The great interest rate rip off part 10

[interestrateripoff]

UK may make it harder to hire foreign workers, employer groups complain

 

BIRMINGHAM, England Britain said it might make it harder for foreign workers and students to move to the country under a new drive to cut immigration, drawing condemnation from employer groups who accused it of threatening the economy at a crucial time.

4:24pm BST

France buys fast trains for slow tracks in pre-election job-saving push

 

BELFORT, France/PARIS The French government on Tuesday ordered 21 high speed TGV trains, most of which may never run on a suitable fast track, in a pre-election bid to preserve jobs at an historic locomotive plant.

3:20pm BST

British government restarts sale of Bradford & Bingley loans

 

LONDON The British government has resumed the sale of a failed bank's 15.65 billion pound mortgage portfolio after it was delayed in the aftermath of the country's vote to leave the European Union, sources familiar with the sale said on Tuesday.

3:00pm BST

London insurance market to carry out catastrophe testing - Hiscox

 

LONDON The London insurance market plans to test its response this month to a major catastrophe on the scale of the 9/11 attacks, the chairman of insurer Hiscox said on Tuesday.

2:45pm BST

Deutsche Bank shares on loan at highest in over a year - Markit

 

LONDON The number of shares in Deutsche Bank out on loan to hedge funds and others hit a more than one-year high of 5.6 percent on Monday, according to data provider Markit.

2:29pm BST

Ex-IMF chief Rato denies misuse of credit cards in Spanish trial

 

MADRID Former International Monetary Fund chief Rodrigo Rato rejected at a trial on Tuesday claims he had misused a corporate credit card during his time at lender Bankia , saying the expenses he accrued were legal and part of his salary.

2:25pm BST

U.S. election, rate outlook to curb Wall St. gains this year - Reuters poll

 

NEW YORK Uncertainty surrounding the U.S. presidential election, expectations for higher interest rates and weak corporate earnings will keep U.S. stocks from advancing much in the fourth quarter, according to strategists in a Reuters poll.

2:18pm BST

Fed's Lacker says rates might need to rise a lot, case for hike strong

 

CHARLESTON, W.V. Richmond Federal Reserve President Jeffrey Lacker on Tuesday said there was a strong case for raising interest rates, arguing that borrowing costs might need to rise significantly to keep inflation under control.

2:17pm BST

Fed's Lacker says would have dissented at September meeting, wants hikes

 

CHARLESTON, W.V. Richmond Federal Reserve President Jeffrey Lacker said on Tuesday he would have dissented at the central bank's September policy meeting had he been able to vote, arguing that interest rates need to rise.

2:17pm BST

EU sets out new rules for handling clearing house failures

 

LONDON All clearing houses for securities trading in the European Union will be required to comply with new rules aimed at managing their financial collapse in a way which does not jeopardise the smooth working of markets, a draft EU law seen by Reuters showed on Tuesday.

Green Eggs and QE? Bank of England urged to ape Dr Seuss

 

LONDON Bank of England speeches are too hard for most people to read - and the central bank should learn from American children's author Dr Seuss, a BoE staff member wrote on Tuesday.

1:53pm BST

Mozambique, Eni sign 20-year LNG sales agreement with BP

 

MAPUTO Mozambique and Italy's Eni have signed a 20-year deal to sell BP liquefied natural gas (LNG), an important step in getting a long-delayed project off the ground, state energy firm ENH said on Tuesday.

1:21pm BST

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

European shares expected to move sideways until June - Reuters poll

 

LONDON European stocks will make little headway before June as concerns about future U.S. rate increases and Britain's move to start its divorce from the European Union discourage investors from placing strong bets, a Reuters poll found.

12:29pm BST

Bank of Italy sees alternatives if sale of rescued banks flops

 

ROME The Bank of Italy is confident there are alternatives to liquidation for four Italian banks rescued from bankruptcy last year if their planned sale falls through, its Director General Salvatore Rossi said on Tuesday.

12:16pm BST

FTSE 100 seen edging lower over the coming year - Reuters poll

 

LONDON Britain's top shares index is expected to lose ground over the coming year, a Reuters poll found, amid concerns over Britain's exit from the European Union and the path of interest rates.

12:10pm BST

Samsung BioLogics may raise $2 billion in South Korea's third-biggest IPO

 

SEOUL Samsung BioLogics Co Ltd, a contract manufacturer of biotech drugs for global pharmaceutical firms, said on Tuesday its initial public raising could raise up to $2 billion (1.57 billion pounds) in an offering set to be the country's third-largest IPO.

11:58am BST

HK tycoon Woo's Wharf agrees to sell telecom unit to TPG, MBK for $1.2 billion - source

 

HONG KONG Hong Kong tycoon Peter Woo's Wharf Holdings Ltd has agreed to sell its telecom business to a consortium of private equity firms TPG Capital Management LP and MBK Partners Inc for HK$9.5 billion (0.96 billion pounds), a person familiar with the matter told Reuters on Tuesday.

11:52am BST

Ireland cuts GDP growth forecast on Brexit concerns

 

DUBLIN Ireland on Tuesday cut its gross domestic product forecast for 2017 on concerns about the fall-out from Britain's vote to leave the European Union and said risks were centred "firmly to the downside."

11:46am BST

Unprepared British consumers face Brexit-driven price squeeze

 

LONDON Any British shoppers tempted by Apple's new iPhone are having to dig deeper into their pockets after June's Brexit vote as the U.S. tech giant raised the sterling price by 60 pounds when the model went on sale on Sept. 16.

[interestrateripoff]

Iran's Zanganeh says non-OPEC cooperation will help steady oil prices - SHANA

 

ANKARA Iran's oil minister said that the cooperation of non-OPEC producers would play an important role in stabilising oil prices, the ministry's official website SHANA reported.

11:35am BST

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

 

India's newly minted monetary policy committee delivered a surprise 25-basis-point cut in the repo rate to 6.25 percent on Tuesday, as Reserve Bank of India Governor Urjit Patel presided over his first policy review since his appointment last month.

11:28am BST

Irish unemployment rate falls sharply to 7.9 percent

 

DUBLIN Ireland's unemployment rate dropped below 8 percent in September for the first time since the financial crisis, with the number of people without a job falling at its fastest pace this year, data showed on Tuesday.

11:20am BST

EU ruling on $25 billion Abbott, St. Jude deal due by November 9

 

BRUSSELS EU antitrust regulators will decide by Nov. 9 whether to clear U.S. pharmaceuticals company Abbott Laboratories' $25-billion (19.6 billion pounds) bid for St. Jude Medical Inc aimed at helping it better compete with bigger rivals.

11:00am BST

UK's Greggs sees higher costs next year

 

LONDON Higher ingredients prices and a weaker pound will drive up costs in 2017, British baker Greggs said on Tuesday, but it will only pass these increases on to consumers as a last resort.

10:56am BST

German financial system 'very stable', head of BGA trade body says

 

BERLIN Germany's financial system is stable and the troubles at Deutsche Bank are not comparable to those that afflicted Lehman Brothers in 2008, the head of Germany's trade and wholesale association said on Tuesday.

10:39am BST

Fintech won't threaten central banks, for now - BOJ official

 

TOKYO Digital currencies won't topple hard money printed by central banks any time soon, particularly in countries such as Japan with a solid, established financial infrastructure, a senior Bank of Japan official said on Tuesday.

10:38am BST

Denmark's DSV eyes more big acquisitions in fragmented freight market

 

COPENHAGEN Denmark's DSV, which became the world's fifth largest freight transportation company by buying up competitors, is considering more large acquisitions to expand in a fragmented market despite weak growth in global trade.

10:27am BST

It's the economy - Duterte not main cause of Philippines market selloff

 

SINGAPORE Philippine markets have been heavily sold down since July, primarily for economic reasons, not the festering row between new President Rodrigo Duterte and traditional ally the United States over his war on drugs, money managers say.

10:21am BST

FTSE tops 7,000-point level, mid-caps hit record high

 

LONDON FTSE 100 index rose above the 7,000-point level for the first time since May 2015 on Tuesday while mid-caps hit an all-time high after sterling fell following Prime Minister Theresa May's announcement of a March 2017 deadline to begin the Brexit process.

Italy's Consob extends, widens short-selling ban on Monte dei Paschi

 

MILAN Italy's market watchdog on Tuesday extended and widened a short-selling ban on Monte dei Paschi di Siena in an effort to ease the troubled bank's capital raising efforts.

10:14am BST

Low rates are here to stay, ECB's Praet tells bankers

 

MADRID The European Central Bank is set to keep its interest rates low until it gets inflation back to its target, the ECB's chief economist said on Tuesday, arguing it was not up to the institution to shore up meagre bank profits.

10:01am BST

ECB's Praet says low interest rates challenging for banks if they persist

 

MADRID A prolonged period of low interest rates could present deeper challenges for banks, the ECB's chief economist Peter Praet said on Tuesday, though he added the central bank's monetary policy had been helpful for the sector overall.

10:01am BST

Royal Mail buys U.S.-based Golden State Overnight Delivery for $90 million

 

Britain's Royal Mail Plc said on Tuesday it acquired California-based regional parcel delivery firm Golden State Overnight Delivery Service Inc (GSO) for $90 million (70.1 million pounds).

9:46am BST

Road to stagnation? China Inc gets a break from lenders

 

HONG KONG Profits at roughly a quarter of Chinese companies in a Reuters analysis were too low in the first half of this year to cover their debt servicing obligations, as earnings languish and loan burdens increase.

9:38am BST

Mid-size bank mergers should be encouraged - Bank of Italy

 

ROME Mergers among Italian mid-size lenders should be encouraged to boost profitability in the sector, Bank of Italy Director General Salvatore Rossi said on Tuesday.

9:21am BST

KKR backs off new China smaller-cap fund as it eyes bigger returns - sources

 

HONG KONG U.S. private equity firm KKR & Co LP has told investors it will refrain from launching a new fund targeting small- and medium-sized companies in China and will instead focus on larger, more profitable buyouts, people familiar with the plans told Reuters.

9:14am BST

Stronger yen, not inflation, will trigger BOJ easing - sources

 

TOKYO The Bank of Japan would deepen negative interest rates to thwart any sharp spikes in the yen, which the central bank sees as an obstacle to stoking inflation and economic growth, sources familiar with its thinking say.

9:10am BST

Hanjin lost 'game of chicken' among global shippers - chairman

 

SEOUL The collapsed Hanjin Shipping Co Ltd could not compete against global rivals that were supported by their governments, the chairman of its parent firm told a parliamentary hearing on Tuesday.

8:35am BST

Spain's September jobless rises for the second straight month after end of tourist season

 

MADRID, The number of people in Spain registering as jobless rose by 0.62 percent in September from a month earlier, or by 22,801 people, leaving 3.72 million people out of work, data from the Labour Ministry showed on Tuesday.

[interestrateripoff]

Carillion wins about 350 million pounds Nationwide Building Society contract

 

British support services firm Carillion said it had signed a seven-year contract to provide facilities management services to Britain's biggest customer-owned lender, Nationwide Building Society.

7:55am BST

IBM sees tipping point at hand for industrial Internet

 

FRANKFURT Plugging computer sensors into factories, cars, shops and offices to help them operate more smartly on the industrial Internet, or so-called Internet of Things (IoT), is moving beyond prototypes into the mass market, IBM said on Monday.

7:39am BST

Majority for Heta settlement reached - Austrian finance minister

 

VIENNA The necessary majority of creditors of Austrian "bad bank" Heta Asset Resolution has agreed a settlement offer to put the country's worst financial disaster in 60 years behind it, Austrian Finance Minister Hans Joerg Schelling said on Tuesday.

7:23am BST

LVMH buys 80 percent of German luggage group Rimowa

 

PARIS French luxury group LVMH said on Tuesday it had reached a deal to buy 80 percent of German high-tech luggage maker Rimowa for 640 million euros (557.62 million pounds).

7:16am BST

Zika vaccine race spurred by crisis and profit potential

 

NEW YORK The race to find protection against the Zika virus is fuelled by something often missing from tropical disease research: the potential for big profit.

