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The great interest rate rip off part 10


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Barrick Gold estimates gold output dropped 9.8 percent in 2016

 

Canadian miner Barrick Gold Corp on Wednesday estimated its gold production in 2016 fell 9.8 percent to 5.52 million ounces.

1:19pm GMT

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Deal on Greek bailout's second review possible at February Eurogroup - official

 

BRUSSELS Euro zone creditors could approve the completion of the second set of Greek bailout reforms at the next meeting of finance ministers in February, an euro zone official said on Wednesday.

1:00pm GMT

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Santander profit weathers currency storms, lifting shares

 

MADRID Strong underlying profit growth at Banco Santander in 2016 and a better-than-expected performance in the last quarter drove its shares higher on Wednesday as it weathered the impact of falls in the pound and the Mexican peso.

12:56pm GMT

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Santander not planning to relocate UK employees due to Brexit - chairman

 

MADRID Banco Santander does not plan to relocate any of its employees at its British business due to Britain's planned exit from the European Union and the single market, Chairman Ana Botin said on Wednesday.

12:56pm GMT

Hargreaves Lansdown appoints Philip Johnson as CFO

 

LONDON Hargreaves Lansdown said on Wednesday it had appointed Philip Johnson as chief financial officer, replacing Chris Hill, who steps up to become chief executive officer.

12:54pm GMT

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Novartis launches $5 billion share buyback, mulls Alcon spin-off

 

BASEL, Switzerland Swiss drugmaker Novartis said on Wednesday it will buy back up to $5 billion (3.98 billion pounds) worth of shares over the next 12 months and may spin off the Alcon eye care business as it navigates a tough year before an expected return to growth in 2018.

12:43pm GMT

Novartis says court battle will delay its Enbrel copy until 2018 at least

 

ZURICH The Novartis copy of Amgen's blockbuster psoriasis drug Enbrel will not go on sale before 2018 at the earliest because of the U.S. company's patent protection challenge, the Swiss drugmaker's head of generics told Reuters.

12:43pm GMT

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UK factory order books strongest since 2015, but costs growing - CBI

 

LONDON British manufacturers are enjoying their strongest orders in nearly two years but their costs are rising sharply following last year's Brexit vote which pushed down the value of sterling, a survey showed on Wednesday.

12:31pm GMT

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Trump policies could give impulse to global economy - German Deputy Finance Minister

 

BERLIN German Deputy Finance Minister Jens Spahn on Wednesday said it was too early to judge U.S. President Donald Trump, adding that his plans to increase state spending could give the global economy an extra push.

12:19pm GMT

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Finnair to trial China's Alipay for in-flight shopping

 

HELSINKI Finnair will become the first airline to allow travellers to pay for in-flight shopping and services with Chinese online payment app Alipay, the company said on Wednesday.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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German business morale weakens in January, views mixed on Trump impact

 

BERLIN German business morale unexpectedly dropped in January, a survey showed on Wednesday, suggesting a more downbeat assessment of the outlook for Europe's largest economy, although analysts were split over the impact of a more protectionist US trade stance.

10:54am GMT

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UK watchdog publishes value-for-money data to improve insurance market

 

Britain's financial watchdog published data on Wednesday in a bid to improve transparency in the general insurance market and help consumers assess whether products offer value for money.

10:51am GMT

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Global steel output rises 0.8 percent in 2016 vs 2015

 

LONDON Global crude steel output rose by 0.8 percent last year, industry data showed on Wednesday, as mills in top producer China churned out more metal to meet higher demand even as Beijing cracked down on excess capacity.

10:48am GMT

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Fund firms plan to get tough on excessive pay at Britain's top firms

 

LONDON Some of the biggest holders of UK stocks plan to get tougher on executive pay, as the government turns up the heat over the yawning income gap between bosses and employees following Britons' vote to leave the European Union.

10:32am GMT

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European shares climb higher as earnings brighten sentiment

 

LONDON European shares climbed higher on Wednesday, with strong updates from companies such as computer peripherals maker Logitech and Spain's Banco Santander boosting the broader equity market.

10:12am GMT

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WH Smith's profit forecast brightens after strong Christmas sales

 

British books, newspapers and stationery retailer WH Smith Plc firmed up its profit forecast on Wednesday after reporting strong sales from its stores at airports and train stations over the Christmas period.

10:09am GMT

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ECB policy working, but with a greater lag - ECB research

 

FRANKFURT European Central Bank researchers say monetary policy is working with a longer-than-usual lag in the current economic conditions, although the fundamental nature of inflation has not changed, ECB research released on Wednesday showed.

10:08am GMT

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BT's Italy scandal deepens and UK slows, wiping 8 billion pounds off shares

 

LONDON BT lost a fifth of its market value on Tuesday when an Italian accounting scandal compounded a sudden slowdown in its British government work, forcing the telecoms group to cut forecasts for the next two years.

9:44am GMT

Top BT investor Royal London says surprised by scale of Italy scandal

 

LONDON One of the biggest investors in BT said it was surprised after the firm issued a profit warning on Tuesday, and particularly by the scale of an accounting scandal in Italy.

9:44am GMT

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PIMCO sees slowing UK economy but worst over for sterling

 

LONDON After a court ruled on Tuesday that the legal process for Brexit cannot be triggered without parliament's approval, sterling portfolio manager Mike Amey of Pacific Investment Management Co (PIMCO) said the British economy was likely to slow in 2017.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Restaurant Group sales fall, UK cost warning hits shares

 

Restaurant Group's sales fell last year and the owner of the Frankie & Benny's chain warned on Wednesday that a hike in Britain's minimum wage will drive costs higher in 2017.

8:53am GMT

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Climate change efforts under siege after Trump election - E.ON CEO

 

BERLIN German utility E.ON, which owns billions of euros worth of wind parks in the United States, said global efforts to tackle climate change were suffering serious setbacks, singling out the election of Donald Trump as a key obstacle.

8:50am GMT

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Japan government: fiscal targets slip further as tax revenue falls

 

TOKYO Japan's government said on Wednesday that the primary deficit will worsen in coming years, even according to its most optimistic forecasts, because of falling tax revenue and weak consumer spending.

8:42am GMT

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Discounts drive Hyundai profit to five-year low, uncertain 2017 ahead

 

SEOUL Hyundai Motor fell far short of estimates with its lowest quarterly profit in about five years, hurt by the cost of steep discounts on small sedans, and cautioned it expected more uncertainty ahead as competition and protectionism increase.

8:39am GMT

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Rio Tinto sale to Yancoal resets mood for Australian coal mine deals

 

SYDNEY Chinese-owned Yancoal's $2.45 billion (1.9 billion pounds) purchase of the Coal & Allied division of Rio Tinto is setting the stage for more big-ticket coal mining acquisitions in Australia, where more than $10 billion in assets are waiting to be sold.

8:39am GMT

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EU calls for China to take 'concrete' steps in opening market

 

BEIJING The European Union urged China on Wednesday to make "concrete progress" in opening its markets to global investment, after Chinese President Xi Jinping decried protectionism in a speech at the recent World Economic Forum in Davos, Switzerland.

8:15am GMT

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Japan cool to inviting China into TPP as Abe repeats free trade mantra

 

TOKYO Japan is cool to the notion of inviting China to join a pan-Pacific trade pact abandoned by U.S. President Donald Trump, fearing such a step would boost Beijing's clout and water down what was meant to be the 'gold standard' for rules of trade.

8:14am GMT

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Greek PM says won't enact another euro of revenue-raising measures

 

ATHENS Greece will not pass any more revenue-raising measures beyond what is agreed in its bailout package, Prime Minister Alexis Tsipras was quoted as saying on Wednesday, as a stand-off with international lenders ground on.

8:12am GMT

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Novartis CEO: "The bigger the target, the higher the premium"

 

ZURICH Novartis Chief Executive Joe Jimenez said prices for large acquisitions are looking expensive, pushing the company to instead seek smaller targets with early-stage drugs that the Swiss pharmaceutical group hopes will supplement its pipeline.

