveries rose 70 percent to 24,500 cars, following production improvements, cheaper lease deals and reports of discounts on some vehicles.

02 Oct 2016

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UK trade minister Fox says wants WTO deal with minimal disruption

 

BIRMINGHAM, England Britain wants to agree post-Brexit terms with the World Trade Organization in a way that causes minimal disruption, trade minister Liam Fox said on Sunday.

02 Oct 2016

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When asked about Nissan ultimatum, trade minister says UK is top for safe investment

 

BIRMINGHAM, England Britain is a number one destination for safe investment, trade minister, Liam Fox, said on Sunday, when asked to comment on a carmaker's appeal for Britain to pay compensation for any tax barriers being put up after Brexit.

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

Next ‘Renewable Energy’: Burning Forests, if Senators Get Their Way

 

By EDUARDO PORTER

 

The president’s Clean Power Plan is being fought by 28 states, and a bipartisan group of senators who want burning wood for electricity to be considered carbon neutral.

 

05PORTER-sfSpan.jpg

Leah Nash for The New York Times

 

Clear-cutting along Highway 30 in Oregon. A bipartisan group of senators wants the government to assume that burning forests to generate electricity does not add carbon dioxide to the air but is instead “carbon neutral.”

 

 

 

Take a Number

 

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A Milestone for Carbon Dioxide in the Atmosphere

 

By JOHN SCHWARTZ

 

Scripps said that levels had recently risen above 400 parts per million, and were likely to stay that way “for the indefinite future.”

 

 

 

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Poll Finds Deep Split on Climate Change. Party Allegiance Is a Big Factor.

 

By TATIANA SCHLOSSBERG 10:00 AM ET

 

Democrats are more likely than Republicans to care deeply about climate change and to believe that it is mainly the result of human activity.

 

 

 

 

 

 

 

 

 

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Subpoenas and Gag Orders Show Government Overreach, Tech Companies Argue

 

By NICOLE PERLROTH and KATIE BENNER

 

Open Whisper Systems received a subpoena for information on its Signal app subscribers and an order not to talk about it, a practice Microsoft and others say is too prevalent, and unconstitutional.

 

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I.M.F. Warns of Anti-Trade Sentiment Amid Weak Global Economy

 

By LANDON THOMAS Jr. 9:06 AM ET

 

The fund forecast that global growth to be 3.1 percent this year and rise to 3.4 percent in 2017.

 

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Judges Push Brevity in Briefs, and Get a Torrent of Arguments

 

By ELIZABETH OLSON 54 minutes ago

 

A proposal to cut the maximum word count of appellate briefs by 1,500 words, to 12,500, had lawyers fuming.

 

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‘We Are a Big Family’: Dealers Unite Against Thefts of Rare Books

 

By SARAH MASLIN NIR 10:05 AM ET

 

The theft of two 16th-century books from a Manhattan shop illustrates how the close-knit world of antiquarian booksellers keeps its treasures safe.

 

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How Shari Redstone Turned the Tide

 

By EMILY STEEL 26 minutes ago

 

Ms. Redstone and her father, Sumner, have made great strides in their personal relationship and the fight for control of his $40 billion media empire.

 

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Four From BuzzFeed Politics Defect to CNN

 

By SYDNEY EMBER

 

Andrew Kaczynski and his team, which has made headlines unearthing audio and video on the campaign trail, leave BuzzFeed short-handed in the final weeks before the election.

 

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Women Shun the Maternity Smock, and Stores Race to Catch Up

 

By RACHEL ABRAMS

 

The maternity aisle is looking more like a high-end boutique as cultural attitudes about pregnancy shift from bigger and baggier to sleeker and stretchier.

 

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Cantor Fitzgerald Gambling Affiliate Settles Investigation

 

By MICHAEL J. de la MERCED

 

The subsidiary, a large sports book runner in Las Vegas, agreed to pay about $22.5 million to settle accusations of illegal gambling and money laundering.

 

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Scrutiny of Commercial Real Estate Loans Chills Small Lenders

 

By ELINOR COMLAY

 

Some local banks are unwinding or selling off property loans that are under regulators’ microscopes, and bankers say they are wary of making new loans.

 

 

 

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

 

 

 

 

7 ways the fall in the value of the pound affects us all

 

What it means for holidaymakers, families, pensioners and workers

 

 

 

 

 

IMF cuts UK 2017 growth forecast again in wake of Brexit vote

 

 

 

 

 

Solar panels surpass coal-fired electricity in UK

 

 

 

 

 

 

 

 

Pound sterling value hits new 31-year low against the dollar

 

Sterling fell beyond its post-Brexit-vote low

 

 

 

 

 

Ryanair to create 3,500 jobs next year

 

 

 

 

 

Amazon bans biased reviews that have been influenced by brands

 

 

 

 

 

 

Can the Bank of England save the Pound?