6:13am BST

Taiwan orders probe into finance minister, five other officials on Mega Financial oversight

 

TAIPEI Taiwan's government has ordered the island's serving finance minister, his predecessor and four former regulators be investigated to find out whether they bear responsibility for a breach of anti-money laundering rules at the New York branch of state-run Mega Financial Holding's banking arm.

5:51am BST

China September data seen tipping mild pickup in economy

 

BEIJING A flurry of data from China in coming weeks is expected to point to modest improvement in the economy in the third quarter as a government infrastructure spree and a housing boom boosts demand from steel and glass to furniture and appliances.

5:35am BST

News Corp's Australian Netflix challenger shuts up shop

 

SYDNEY An Australian internet streaming company part-owned by News Corp said on Tuesday it will cease operations less than three years after launching, a sign that local start-ups are struggling against larger U.S. rival Netflix Inc.

5:23am BST

Toyota, Daihatsu to set up joint emerging markets company

 

TOKYO Toyota Motor Corp on Tuesday said it will set up a joint internal company with subsidiary Daihatsu to develop and market compact vehicles in emerging markets, as Toyota aims to expand market share in other Asian markets.

4:55am BST

China's foreign trade still faces big downward pressure - Xinhua

 

BEIJING China's foreign trade still faces big downward pressure despite some improvement in August, Xinhua news agency reported on Tuesday, citing Shen Danyang, a spokesman for the Ministry of Commerce.

Dollar gains on upbeat U.S. data, 'hard Brexit' fears beset pound

 

TOKYO The dollar rose against the yen and euro on Tuesday, boosted by some upbeat U.S. economic news, while the pound wallowed near a three-decade low on concerns over a potential "hard Brexit" for Britain.

3:20am BST

Japan stocks to mark first fall in five years in 2016 - poll

 

TOKYO Japanese stocks are set for an annual drop in 2016, ending a four-year 'Abenomics' rally, as corporate earnings are hit by a stronger yen, while uncertainty over the U.S. economy and European financial sector woes hit sentiment, a Reuters poll found.

3:10am BST

BOJ's Kuroda - Don't see immediate damage to banking sector from negative rates

 

TOKYO Bank of Japan Governor Haruhiko Kuroda said on Tuesday he did not see any immediate damage to the country's banking sector from the central bank's negative interest rate policy.

2:15am BST

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.

12:48am BST

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.

12:48am BST

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.

12:48am 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.

12:48am BST

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.

12:48am BST

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.

12:48am BST

PwC says companies now over initial Brexit shock

 

LONDON Auditing and corporate advisory firm PwC [PWC.UL] believes companies have overcome the initial shock of Britain's vote to leave the European Union and are getting on with preparing for the changes that lie ahead, the firm said on Tuesday.

[interestrateripoff]

Canada Moves To Burst Housing Bubble, Closes Foreign-Buyer Loophole

 

The Trumped-Up Myths Behind "Trickle-Down" Economics

 

China Shocker: A Quarter Of All Companies Can't Pay The Interest On Their Debt

 

ECB Spokesman Denies The Governing Council Has Discussed Tapering

 

Canada's Fourth Largest Bank Erases $1 Billion In Excess Capital In Unexpected Accounting Gimmick

 

NYC Real Estate Bubble Bursts As Apartment Sales Crash 20%

 

"This Cannot End Well" Bill Gross Warns

 

IMF Slashes US GDP Growth Outlook: Now Sees US Growing Only 1.6% In 2016

 

Italy's 50 Year Bond Issue Set At €5 Billion: Nearly 4x Oversubscribed

 

More Confessions Of An Economic Hit Man: "This Time, They’re Coming For Your Democracy"

 

Kuroda Ruined His Chance Of A Second Term By Doing "Stupid Things", Abe Advisor Says

[interestrateripoff]

• 
   
  Mark Carney backs prime minister's call for economic shakeup
   
   
  Published: 7:31 PM
  Mark Carney backs prime minister's call for economic shakeup
   
  
• 
   
  Heathrow launches PR drive for third runway pegged to Brexit
   
   
  Published: 7:25 PM
  Heathrow launches PR drive for third runway pegged to Brexit
   
  
• Nils Pratley on finance EasyJet shares come down to earth after years of stratospheric returns
   
   
  Published: 7:15 PM
  
  EasyJet shares come down to earth after years of stratospheric returns
   
  

 

 

• 
  
  • Government could buy developers' unsold homes under £2bn fund
     
     
    Published: 7:04 PM
    Government could buy developers' unsold homes under £2bn fund
     
    
  • Intensive farming v the environment
     
     
    Published: 7:04 PM
    Intensive farming v the environment
     
    
  • Civil service women see gender pay gap grow
     
     
    Published: 6:35 PM
    Civil service women see gender pay gap grow
     
    
  • Hamleys unveils Christmas toys it hopes will fly off the shelves
     
     
    Published: 6:31 PM
    Hamleys unveils Christmas toys it hopes will fly off the shelves
     
    
  • Business live Pound hits another 31-year low as Hammond launches Wall Street charm offensive –as it happened
     
     
    Published: 6:05 PM
    Pound hits another 31-year low as Hammond launches Wall Street charm offensive –as it happened
     
    
  • Theresa May has ditched Osbornomics, but what will she replace it with?
     
     
    Published: 6:03 PM
    Theresa May has ditched Osbornomics, but what will she replace it with?
     
    

  [*]

 

 

• IMF and World Bank launch defence of open markets and free trade
   
   
  Published: 5:34 PM
  IMF and World Bank launch defence of open markets and free trade
   
  
• EasyJet set for drop in annual profits after year of 'extraordinary events'
   
   
  Published: 5:08 PM
  EasyJet set for drop in annual profits after year of 'extraordinary events'
   
  
• Southern rail strike to go ahead after talks collapse
   
   
  Published: 3:36 PM
  Southern rail strike to go ahead after talks collapse
   
  
• Made in Dagenham? Sadiq Khan explores 17-acre studio in east London
   
   
  Published: 2:48 PM
  Made in Dagenham? Sadiq Khan explores 17-acre studio in east London
   
  
• Misys to be refloated on London Stock Exchange
   
   
  Published: 2:10 PM
  Misys to be refloated on London Stock Exchange
   
  
• Sofa factory boss 'disappointed' by Amber Rudd's staffing criticism
   
   
  Published: 1:40 PM
  Sofa factory boss 'disappointed' by Amber Rudd's staffing criticism
   
  
• Market Forces blog Marks & Spencer shares fall on outlook worries
   
   
  Published: 12:09 PM
  Marks & Spencer shares fall on outlook worries
   
  
• Hardworking Britain Meet Sally, trapped in Concentrix’s circle of poverty, debt and fear
   
  Frances Ryan
   
  Published: 12:00 PM
  Meet Sally, trapped in Concentrix’s circle of poverty, debt and fear
   
  
• UK productivity back at pre-crash level, but lagging behind G7
   
   
  Published: 11:34 AM
  UK productivity back at pre-crash level, but lagging behind G7
   
  
• Hard Brexit could cost Scotland £2,000 a head and 80,000 jobs
   
   
  Published: 11:23 AM
  Hard Brexit could cost Scotland £2,000 a head and 80,000 jobs
   
  
• What entrepreneurs want from the 'self-employment revolution'
   
   
  Published: 11:20 AM
  What entrepreneurs want from the 'self-employment revolution'
   
  
• Market Forces blog FTSE falters as Smith & Nephew and easyJet drop, but banks move higher
   
   
  Published: 9:51 AM
  FTSE falters as Smith & Nephew and easyJet drop, but banks move higher
   
  
• Banking inquiry: eight things we learned from the chief executives
   
   
  Published: 9:28 AM
  Banking inquiry: eight things we learned from the chief executives
   
  
• Samsung shares rise to record high as activist investor calls for reforms
   
   
  Published: 8:34 AM
  Samsung shares rise to record high as activist investor calls for reforms
   
  
• Theresa May consigns Cameron to history in populist conference speech
   
   
  Published: 8:20 AM
  Theresa May consigns Cameron to history in populist conference speech
   
  
• Connected for Success Small businesses buoyed by global possibilities after Brexit
   
   
  Published: 7:30 AM
  Small businesses buoyed by global possibilities after Brexit
   
  
• The long read Liquid assets: how the business of bottled water went mad
   
   
  Published: 6:00 AM
  Liquid assets: how the business of bottled water went mad
   
  
• Next stop the Red Sea: Ethiopia opens Chinese-built railway to Djibouti
   
   
  Published: 3:36 AM
  Next stop the Red Sea: Ethiopia opens Chinese-built railway to Djibouti
   
  
• Grogonomics IMF report: in the new normal of the post-GFC world, sideways is the new up
   
  Greg Jericho
   
  Published: 12:51 AM
  IMF report: in the new normal of the post-GFC world, sideways is the new up
   
  
• Rubicon mango drink recalled over signs of fermentation
   
   
  Published: 12:02 AM
  Rubicon mango drink recalled over signs of fermentation
   
  
• Alcohol continues to be sold at 'pocket money prices', report finds
   
   
  Published: 12:01 AM
  Alcohol continues to be sold at 'pocket money prices', report finds
   
  
• Chancellor to tell Wall Street that City will still be financial centre after Brexit
   
   
   
   
   
  

[interestrateripoff]

• 
   
  Young UK women with children less likely to find work, report says
   
   
  Published: 7:03 PM
  Young UK women with children less likely to find work, report says
   
  
• 
   
  Amber Rudd faces backlash from businesses over foreign workers
   
   
  Published: 6:47 PM
  Amber Rudd faces backlash from businesses over foreign workers
   
  
• 
   
  IMF urges governments to tackle record global debt of $152tn
   
   
  Published: 6:36 PM
  IMF urges governments to tackle record global debt of $152tn
   
  

 

 

• 
  
  • Banks inquiry: NAB under scrutiny over staff bans as Greens focus on Westpac political donations
     
     
    Published: 6:30 PM
    Banks inquiry: NAB under scrutiny over staff bans as Greens focus on Westpac political donations
     
    
  • Deutsche needs a convincing case to win over investors, says IMF
     
     
    Published: 6:21 PM
    Deutsche needs a convincing case to win over investors, says IMF
     
    
  • Business live Brexit recession fears fade as UK service sector beats forecasts – as it happened
     
     
    Published: 5:42 PM
    Brexit recession fears fade as UK service sector beats forecasts – as it happened
     
    
  • Southern rail and RMT to hold talks in bid to avert series of strikes
     
     
    Published: 4:07 PM
    Southern rail and RMT to hold talks in bid to avert series of strikes
     
    
  • Workers to protest at McDonald's stores across US over sexual harassment claims
     
     
    Published: 4:00 PM
    Workers to protest at McDonald's stores across US over sexual harassment claims
     
    
  • Governments must heed IMF warning of $152tn global debt timebomb
     
     
    Published: 2:45 PM
    Governments must heed IMF warning of $152tn global debt timebomb
     
    

  [*]

 

 

• Boardroom bosses advised to meet workers to justify pay practices
   
   
  Published: 2:34 PM
  Boardroom bosses advised to meet workers to justify pay practices
   
  
• TalkTalk hit with record £400k fine over cyber-attack
   
   
  Published: 2:00 PM
  TalkTalk hit with record £400k fine over cyber-attack
   
  
• UK new car sales hit record high for September
   
   
  Published: 1:45 PM
  UK new car sales hit record high for September
   
  
• Pension funds and insurers at risk from low interest rates, says IMF
   
   
  Published: 1:45 PM
  Pension funds and insurers at risk from low interest rates, says IMF
   
  
• Sainsbury’s Bank credit card ad banned for being 'socially irresponsible'
   
   
  Published: 12:41 PM
  Sainsbury’s Bank credit card ad banned for being 'socially irresponsible'
   
  
• Bank of England was too pessimistic about Brexit vote – deputy governor
   
   
  Published: 12:32 PM
  Bank of England was too pessimistic about Brexit vote – deputy governor
   
  
• First thoughts Is this the Tory answer to the housing crisis – a coffin-sized existence pod?
   
  Rhiannon Lucy Cosslett
   
  Published: 12:31 PM
  Is this the Tory answer to the housing crisis – a coffin-sized existence pod?
   