8:11am GMT

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Intesa Sanpaolo may launch 12 billion euro cap hike in bid for Generali - report

 

MILAN Italy's Intesa Sanpaolo could launch a 12 billion euro (10.4 billion pounds) capital increase reserved to Assicurazioni Generali's shareholders as part of a potential takeover on the insurer, Il Messaggero reported.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

LG Elec books first quarterly loss in six years on worst mobile result

 

SEOUL South Korea's LG Electronics Inc on Wednesday reported its first quarterly operating loss in six years in October-December due to its worst mobile performance.

7:08am GMT

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Cisco to buy AppDynamics for $3.7 billion in growth push

 

SAN FRANCISCO Cisco Systems Inc said on Tuesday that it agreed to buy U.S. business software company AppDynamics Inc for about $3.7 billion (2.9 billion pounds), making one of its largest deals of recent years as it searches for growth beyond its core networking business.

6:49am GMT

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Japan exports up for first time in 15 months, U.S. protectionism poses risks

 

TOKYO Japan's exports rose for the first time in 15 months in December on strong sales of electronics and car parts, a positive sign for the export-reliant economy even as U.S. protectionism threatens to hurt trade across the region and dent external demand.

5:33am GMT

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Trade war between China and the U.S. is a lose-lose - state media

 

BEIJING A trade war between China and the United States would harm both countries, the overseas edition of the state run People's Daily said on Wednesday, reflecting concerns over the protectionist, and anti-China stance taken by new U.S. President Donald Trump.

3:44am GMT

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Tesco faces new legal action over accounting scandal

 

LONDON Britain's biggest retailer Tesco PLC is facing a new claim for damages from an investor about its 2014 profit overstatement, the company said on Tuesday.

1:16am GMT

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Toshiba shares slip ahead of chip business sale approval

 

TOKYO Shares of Toshiba Corp slipped in early trading on Wednesday as the company prepared to give the nod to spinning off its chip business.

12:33am GMT

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How Russia sold its oil jewel — without saying who bought it

 

MOSCOW/LONDON/MILAN More than a month after Russia announced one of its biggest privatisations since the 1990s, selling a 19.5 percent stake in its giant oil company Rosneft, it still isn't possible to determine from public records the full identities of those who bought it.

24 Jan 2017

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Trump urges U.S. automakers to make big push for new plants

 

U.S. President Donald Trump pushed the chief executives of General Motors Co , Ford Motor Co and Fiat Chrysler Automobiles NV on Tuesday to increase production in the United States and boost American employment.

24 Jan 2017

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Toyota Motor to add 400 jobs at Indiana assembly plant

 

TOKYO/WASHINGTON Toyota Motor Corp on Tuesday said it would add 400 jobs to build more SUVs at one of its U.S. plants, highlighting its expansion plans just as U.S. President Donald Trump calls on manufacturers to build more cars in the country.

24 Jan 2017

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PepsiCo using Super Bowl to launch new premium water brand

 

PepsiCo said on Tuesday it will use its pricey spot during next month’s Super Bowl to unveil a premium bottled water brand, Lifewtr, as the beverage industry faces declining consumption of sugary sodas.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

 

 

 

 

Unilever boss says Britons should 'get used to' price rises

 

Unilever unveiled lower than expected results sending shares more than 4% lower

 

 

 

 

 

Barclays to keep global HQ in London no matter outcome of Brexit

 

 

 

 

 

 

 

 

 

 

RBS sets aside extra £3.1bn for fines

 

The bank said it’s cooperating with the US Justice Department’s investigation into the misselling of mortgage-backed securities in the US subprime crisis

 

 

 

 

 

 

Don't cheer Imperial Brands' pay policy too loudly yet

 

 

 

 

 

 

Chicken prices soar due to Putin's invasion of Ukraine

 

 

 

 

 

 

Someone has cooked the world's most expensive takeaway

 

The world’s most expensive takeaway dish, The Billionaire goes on sale today for £950

 

 

 

 

 

 

 

 

Half of the UK’s free cash machines under threat in row over fees

 

Crunch meeting on Thursday did not reach a resolution but a working group has been set up to 'explore the sustainability' of the Link system

 

 

 

 

 

 

RBS fine kitty topped up with another £3bn. There may be more to come

 

The money set aside to cover a potentially huge fine from the US is starting to look as if it’s in the right ball park, but this probably won’t be the last time it’s added to

 

 

 

 

 

 

 

 

Mortgage approvals hit nine-month high in December

 

There were 43,228 approvals recorded in the month, up from 41,003 in November and the largest number since March 2016

 

 

 

 

 

 

Sky shows off dish free offer as clouds rumble

 

Rupert Murdoch's target has reported falling profits and a high level of customer churn

 

 

 

 

 

Pound sterling slips off six-week high

 

 

 

 

 

Dutch regulator reveals the companies George Soros is betting against

 

 

 

 

 

 

After Marmitegate shares in Unilever are falling again

 

Unilever was involved in a spat with Tesco after it announced that it would increase prices due to the slump in the value in the pound since Brexit

 

 

 

 

 

 

 

 

Trump's tipped ambassador to the EU says the euro could collapse

 

Ted Malloch, a businessman and strident Brexiteer, said that he would 'short the euro'

 

 

 

 

 

 

Credit Suisse considers Dublin expansion as Brexit looms

 

The Irish capital's financial services industry looks set to benefit from the UK's decision to leave the EU as banks look at moving jobs from London

 

 

 

 

 

 

 

Temping agency boss becomes Japan's first self-made female billionaire

 

There are only around 34 billionaires in Japan, and perhaps 26 self-made female billionaires across Asia

 

 

 

 

 

Self-employed ‘earn more, work fewer hours and are happier'

 

 

 

 

 

FCA stumbles trying to ensure your insurer doesn't rip you off

 

 

 

 

 

 

Sir Stephen Nickell reflects on austerity, productivity and Brexit

 

The Independent talks to the distinguished economist as he steps down from the Treasury's fiscal watchdog-cum-forecaster

 

 

 

 

 

 

 

Impact of immigration on native wages ‘infinitesimally small’

 

Exclusive: Sir Stephen Nickell speaks out on how his work has been misrepresented by leading Brexiteers who want to slash immigration

 

 

 

 

 

London to experience a ‘gold rush’ during Chinese New Year week

 

 

 

 

 

Dow Jones Industrial Average hits 20,000 points

 

 

 

 

 

 

WH Smith shows how to be a high street survivor

 

The ever adaptable retailer has wowed the City with forecast busting sales figures

 

 

 

 

 

 

 

 

Co-op cracks down on supply and sale of unethically source tuna

 

The Co-op has imposed a year-end deadline for all the tuna it sells to be sourced sustainably

 

 

 

 

 

This is what Donald Trump's presidency has done to the dollar

 

 

 

 

 

Newspapers cut Facebook and Snapchat content due to meagre returns

 

 

 

 

 

 

What is the best way to quit your job?

 

According to the job site, CV-Library, 84 per cent of UK workers are searching for a new job and more than a than a third dislike their current job

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Trump’s Chief Strategist Says News Media Should ‘Keep Its Mouth Shut’

 

By MICHAEL M. GRYNBAUM 13 minutes ago

 

 

Stephen K. Bannon, one of President Trump's top advisers, gave a scathing assessment of the news media, calling it “the opposition party.”

 

 

 

26Lie-sfSpan-v2.jpg

Doug Mills/The New York Times

 

 

News Analysis

 

In a Swirl of ‘Untruths’ and ‘Falsehoods,’ Calling a Lie a Lie

 

By DAN BARRY

 

President Trump’s repeated baseless assertion about widespread voter fraud has challenged the news media to find the precise words to describe it.

 

 

 

 

 

 

 

 

 

 

 

 

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In Race Against Fake News, Google and Facebook Stroll to the Starting Line

 

By DAISUKE WAKABAYASHI and MIKE ISAAC

 

Google and Facebook emphasized their efforts to combat the spread of false articles, but industry watchers say their measures have had little impact.

 

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That Old Phone Trump Uses for Twitter Could Be an Opening to Security Threats

 

By CECILIA KANG

 

The president has taken his Twitter habit to the White House, but it’s unclear what security measures are in place on the device.