 

Some analysts are in despair about the state of the British pound. What will Mark Carney do now?

 

 

 

 

 

 

Henderson, Janus tie-Up seen heralding more fund manager mergers

 

A plunging pound and low U.K. corporate tax rate could make U.K. firms attractive targets.

 

 

 

 

 

 

 

 

Mastercard app lets online shoppers pay with a selfie

 

MasterCard is launching its Identity Check Mobile technology in 12 countries

 

 

 

 

 

 

Brexit: Banks will get 'no special treatment' when UK leaves EU

 

The City fears a hard Brexit could prevent firms in London from offering services across the EU

 

 

 

 

 

 

 

 

UK faces 'critical' shortage of homes for rent

 

Royal Institute of Chartered Surveyors warns problem will get worse as buying a home becomes more unaffordable and government policies squeeze supply

 

 

 

 

 

 

Greggs’s health kick pays off as salads and yoghurts help lift sales

 

Total sales at Greggs rose 5.6 per cent in the 13 weeks to 1 October

 

 

 

 

 

Construction returns to growth in September

 

 

 

 

 

Construction returns to growth in September

 

 

 

 

 

 

Saudi Arabians are greeting austerity with satire

 

Royal decrees are becoming the face of social media parody

 

 

 

 

 

 

 

 

These are the 14 countries with the safest banks in the world

 

With speculation rife that Deutsche Bank may be on the brink of collapse under the weight of a massive fine from the US Department of Justice, the safety and security of financial institutions is once again under the spotlight.

 

 

 

 

 

 

Philip Hammond ditches George Osborne's 15% corporation tax cut target

 

In his speech to the Conservative Party conference in Birmingham the new Chancellor made no reference to his predecessor's idea

 

 

 

 

 

 

 

Oil prices rise above $50 for first time since August

 

Brent crude rose above $50 a barrel to its highest price level since August on Monday

 

 

 

 

 

Deutsche Bank gains high profile support from German business leaders

 

 

 

 

 

Manufacturing continues to surge in September

 

 

 

 

 

 

Janus merges with Henderson Global Investors to create a $320bn giant

 

Joint business to have about $6bn market value

 

 

 

 

 

 

 

Pound value drops again after May sets out Brexit plans

 

Theresa May said she will launch formal Brexit talks with EU leaders before the end of March 2017

 

 

 

 

 

Firms expect growth amid calls for clear Brexit strategy

 

 

 

 

 

Brexit is a ‘once-in-a-generation’ chance to save UK’s wildlife

 

 

 

 

 

 

The 19 countries with the highest level of government debt

 

We are now living in a world where interest rates are super-low, even negative in some cases, across some of the richest nations.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deutsche Bank chief Cryan issues reassurance as shares wobble

 

Deutsche's shares hit record lows on Friday morning, but recoveredafter John Cryan's comments

 

 

 

 

 

Asos working conditions to be investigated by MPs

 

 

 

 

 

RBS revives NatWest Markets as it removes its name from its investment

 

 

 

 

 

 

Nissan demands Brexit compensation deal before making UK investment

 

The plant in Sunderland produces about a third of the UK’s car output and is heavily dependent on exports to the single market

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nissan's warning on Brexit is the shape of things to come

 

Trade minister Liam Fox can pout and pontificate all he wants but business leaders are cutting investment and job losses will follow

 

 

 

 

 

 

 

 

Andrew Tyrie blasts banks and regulators over IT failings

 

The Treasury Committee chairman wants faster action to improve banks' creaking IT systems. He has a point

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

FTSE 100 soars as pound slides

 

 

 

 

The FTSE 100 share index comes close to an all-time high after rising above 7,000 points as the pound plunges to a new 31-year low against the dollar.

 

  • 4 October 2016
  • From the section Business

 

 

Related content

 

 

 

 

 

 

 

 

IMF warns of hit to UK economic growth

 

The International Monetary Fund has cut its forecast for UK economic growth next year as it warns the global recovery remains "weak and precarious".

 

  • 4 October 2016
  • From the section Business

 

 

Related content

 

 

 

 

 

 

 

Live Business Live: Pound hits 31-year low

 

Pound sinks to 31-year low against the dollar; FTSE 100 propelled above all-time closing high; Mercedes plans to enter Formula e-racing.