  
• Small business minister: late payments are an outrage
   
   
  Published: 12:02 PM
  Small business minister: late payments are an outrage
   
  
• Andrea Arnold shocked at lack of women directors
   
   
  Published: 12:01 PM
  Andrea Arnold shocked at lack of women directors
   
  
• Gummy Bears 3D producers shut down for 'misleading the public'
   
   
  Published: 11:58 AM
  Gummy Bears 3D producers shut down for 'misleading the public'
   
  
• Extreme weather 'Crisis is a way of life': helping farmers cope with devastating climate change
   
   
  Published: 10:58 AM
  'Crisis is a way of life': helping farmers cope with devastating climate change
   
  
• Jockeys advised to avoid high street banks after frauds
   
   
  Published: 10:24 AM
  Jockeys advised to avoid high street banks after frauds
   
  
• Market Forces blog FTSE 100 slips back as gold miners slide but Tesco jumps after update
   
   
  Published: 9:55 AM
  FTSE 100 slips back as gold miners slide but Tesco jumps after update
   
  
• Amber Rudd defends proposal to make firms reveal foreign staff numbers
   
   
  Published: 9:54 AM
  Amber Rudd defends proposal to make firms reveal foreign staff numbers
   
  
• Tesco sales overshadowed by £5.9bn pension hole
   
   
  Published: 8:56 AM
  Tesco sales overshadowed by £5.9bn pension hole
   
  
• Digital business What business leaders should know about machine learning and AI
   
   
  Published: 8:00 AM
  What business leaders should know about machine learning and AI
   
  
• Flexible working gives you freedom, but do you ever clock off?
   
   
  Published: 7:30 AM
  Flexible working gives you freedom, but do you ever clock off?
   
  
• Bank inquiry: some ANZ customers not told about banned advisers
   
   
  Published: 4:39 AM
  Bank inquiry: some ANZ customers not told about banned advisers
   
  
• Social equality More women in startups means more female CEOs down the line
   
  Nicola Hazell
   
   
   
   
  

[interestrateripoff]

World Bank admits some have lost out from free trade

 

 

 

 

An internal document seen by the BBC says globalisation "may have led to rising wage inequality" as the head of the World Bank says more needs to be done to help those who have lost their jobs.

 

• 6 October 2016
  
• From the section Business
  
• comments
  

 

 

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Deutsche Bank cuts another 1,000 jobs

 

Deutsche Bank announces that 1,000 jobs will be cut in Germany, amid worries over the company's financial situation.

 

• 6 October 2016
  
• From the section Business
  

 

 

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Live Business Live: Sterling under $1.27

 

The pound hits a new 31-year low against the dollar and loses ground against the euro; trade bodies in new globalisation push.

 

• From the section Business
  

 

 

 

 

 

Sofa boss rejects Amber Rudd criticism

 

• 6 October 2016
  
• From the section Business
  

 

 

Tech firm set for biggest float of 2016

 

• 6 October 2016
  
• From the section Business
  

 

 

BAE Systems in arms talks with Saudis

 

• 6 October 2016
  
• From the section Business
  

 

 

 

 

 

Pound hits 31-year low on Brexit fears

 

• 6 October 2016
  
• From the section Business
  

 

 

No deal after Southern strike talks

 

• 6 October 2016
  
• From the section England
  

 

 

Fracking given go-ahead by government

 

• 6 October 2016
  
• From the section Lancashire
  

 

 

Easyjet warns of £90m currency hit

 

• 6 October 2016
  
• From the section Business
  

 

 

US blood-test firm cuts labs and staff

 

• 6 October 2016
  
• From the section Business
  

 

 

Furniture shoppers go big or stay home

 

• 6 October 2016
  
• From the section Business
  

 

 

 

 

Also in the News

 

 

 

Row over job advert specifying bra size

 

• 6 October 2016
  
• From the section London
  

 

 

 

 

Newsbeat Boy racks up 100,000 euro online ad bill

 

• 6 October 2016
  
• From the section Home
  

 

 

 

 

Features & Analysis

 

 

 

When businesses mess up

 

From passing up a Google bargain to losing a spacecraft

 

• 6 October 2016
  
• From the section Business
  

 

 

 

 

 

Brexit differences

 

How Sunderland defied Nissan boss

 

• 6 October 2016
  
• From the section Business
  

 

 

 

 

 

Wanna be a Bond?

 

Enter the world of your favourite book or film

 

• 6 October 2016
  
• From the section Business
  

 

 

 

 

 

 

 

Productivity puzzle

 

Why can't the UK keep up with rivals?

 

• 6 October 2016
  
• From the section Business
  

 

 

 

 

 

Ready for business

 

Could you be the next Alan Sugar?

 

• 30 September 2016
  

 

 

 

 

 

Foreign workers

 

Should businesses have to list their non-British staff?

 

• 5 October 2016
  
• From the section UK Politics
  

 

 

 

 

 

 

Our Experts

 

World Bank admits some have lost out from free trade

 

An internal document seen by the BBC says globalisation "may have led to rising wage inequality" as the head of the World Bank says more needs to be done to help those who have lost their jobs.

6 October 2016

 

Kamal Ahmed Economics editor

Why rising shares aren't a sign of joy

 

Does the FTSE 100's record breaking burst reflect a post-Brexit euphoria over the prospects for the UK economy? Not really.

4 October 2016

[interestrateripoff]

Carney downplays rift with Theresa May on Bank's money printing

 

The Bank of England Governor suggested he was not alarmed by the Prime Minister’s words to the Tory Party conference and said he ‘absolutely [did] not’ see them as an attack on the Bank’s independence.

 

 

 

 

 

Pound hits another 31-year low as Philip Hammond heads to Wall Street

 

 

 

 

• London can still be world financial hub despite Brexit, claims Hammond
   
  
  
• Government will not pursue 'hard Brexit' says Hammond
   
  
  
• Brexit could cost Scotland 80,000 jobs and £2,000 per person
   
  
  

 

 

 

 

• One of world's first kite-driven power stations to open in Scotland
   
  
  
• Deutsche Bank cuts another 1,000 German jobs as part of global cuts
   
  
  
• BAE in arms deal with Saudi Arabia despite war crimes allegations
   
  
  

 

 

• Sunderland 'worried' about Nissan's threat to put investment on hold
   
  
  
• California overtakes UK to become 'world's fifth largest economy'
   
  
  
• Twitter shares plummet - Apple, Google and Disney 'unlikely' to bid
   
  
  

 

 

• UK productivity crawls back to 2007 peak
   
  
  
• Pound sterling slide hits EasyJet profits
   
  
  
• BoE Brexit warning, Swiss bank '[problem]', Monsanto: News in brief, 6 Oct
   
  
  

 

 

 

 

Deutsche Bank, Airbnb, and McKinsey use this personality test

 

Companies as varied as Deutsche Bank, Airbnb, and Reebok are turning to Seattle startup Koru to help them recruit graduates.

 

 

 

 

 

 

 

 

UK defence firms reap $60bn from Pentagon contracts under Obama

 

Lucrative contracts include $1.8bn for a bomb disposal robot to $12.4m to a fruit and veg wholesaler who supplied US Air Force bases in the UK

 

 

 

 

 

 

IMF warns of risks to global economy as debt hits record $152trn

 

Fund warns of a a 'vicious cycle' of slow growth and increasing debt.

 

 

 

 

 

 

 

 

Is Theresa May right about the damaging effect of monetary policy?

 

The Prime Minister claimed low interest rates and money printing by the Bank of England has had 'bad side effects'. Are her concerns warranted? And what could she do about it?

 

 

 

 

 

 

Deutsche Bank: is it too big to fail?

 

Markets assume Angela Merkel will protect the giant bank’s private investors because of the risk of contagion – are they right?

 

 

 

 

 

What do immigrants do for the UK economy?

 

 

 

 

 

Casino capitalism, inflation, French tourism: Business news in brief

 

 

 

 

 

 

TalkTalk given record £400,000 fine over data breach

 

The personal data of 156,959 customers including names, addresses, dates of birth, phone numbers were stolen

 

 

 

 

 

 

 

 

The pound keeps hitting new lows: What happens next?

 

HSBC analysts say sterling could keep on falling sharply to hit $1.10 by the end of 2017

 

 

 

 

 

 

Aviva fined £8.2m for failing to keep customers' money safe

 

Insurer broke FCA rules for more than two years after it outsourced admin to third party

 

 

 

 

 

 

 

The top 100 brands in the world have been revealed

 

Technology giants dominate the list, taking 8 of the top 10 positions.

 

 

 

 

 

Brexit could cost £40bn per year and 70,000 jobs, report warns

 

 

 

 

 

September services growth casts doubt on new Bank of England rate cut

 

 

 

 

 

 

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

 

Fears over the UK’s looming exit from the European Union hit the pound again on Wednesday

 

 

 

 

 

 

 

Tesco posts 28.3 per cent profits slump

 

Despite the drop like-for-like sales grew 1 per cent in the half-year to 27 August

 

 

 

 

 

Ryanair to create 3,500 jobs next year

 

 

 

 

 

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

 

 

 

 

 

 

Amazon bans biased reviews that have been influenced by brands

 

Posts written in exchange for free product or discount rated the item in the top 6% in its category, on average.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

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

 

 

 

 

 

 

Mastercard app lets online shoppers pay with a selfie

 

MasterCard is launching its Identity Check Mobile technology in 12 countries

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Solar panels surpass coal-fired electricity in UK

 

For six months until September, more electricity came from sunlight than coal-fired power stations

 

 

 

 

• 
  Brexit: Banks will get 'no special treatment' when UK leaves EU
   
  
  
• 
  UK faces 'critical' shortage of homes for rent
   
  
  
• 
  Greggs’s health kick pays off as salads and yoghurts help lift sales
   
  
  
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  Construction returns to growth in September
   
  
  
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  Pound sterling value hits new 31-year low against the dollar
   
  
  

 

 

 

 

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

[interestrateripoff]

Fracking go-ahead: Government approves Cuadrilla plans, overruling Lancashire council

 

 

• 
  
• 06 Oct 2016, 6:06pm Pound skids to fresh 31-year low and FTSE 100 closes below 7,000 on fears of hard Brexit
   
   
   
  
• 06 Oct 2016, 10:03am EasyJet braces for £90m profit hit from currency plunge
   
   
   
  
• 06 Oct 2016, 6:04pm Christine Lagarde defends IMF's "very, very bad" Brexit warnings
   
   
   
  
• 06 Oct 2016, 1:22pm Foreign investors race to snap up London commercial property after Brexit vote
   
   
   
  

 

• 06 Oct 2016, 7:19am Comment: Theresa May's speech shows that free-market ideas are in decline
   
   
   
   
  
• 05 Oct 2016, 8:13pm Comment: Deutsche Bank is latest victim of America’s Treasury war
   
  Pension fund manager L&G urges firms to publish pay gap between bosses and workers
   
   
   
  
• 
  
• 05 Oct 2016, 7:21pm Comment: Tesco reveals there is momentum behind its turnaround
   
  Christopher Williams
   
   
   
   
  
• 05 Oct 2016, 2:45pm Global debt hits all-time high of $152 trillion as IMF warns of world-wide economic stagnation
   
   
   
  
• WANdisco founder in dramatic return a week after being sacked
   
   
   
  
• 05 Oct 2016, 11:57am Inside the 2016 Apprentice house: A plush Hampstead mansion for £9,000 per week
   
   
   
  
• 06 Oct 2016, 8:48am Banking software group Misys plans return to the London Stock Exchange
   
   
   
  
• 06 Oct 2016, 3:43pm Is Paul Romer in line for the economics Nobel prize?
   
   
   
  
• 06 Oct 2016, 1:15pm PPI complaints stabilise ahead of 2019 deadline
   
   
   
  
• Gallery
  06 Oct 2016, 2:13pm Gallery: The most original and beautiful arty properties around the world
   
   
   
  
• Deutsche Bank slashes extra 1,000 jobs
   
   
   
  
• 06 Oct 2016, 3:43pm Is Paul Romer in line for the economics Nobel prize?
   
   
   
  
• 06 Oct 2016, 2:36pm Sterling falls to record low against top trading partners
   
   
   
  

[interestrateripoff]

Deutsche Bank as Next Lehman Brothers: Far-Fetched but Not Unthinkable

 

By JAMES B. STEWART 11:32 AM ET

 

Global markets have roiled recently over fears that Deutsche Bank will not be able to absorb a $14 billion fine from the Justice Department.