 

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Foreclosure Prevention Returns to the Unknown

 

By STACY COWLEY

 

A recently expired government program was criticized for its poor execution, and what happens next will be an experiment in how lenders conduct themselves.

 

Theresa May Unveils Bill to Initiate ‘Brexit’ Process

 

By KATRIN BENNHOLD 18 minutes ago

 

At 132 words — one of the shorter bills in British history — the bill was seen as an effort to prevent amendments that could slow down its passage.

 

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For Justin Trudeau, Canada’s Leader, Revival of Keystone XL Upsets a Balancing Act

 

By IAN AUSTEN and CLIFFORD KRAUSS

 

President Trump’s move to proceed with the pipeline project leaves the Canadian prime minister facing anger from both energy advocates and environmentalists.

 

 

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Keystone XL Pipeline: A New Opening, but What Lies Ahead?

 

By CLIFFORD KRAUSS 11:50 AM ET

 

Even with President Trump’s blessing for the project, blocked by his predecessor, it still faces changing energy markets and environmental protests.

 

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Johnson & Johnson Bolsters Drug Roster With $30 Billion Actelion Deal

 

By CHAD BRAY

 

The acquisition of the Swiss biotechnology company would improve the American pharmaceutical giant’s portfolio of drugs to treat rare diseases.

 

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Goldman’s $285 Million Package for Gary Cohn Is Questioned

 

By KATE KELLY

 

Mr. Cohn’s exit pay as he left for President Trump’s National Economic Council drew criticism as a possible incentive to give Goldman Sachs special treatment.

 

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VW Executive, Hired to Help Overhaul Carmaker’s Culture, Is to Leave

 

By PRASHANT S. RAO 12:20 PM ET

 

The surprise departure of Christine Hohmann-Dennhardt raises questions about the company’s willingness to change after the diesel deception scandal.

 

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Sent Home for Not Wearing Heels, She Ignited a British Rebellion

 

By DAN BILEFSKY

 

A parliamentary inquiry prompted by a receptionist’s complaint has concluded that laws against discriminatory dress codes for women needed to be tougher.

 

 

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Facebook’s Virtual Reality Business Gets a New Leader

 

By MIKE ISAAC and NICK WINGFIELD

 

Hugo Barra, a former executive at Google and the Chinese phone maker Xiaomi, will lead the company’s virtual reality efforts, which have faced several hurdles.

 

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Eike Batista, Once Brazil’s Richest Man, Is Sought in Corruption Inquiry

 

By DOM PHILLIPS and SIMON ROMERO 1:11 PM ET

 

The police are seeking the arrest of Mr. Batista, an oil and mining magnate, in connection with bribes paid to the former governor of Rio de Janeiro.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

UK economy grows faster than expected

 

 

 

 

Strong consumer spending helped the economy to grow more quickly at the end of last year.

 

  • 26 January 2017
  • From the section Business
  • comments

 

 

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Ford workers' $9,000 profit-share bonus

 

US car giant Ford makes its second-best profit to date, giving US workers a chunky salary boost.

 

  • 26 January 2017
  • From the section Business

 

 

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Live Business Live: Wall Street treading water

 

US shares treading water; Sterling edges lower after GDP figures show flat industrial output growth and weak construction growth.

 

 

 

 

 

 

Free ATM network under scrutiny

 

  • 26 January 2017
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Brazilian tycoon sought by police

 

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Employment rights considered for mums-to-be

 

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Sky profits dip on higher football costs

 

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Unions back deal on steel pensions

 

  • 26 January 2017
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RBS puts aside further £3.1bn for US fine

 

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Niger Delta villagers 'can't sue Shell'

 

  • 26 January 2017
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UK car production at 17-year high

 

  • 26 January 2017
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Apple sues chip-maker Qualcomm in China

 

 

 

 

 

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Our Experts

 

The economy - pain cancelled or delayed?

 

Preliminary figures show the economy performed more strongly than expected in 2016, but the chancellor told me there are still uncertainties ahead.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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UK, U.S. should look at removing trade barriers before Brexit - PM May

 

PHILADELPHIA Prime Minister Theresa May said on Thursday Britain and the United States could look at areas where both could remove some trade barriers to their mutual advantage while she negotiates the country's exit from the EU.

6:20pm GMT

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Consumers drive UK economy, defying expected Brexit vote hit

 

LONDON Britain's free-spending consumers again confounded warnings that June's Brexit vote would cause an immediate slowdown in the country's economy, driving robust growth in the final three months of 2016, data showed on Thursday.

7:08pm GMT

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Barclays to make Dublin its EU headquarters after Brexit - source

 

LONDON Barclays is preparing to make Dublin its EU headquarters for when Britain leaves the European Union, according to a source familiar with the matter on Thursday.

6:40pm GMT

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VW set to plead guilty in U.S. diesel emissions case

 

WASHINGTON Volkswagen AG is set to plead guilty on Feb. 24 in Detroit to three felony counts as part of a plea agreement with the U.S. Justice Department to resolve an excess diesel emissions investigation, a court filing shows.

4:32pm GMT

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WTO says $1 trillion global trade treaty about to come into force

 

GENEVA A trade accord that will boost global exports by $1 trillion (0.79 trillion pounds) should come into force within two weeks, the head of the World Trade Organization said on Thursday, just as the rhetoric of U.S. President Donald Trump clouds the outlook for global trade.

7:15pm GMT

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Tata Steel's UK pensions trustee warns deficit to surge

 

LONDON Tata Steel UK's pension scheme deficit is set to balloon to 1-2 billion pounds and Britain's largest steelmaker believes it could face insolvency unless a way can be found to tackle it, the scheme's trustee has told members.

7:12pm GMT

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ECB should keep monetary policy loose for extended time

 

BRUSSELS European Central Bank President should continue to keep its monetary policy loose, focusing on inflation in the euro zone as a whole, until there is a sustained rise in price growth, the International Monetary Fund said in an assessment.

7:36pm GMT

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ECB's Villeroy pushes back against calls for QE exit

 

MUNICH, Germany Fears of a resurgence of euro zone inflation are exaggerated, so winding down from stimulus has not been discussed, a top European Central Bank policymaker said on Thursday, even as the bank's top hawks suggested that the exit may be close.

7:21pm GMT

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Oil up 2 percent on stock market, but U.S. supply caps gains

 

NEW YORK Oil prices jumped 2 percent on Thursday, boosted by the ongoing rally in the U.S. stock market, although gains in crude futures were capped by plentiful supplies and bulging inventories in spite of efforts by producers to cut output.

7:10pm GMT

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Geely's Lynk plans 2019 U.S., Europe car launch, eyes Trump tax

 

NEW ORLEANS Chinese automaker Geely Automobile Holdings Ltd , the owner of Volvo cars, plans to roll out its mid-priced Lynk & Co brand in the United States and Europe in early 2019, but cautioned those plans could change if U.S. President Donald Trump imposes a border tax on imported vehicles, a senior company executive told Reuters.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Looser euro zone fiscal stance not in line with rules, sustainability - IMF

 

BRUSSELS The International Monetary Fund clashed on Thursday with the European Commission, saying it advocated a neutral fiscal stance for the euro zone as a whole rather than an expansionary one as suggested by the EU executive arm.

7:35pm GMT

Euro zone heading for trouble without more convergence - IMF

 

BRUSSELS The economies of the 19 countries sharing the euro currency should converge more or they will suffer from repeated crises, the International Monetary Fund said in a regular assessment of the single currency area.

7:35pm GMT

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Court rules Shell can't be sued in London for Nigeria oil spills

 

LONDON Royal Dutch Shell cannot be sued in London over oil spills in Nigeria, the High Court ruled on Thursday, in a setback to attempts to hold British multinationals liable at home for their subsidiaries' actions abroad.

7:29pm GMT

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Nigeria court orders temporary forfeiture of Shell, Eni oilfield in corruption probe

 

ABUJA A Nigerian court has ordered the temporary forfeiture of assets and the transfer of operations of a long-disputed oilfield owned by Shell and Eni , among others, to the federal government, court papers showed.