 

 

 

 

 

 

Yahoo 'secretly scanned emails for US'

 

 

 

Banks told to cut financial gobbledygook

 

  • 4 October 2016
  • From the section Business

 

 

Insulin pump 'could be hacked', says J&J

 

  • 4 October 2016
  • From the section Business

 

 

 

 

 

Google launches Pixel phones and Home hub

 

 

 

Amazon ban on incentivised reviews

 

 

 

UK 'faces mass shortage of rental homes'

 

  • 4 October 2016
  • From the section Business
  • comments

 

 

LVMH bags German luggage firm Rimowa

 

  • 4 October 2016
  • From the section Business

 

 

Sport Mercedes sign Formula E agreement

 

 

 

India's central bank cuts interest rates

 

  • 4 October 2016
  • From the section Business

 

 

 

 

Also in the News

 

 

 

Panasonic reveals bendable battery

 

 

 

 

 

Toyota launches 'baby' robot

 

 

 

 

 

Features & Analysis

 

 

 

The levy was dry

 

How could Donald Trump have avoided tax?

 

  • 4 October 2016
  • From the section Business

 

 

 

 

 

Untangling trade

 

What do you want to know about globalisation?

 

 

 

 

 

 

Jeans dreams

 

Reviving the industry in the birthplace of denim

 

  • 4 October 2016
  • From the section Business

 

 

 

 

 

 

 

The untouchables?

 

Is it time to break promises to pensioners?

 

 

 

 

 

 

Driving change

 

Transforming lives in the 'Detroit of Asia'

 

  • 4 October 2016
  • From the section Business

 

 

 

 

 

Killer bots

 

Do intelligent digital helpers spell the end for apps?

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

Oil down after 4-month highs on dollar's rise, stockpile worry

 

NEW YORK Oil settled slightly lower in choppy trade on Tuesday as a surging dollar and anticipation of higher U.S. crude stockpiles offset optimism about planned OPEC output cuts that initially took Brent to four-month highs.

8:03pm BST

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Pound hits 31-year low on 'hard' Brexit worries while UK stocks soar

 

LONDON Sterling slid to its lowest level in more than three decades on Tuesday on fears of a "hard Brexit" from the European Union and its single market, although the weaker pound sent UK stocks surging higher.

7:00pm BST

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UK construction industry shrugs off post-Brexit vote slump - PMI

 

LONDON, Britain's construction industry unexpectedly returned to growth in September, according to a survey that will add to doubts whether the Bank of England will ready more stimulus to offset the hit of June's Brexit vote.

1:12pm BST

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"No question" UK will address London bankers' EU-exit worries - minister

 

BIRMINGHAM, England Britain promised to negotiate an exit deal with the European Union that resolves deep concern in London's financial sector that Brexit will disrupt its business model, David Davis, the minister in charge of the talks, said on Tuesday.

7:16pm BST

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Asked about sterling, PM May says British economy is strong

 

BIRMINGHAM, England Prime Minister Theresa May said on Tuesday that Britain's economy was strong with more positive growth rates than some had expected and, when asked about the fall in sterling, added that currencies "of course go up and down".

5:04pm BST

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Exclusive - Yahoo secretly scanned customer emails for U.S. intelligence: sources

 

SAN FRANCISCO Yahoo Inc last year secretly built a custom software programme to search all of its customers' incoming emails for specific information provided by U.S. intelligence officials, according to people familiar with the matter.

6:10pm BST

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Google makes new hardware push, takes on Apple with Pixel phone

 

SAN FRANCISCO Alphabet Inc's Google on Tuesday announced a new "Pixel" smartphone and a virtual reality headset, making a concerted move into home electronics and challenging Apple Inc's iPhone at the high end of the more than $400 billion global smartphone market.

8:01pm BST

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Wells Fargo account scandal extends to small business -U.S. senator

 

NEW YORK Wells Fargo & Co's account scandal is not limited to its consumer banking sector, U.S. Senator David Vitter told the bank's chief executive in a letter.

8:04pm BST

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Boeing 'making progress' on airplane deal with Iran - CEO

 

CHICAGO Aircraft maker Boeing Co is making progress on a deal to provide more than 100 commercial airplanes to Iran though none will be delivered in 2016, the company's top executive said on Tuesday.

7:18pm BST

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Poland says ended talks with Airbus on helicopter deal

 

WARSAW Poland has scrapped a 13.5 billion zlotys ($3.5 billion) deal for 50 Airbus utility helicopters that were to be delivered to the Polish army, the economy ministry said late on Tuesday.

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

PE firm SVG Capital to sell half of portfolio, wind down

 

British private equity firm SVG Capital Plc said on Tuesday it would sell half of its investment portfolio for 379 million pounds and wind down operations by the end of 2017.

6:59pm BST

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Ericsson job cuts hit Sweden hard as network challenge persists

 

STOCKHOLM Ericsson is cutting about a fifth of its Swedish workforce and hundreds of consultants as demand for its network equipment shrinks and competition from China's Huawei and Finland's Nokia intensifies.

6:17pm BST

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Bank of England's Saunders says not decided on policy vote in November

 

LONDON New Bank of England rate-setter Michael Saunders said Britain's economy was probably growing faster than his colleagues expected in August, but that he had not decided how to vote on policy next month because of slack in the labour market.