 

• Deutsche Bank to Cut an Additional 1,000 Jobs in Germany
  

SHANNON STAPLETON/Reuters

 

An electronic ticker in New York on Sept. 15, 2008, the day Lehman Brothers filed for bankruptcy.

 

 

 

 

 

 

 

 

 

• Wall St. Is Mixed as Oil Prices Rice 12:19 PM ET
  

 

191 Countries Adopt Plan to Offset Jet Emissions

 

By HENRY FOUNTAIN 1:33 PM ET

 

The measure takes effect in 2021 and will for the first time reduce the climate impact of international jet travel. The first six years will be voluntary.

 

Mars to Take Full Control of Wrigley

 

By MICHAEL J. de la MERCED 1:05 PM ET

 

The candy company will buy out the minority stake held by Warren Buffett for an undisclosed sum and combine Wrigley with its chocolate business.

 

Megyn Kelly and Sean Hannity Indulge in Testy Public Clash

 

By MICHAEL M. GRYNBAUM 11:18 AM ET

 

The two Fox News anchors criticized each other’s treatment of the presidential candidates, with Mr. Hannity accusing Ms. Kelly of supporting Hillary Clinton.

 

Twitter’s Fate: Marc Benioff of Salesforce Addresses Acquisition Talk

 

By QUENTIN HARDY

 

The tech world has been buzzing since it heard that the online software company Salesforce was interested in bidding for Twitter.

 

Yahoo Said to Have Aided U.S. Email Surveillance by Adapting Spam Filter

 

By CHARLIE SAVAGE and NICOLE PERLROTH

 

A system built to scan emails for spam, child pornography and malware allowed Yahoo to search for a terrorist organization’s “signature” to satisfy a secret court order, several sources say.

 

• 49 Comments
  

 

N.S.A. Contractor Arrested in Possible New Theft of Secrets

 

By JO BECKER, ADAM GOLDMAN, MICHAEL S. SCHMIDT and MATT APUZZO

 

The F.B.I. is investigating whether Harold T. Martin III, a National Security Agency contractor, stole and disclosed highly classified computer code, officials said.

 

• 986 Comments
  

 

What Is a ‘Personal Benefit’ From Insider Trading? Justices Hear Arguments

 

By BEN PROTESS and MATTHEW GOLDSTEIN

 

The issue turns on whether friendship or family relationship amounts to a benefit comparable to money that would make providing an insider tip illegal.

 

Oil Glut? Here Comes Some More!

 

By CLIFFORD KRAUSS

 

Oil finds in Texas and Alaska come at a time when the industry is struggling with low prices and faces pressure to leave hydrocarbons in the ground.

 

Southwest Flight Evacuated After Samsung Phone Catches Fire, Airline Says

 

By JONAH ENGEL BROMWICH

 

Flight 994 in Louisville, Ky., was about to take off for Baltimore, when a passenger’s replacement Galaxy Note 7 began emitting smoke.

 

An Alarming 10% Rise in Traffic Deaths in the First Half of 2016

 

By DANIEL VICTOR

 

Auto fatalities rose to 17,775 in the first six months of the year from 16,100 in the same period in 2015.

 

‘Patriots Day’ Eases Into Promotion With Solemn Tone

 

By BROOKS BARNES

 

To market the movie, which revisits the 2013 Boston Marathon bombing, CBS Films has slowly introduced the first trailer, which emphasizes patriotism and community.

 

 

 

• Fox Reporter Accused of Racism for Chinatown Interviews Expresses ‘Regret’ 1:49 PM ET
  
• National Book Awards Finalists Include Colson Whitehead and Viet Thanh Nguyen 10:30 AM ET
  
• Theranos to Close Labs and Lay Off 340 Workers 1:31 PM ET
  
• US Claims for Jobless Aid Drop to Lowest Since Mid-April
  
• In Visceral Ads for Hillary Clinton, Donald Trump Does All the Talking
  
• How Much Is It Worth to Hold Your Newborn? $40, Apparently
  
• Call Centers in India Posed as I.R.S. to Cheat U.S. Taxpayers, Authorities Say
  
• Blue Origin, Jeff Bezos’ Rocket Company, Passes an In-Flight Escape Test
  

[interestrateripoff]

Sterling drops to 31-year low on "hard Brexit", May angst

 

LONDON Sterling fell to a 31-year low on Thursday on fears of a "hard" exit by Britain from the European Union and Prime Minister Theresa May's comments on the impact of loose monetary policy, which some saw as a thinly veiled attack on the Bank of England.

6:07pm BST

Dollar strengthens on robust U.S. data; gold falls

 

NEW YORK The U.S. dollar gained on Thursday against a basket of currencies, hitting its strongest level in more than two months and pressuring gold prices, as strong labour market data gave support to a possible U.S. interest rate hike later this year.

7:24pm BST

Twitter shares plunge on report bidders are scarce

 

Twitter Inc shares plunged on Thursday as fears mounted that a much-anticipated auction of the social media company will draw minimal interest from potential buyers.

6:50pm BST

U.S. charges 6 soldiers with selling military equipment overseas

 

WASHINGTON Eight people, including six soldiers, have been charged with stealing more than $1 million worth of sensitive U.S. Army equipment and selling the gear on eBay to buyers in Russia, China and other countries, the Justice Department said on Thursday.

7:54pm BST

Oil hits 4-month highs as OPEC keeps talks of cuts in focus

 

NEW YORK Oil rose more than 1 percent to four-month highs on Thursday, spurred by another informal OPEC meeting on output cuts and plunging U.S. crude inventories, with some saying the market has overshot itself with a near 15-percent gain in seven sessions.

7:54pm BST

Pimco Income Fund, overseen by Ivascyn, posts $1.2 billion inflow in September

 

NEW YORK The Pimco Income Fund, overseen by group chief investment officer Dan Ivascyn, posted inflows of $1.2 billion in September, according to Morningstar data on Thursday.

7:43pm BST

Apple shares perk up after strong report from iPhone chip supplier

 

SAN FRANCISCO Shares of Apple Inc rose 1 percent on Thursday after German supplier Dialog Semiconductor Plc said its quarterly revenue were higher than expected, adding to recent enthusiasm about demand for the newest iPhone.

7:33pm BST

Judge questions Airbnb stance on San Francisco rental law

 

SAN FRANCISCO A U.S. judge expressed scepticism towards a bid by Airbnb to halt a San Francisco law that imposes fines on home rental companies for processing bookings by hosts not registered with the city.

7:22pm BST

Mars to take full control of Wrigley's with Buffett stake buy

 

Candy maker Mars Inc said on Thursday it would buy out billionaire investor Warren Buffett's minority stake in its Wrigley chewing gum business, taking full control.

7:47pm BST

German companies ready to provide capital for Deutsche Bank - Handelsblatt

 

BERLIN The chief executives of several German blue-chip companies have discussed Deutsche Bank's problems and are ready to offer a capital injection if needed to shore up Germany's largest lender, newspaper Handelsblatt reported on Thursday.

Twitter shares plunge on report bidders are scarce

 

Twitter Inc shares plunged on Thursday as fears mounted that a much-anticipated auction of the social media company will draw minimal interest from potential buyers.

6:50pm BST

Twitter to conclude sale deliberations this month - sources

 

Twitter Inc has told potential acquirers it is seeking to conclude negotiations about selling itself by the time it reports third-quarter earnings on Oct. 27, according to people familiar with the matter.

6:32pm BST

Twitter drops 9 percent after report that Google won't bid

 

SAN FRANCISCO Shares of Twitter slumped 9 percent late on Wednesday after Recode reported that Google, owned by Alphabet, would not move forward with a bid to acquire the social network.

6:32pm BST

IMF Chief gives Deutsche Bank tough advice on reform, need for fine deal

 

WASHINGTON/FRANKFURT IMF chief Christine Lagarde gave Deutsche Bank some tough advice on Thursday, saying Germany's biggest lender needed to reform its business model and reach a rapid deal with U.S. regulators over a potentially huge fine.

6:32pm BST

German finance minister - no comment on whether Berlin could rescue Deutsche

 

WASHINGTON German Finance Minister Wolfgang Schaeuble said on Thursday he had no comment on whether the German government would be ready to rescue Deutsche Bank .

6:18pm BST

Hammond says would like Carney to extend time at BoE

 

LONDON Chancellor Philip Hammond said on Thursday he would like Bank of England Governor Mark Carney to serve a full eight-year term at the central bank, rather than leave in 2018 as he originally agreed.

6:12pm BST

Sterling drops to 31-year low on "hard Brexit", May angst

 

LONDON Sterling fell to a 31-year low on Thursday on fears of a "hard" exit by Britain from the European Union and Prime Minister Theresa May's comments on the impact of loose monetary policy, which some saw as a thinly veiled attack on the Bank of England.

6:07pm BST

Vodafone's Indian unit spent $3 billion-plus in spectrum auction - source

 

Vodafone Group's Indian unit has bought spectrum worth more than 200 billion rupees (2.36 billion pounds) in a government auction that ended on Thursday, a source with knowledge of developments told Reuters.

6:06pm BST

SVG Capital accepts bid from Goldman and Canadian pension fund

 

SVG Capital accepted an offer from Goldman Sachs and the Canada Pension Plan Investment Board on Thursday, saying it gave shareholders a better return than a hostile bid from U.S. private equity rival HarbourVest.

5:50pm BST

Theresa May on BoE: new mood music or warning shot?

 

LONDON Was Prime Minister Theresa May sending a warning to Bank of England Governor Mark Carney when she highlighted the damaging side-effects of his ultra-low interest rates?

[interestrateripoff]

PM May's monetary policy comments not an attack on BOE - Carney

 

WASHINGTON Prime Minister Theresa May's comments on the distributional consequences of the Bank of England's low interest rate policy are not an attack on the central bank's independence, Governor Mark Carney said on Friday.

5:42pm BST

FTSE falters as easyJet slumps after profit warning

 

LONDON Britain's top shares index fell on Thursday, although it remained near record highs, with budget airline easyJet sliding lower after issuing a profit warning.

5:26pm BST

U.S. jobless claims fall, point to labour market strength

 

WASHINGTON The number of Americans filing for unemployment benefits unexpectedly fell last week to near a 43-year low, an indication of firmness in the labour market which may support an interest rate increase by the U.S. Federal Reserve this year.

5:22pm BST

Yum blames South China Sea protests for dip in China sales

 

Yum Brands Inc , owner of KFC and Pizza Hut, blamed tensions over the South China Sea for an unexpected dip in quarterly sales at its established restaurants in China.

5:07pm BST

OPEC and Russian officials plan informal talks in Istanbul

 

DUBAI Energy ministers from Saudi Arabia, Iran and Iraq will be among representatives of key OPEC producers meeting Russian officials for informal talks on oil output in Istanbul next week, OPEC sources and the Russian energy minister said on Thursday.

5:05pm BST

Security fears, weak pound punish easyJet

 

LONDON British budget airline easyJet warned that annual profit had fallen by more than a quarter and hinted that trading would remain tough as fares continue to decline and a weak pound weighs, sending its shares down 6 percent.

4:55pm BST

Germany's Merkel says plans tax cuts worth 6 billion euros

 

BERLIN Germany plans tax cuts worth up to six billion euros (5.27 billion pounds) for 2017 and 2018, Chancellor Angela Merkel said on Thursday, adding that the good shape of the economy allowed for fiscal flexibility.

4:52pm BST

Fighting fires - Samsung struggles to limit damage from smartphone recall

 

SEOUL Heated meetings, sacrificed holidays and teams monitoring social media round-the-clock to track whether there have been any new smartphone fires: Samsung Electronics is still desperately trying to limit the damage of a record global recall announced more than a month ago.

4:50pm BST

Pfizer to sell Hospira infusion therapy business to ICU Medical

 

Pfizer Inc said on Thursday it would sell its global infusion therapy business, part of its $15 billion (11.8 billion pounds) Hospira acquisition last year, to ICU Medical Inc for $1 billion in cash and stock.