7:29pm GMT

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ECB's Villeroy pushes back against calls for QE exit

 

MUNICH, Germany Fears of a resurgence of euro zone inflation are exaggerated, so winding down from stimulus has not been discussed, a top European Central Bank policymaker said on Thursday, even as the bank's top hawks suggested that the exit may be close.

7:21pm GMT

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ECB could withdraw stimulus if inflation rise sustained - Germany's Weidmann

 

FRANKFURT The euro zone economy started the year on a solid footing and the European Central Bank should start plotting an exit from stimulus if the recent inflation rise proves lasting, ECB policymaker Jens Weidmann said on Thursday.

7:19pm GMT

German military to skip tender for 1.5 billion euro warship purchase

 

BERLIN The German Defence Ministry on Thursday said it would skip an open tender for the planned purchase of five more corvettes valued at 1.5 billion euros (1.27 billion pounds) and instead ask the three-company consortium that built the existing warships to submit a bid.

7:16pm GMT

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WTO says $1 trillion global trade treaty about to come into force

 

GENEVA A trade accord that will boost global exports by $1 trillion (0.79 trillion pounds) should come into force within two weeks, the head of the World Trade Organization said on Thursday, just as the rhetoric of U.S. President Donald Trump clouds the outlook for global trade.

7:15pm GMT

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Tata Steel's UK pensions trustee warns deficit to surge

 

LONDON Tata Steel UK's pension scheme deficit is set to balloon to 1-2 billion pounds and Britain's largest steelmaker believes it could face insolvency unless a way can be found to tackle it, the scheme's trustee has told members.

7:12pm GMT

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Oil up 2 percent on stock market, but U.S. supply caps gains

 

NEW YORK Oil prices jumped 2 percent on Thursday, boosted by the ongoing rally in the U.S. stock market, although gains in crude futures were capped by plentiful supplies and bulging inventories in spite of efforts by producers to cut output.

Fiat Chrysler says to halve debt as recovery builds

 

MILAN Fiat Chrysler Automobiles (FCA) pledged on Thursday to nearly halve net debt this year, much more than expected as rising sales and profits put it on course to deliver much of an ambitious turnaround plan by the end of 2018.

7:06pm GMT

Telia bid for TDC? Please hold..

 

STOCKHOLM Speculation that Telia is lining up a bid for Danish rival TDC is wide of the mark, as the Swedish telecoms firm believes a deal would face of a host of legal, financial and political obstacles, sources familiar with the matter said.

6:56pm GMT

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Italy cannot intervene in Generali-Intesa saga - ministry source

 

BRUSSELS Italy's Economy Ministry cannot take a stance on the talks between Intesa SanPaolo and Assicurazioni Generali about a possible tie-up because the state owns no shares in either company, a ministry source said on Thursday.

6:47pm GMT

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Barclays to make Dublin its EU headquarters after Brexit - source

 

LONDON Barclays is preparing to make Dublin its EU headquarters for when Britain leaves the European Union, according to a source familiar with the matter on Thursday.

6:40pm GMT

Factbox - Impact on banks from Britain's vote to leave the EU

 

Global banks have warned they could move thousands of jobs out of Britain to prepare for the expected disruption caused by the country's exit from the European Union, posing a risk to London's status as a major financial centre.

6:40pm GMT

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UBS's Blessing says challenge in 2017 is to earn 'decent money"'

 

ZURICH UBS Swiss head Martin Blessing said on Thursday the bank's biggest challenge this year will be keeping up decent returns.

6:35pm GMT

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Deutsche Bank CEO tells EU financial hubs to seize Brexit chance

 

BERLIN The European Union's financial hubs must seize the opportunity of Britain's exit from the bloc, or risk losing out to New York, Singapore or Shanghai, Deutsche Bank CEO John Cryan said on Thursday.

6:28pm GMT

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UK, U.S. should look at removing trade barriers before Brexit - PM May

 

PHILADELPHIA Prime Minister Theresa May said on Thursday Britain and the United States could look at areas where both could remove some trade barriers to their mutual advantage while she negotiates the country's exit from the EU.

6:20pm GMT

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Toshiba reckoning looms with chip decision, nuclear hole unresolved

 

TOKYO Toshiba Corp faces a day of reckoning on Friday, when it is expected to offer an initial estimate of the multibillion-dollar charge it must take on its U.S. nuclear business, but this will be only a step in a series of tough choices on the Japanese conglomerate's survival.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Bankers, agents, fixers: the middlemen behind China's global soccer splurge

 

SHANGHAI A former property banker, Briton Alex Jarvis, said he fell into China's football boom with a chance encounter in the first class lounge of a cruise liner bound for New York in 2011.

3:34pm GMT

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BT Group faces U.S. lawsuits as Italian accounting scandal deepens

 

NEW YORK BT Group Plc has been hit by at least two shareholder lawsuits in the United States, after one-fifth of the telecommunications company's market value was wiped out on Tuesday, due in part to an accounting scandal in Italy.

3:33pm GMT

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EU gets tougher with its members over policing carmakers

 

BRUSSELS The European Commission issued guidance on Thursday on how EU members should be policing carmakers, a move EU officials said would likely lead to legal action against countries that fail to clamp down on cheating of diesel emissions regulations.

3:13pm GMT

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Greek economy seen surging this year, but not as much as government, creditors say

 

ATHENS Greece's economy will accelerate at a far faster rate this year than last, ending an eight-year nightmare of recession or stagnation but still performing less well than the government and its creditors project, the IOBE think tank said on Thursday.

3:05pm GMT

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Irish finance minister says AIB share sale likely in May or June

 

DUBLIN Ireland will likely sell a 25 percent stake in state-owned Allied Irish Banks (AIB) in May or June, Finance Minister Michael Noonan said on Thursday.

3:04pm GMT

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Johnson & Johnson refills drug cabinet with $30 billion Actelion deal

 

ALLSCHWIL, Switzerland U.S. healthcare giant Johnson & Johnson will buy Swiss biotech company Actelion in a $30 billion (23.76 billion pounds) all-cash deal that includes spinning off Actelion's research and development pipeline, the companies said on Thursday.

2:30pm GMT

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IMF wants to participate in Greek bailout in full - Eurogroup head

 

BRUSSELS The International Monetary Fund wants to fully participate in the latest Greek bailout, the head of euro zone finance ministers Jeroen Dijsselbloem told reporters on Thursday.

2:28pm GMT

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BT's Global Services head Alvarez to oversee Europe - source

 

LONDON Luis Alvarez, the head of BT's multi-national corporate division, will take direct responsibility for the firm's European business following an Italian accounting scandal, a person familiar with the situation said.

2:02pm GMT

How an Italian scandal brought British Telecom low

 

LONDON Britain's BT Group lost a fifth of its value this week after it said a scandal in Italy had blown a 530 million pound hole in its accounts and warned that demand for its business and government services had slowed.

2:01pm GMT

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Soccer-China's Lander buying stake in buoyant Southampton

 

SHANGHAI/BENGALURU Southampton were set to become the latest English Premier League team to get Chinese investment, with stadium builder Lander Sports Development saying on Thursday it was taking a stake in the club.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

UK retail sales unexpectedly shrink in January, dragged down by grocers - CBI

 

LONDON British retail sales fell unexpectedly in January, dragged down by the biggest decline in groceries sales since 2004, an industry survey showed on Thursday.

1:51pm GMT

Factbox - How Britain's retailers fared over Christmas

 

British retailers are giving updates on Christmas trading, by far their busiest period stretching from "Black Friday" on Nov. 25 to clearance sales in early January.

1:49pm GMT

Sage Group hit by underperforming U.S. payments business

 

LONDON Shares in Sage Group fell nearly 6 percent on Thursday after the British software company said a disappointing performance by its U.S. payments business hit its first quarter results and that it might sell the division.

1:25pm GMT

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Sky plans loyalty scheme to tackle customer retention as soccer costs hit profit

 

LONDON European pay-TV group Sky plans to introduce a loyalty scheme to stem a rise in customer defections that, together with a jump in the cost of soccer broadcasting rights, cast a shadow over first-half results on Thursday.