6:10pm BST

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Exclusive - Yahoo secretly scanned customer emails for U.S. intelligence: sources

 

SAN FRANCISCO Yahoo Inc last year secretly built a custom software programme to search all of its customers' incoming emails for specific information provided by U.S. intelligence officials, according to people familiar with the matter.

6:10pm BST

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IMF says global growth to stay weak, warns of populist fallout

 

WASHINGTON The International Monetary Fund maintained its forecast for weak global growth on Tuesday and warned that further stagnation will fuel more populist sentiment against trade and immigration that would stifle activity, productivity and innovation.

6:09pm BST

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Deutsche Bank shares recover on support from clients, rivals

 

FRANKFURT Shares in Deutsche Bank rose on Tuesday after major clients and even rivals voiced support for the lender, fearing contagion after concern over its future last week sent the stock to a record low.

6:09pm BST

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Sterling tumbles to 31-year low, oil ticks up

 

NEW YORK Sterling slumped to a 31-year low versus the U.S. dollar on Tuesday as concerns over Britain's separation from the European Union were compounded by the renewed strength of the greenback on a recent string of better-than-expected economic data.

5:51pm BST

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UK banks target eurosceptic ministers as 'hard Brexit' fears grow

 

LONDON As Britain's banks brace for a "hard Brexit" that could sever their links with the EU market, they are changing lobbying strategy and focussing efforts on eurosceptic cabinet ministers to try to secure a transitional period for their industry.

5:44pm BST

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OPEC sights set for now on $50-60 per barrel oil - PIRA's Ross

 

NEW YORK OPEC producers have their sights set on a sustained oil price of $50-$60 per barrel, a modest ambition for the first cut in supply by the oil exporting group in eight years, says one of the industry's top forecasters.

5:38pm BST

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Global stock markets set for modest gains in 2017 - Reuters polls

 

Global equities are forecast to rise modestly in 2017, held back by concerns about the pace of U.S. Federal Reserve interest rate hikes and the waning effect of widespread monetary stimulus that has helped drive shares to lofty heights, Reuters polls show.

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 zone bond yields, euro jump on report of ECB plan for QE tapering

 

LONDON Euro zone bond yields soared across the region and the euro rose late on Tuesday after media reports of an ECB plan for tapering its asset-purchase programme.

5:15pm BST

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Ireland on track for year-end budget deficit of 0.9 percent of GDP

 

DUBLIN Ireland is on track to meet its year-end budget deficit forecast of 0.9 percent of gross domestic product, a finance ministry official said on Tuesday.

5:14pm BST

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Italian olive grove stands in way of European energy security

 

MELENDUGNO, Italy In the name of European energy security, a private guard wearing a navy blue uniform, aviator sunglasses and a baseball cap walks around a grove of olive trees in southern Italy.

5:13pm BST

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Barclays sells Egyptian business to Morocco's Attijariwafa Bank

 

LONDON Britain's Barclays has completed the sale of its Egyptian business to Morocco's Attijariwafa Bank as part of its shift towards focussing on the United States and Britain.

5:10pm BST

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Asked about sterling, PM May says British economy is strong

 

BIRMINGHAM, England Prime Minister Theresa May said on Tuesday that Britain's economy was strong with more positive growth rates than some had expected and, when asked about the fall in sterling, added that currencies "of course go up and down".

5:04pm BST

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Standard Chartered, HSBC issue $500 million letter of credit to Ghana

 

ACCRA HSBC and Standard Chartered issued a $500 million letter of credit to Ghana on Tuesday to guarantee the national oil company's payments for gas extracted from the offshore Sankofa field.

4:58pm BST

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AstraZeneca cuts Brilinta sales hopes on artery disease failure

 

LONDON AstraZeneca's heart drug Brilinta has failed to help patients with serious circulatory problems in their legs, prompting the company to scrap a $3.5 billion-a-year (2.75 billion pounds) sales target for the medicine by 2023.

4:56pm BST

Sarepta partners with UK's Summit on Duchenne drugs

 

Sarepta Therapeutics Inc said it secured the European rights to Summit Therapeutics Plc's experimental Duchenne muscular dystrophy (DMD) drug as it looks to build on its lead in treating the fatal muscle-wasting disease.

4:51pm BST

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Factbox - Deutsche Bank's place on the global financial stage

 

LONDON Deutsche Bank, Germany's biggest lender, is fast becoming the country's - and the world's - biggest financial headache, facing a potential $14 billion fine from U.S. authorities that threatens to hole it below the waterline.

4:47pm BST

Ireland ahead of tax-take schedule due to strong corporate receipts

 

DUBLIN Ireland collected 1.5 percent more tax than expected in the first nine months of the year as continued outperformance in corporate tax receipts helped offset slower than forecast growth in some parts of the domestic 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.

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