4:30pm BST

Deutsche Bank, others must reexamine business models - IMF chief

 

WASHINGTON Deutsche Bank and many other major banks need to reexamine their business models to maintain long-term profitability in a very low interest rate environment, International Monetary Fund Managing Director Christine Lagarde said on Thursday.

Deutsche Bank, others must reexamine business models - IMF chief

 

WASHINGTON Deutsche Bank and many other major banks need to reexamine their business models to maintain long-term profitability in a very low interest rate environment, International Monetary Fund Managing Director Christine Lagarde said on Thursday.

4:24pm BST

Hammond says will decide on any further QE 'carefully and cautiously' - CNBC

 

WASHINGTON Any future decision on whether the British government should approve another round of quantitative easing to spur the economy will be taken "carefully and cautiously," Chancellor Philip Hammond said on Thursday.

4:08pm BST

EU's Dombrovskis says European banking sector working well

 

WASHINGTON The European banking sector is working well and developing in the right direction despite issues at individual institutions in Germany or Italy, European Commission Vice President Valdis Dombrovskis said on Thursday.

3:49pm BST

UK crime agency investigating six in relation to Irish 'bad bank' sale

 

BELFAST Six people are under criminal investigation in connection with the sale by Ireland's state-run "bad bank" of a multi-billion-pound portfolio of Northern Irish loans, the head of Britain's National Crime Agency (NCA) was quoted as saying on Thursday.

3:46pm BST

Chancellor Hammond says to focus on per capita GDP growth after Brexit

 

LONDON Chancellor Philip Hammond said on Thursday that he would focus on increasing the country's economic output by improving productivity, but that overall growth could slow as Britain barred most low-skilled European Union migrants.

3:46pm BST

BP Plc to get permission to set up fuel stations in India

 

MUMBAI India has decided to permit European oil major BP Plc to set up 3,500 fuel stations in the country, an oil ministry spokesman told Reuters on Thursday.

3:12pm BST

Euro zone private consumption surprisingly strong: ECB's Praet

 

NEW YORK Consumer confidence and consumption has recovered surprisingly well in the euro area even if the real economy is still performing relatively modestly, European Central Bank chief economist Peter Praet said on Thursday.

2:46pm BST

UK's economic productivity finally returns to pre-crisis peak - ONS

 

LONDON Britain's economic productivity - the key driver of living standards - has finally clawed back the ground it lost during and after the financial crisis, but remains almost a fifth below where it might have been had the crisis never happened.

1:33pm BST

Finance chief at UK's Serious Fraud Office given additional COO role

 

LONDON The UK's Serious Fraud Office (SFO) has appointed finance director Mark Thompson as chief operating officer to free up director David Green to focus on strategy and cases.

1:05pm BST

UK to buy unsold new homes to spur construction - trade magazine

 

LONDON Britain's government will buy unsold homes built by developers using a 2 billion pound fund announced earlier this week, a move designed to get construction firms to commit to bigger projects, a trade journal reported on Thursday.

[interestrateripoff]

Exclusive - PDVSA eyes $4.7 billion debt issue to pay service companies

 

CARACAS Venezuelan state oil company PDVSA is seeking to issue up to $4.7 billion (3.7 billion pounds) in debt securities to settle unpaid bills to contractors, according to a document seen by Reuters, as the cash-strapped firm scrambles to cope with low oil prices.

12:04pm BST

El-Erian says PM May's comments unlikely to have immediate impact on BoE policy

 

LONDON Prime Minister Theresa May's criticism of low interest rates and quantitative easing are unlikely to have an immediate impact on Bank of England policy, Allianz's Mohamed A. El-Erian told Reuters.

11:51am BST

BlackRock says BoE could pause as debate swirls around monetary policy

 

LONDON The head of bonds at the world's largest asset manager said on Thursday that the Bank of England could hold off easing monetary policy, as a debate swirls around the effectiveness of its measures to protect the economy.

11:31am BST

Strong German data allay growth concerns, Merkel promises tax cuts

 

BERLIN Strong demand from euro zone countries and domestic customers drove a bigger-than-expected rise in German industrial orders in August, suggesting factories will contribute to growth in Europe's economic powerhouse in coming months.

11:27am BST

Irish central bank cuts 2016 growth forecast, sees adverse risks

 

DUBLIN Ireland's central bank said on Thursday it had cut its economic growth forecast for the second quarter in a row, citing weakness in exports and domestic demand.

11:16am BST

Bank of England faces quandary as UK weathers early Brexit hit

 

LONDON The Bank of England, which signalled a few weeks ago that a fresh interest rate cut was likely next month, has been put on the spot by signs that Britain's economy has weathered the initial shock of the Brexit vote better than expected.

11:03am BST

Pound down, stocks up, economy flat: What do Brexit swings mean for you?

 

LONDON Sterling has tumbled to a 31-year low, but British stocks are near a record high and, contrary to many expert forecasts, the shock of Brexit has not pushed the British economy off a cliff.

11:02am BST

Raiffeisen leaves leadership issue open as merger talks drag on

 

VIENNA Austria's Raiffeisen Bank International and its parent Raiffeisen Zentralbank left open on Thursday the issue of who will lead them if their planned merger is completed, and said talks on the deal price would probably drag on for months.

10:40am BST

BAE Systems sees more Typhoon orders, reiterates outlook

 

LONDON British defence group BAE Systems said it expected more orders for its Typhoon fighter jets following talks with current and prospective customers, as it reiterated its forecast for full-year earnings.

10:38am BST

OPEC could cut output more than Algiers deal if needed - Algeria minister

 

ALGIERS OPEC could cut production at its November meeting in Vienna by another one percent more than the amount agreed in Algiers last month, if producers evaluate it is needed, Algeria's Energy Minister Nouredine Bouterfa has told local Ennahar TV.

Citi says 'time to buy' European banks

 

LONDON Citi analysts upgraded their recommendation on Europe's beleaguered banks to "overweight" within regional portfolios, citing signs of improvement in the credit cycle and loan growth as well as cheap relative valuations.

9:34am BST

Origi to wait for his chance at Liverpool

 

Liverpool striker Divock Origi is not too worried about his lack of starts this season and knows that with the club just two points off the top, and tied with leaders Manchester City in the goalscoring charts, he will have to wait for his chance.

9:31am BST

Asia FX outlook improves as hesitant Fed chains dollar - poll

 

BENGALURU The outlook for emerging Asian currencies has brightened somewhat in recent months, as receding expectations of rapid rate hikes in the U.S. restrain the dollar and China's economy shows tentative signs of stabilising, a Reuters poll found.

9:17am BST

World food prices rise to highest in 18 months in September

 

ROME World food prices rose in September to their highest since March 2015, led mainly by sugar, the United Nations food agency said on Thursday.

9:14am BST

Amazon keeps up UK investment push with Daventry centre

 

LONDON Online retailer Amazon said on Thursday it would create over 300 new jobs next year when it opens a distribution centre in central England, maintaining a wave of investment in Britain.

9:11am BST

Elliott push for Samsung makeover puts founding family plans under microscope

 

SEOUL Samsung Electronics Co shares jumped to a record high on Thursday after activist investor Elliott Management submitted unsolicited proposals for a radical corporate makeover at the world's biggest smartphone maker.

9:08am BST

RBS CEO says may consider Irish acquisitions a year from now - Irish Independent

 

DUBLIN Royal Bank of Scotland may consider acquisitions for its Irish business a year from now, but it will not grow at any cost and is wary of taking on problem loans from other lenders, Chief Executive Ross McEwan told the Irish Independent on Thursday.

8:57am BST

British banking software group Misys to return to stock market

 

LONDON British banking software services company Misys expects to raise around 500 million pounds when it returns to the London Stock Exchange in a flotation planned for early November, it said on Thursday.

8:44am BST

Easy ECB policy necessary to stimulate economy - Liikanen

 

HELSINKI The European Central Bank's ultra-easy monetary policy of low interest rates and aggressive bond buying is necessary to support the euro zone's economy, ECB rate setter Erkki Liikanen said on Thursday.

8:35am BST

China's easy loans expected to drive home prices, despite tightening

 

HONG KONG Readily available, cheap mortgages and strong demand are likely to keep China's property market rising, even if restrictions announced in more than a dozen cities over the past week dampen sales and prices over the short term, real estate agents said.

[interestrateripoff]

World food prices rise to highest in 18 months in September

 

ROME World food prices rose in September to their highest since March 2015, led mainly by sugar, the United Nations food agency said on Thursday.

9:14am BST

Amazon keeps up UK investment push with Daventry centre

 

LONDON Online retailer Amazon said on Thursday it would create over 300 new jobs next year when it opens a distribution centre in central England, maintaining a wave of investment in Britain.

9:11am BST

Elliott push for Samsung makeover puts founding family plans under microscope

 

SEOUL Samsung Electronics Co shares jumped to a record high on Thursday after activist investor Elliott Management submitted unsolicited proposals for a radical corporate makeover at the world's biggest smartphone maker.

9:08am BST

RBS CEO says may consider Irish acquisitions a year from now - Irish Independent

 

DUBLIN Royal Bank of Scotland may consider acquisitions for its Irish business a year from now, but it will not grow at any cost and is wary of taking on problem loans from other lenders, Chief Executive Ross McEwan told the Irish Independent on Thursday.

8:57am BST

British banking software group Misys to return to stock market

 

LONDON British banking software services company Misys expects to raise around 500 million pounds when it returns to the London Stock Exchange in a flotation planned for early November, it said on Thursday.

8:44am BST

Easy ECB policy necessary to stimulate economy - Liikanen

 

HELSINKI The European Central Bank's ultra-easy monetary policy of low interest rates and aggressive bond buying is necessary to support the euro zone's economy, ECB rate setter Erkki Liikanen said on Thursday.

8:35am BST

China's easy loans expected to drive home prices, despite tightening

 

HONG KONG Readily available, cheap mortgages and strong demand are likely to keep China's property market rising, even if restrictions announced in more than a dozen cities over the past week dampen sales and prices over the short term, real estate agents said.

8:33am BST

China eyes progress at APEC for China-backed free trade area

 

BEIJING China hopes to see progress at next month's summit in Peru of the Asia Pacific Economic Cooperation (APEC) bloc in pushing ahead with a Chinese-backed trade liberalisation framework, China's foreign minister said while on a trip to Lima.

8:25am BST

Replacement Samsung Note 7 phone emits smoke on U.S. plane - family

 

LOUISVILLE, Ky. A replacement model of the fire-prone Samsung Note 7 smartphone began smoking inside a U.S. plane on Wednesday, the family that owns it said, prompting fresh investigations by the Consumer Product Safety Commission and the Federal Aviation Administration.

7:55am BST

Fuji Heavy recalls 100,000 Subaru cars to fix air pump switch

 

TOKYO Japan's Fuji Heavy Industries said on Thursday it was recalling about 100,000 of its Subaru-branded vehicles in Japan to fix a problem with an air pump switch located in the main fuse box.

Don't expect JGB supply to run out for QE - BOJ Gov Kuroda

 

TOKYO Bank of Japan Governor Haruhiko Kuroda said on Thursday that he does not expect the central bank will run out of government bonds to purchase for its quantitative easing programme.

7:06am BST

Japan insurer Aioi Nissay says would like steeper yield curve

 

TOKYO The Bank of Japan's decision to set a target for 10-year government bond yields is a good start but it would like to see the yield curve steepen a bit more and boost profits and returns for investors, Aioi Nissay Dowa Insurance said on Thursday.

7:03am BST

Yahoo scan by U.S. fell under foreign spy law expiring next year - sources

 

WASHINGTON A Yahoo operation in 2015 to scan the incoming email of its customers for specific information requested by the U.S. government was authorized under a foreign intelligence law, parts of which will expire next year, two U.S. government officials familiar with the matter said.

6:28am BST

China golf out of the rough? PGA, club maker Honma bet on post-Olympic boom

 

HONG KONG A year after China ordered public officials off the fairways in a crackdown on graft, the business of golf is betting hunger for the game among middle class fans and an Olympic medal for a home-grown star can drive the sport back to growth.

6:08am BST

Wal-Mart's next move against Amazon - More warehouses, faster shipping

 

CHICAGO Wal-Mart Stores Inc is accelerating its investment in e-commerce in a bid to narrow the gap with Amazon.com Inc and to give it an even more dominant position against the rest of the field in retail.