1:13pm GMT

Daily Mail publisher cuts revenue outlook for information business

 

LONDON The owner of the Daily Mail newspaper cut the revenue outlook for its sizeable information division on Thursday, sending its shares down as much as 8 percent.

1:09pm GMT

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Aberdeen says backs Imperial Brands decision to ditch pay policy plan

 

LONDON British fund firm Aberdeen Asset Management said on Thursday it welcomed a decision by Imperial Brands to ditch a proposal to change pay plans for its directors at the firm's impending annual meeting.

1:02pm GMT

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Lonmin reports lower output as protesters demand compensation

 

LONDON Lonmin reported weaker than expected output on Thursday, causing analysts to raise doubts over 2017 production targets, and faced demands for compensation following the shooting of 34 miners at Marikana in South Africa's platinum belt.

12:59pm GMT

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Whitbread to stick to London hotel growth plan despite slowdown

 

The head of Whitbread Plc , the owner of Premier Inn hotels and the Costa Coffee chain, said the company would stick to its plans to expand in the London hotels market despite reporting a slowdown there.

12:46pm GMT

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Microsoft to continue to invest over $1 billion a year on cyber security

 

TEL AVIV U.S. software firm Microsoft Corp will continue to invest over $1 billion annually on cyber security research and development in the coming years, a senior executive said.

12:41pm GMT

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UK's free trade deal with EU difficult to achieve: ECB's Villeroy

 

MUNICH, Germany Britain's quest for a free trade deal with the European Union once it leaves the bloc will be difficult to achieve, European Central Bank Governing Council member Francois Villeroy de Galhau said on Thursday.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Medical couple and butcher's boy win big from Actelion sale

 

ZURICH The 70-year-old son of a Swiss butcher is among the biggest beneficiaries of Johnson & Johnson's $30 billion (23.76 billion pounds) takeover of Actelion, Europe's biggest biotech company.

12:03pm GMT

Brexit effect on German insurers to be manageable - trade body GDV

 

BERLIN Britain's exit from the European Union will have a limited impact on German insurers as only 3.8 percent of their capital investments, or 29 billion euros ($31 billion), are in Britain, trade body GDV said on Thursday.

12:00pm GMT

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Barclays names Khanna, Marsh co-heads for Asia Pacific - memo

 

HONG KONG Barclays has appointed Jaideep Khanna and Reid Marsh as co-heads for Asia Pacific, replacing Andy Jones who will return to Britain, according to an internal memo seen by Reuters on Thursday.

11:43am GMT

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UK pay deals stay low even as inflation starts to bite

 

LONDON British workers are continuing to get subdued pay settlements even as inflation starts to pick up, a report from pay analysts XpertHR said on Thursday.

11:29am GMT

Russia worries Brexit uncertainty may hurt Russian companies - RIA

 

MOSCOW Russia is worried that uncertainty surrounding Britain's exit from the European Union could have a negative impact on Russian companies with ties to Britain, the RIA news agency quoted a senior Russian diplomat as saying on Thursday.

11:24am GMT

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UK car output hits 17-year high but investment tumbles

 

LONDON British car production reached a 17-year high last year, but the country's vote to leave the European Union contributed to a roughly 33 percent drop in investment in the sector, a car industry body said on Thursday.

11:18am GMT

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Overseas demand drives further recovery in UK commercial property - RICS

 

Demand from overseas investors is expected to support British commercial property this year even as the UK prepares to leave the European Union, an industry survey showed on Thursday.

11:17am GMT

Smiths Group sells power business to investment firm Dunes Point

 

British engineering conglomerate Smiths Group Plc said on Thursday that it sold the power business of one of its units to private investment firm Dunes Point Capital as a part of a plan to make the company leaner.

11:14am GMT

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Mortgages approved by UK banks hit nine-month high in December - BBA

 

LONDON, Jan 26 The number of mortgages approved by British banks hit a nine month high in December and consumer credit continued to expand at a robust pace, industry figures showed on Thursday.

11:13am GMT

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Brexit fallout to hit Britain in 2017, 2018 - EU's Moscovici

 

BRUSSELS The British economy will pay higher costs this year and next for the uncertainty created by its vote to leave the European Union, the EU economics commissioner said on Thursday, though he recognised Britain had so far fared well since the referendum.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Irish central bank trims growth forecast, cites external risks

 

DUBLIN Ireland's central bank trimmed its forecast for economic growth for this year on Thursday, citing a weaker outlook for export growth amid risks that it said were firmly weighted to the downside.

11:07am GMT

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Unilever ends 2016 with sales growth below estimates on India, Brazil

 

LONDON Consumer goods maker Unilever reported lower-than-expected fourth-quarter sales on Thursday, blaming the Indian government's withdrawal of high-value notes and a weak economy in Brazil.

10:38am GMT

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Anglo American boosts 2016 output overall, copper down in Q4

 

LONDON Anglo American on Thursday reported a sharp production fall at its Los Bronces copper mine in Chile at the end of last year offsetting an overall increase in mineral output across its mines.

10:32am GMT

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Kazakhstan, Shell-Eni group continue talks over tax dispute

 

ASTANA Kazakhstan has agreed to continue talks about a tax dispute with the Karachaganak consortium of oil majors led by Shell and Eni despite beginning arbitration proceedings, the Kazakh Energy Ministry said on Thursday.

10:17am GMT

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Under new CEO, Ericsson cuts dividend after quarterly loss

 

STOCKHOLM Mobile telecom equipment maker Ericsson cut its annual dividend by 73 percent, with its new CEO saying the Swedish company would prioritise profitability after it suffered an operating loss in the last three months of 2016.

10:05am GMT

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UK economy fundamentally strong, but uncertainty may lie ahead - Hammond

 

LONDON British finance minister Philip Hammond said on Thursday the economy's robust performance in the fourth quarter points to its fundamental strength, although he warned uncertainty may lie ahead as the process of Brexit progresses.

RBS sets aside $4 billion for 'painful legacy' of U.S. loan mis-selling

 

LONDON Royal Bank of Scotland has taken a 3.1 billion pound ($3.92 billion) provision as it prepares to settle claims in the United States that it mis-sold toxic mortgage-backed securities in the run up to the 2008 financial crisis.

9:10am GMT

Casino operator Rank's first half core profit falls 5 percent as costs rise

 

Casino operator Rank Group Plc said core operating profit for the first half fell 5 percent as increased inflationary and employment costs hurt the company, sending its shares down more than 6 percent in early trading.

9:02am GMT

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Any UK-U.S. trade deal will put Britain first - May

 

LONDON British Prime Minister Theresa May said on Wednesday any trade deal agreed with the United States would put British interests and values first.

9:00am GMT

Unilever CEO says keeping spreads business makes sense

 

LONDON Consumer goods producer Unilever plans to keep its shrinking spreads business as long as it continues to make financial sense, Chief Executive Paul Polman said on Thursday.

8:35am GMT

St. James's Place gets boost to assets from strong investor inflows, market gains

 

LONDON British wealth manager St James's Place's funds under management rose to 75.3 billion pounds in the fourth quarter, boosted by a record level of net inflows across its business and strong investment gains.

8:30am GMT

Actelion says R&D company will launch with 1 billion Swiss francs cash

 

ZURICH Actelion said the new research and development company to be created following the $30 billion takeover by Johnson & Johnson will be launched with 1 billion Swiss francs (789.95 million pounds)in cash.

8:29am GMT

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"Show me the money": divorce first, then trade deal, EU tells UK

 

BRUSSELS Since Prime Minister Theresa May set out her Brexit goals last week, interest in Britain has focused on the future trade deals she may one day strike with the United States and other powers, as well as with the European Union.

8:03am GMT

Kier says half-year underlying organic growth stays strong

 

British construction and support services company Kier Group said it had continued to experience good underlying organic growth over the last six months of 2016.

7:46am GMT

3i Group posts 24 percent third quarter return on assets

 

LONDON Investment company 3i Group's total return on assets reached 24.1 percent in its third quarter to Dec 31, it said on Thursday, helped by strong performance in its private equity division.