6:05am BST

Lenovo in talks to take over Fujitsu's PC business - source

 

TOKYO China's Lenovo Group Ltd is in talks to bring Fujitsu Ltd's personal computer business under its control, allowing the Japanese company to focus on IT services and other businesses, a source with direct knowledge of the talks said.

5:08am BST

Venture capitalists invest $56 billion in startups so far in 2016

 

SAN FRANCISCO Venture capitalists poured $15 billion (11.78 billion pounds) into startups in the third quarter, putting this year on pace to be the third largest ever for investment activity, according to a report released on Thursday.

5:03am BST

Exclusive - McDonald's nears deal to sell Singapore, Malaysian franchise to Saudi group: sources

 

HONG KONG/SINGAPORE McDonald's Corp is set to agree a deal to sell 20-year franchise rights for its Singapore and Malaysia outlets to Saudi Arabia's Reza group for up to $400 million (313.96 million pounds), as part of a re-jig of its Asian business, people familiar with the matter said.

4:22am BST

Nobel laureate Stiglitz sees Italy, others leaving euro zone in coming years

 

BERLIN Nobel Prize-winning economist Joseph Stiglitz predicted in a interview out on Wednesday that Italy and other countries would leave the euro zone in coming years, and he blamed the euro and German austerity policies for Europe's economic problems.

3:11am BST

Samsung Electronics to carefully review Elliott proposals, shares hit record high

 

SEOUL/NEW YORK Tech giant Samsung Electronics Co Ltd said on Thursday it will carefully review proposals made by U.S. hedge fund Elliott Management for restructuring and a special dividend, pushing the firm's shares to a record high.

[interestrateripoff]

Hammond to tell Wall Street that London still top finance hub despite Brexit

 

LONDON Chancellor of exchequer Philip Hammond, on his first trip to Wall Street since being appointed in July, plans to assure some of the top U.S. top banks on Thursday that Britain is still the world's leading global finance hub despite its Brexit vote.

1:50am BST

Samsung Elec says carefully considering Elliott's proposals

 

SEOUL Tech giant Samsung Electronics Co Ltd said on Thursday it is carefully considering proposals by U.S. hedge fund Elliott Management and said it "believes in constructive and open dialogue" with investors.

1:36am BST

Australia watchdog cites concerns on bids for Glencore coal rail arm

 

MELBOURNE Australia's competition watchdog raised concerns about bids from the nation's two biggest coal haulers for Glencore Plc's coal rail business and said it would decide by December whether to allow them to go ahead.

1:09am BST

Fed's Fischer says low neutral rate a sign of potential economic trouble

 

WASHINGTON Evidence that the so-called natural rate of interest has fallen to low levels could mean the economy is stuck in a low-growth rut that could prove hard to escape, Federal Reserve Vice Chair Stanley Fischer said on Wednesday.

12:19am BST

WADA urges athletes to check accuracy of hacked data

 

The World Anti-Doping Agency (WADA) said on Wednesday that some of the athlete data leaked by a Russian cyber espionage group has been changed from its initial form, and has asked "affected parties" for feedback on any inaccuracies.

12:13am BST

Samsung Electronics to acquire artificial intelligence firm Viv, run by Siri co-creator

 

SEOUL Tech giant Samsung Electronics Co Ltd said on Thursday it is acquiring U.S. artificial intelligence (AI) platform developer Viv Labs Inc, a firm run by a co-creator of Apple Inc's Siri voice assistant programme.

12:04am BST

Getting into U.S. election spirit, Jose Cuervo postpones IPO - sources

 

MEXICO CITY Mexico's Jose Cuervo, the world's biggest tequila producer, has delayed its planned initial public offering and will wait until after the U.S. presidential election before going ahead, three people familiar with the matter said on Wednesday.

05 Oct 2016

Chesapeake shores up capital with $1.25 billion debt deal

 

U.S. natural gas producer Chesapeake Energy Corp closed a private placement of $1.25 billion of debt on Wednesday, shoring up capital for debt repayment 10 months after it said it had no plans to file for bankruptcy.

05 Oct 2016

Insurer Sompo to buy Endurance Specialty for $6.3 billion

 

TOKYO/WASHINGTON Japanese insurer Sompo Holdings Inc said on Wednesday it will buy U.S. property and casualty insurer Endurance Specialty Holdings Ltd for $6.3 billion, the latest in a string of acquisitions by insurers starved of growth in ageing Japan.

05 Oct 2016

Wall Street gains; oil's rise fuels energy shares

 

NEW YORK Major U.S. stock indexes gained on Wednesday, boosted by financial shares amid encouraging economic data and by the energy sector as oil prices surged to June highs.

[interestrateripoff]

Oil up 2 percent to June highs after another U.S. crude draw

 

NEW YORK Oil prices settled up about 2 percent on Wednesday, hitting their highest since June, after the fifth unexpected weekly drawdown in U.S. crude inventories added to support on hopes that major producers will agree to cut output next month.

05 Oct 2016

Credit Suisse admits wrongdoing in asset measure, to pay $90 million

 

WASHINGTON Credit Suisse AG will pay a $90 million (70.5 million pounds) penalty and admit wrongdoing after an investigation by U.S. regulators found the bank misrepresented how it determined a performance metric in its wealth management business to investors.

05 Oct 2016

U.S., other countries issue declaration on export, use of armed drones

 

WASHINGTON The United States and more than 40 other countries issued a declaration on Wednesday laying out principles they said should govern the export and use of armed drones to ensure they do not cause instability or help terrorism and organised crime.

05 Oct 2016

Sale of Italy's supermarket chain Esselunga scrapped for now

 

MILAN The family holding company controlling Italy's fourth-biggest supermarket chain Esselunga said on Wednesday it would not go ahead for now with a sale of the group after the death of its owner last week.

05 Oct 2016

Yahoo email scanning prompts European ire

 

Yahoo's decision to scan clients' email accounts at the behest of the U.S. authorities has prompted questions in Europe as to whether EU citizens' data had been compromised, and could help derail a new trans-Atlantic data sharing deal.

05 Oct 2016

Sterling falls below $1.27 for first time since 1985

 

LONDON Britain's pound dipped below $1.27 for the first time since June 1985 on Wednesday, with fears of a 'hard' Brexit from the European Union also pushing the currency to a five-year trough against a broadly stronger euro.

05 Oct 2016

Berlin pursues discreet talks with U.S. officials on Deutsche Bank

 

BERLIN The German government is pursuing discreet talks with U.S. authorities to help Deutsche Bank secure a swift settlement over the sale of toxic mortgage bonds, according to sources in Berlin.

05 Oct 2016

IMF officials downplay risk of imminent Deutsche Bank crisis

 

WASHINGTON International Monetary Fund officials sought to play down the risk of an imminent crisis over Deutsche Bank on Wednesday and expressed confidence that German and European authorities were working to ensure stability.

05 Oct 2016

Ford chairman met with Trump over 'infuriating' Mexico comments

 

WASHINGTON Ford Motor Co Executive Chairman Bill Ford Jr. said on Wednesday he has met with Donald Trump to talk about the Republican presidential candidate's extensive criticism of the automaker's investments in Mexico.

05 Oct 2016

Analysts cut Wells Fargo profit estimates ahead of results

 

Goldman Sachs Group Inc on Wednesday became the ninth investment bank in the past month whose analysts have cut forecasts for Wells Fargo & Co , citing regulatory and legal issues in the wake of its scandal over fake accounts.

[interestrateripoff]

Teva to sell Allergan's generics business in UK, Ireland for $769 million

 

Teva Pharmaceutical Industries Ltd said on Wednesday it would sell Allergan Plc's generics business in the UK and Ireland to India's Intas Pharmaceuticals Ltd for 603 million pounds ($769.37 million).

05 Oct 2016

Germany plans to cut taxes by 6.3 billion euros a year - sources

 

BERLIN Annual German tax breaks of 6.3 billion euros (5.5 billion pounds) could take effect as early as January 2017 after the conservative Christian Democrats reached agreement with the centre-left Social Democrats, junior partners in the ruling coalition, government sources said on Wednesday.

05 Oct 2016

Milan court orders trial over Monte dei Paschi trades - legal sources

 

(This version of the October 1st story corrects to clarify in first 2 paragraphs that Monte dei Paschi reached a plea bargain and was not sent to trial)

05 Oct 2016

SVG Capital says Goldman, CPPIB propose to buy its portfolio

 

Private equity firm SVG Capital Plc said on Wednesday it received a proposal from a consortium that included Goldman Sachs Group Inc and the Canadian Pension Plan Investment Board (CPPIB) to acquire its investment portfolio.

05 Oct 2016

Tesco aims higher after cementing recovery

 

LONDON Tesco , Britain's biggest retailer, reported strong first half results and showed confidence it could build on its recovery by setting tougher profitability targets, sending its shares as much as 14 percent higher.

05 Oct 2016

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.

05 Oct 2016

Even with rising wages, robot revolution skips restaurants

 

LOS ANGELES/SAN FRANCISCO Clamshell grills are making burger flipping obsolete at McDonald’s, Johnny Rockets and other burger chains. Digital kiosks, tabletop tablets and mobile phones are taking orders at eateries like Panera, Chili’s Grill & Bar and Domino’s. And at Silicon Valley start-up Zume, robots are being programmed to take over pizza assembly.

05 Oct 2016

EU plans insolvency early warning alerts to cut banks' bad loans

 

BRUSSELS An external early warning system for companies at risk of insolvency is central to a European Commission's draft proposal to cut the region's bankruptcy problem and help banks recoup bad loans.

05 Oct 2016

U.S. services sector activity surges to 11-month high

 

WASHINGTON U.S. services sector activity rebounded to an 11-month high in September, an encouraging sign for economic growth that may increase the prospect of a Federal Reserve interest rate hike this year.

05 Oct 2016

FTSE retreats from near-record high, Tesco jumps

 

LONDON Britain's top share index retreated on Wednesday after reaching to a near-record high in the previous day, with miner Polymetal slumping following concerns about its dividend payout and United Utilities hit by a broker downgrade.

Apple, Google, Coca-Cola top list of 100 most valuable brands - report

 

NEW YORK Apple Inc , Alphabet Inc's Google and Coca-Cola Co topped the list of the world's 100 most valuable brands in 2016, while technology and automotive brands dominated the overall rankings, according to a new report from brand consultancy Interbrand.

05 Oct 2016

Diageo scraps plan to raise Guinness Nigeria stake in tough market

 

ABUJA/LONDON Diageo has scrapped plans to lift its stake in Guinness Nigeria due to tough conditions in one of its biggest markets for the world-famous stout, the drinks company said on Wednesday.

05 Oct 2016

UBS is dismissed in U.S. silver lawsuit, other claims narrowed

 

NEW YORK A U.S. judge has dismissed UBS Group AG as a defendant in a lawsuit accusing big banks of conspiring to fix silver prices and exploit price distortions at investors' expense.

05 Oct 2016

Italy should do more to tackle banks' bad loans - IMF

 

MILAN The Italian government has recently taken a number of measures to tackle bad loans but these efforts may not be sufficient to strengthen its ailing banking system, the International Monetary Fund said on Wednesday.

05 Oct 2016

ECB sees no risk of banking crisis in euro zone: Angeloni

 

MILAN The European Central Bank sees no risk of a banking crisis in the euro zone despite some "individual cases" of lenders in trouble, senior ECB supervisor Ignazio Angeloni said on Wednesday.

05 Oct 2016

Fewer British firms have cyber insurance policies - PwC

 

The number of British firms insured against cyber threats has fallen sharply in the past year even though many doubled their security budgets after some high-profile companies suffered attacks, a survey by PwC showed on Wednesday.

05 Oct 2016

'Hard Brexit' could cost British finance firms 38 billion pounds

 

LONDON Britain's financial industry could lose up to 38 billion pounds in revenue in a so-called 'hard Brexit' that would leave it with restricted access to the European Union's single market, according to a report commissioned by an industry group.

05 Oct 2016

Lloyd's of London chairman urges UK government to secure single market access

 

LONDON Insurance market Lloyd's of London chairman John Nelson said on Wednesday he hoped the UK government could keep access to the European single market.