7:30am GMT

OPEC cuts will not impact Saudi oil supply to Japan - Saudi official

 

TOKYO Crude supplies to Japan from its biggest supplier Saudi Arabia will not be impacted by last year's agreement between OPEC and non-OPEC countries to cut output, a senior official of the kingdom said on Thursday.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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China offers anchor of stability, growth in uncertain world - Premier Li

 

BEIJING China offers "an anchor of stability and growth" in an uncertain world with its support for reform, openness and free trade, Premier Li Keqiang wrote in an article in Bloomberg Businessweek published on Thursday.

6:47am GMT

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Exclusive: Millions of barrels of Venezuelan oil stuck at sea in dirty tankers

 

HOUSTON/PUNTO FIJO, Venezuela More than 4 million barrels of Venezuelan crude and fuels are sitting in tankers anchored in the Caribbean sea, unable to reach their final destination because state-run PDVSA cannot pay for hull cleaning, inspections, and other port services, according to internal documents and Reuters data.

6:08am GMT

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South Korea's Kia Motors drafts Trump contingency plan

 

SEOUL Kia Motors said on Thursday it is drawing up a contingency plan to cope with the policies of U.S. President Donald Trump, reflecting growing wariness by Asian exporters about the prospect of U.S. protectionism.

6:02am GMT

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Heineken says deals an option as it eyes growth in Vietnam

 

SINGAPORE Heineken NV said it will consider deals to expand its presence in Vietnam - a young, beer-loving economy that is already its second-most profitable market globally - as the southeast Asian country loosens its grip on state-run brewers.

5:45am GMT

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Xiaomi executive Barra joins Facebook to lead virtual reality business

 

Facebook Inc has hired Hugo Barra, the most prominent global executive at Chinese smartphone maker Xiaomi Inc, to lead its virtual reality business including the Oculus unit, Chief Executive Mark Zuckerberg said.

5:32am GMT

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Japan PM says free trade talks with U.S. possible

 

TOKYO Japanese Prime Minister Shinzo Abe said on Thursday it was possible Tokyo and Washington could hold bilateral free trade talks in the wake of U.S. President Donald Trump's withdrawal from the Trans-Pacific Partnership (TPP) this week.

5:11am GMT

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Exclusive: China to target around 6.5 pct growth in 2017 - sources

 

(This January 16 story has been corrected to change figure of total 2016 loans to 12.65 trillion yuan from 12.56 trillion)

4:22am GMT

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China's shadow banking crusade risks bond market crash

 

SHANGHAI China's campaign to cut high debt levels in its economy is aiming this year to shrink the $3 trillion shadow banking sector, which could drain a critical source of income for the country's banks and of funding for its fragile bond market.

4:11am GMT

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China's 2016 industrial profits rise most in three years on commodities recovery

 

BEIJING Profits for China's industrial firms rose the most in three years in 2016 as a construction boom fueled a rally in prices of building materials from steel to cement, giving companies more flexibility to start chipping away at a mountain of debt.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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China keeps 3 percent budget deficit goal for 2017 as debt risks grow - sources

 

BEIJING China's policymakers plan to keep their budget deficit target for 2017 at the same level as last year to underscore a focus on debt reduction and reform, though they have wiggle room to increase fiscal stimulus if the economy needs support again.

3:12am GMT

China funds raise suggested equity exposure to 19-month high - Reuters poll

 

SHANGHAI Chinese fund managers have raised suggested equity exposure for the next three months to the highest level in 19 months, betting the market will rise after the Lunar New Year holidays, a monthly Reuters poll showed.

3:01am GMT

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Toshiba writedown for U.S. nuclear business to be $6 billion - Mainichi

 

TOKYO Toshiba Corp's upcoming writedown for its U.S. nuclear business that has been hit by cost overruns will be 680 billion yen ($6 billion), the Mainichi newspaper reported, without citing sources.

2:06am GMT

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Qualcomm misses revenue estimates, defends licensing model

 

Qualcomm Inc reported a lower-than-expected 3.9 percent rise in quarterly revenue on Wednesday, and defended its licensing model in the face of multiple legal challenges over its alleged "anticompetitive" tactics.

12:54am GMT

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India plans expansive budget despite growth, revenue worries

 

NEW DELHI India's finance minister is likely to borrow more than originally planned when he presents the budget on Feb. 1, senior aides and officials said, despite counting on revenues from a national sales tax whose launch date is still unknown.

12:42am GMT

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Global stocks up on reinvigorated Trump rally; Dow tops 20,000

 

NEW YORK Global equity prices rallied and the Dow Jones Industrial Average blew past the psychological 20,000 level on Wednesday, lifted by strong Japanese trade data, robust earnings and investor hopes that U.S. President Donald Trump will press ahead with a large fiscal spending package.

25 Jan 2017

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Discovery in price dispute with Sky, signals full blackout

 

Discovery Communications Inc's UK unit said on Wednesday negotiations with Sky Plc for a new carriage deal reached an impasse over a price dispute, threatening a blackout of Discovery channels from Sky's platform.

25 Jan 2017

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Oil edges down as traders weigh U.S. stock build, OPEC cuts

 

NEW YORK Oil prices ended less than 1 percent lower on Wednesday after data showed a build in U.S. crude inventories, reinforcing the view that oil prices are range bound, buoyed by expected OPEC production cuts while pressured by U.S. output growth.

25 Jan 2017

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Starbucks nominates Microsoft CEO Nadella to its board

 

Starbucks Corp nominated Microsoft Corp Chief Executive Satya Nadella to its board at a time when the company is increasingly focussing on technology to drive sales.

25 Jan 2017

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Analysis - Dow pops 20,000 and raises hopes rally is recharging

 

NEW YORK The Dow Jones Industrial Average index's pop over 20,000 on Wednesday crowns a frenetic post-U.S. election rally that featured the second fastest-ever climb between 1,000-point milestones in the Dow's 120-year history.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

  • 2 weeks later...

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

 

 

 

 

'If trade stops, war starts' Alibaba founder who visited Trump warns

 

'The world needs globalisation, it needs trade'

 

 

 

 

 

UK rail franchising system ‘not fit for purpose’, say MPs

 

 

 

 

 

 

 

 

 

 

Donald Trump meets top CEOs amid anger over impact of immigration ban

 

Many in the business community have denounced Mr Trump's orders

 

 

 

 

 

 

Inside London's first underground farm

 

 

 

 

 

 

Trump is 'very happy' with employment rate he once denounced as 'hoax'

 

 

 

 

 

 

HBOS fraud: It's time to tax audits to fund fraud cops

 

Thames Valley's Police and Crime Commissioner thinks more funds need to be found for fraud busting and he's right. Here's an idea for where find to them

 

 

 

 

 

 

 

 

Strong US jobs growth but weak wages in January

 

Non-farm payrolls rose by 227,000 last month, much higher than the 175,000 expected by economists

 

 

 

 

 

 

Apple is set to begin making iPhones in India

 

The US company has tapped Taiwan’s Wistron to put together its phones in the tech capital of Bangalore in Karnataka

 

 

 

 

 

 

 

 

Expectations of Trump dismantling Dodd-Frank send bank shares higher

 

The Dodd-Frank Act was introduced in 2010 in order to prevent a repeat of the banking crisis of 2008

 

 

 

 

 

 

Pound sterling falls below $1.25 after poor UK services figures

 

The latest Markit/CIPS Purchasing Managers' Index survey gave a reading of 54.5 last month, down from 56.2

 

 

 

 

 

Global demand for gold hits four-year high

 

 

 

 

 

Npower to increase energy prices by 9.8 per cent from mid-March

 

 

 

 

 

 

US dollar drifts lower after key jobs data

 

On Thursday the dollar index fell to its lowest level since 13 November

 

 

 

 

 

 

 

 

Snapchat: The NYSE's next star quarterback or the next investment bust

 

Investors trying to assess its potential are like NFL teams trying to assess college quarterbacks. It doesn’t matter how much work they do, it’s basically a crap shoot

 

 

 

 

 

 

Services growth falls for first time since September

 

Services have been almost entirely responsible for the maintenance of growth since last June’s Brexit referendum

 

 

 

 

 

 

 

M&A activity surges across Europe, Middle East and Africa

 

Deals completed last month in the region had a total value of $90.8 billion, the highest volume for any January since 2006

 

 

 

 

 

What is Dodd-Frank and are we heading for another financial crisis?