05 Oct 2016

Old tools, new reality a struggle for central banks

 

FRANKFURT/TOKYO Stefan Moeller's firm in Frankfurt, which makes baseball caps to the customer's own design, is an unlikely embodiment of a shift in spending trends that could tear up the monetary policy rule book for advanced economies.

05 Oct 2016

Swiss prosecutors probe suspected $800 million misappropriation from Malaysia's 1MDB

 

ZURICH/SINGAPORE Swiss prosecutors are investigating whether the country's banks were used to misappropriate $800 million (628.8 million pounds) belonging to a former subsidiary of Malaysian state investment fund 1MDB.

[interestrateripoff]

Asset managers in UK face duty to disclose costs

 

LONDON Asset managers in Britain will have a duty to disclose all transaction costs to workplace pension schemes that invest in their funds under the latest proposals by the financial regulator to improve transparency in a market with opaque fees.

05 Oct 2016

Merkel says no exceptions for Britain in market access talks

 

BERLIN German Chancellor Angela Merkel said on Wednesday that the European Union could not grant Britain full access to the EU's internal market if London did not accept the bloc's basic principle of free movement.

05 Oct 2016

UK broadband firm TalkTalk fined 400,000 pounds after 2015 cyber hack

 

LONDON Britain's data protection regulator said on Wednesday it fined British broadband provider TalkTalk 400,000 pounds for security failings that allowed hackers to launch a cyber-attack last year.

05 Oct 2016

AstraZeneca licenses respiratory drug to Insmed

 

Drugmaker Insmed Inc said on Wednesday it had bought the rights to an experimental early-stage respiratory drug from Britain's AstraZeneca Plc in a deal worth $150 million (118 million pounds).

05 Oct 2016

May says low rates and QE have bad side-effects, need change

 

BIRMINGHAM, England Prime Minister Theresa May said on Wednesday that there had been bad side-effects from the Bank of England's emergency measures to protect the economy since the financial crisis and the time had come for a new approach to spurring growth.

05 Oct 2016

PM May - unfair that most energy consumers stuck on costliest tariffs

 

BIRMINGHAM, England Prime Minister Theresa May said on Wednesday it was unfair that most British energy consumers were stuck on the most expensive tariffs.

05 Oct 2016

First Utility postpones IPO following Brexit vote

 

LONDON British energy supplier First Utility has postponed plans to list shares due to uncertainty created by Brexit and because proposals to improve competition in the energy market have not yet borne fruit, its chief financial officer said.

05 Oct 2016

Tepco calls for government help to curb impact of rising Fukushima costs

 

TOKYO The operator of the nuclear power plant destroyed in the Fukushima disaster five years ago has asked Japan's government for help in avoiding the risk of the utility going bankrupt should there be a sharp rise in the full estimated clean-up costs.

05 Oct 2016

Euro zone banks tap ECB for dollars amid Deutsche Bank jitters

 

FRANKFURT Euro zone banks borrowed $2.8 billion from the European Central Bank's emergency line on Wednesday, one of the biggest weekly take-ups since the financial crisis, as Deutsche Bank's woes and tighter U.S. rules made market funding more difficult.

05 Oct 2016

French fashion flags its economic importance

 

PARIS France's fashion and fashion-related businesses such as jewels, eyewear, watches and high-end cosmetics generate more sales than its aerospace and automobile industries, according to a study commissioned by the French Fashion Institute, IFM.

Latest UK data not "objectively strong", says BoE's Broadbent

 

LONDON Britain's latest economic data is not "objectively strong", even if growth has slowed less than forecast, Bank of England deputy governor Ben Broadbent said in an interview on Wednesday.

05 Oct 2016

Greek air traffic controllers call 24-hour strikes against EU/IMF reforms

 

ATHENS Greek air traffic controllers plan to walk off the job over four days from Oct. 9, grounding flights in protest at changes to their job descriptions under reforms pursued by the country's foreign creditors.

05 Oct 2016

Germany sees debate at IMF meeting on rising opposition to free trade

 

BERLIN Germany expects an intense debate at the IMF meeting in Washington this week on how to address the growing risks of populism and opposition to free trade in countries around the globe, a senior German government official said on Wednesday.

05 Oct 2016

Japan ex-Economy Minister Takenaka says BOJ to cut negative rates further

 

TOKYO Former Japanese Economy Minister Heizo Takenaka said on Wednesday the Bank of Japan will lower its minus 0.1 percent interest rate further to achieve its 2 percent inflation target.

05 Oct 2016

Euro zone business growth at 21-month low in September

 

LONDON Euro zone business growth fell last month to its weakest since the beginning of 2015, according to surveys providing the latest evidence the bloc's economy is losing momentum.

05 Oct 2016

FCA gets final report into RBS small business restructuring division

 

LONDON Britain's finance watchdog has received a long-delayed final report looking into alleged malpractice at Royal Bank of Scotland's small business restructuring division, the regulator said on Wednesday.

05 Oct 2016

Sharp sterling decline could affect rates - BoE's Broadbent

 

LONDON The Bank of England could raise interest rates is sterling fell sharply enough, but so far its moves have orderly, Bank of England deputy governor Ben Broadbent said on Wednesday.

05 Oct 2016

UK's FCA fines Aviva for client money, asset outsourcing breaches

 

Britain's financial watchdog said it had fined British insurer Aviva Plc 8.2 million pounds for breaching rules relating to outsourcing client money and assets at its UK life adviser platform.

05 Oct 2016

UK should "flush out" firms not doing enough to hire Britons - minister

 

LONDON The government wants to "flush out" businesses that are not doing enough to try and hire British workers before recruiting foreign staff, Home Secretary Amber Rudd said on Wednesday.

05 Oct 2016

UK car sales rise 1.6 percent in September to hit new record

 

LONDON New car registrations in Britain rose 1.6 percent year-on-year in September to hit a new record, an industry body said on Wednesday, with strong demand from business buyers compensating for a fall in sales to individual customers for the sixth month in a row.

[interestrateripoff]

"The Production Cuts Were Going To Happen Anyway" - An Inside Look At The OPEC "Deal", And How It Happened

 

Dutch Central Bank To Move Its Gold From Amsterdam To A Former Military Air Base

 

The Great Debt Unwind: Business Bankruptcies Soar 38%

 

German CEOs Said To Offer "Single-Digit Billions" Capital Injection To Deutsche Bank

 

The Global Economic "Nuclear Options" - Oil Pinned Below $30/barrel, US Dollar Rising

 

Trader: "If You Take Away QE's Greater Fools, You'll Get A Market Resembling The Pit Scene From Trading Places"

 

Something Strange Is Going On In Switzerland: "Is Someone Trying To Buy The Swiss National Bank"

 

The New 'Too Big To Fail' - EU Proposes Taxpayer-Funded Derivatives System Bailout

 

The Noose Is Tightening Quickly On The Global Economy

[interestrateripoff]

• 
   
  Theories emerge for pound's 'flash crash' against dollar
   
   
  Published: 7:33 PM
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• 
   
  Betting firms and TV channels oppose likely plan to ban daytime adverts
   
   
  Published: 6:03 PM
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• 
   
  EU imposes import duties of up to 73.7% on cheap Chinese steel
   
   
  Published: 6:00 PM
  EU imposes import duties of up to 73.7% on cheap Chinese steel
   
  

 

 

• 
  
  • The real problem with Donald Trump's tax avoidance? It's perfectly legal
     
    Ben Cohen and Jerry Greenfield, founders of Ben and Jerry's
     
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  [*]

 

 

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• Zac Goldsmith vows to quit as MP if Heathrow third runway is allowed
   
   
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[interestrateripoff]

A Guide to Getting Rid of Your Big-Bank Checking Account

 

By RON LIEBER 12:08 PM ET

 

If the recent Wells Fargo scandal has left you disenchanted with giant banks and ready to switch to a smaller one or a credit union, here’s what you should know.

Robert Neubecker

 

 

 

 

The Upshot

 

How Trump and Clinton Can Interpret This Jobs Report

 

By NEIL IRWIN 9:25 AM ET

 

The numbers are such that Hillary Clinton can argue that the economy continues to improve, and Donald Trump can argue that things haven’t improved enough.

 

• 63 Comments
  

 

 

 

U.S. Economy, Showing Resilience, Added 156,000 Jobs Last Month

 

By NELSON D. SCHWARTZ 10:20 AM ET

 

A bright spot in a fairly steady report was the participation rate, which rose as almost 500,000 people entered the labor force.

 

 

 

 

 

 

 

 

• Wall St. Is Down After Jobs Report 11:54 AM ET
  

 

Pound Drops Sharply in Asian Trading Amid ‘Brexit’ Fears

 

By CHAD BRAY and NEIL GOUGH 9:20 AM ET

 

Though the currency quickly gained back much of its ground, the mysterious plunge came at a time of broad nervousness over Britain’s economic prospects.

 

Europe May Finally End Its Painful Embrace of Austerity

 

By PETER S. GOODMAN

 

After years of failing to generate economic growth by cutting government spending, Europe is reassessing austerity.

 

5 Years Later, Jon Corzine May Avoid Trial With $5 Million Settlement

 

By BEN PROTESS

 

The tentative deal would settle a suit by the Commodity Futures Trading Commission over the collapse of the brokerage firm MF Global.

 

Mars Cashes Out Warren Buffett to Take Control of Wrigley

 

By MICHAEL J. de la MERCED

 

The candy company will buy out the minority stake held by Warren Buffett for an undisclosed sum and combine Wrigley with its chocolate business.

 

At Booz Allen, a Vast U.S. Spy Operation, Run for Private Profit

 

By MATTHEW ROSENBERG

 

Booz Allen Hamilton, the firm that employed the contractor accused of stealing secrets from the National Security Agency, earns billions of dollars each year in intelligence work.

 

Megyn Kelly and Sean Hannity Indulge in Testy Public Clash

 

By MICHAEL M. GRYNBAUM

 

The two Fox News anchors criticized each other’s treatment of the presidential candidates, with Mr. Hannity accusing Ms. Kelly of supporting Hillary Clinton.

 

 

 

• Thomson Reuters to Add Up to 1,500 Jobs in Toronto 36 minutes ago
  
• Britain to Resume Sale of Lloyds Banking Group Stake 1:44 PM ET
  
• After Congressional Grilling, Wells Fargo Is Berated in Newspaper Ads
  
• Over 190 Countries Adopt Plan to Offset Air Travel Emissions
  
• Twitter’s Fate: Marc Benioff of Salesforce Addresses Acquisition Talk
  

[interestrateripoff]

Philip Hammond scraps plan to sell off Lloyds bank shares to public

 

The Chancellor will sell the Government's remaining 9 per cent stake in the bailed-out bank directly into the market

 

 

 

 

 

Five charts that show how the pound has been ravaged by Brexit

 

 

 

 

• Brexit will cause the' pound to fall to €1 and $1.10 by end of 2017'
   
  
  
• Mystery 6% pound plunge to be investigated by Bank of England
   
  
  
• Pound value crash: Why did sterling plunge by 6% in 2 minutes?
   
  
  

 

 

 

 

 

 

Pound crash slashes Sports Direct profits by £15m

 

Company took out hedge to protect itself but it had the opposite effect, and profits may be cut by further £20m if sterling remains weak in 2017.

 

 

 

 

 

 

US adds 156,000 jobs as economy shows signs of resilience

 

 

 

 

 

 

UK trade deficit doubles after Brexit as pound continues to slide

 

 

 

 

 

 

UK businesses more confident now than before Brexit vote

 

Analysts have cautioned that the reality of Brexit has not yet hit as the UK still benefits from free trade with Europe’s 500 million people.

 

 

 

 

 

 

 

 

Mystery over 'flash crash' as pound plunges 6% in 2 minutes

 

Sterling plunged more than 6% to $1.1841 in two minutes

 

 

 

 

 

 

Snapchat preparing IPO that values company at $25bn

 

If Snap Inc offers share sells in that timeframe, it would be the highest valued company to go public since 2014

 

 

 

 

 

 

 

 

Carney downplays rift with Theresa May on Bank's money printing

 

The Bank of England Governor suggested he was not alarmed by the Prime Minister’s words to the Tory Party conference and said he ‘absolutely [did] not’ see them as an attack on the Bank’s independence.

 

 

 

 

 

 

Government will not pursue 'hard Brexit' says Hammond

 

Hammond dismisses claims the Tories have adopted anti-business stance and says London can maintain £440bn euro clearing industry.

 

 

 

 

 

Brexit could cost Scotland 80,000 jobs and £2,000 per person

 

 

 

 

 

One of world's first kite-driven power stations to open in Scotland

 

 

 

 

 

 

Deutsche Bank, Airbnb, and McKinsey use this personality test

 

Companies as varied as Deutsche Bank, Airbnb, and Reebok are turning to Seattle startup Koru to help them recruit graduates.

 

 

 

 

 

 

 

 

Deutsche Bank cuts another 1,000 German jobs as part of global cuts

 

Embattled German lender Deutsche Bank has announced plans to cut 1,000 jobs in Germany, as part of a restructuring plan. This brings the total of jobs being cut in the country to around 4,000.

 

 

 

 

 

 

BAE in arms deal with Saudi Arabia despite war crimes allegations

 

British-based weapons maker hopes to seal multi-billion pound fighter jet deal – MPs say there is ‘great weight of evidence’ that UK-made weapons have been used to violate humanitarian law

 

 

 

 

 

 

 

Pound hits another 31-year low as Philip Hammond heads to Wall Street

 

Chancellor Philip Hammond heads to Wall Street on Thursday in an attempt to reassure top US banks that Britain is still open for business despite the Brexit vote.

 

 

 

 

 

Sunderland 'worried' about Nissan's threat to put investment on hold

 

 

 

 

 

BoE Brexit warning, Swiss bank '[problem]', Monsanto: News in brief, 6 Oct

 

 

 

 

 

 

California overtakes UK to become 'world's fifth largest economy'

 

California has a gross domestic product of $2.46 trillion

 

 

 

 

 

 

 

Twitter shares plummet - Apple, Google and Disney 'unlikely' to bid

 

All three companies had been rumoured to be considering buying Twitter - now Salesforce may be the only major suitor left.

 

 

 

 

 

UK productivity crawls back to 2007 peak

 

 

 

 

 

London can still be world financial hub despite Brexit, claims Hammond

 

 

 

 

 

 

Pound sterling slide hits EasyJet profits

 

Easyjet pays for fuel in dollars, which makes it more expensive when the pound is weaker

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UK defence firms reap $60bn from Pentagon contracts under Obama

 

Lucrative contracts include $1.8bn for a bomb disposal robot to $12.4m to a fruit and veg wholesaler who supplied US Air Force bases in the UK

 

 

 

 

 

IMF warns of risks to global economy as debt hits record $152trn

 

 

 

 

 

Is Theresa May right about the damaging effect of monetary policy?

 

 

 

 

 

 

Deutsche Bank: is it too big to fail?

 

Markets assume Angela Merkel will protect the giant bank’s private investors because of the risk of contagion – are they right?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

What do immigrants do for the UK economy?

 

Just how many migrant workers are there in the UK? What do they contribute economically? And what is the impact on the rest of the workforce and the wider economy?

 

 

 

 

• 
  Casino capitalism, inflation, French tourism: Business news in brief
   
  
  
• 
  TalkTalk given record £400,000 fine over data breach
   
  
  
• 
  The pound keeps hitting new lows: What happens next?
   
  
  
• 
  Aviva fined £8.2m for failing to keep customers' money safe
   
  
  
• 
  The top 100 brands in the world have been revealed
   
  
  

 

 

 

 

Brexit could cost £40bn per year and 70,000 jobs, report warns

 

The UK will also lose £10bn per year in tax revenues, according to the analysis.

 

 

 

 

 

 

 

September services growth casts doubt on new Bank of England rate cut

 

The Markit/CIPS Purchasing Managers’ Index came in at 52.6 in the month, with any reading above 50 signalling expansion

 

 

 

 

 

 

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

 

Fears over the UK’s looming exit from the European Union hit the pound again on Wednesday

[interestrateripoff]

Hammond urges calm after pound plunge

 

 

 

 

Chancellor Philip Hammond warns of market turbulence but insists the UK economy is strong after the pound's sudden though brief 6% fall on Friday.

 

• 7 October 2016
  
• From the section Business
  

 

 

Related content

 

 

• Chancellor: 'We are going through volatility'
  
• Live Sterling slides
  
• Ahmed: Chancellor says no 'spending splurge'
  

 

 

 

 

Unfair Trade?

 

 

 

Could the UK take on EU trade deals?

 

 

 

 

 

Is world trade good for my home town?

 

 

 

 

 

Ex-steel town's struggle to survive

 

 

 

 

 

Has globalisation had its day?

 

 

 

 

 

 

Sports Direct hit by slide in pound

 

Sportswear retailer Sports Direct warns that the extreme swings in the pound overnight will hit its profits.

 

• 7 October 2016
  
• From the section Business
  

 

 

Related content

 

 

• Ashley tightens grip at Sports Direct
  
• Ashley repeats Sports Direct defence
  

 

 

 

 

 

Live Business Live: Lloyds shares reaction

 

Government ditches plans to offer Lloyds shares to the general public; Bank of England to investigate the cause of a pound 'flash crash'

 

• From the section Business
  

 

 

 

 

 

Government abandons Lloyds retail sale

 

• 7 October 2016
  
• From the section Business
  
• comments
  

 

 

US creates 156,000 jobs in September

 

• 7 October 2016
  
• From the section Business
  

 

 

Qatar places major order with Boeing

 

• 7 October 2016
  
• From the section Business
  

 

 

 

 

 

Age gap among first-time buyers sets in

 

• 7 October 2016
  
• From the section Business
  

 

 

Fashion sales wilt in September heatwave

 

• 7 October 2016
  
• From the section Business
  

 

 

World Bank admits some have lost out from free trade

 

• 6 October 2016
  
• From the section Business
  
• comments
  

 

 

UK industrial output weaker in August

 

• 7 October 2016
  
• From the section Business
  

 

 

Turkey firm suppliers will not be paid

 

• 7 October 2016
  
• From the section Norfolk
  

 

 

FTSE 100 higher as pound slides

 

• 7 October 2016
  
• From the section Business
  

 

 

 

 

Also in the News

 

 

 

Do foreign workers take jobs and cut wages?

 

• 6 October 2016
  
• From the section Business
  

 

 

 

 

Newsbeat Boy racks up 100,000 euro online ad bill

 

• 6 October 2016
  
• From the section Home
  

 

 

 

 

Features & Analysis

 

 

 

'Flash crash'

 

What exactly is happening to the pound?

 

• 7 October 2016
  
• From the section Business
  

 

 

 

 

 

Bright light

 

Is that lamp post watching you?

 

• 7 October 2016
  
• From the section Business
  

 

 

 

 

 

Pound plunge

 

Predictions for where the currency will end the year

[interestrateripoff]

Flash crash: Pound plunges to $1.18 and FTSE 100 heads for record high as fears over hard Brexit intensify

 

 

• 
  
• 07 Oct 2016, 4:18pm Sports Direct slashes profit forecasts on sterling crash
   
   
   
  
• 07 Oct 2016, 4:01pm Philip Hammond ditches retail sale of taxpayer’s Lloyds Bank stake as £3.6bn share sell-off resumes
   
   
   
  
• 07 Oct 2016, 1:01pm House prices edge up as annual growth cools to lowest rate in three years
   
   
   
  
• 06 Oct 2016, 8:22pm Fracking go-ahead: Government approves Cuadrilla plans, overruling Lancashire council
   
   
   
  

 

• 07 Oct 2016, 10:06am What caused the sterling 'flash crash' overnight?
   
   
   
  
• 06 Oct 2016, 8:31pm Comment: A wave of tech consolidation will drive the next leg of the bull market
   
  Matthew Lynn
   
   
   
   
  
• 06 Oct 2016, 10:19pm Comment: Free to frack - now we're cooking with gas
   
  Juliet Samuel
   
   
   
   
  
• 06 Oct 2016, 8:30pm Damien Hirst's Newport Street Gallery wins 2016 RIBA Stirling Prize
   
   
   
  
• 07 Oct 2016, 12:01am Business confidence bounces back as firms voice optimism on Britain's future
   
   
   
  
• 16, 3:21pm These charts show just how unequal the UK's housing market is
   
   
   
  
• 07 Oct 2016, 6:00am The next hot London boroughs: where and when will average house prices hit £500,000?
   
   
   
  
• 07 Oct 2016, 10:20am Electra gets second windfall in a week with Vidal sale
   
   
   
  
• 07 Oct 2016, 2:47pm Fears mount that GKN jobs making Navy helicopters could go to Italy
   
   
   
  
• 07 Oct 2016, 1:05pm Global shipping crisis deepens as cargo line NYK takes multi-billion yen hit
   
   
   
  
• 07 Oct 2016, 3:29pm Looking for a job? Here's what not to put on your CV
   
   
   
  
• Manufacturers and exports fail to perform despite fall in sterling
   
   
   
  
• 07 Oct 2016, 11:24am Pound 'flash crash' sees sterling plunge 6pc within minutes - but was it due to a 'fat finger' error?
   
   
   
  
• 07 Oct 2016, 12:12am Stop spending aid on developed nations, Priti Patel will tell World Bank
   
   
   
  
• 07 Oct 2016, 12:01am Business confidence bounces back as firms voice optimism on Britain's future
   
   
   
  

[interestrateripoff]

'Flash crash' hits sterling; U.S. jobs data weaken dollar

 

NEW YORK Sterling tripped lower on Friday on what traders called a "flash crash" that knocked the currency to a 31-year low, while the dollar slipped on news of unexpectedly weak U.S. job growth in September.

5:17pm BST

Finance leaders issue fresh warnings amid Deutsche worries, pound rout

 

WASHINGTON World finance leaders issued fresh warnings about economic stability risks on Friday amid worries about a massive U.S. fine for Deutsche Bank destabilising Germany's largest bank, a sharp fall in the British pound and weak global growth.

7:24pm BST

Deutsche Bank gets top investor support, CEO in talks with banks

 

DOHA/FRANKFURT Deutsche Bank has secured backing from its largest investor and is seeking advice from other banks as it scrambles to restore market confidence undermined by a demand by U.S. authorities for up to $14 billion over mis-selling allegations.

7:44pm BST

Pound's "flash crash" strains bond, stock market nerves

 

LONDON Sterling lost as much as 10 percent of its value in just a few minutes of trading early on Friday, a "flash crash" that fuelled concerns about the vulnerability of the currency and other British assets to investor worries about Brexit.

5:26pm BST

U.S. job growth slows; markets bet on December rate hike

 

WASHINGTON U.S. employment growth eased for the third straight month in September and the jobless rate rose, but the slowdown was not expected to prevent the Federal Reserve from raising interest rates later this year.

6:10pm BST

France angry with Poland after it scraps Airbus deal

 

PARIS France reacted angrily on Friday after Poland scrapped a multi-billion dollar helicopter deal with Airbus, saying it would review defence cooperation with its NATO ally and cancelling a presidential visit to Warsaw.

8:05pm BST

Brexit makes euro zone sustainability less likely - JPMorgan CEO

 

WASHINGTON Britain's vote to leave the European Union has made it more likely that the euro zone will not be around in 10 years, JPMorgan Chase & Co CEO Jamie Dimon told bankers on Friday.

7:04pm BST

Britain's economy likely expanded 0.4 percent in third quarter - NIESR

 

LONDON, British economic growth probably slowed in the three months that followed June's Brexit vote, but not by quite as much as the Bank of England expects, a leading think tank said on Friday.

3:29pm BST

Exclusive - William Hill, GVC among bidders for Canada's Amaya Inc - sources

 

TORONTO Canadian online gambling company Amaya Inc has received strong interest from strategic players and some private equity firms, according to two sources familiar with the situation.

7:28pm BST

Former Italy minister readying plan for Monte dei Paschi - sources

 

LONDON A former Italian industry minister is preparing an alternative rescue plan for bank Monte dei Paschi di Siena amid signs that an existing 5-billion euro ($5.6 billion)recapitalisation arranged by JP Morgan is failing to draw investor support, three sources familiar to the matter said.