 

 

 

 

 

Britain is running out of lettuce

 

 

 

 

 

 

Snap has taken the first step to listing on the stock market

 

The number of Snap's daily active users grew to an average of 158 million at the end of December, up 48 per cent year-on-year

 

 

 

 

 

 

 

Uber boss quits Donald Trump's business group amid anger at travel ban

 

Critics have included the company’s cab drivers, many of whom are immigrants to the US

 

 

 

 

 

Activist fund urges Facebook to review impact of fake news

 

 

 

 

 

Central banks' 'fifteen minutes of fame' is nearly over, says Carney

 

 

 

 

 

 

Deal mania in City as Reckitt bid caps best start since 2008

 

Is this something to celebrate or should it concern us?

 

 

 

 

 

 

 

 

Soros’s Foundation fights Irish bankers over home foreclosures

 

Billionaire’s Open Society makes legal case against evictions

 

 

 

 

 

Queen’s bank Coutts fined by Swiss regulators over money laundering

 

 

 

 

 

Pound falls despite Bank of England's hike to UK growth forecasts

 

 

 

 

 

 

Facebook needs to find an answer to the fake news question

 

Even a messy court case couldn’t knock the gloss of its latest results, but it actually helped to highlight the company’s big issue

 

 

 

 

 

 

 

Brexit White Paper: David Davis commits to leaving EU customs union

 

Prime Minister Theresa May has suggested that the UK could negotiate some sort of “associate member” access

 

 

 

 

 

 

 

 

The pound has hit its highest level of 2017

 

The currency remains around 15 per cent lower against the dollar

 

 

 

 

 

 

 

Government admits there will be no cherry-picking on EU customs union

 

Lord Price said that the government understands that it will not be granted a special deal

 

 

 

 

 

 

American Airlines opens office in Cuba despite Trump uncertainty

 

The opening comes two months after the airline celebrated its first commercial flight from the US to Havana in more than five decades

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Rail franchise system 'not fit for purpose'

 

 

 

 

MPs say there are "serious deficiencies" in the way the government runs Britain's railways.

 

 

 

Related content

 

 

 

 

 

 

 

 

VW faces claim from big German client

 

Volkswagen faces its first legal action in Germany from a big corporate client over the diesel scandal.

 

  • 5 February 2017
  • From the section Business

 

 

Related content

 

 

 

 

 

 

 

Caught between Trump and a liberal place

 

Technology bosses seem open to talking with President Trump - but their staff seem to have other ideas.

Dave Lee North America technology reporter

 

 

  • 4 February 2017
  • From the section Technology
  • comments

 

 

Related content

 

 

 

 

 

US gets lower price for latest F-35 jets

 

  • 5 February 2017
  • From the section Business

 

 

Government vows to do more for renters

 

 

 

Trump orders review of banking rules

 

  • 3 February 2017
  • From the section Business

 

 

 

 

 

Labour promises cap on energy price rises

 

 

 

US jobs growth surges in January

 

  • 3 February 2017
  • From the section Business

 

 

UK service sector growth 'slows'

 

  • 3 February 2017
  • From the section Business

 

 

Lossmaking Snapchat may be worth $25bn

 

  • 3 February 2017
  • From the section Business

 

 

Why is Asia demanding so much baby formula?

 

  • 3 February 2017
  • From the section Business

 

 

Newsbeat Ivanka Trump fashion brand is dropped

 

  • 3 February 2017
  • From the section Home

 

 

 

 

Features & Analysis

 

 

 

 

Snapchat star

 

Teen reveals how he makes his social media fortune

 

  • 4 February 2017
  • From the section Business

 

 

 

 

 

Flip-flopping shoppers

 

Retailers 'left behind' as buying habits change

 

  • 3 February 2017
  • From the section Business

 

 

 

 

 

Virtual alternative

 

Could your robot go to work instead of you?

 

  • 3 February 2017
  • From the section Business

 

 

 

 

 

 

 

Superpower software

 

Is this the most effective way to protect your business from hackers?

 

  • 3 February 2017
  • From the section Business

 

 

 

 

 

'Legal, but immoral'

 

The new property trap affecting thousands

 

  • 2 February 2017
  • From the section Business

 

 

 

 

 

Sears' sorrows

 

Is the 130-year-old US retailer on the brink?

 

  • 2 February 2017
  • From the section Business

 

 

 

 

 

 

Our Experts

 

Has the 'Brexit effect' disappeared?

 

Another significant upgrading of the growth forecasts suggests that Brexit is only one factor affecting the UK - but the Bank still believes the economy faces significant risks.

2 February 2017

 

Kamal Ahmed Economics editor

Trump's weapon in trade war

 

The taxation policies of President Trump will show, among other things, why the subject is not boring.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Trump’s F.C.C. Quickly Targets Net Neutrality Rules

 

By CECILIA KANG 30 minutes ago

 

 

Ajit Pai, the new head of the commission, has taken aim at key components and consumer protections of President Barack Obama’s internet policy.

 

 

 

06FCC-sfSpan.jpg

Christopher Gregory/The New York Times

 

Ajit Pai, the new head of the Federal Communications Commission.

 

 

 

 

 

 

 

 

 

 

 

Fair Game

 

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The Trump Effect: What’s an Investor to Do?

 

By GRETCHEN MORGENSON

 

Bombshell executive orders from the president have dampened investors’ hopes of quick economic growth, at least for now.

 

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His Doctors Were Stumped. Then He Took Over.

 

By KATIE THOMAS

 

After his rare disease baffled specialist after specialist, Dr. David Fajgenbaum dedicated himself to solving his own case.

 

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China’s Intelligent Weaponry Gets Smarter

 

By JOHN MARKOFF and MATTHEW ROSENBERG

 

The United States no longer has a strategic monopoly on a technology that is widely seen as the key factor in the next generation of warfare.

 

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Early Signs Suggest Trump’s Actions Are Taking a Toll on Trump Brand

 

By RACHEL ABRAMS

 

Some major companies appeared to be creating distance between themselves and the Trump brand, possibly reacting to the president’s tumultuous first few weeks in office.

 

The Upshot

 

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Is the U.S. Economy Too Dynamic, or Not Dynamic Enough?

 

By NEIL IRWIN

 

Some economists say volatility has left workers feeling unmoored. Others point to stagnation as a cause.

 

 

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Trump Moves to Roll Back Obama-Era Financial Regulations

 

By BEN PROTESS and JULIE HIRSCHFELD DAVIS

 

The actions constituted a broad effort to loosen rules enacted after the financial crisis that restrict the way Wall Street can operate.

 

 

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Fiduciary Rule Is Now in Question. What’s Next for Investors.

 

By RON LIEBER

 

What should consumers do now that President Trump is trying to kill a rule that would have forced investment professionals to act in customers’ best interests?

 

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Will You Graduate? Ask Big Data

 

By JOSEPH B. TREASTER

 

Colleges are turning to predictive analytics to pinpoint hotspots for failure — say, a C in English comp, a B in a foundational course in your major.

 

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G.O.P. Hurries to Slash Oil and Gas Rules, Ending Industries’ 8-Year Wait

 

By ERIC LIPTON

 

Not since the Reagan administration has Washington moved so quickly to nullify so many federal regulations.

 

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Trust Records Show Trump Is Still Closely Tied to His Empire

 

By SUSANNE CRAIG and ERIC LIPTON

 

New documents on the president’s trust, set up to allay fears of conflicts of interest, show just how closely tied he remains to his business.

 

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For Andrew Puzder, Labor Nominee, Fighting for Owners’ Interests Began Early

 

By RUSS BUETTNER and NOAM SCHEIBER

 

As a young lawyer, Mr. Puzder led the defense for his boss, a famous mob lawyer and casino owner accused of squandering millions from his workers’ pension funds.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Barclays to overhaul back office operations to cope with ring-fencing

 

LONDON Barclays Plc is about to overhaul its back office operations under a restructuring to help it comply with new post-crisis rules forcing British banks to ring-fence their retail operations from their riskier business.

1:45pm GMT

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Britain too dependent on large housing developers - housing minister Barwell

 

LONDON Britain's housing market is too dependent on large homebuilders, housing minister Gavin Barwell said on Sunday, speaking ahead of the launch of the government's latest attempt to fix a chronic shortage of new homes.

4:40pm GMT

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Germany's Gabriel - give Italy, France, Portugal time to cut deficits

 

BERLIN European Union countries such as Italy, France and Portugal that are pursuing economic reforms should be given time to reduce their budget deficits, German Vice Chancellor Sigmar Gabriel said on Sunday.

6:15pm GMT

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First big German customer sues Volkswagen in diesel affair

 

HAMBURG, Germany Fish distributor Deutsche See is suing Volkswagen for misrepresenting a fleet of vehicles it leased as environmentally friendly, becoming the first major German customer to sue Europe's biggest carmaker over its diesel-test cheating.

1:31pm GMT

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Generali to hold meeting on Monday on Intesa stake - source

 

MILAN Italy's top insurer Generali will hold a meeting on Monday to discuss the 3 percent stake it bought in Intesa Sanpaolo in January to fend off unwanted interest from the bank, a person familiar with the matter said on Sunday.

1:38pm GMT

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Israel takes step toward allowing export of medical marijuana

 

JERUSALEM An Israeli government committee gave an initial nod on Sunday for the export of medical marijuana in what could be a windfall for companies in Israel, widely regarded as a leader in research in the field.

2:21pm GMT

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Qatar Airways flight from New Zealand to be longest by flying time

 

DUBAI Qatar Airways launched its first service to Auckland, New Zealand on Sunday with the return leg set to be the longest scheduled commercial flight by flying time, according to the airline's website.

8:16am GMT

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Google, unlike Microsoft, must turn over foreign emails - U.S. judge

 

A U.S. judge has ordered Google to comply with search warrants seeking customer emails stored outside the United States, diverging from a federal appeals court that reached the opposite conclusion in a similar case involving Microsoft Corp .

04 Feb 2017

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Germany's Schaeuble wants 'reasonable' Brexit deal for London

 

BERLIN The City of London offers financial services that benefit Europe as a whole and the European Union should recognise that in a "reasonable" Brexit deal with Britain, German Finance Minister Wolfgang Schaeuble said in a newspaper interview.

04 Feb 2017

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Chinese industry wants 'win-win' end to U.S. anti-dumping duties on washing machines

 

BEIJING Chinese industry called on Saturday for talks with the United States to seek an end to anti-dumping duties imposed on its exports of large washing machines, state news agency Xinhua reported.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Salzgitter CEO sees further rise in 2017 profit - BZ

 

FRANKFURT German steelmaker Salzgitter sees a further rise in profit this year as steel prices rise and restructuring measures continue to bear fruit, its chief executive told German markets daily Boersen-Zeitung in an interview.

04 Feb 2017

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Germany's Schaeuble wants 'reasonable' Brexit deal for London

 

BERLIN The City of London offers financial services that benefit Europe as a whole and the European Union should recognise that in a "reasonable" Brexit deal with Britain, German Finance Minister Wolfgang Schaeuble said in a newspaper interview.

04 Feb 2017

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Alibaba Group expands presence in Australia, New Zealand

 

SYDNEY Chinese online retailer Alibaba Group opened its Australian and New Zealand headquarters in Melbourne on Saturday, its first expansion in the region as it seeks to tap growing global demand for products from the two countries.

04 Feb 2017

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Lockheed, Pentagon announce $8.5 billion F-35 order

 

WASHINGTON The Department of Defense and Lockheed Martin Corp announced on Friday an agreement worth about $8.5 billion (7 billion pounds) for 90 F-35 jets, the lowest price to date for the Pentagon's most expensive program.

04 Feb 2017

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Telecom Italia reports 14 percent rise in core earnings

 

MILAN Telecom Italia on Friday posted a better than expected 14.4 percent rise in full-year core earnings, helped by cost cuts and its domestic operations returning to growth.

03 Feb 2017

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Trump ignites political fight over U.S. banking law reforms

 

WASHINGTON U.S. President Donald Trump on Friday ordered reviews of major banking rules that were put in place after the 2008 financial crisis, drawing fire from Democrats who said his order lacked substance and squarely aligned him with Wall Street bankers.

03 Feb 2017

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Nice start to the year. Pity about the rest of it

 

LONDON The world economy has begun the year in fine form. America is cruising along, China is growing faster than expected, Britain is muffling the Brexit downdraft. Even the usually lagging euro zone is perky.

03 Feb 2017

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Lacking voting rights, Snap IPO to test fund governance talk

 

BOSTON/SAN FRANCISCO Shares sold in a $3 billion initial public offering by the parent of Snapchat will lack voting power, testing the commitment of big asset managers in their recent fight for investor rights.

03 Feb 2017

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At Snap, cost of hosting sets high bar for revenue growth

 

SAN FRANCISCO Snap Inc’s initial public offering filing seemed to show a company with a basic math problem: the company's cost of revenue for 2016 - the amount it had to spend just to keep the messaging service running - was $47 million higher than its $405 million in sales.

03 Feb 2017

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Canada's Hudson's Bay makes takeover approach for Macy's - sources

 

Hudson's Bay Co has made a takeover approach for struggling retailer Macy's Inc , people familiar with the matter said, trying to push further into the U.S. market where it already owns the Lord & Taylor and Saks Fifth Avenue chains.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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UniCredit writedowns ring alarm bells for Italian banks

 

MILAN UniCredit has heavily written down the value of its 700 million euro ($756 million) investment in Italy's bank rescue fund and other investors are likely to follow suit, sources told Reuters, complicating efforts to stabilise the nation's banking sector.

03 Feb 2017

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Liberty House mulls partial public listing in London by 2018

 

LONDON Liberty House Group, an industrial and commodities group which has been buying up British steel assets, could list parts of the company in London by 2018, its executive chairman told Reuters on Friday.

03 Feb 2017

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European shares end the week higher on positive earnings and U.S. jobs growth

 

LONDON European shares ended a mixed week on a positive note on Friday, helped by well-received company earnings and buoyant economic data, while mining stocks were hit by weaker metal prices.

03 Feb 2017

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Britain's FTSE enjoys best day of 2017 as oils and banks rally

 

LONDON Britain's top share index climbed to a one-week high on Friday and recorded its best one-day rise so far this year, with a rally in energy and banking stocks eclipsing weaker miners.

03 Feb 2017

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Ireland plans new yardstick to tackle 'leprechaun economics'

 

DUBLIN Ireland will use a new yardstick to measure the health of its economy to account for its status as the European base for a number of major multinationals, something that has made a nonsense of conventional measures.

03 Feb 2017

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Deutsche Bank to cut back on equity trading staff - sources

 

FRANKFURT Deutsche Bank is set to cut roughly one in five equity trading jobs as part of a scheme to cut costs across the globe, two people with knowledge of the matter said on Friday.

03 Feb 2017

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RBS to pay $85 million penalty over attempted benchmark manipulation

 

LONDON Royal Bank of Scotland will pay a $85 million (£67.98 million) penalty to resolve civil charges that it attempted to manipulate a global benchmark for interest rate products, U.S. derivatives regulators said on Friday.

03 Feb 2017

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Europe without Merkel? Investors think through another 'surprise'

 

LONDON/BERLIN A serious challenger to German Chancellor Angela Merkel is forcing global investors to parse another potential electoral surprise - removal of a key political constant through years of euro zone turbulence but also an end to Europe's austerity bias.

03 Feb 2017

U.S. fines RBS $85 million for forex swap rates manipulation bid

 

WASHINGTON The U.S. Commodity Futures Trading Commission said it ordered the Royal Bank of Scotland to pay an $85 million (£67.98 million) fine as part of a settlement reached on Friday to settle charges RBS tried to manipulate a key foreign exchange swaps benchmark rate.

03 Feb 2017

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World business grows as it faces upcoming risks

 

LONDON Global businesses started 2017 on a solid footing, surveys showed on Friday, thriving ahead of a myriad of political risks in the coming year.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

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

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

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