FTSE rebounds as investor confidence returns March 21, 2011 Stocks regained considerable ground today, consolidating their gains this afternoon, as reassuring action in Japan and Libya gave investors confidence. The morning’s announcement of telecoms giant AT&T’s $39bn (£24bn) takeover of Deutsche Telekom’s T-Mobile USA also lifted both the UK and US markets. The FTSE 100 closed up 1.2 per cent at 5,786.09. “Equity markets [...]
Greene King buys Cloverleaf January 31, 2011 GREENE King has bought the pub restaurant group Cloverleaf for £56m. Chief executive Rooney Anand (pictured) said the acquisition, combined with a planned investment of around £25m to open ten new Cloverleaf premises within two years, would utilise the remaining balance of its rights issue proceeds. The deal has added another 12 restaurants to Greene [...]
What the other papers say this morning February 10, 2011 FINANCIAL TIMES BIG SOCIETY PLAN “WILL NOT PLUG CUTS GAP” The Big Society Bank and other social finance initiatives will not be enough to replace charitable projects hit by government spending cuts, according to figures compiled by the Financial Times and the Young Foundation think-tank. Geoff Mulgan, former strategy director at Number 10 and head [...]
Inflation risk turns up heat on Bank rate February 13, 2011 THE Bank of England could signal an imminent rise in interest rates this week, with the publication of the latest inflation report which forecasts inflation and growth in the UK. “We expect the Bank’s report to show an upward revision to their inflation projection and to signal that the first rate hike is likely to [...]
THE WEEK AHEAD February 13, 2011 COMPANY NEWS ● Barclays will release its full year results tomorrow. ● Miner BHP Billiton will release its half year results on Wednesday. ● French bank Societe Generale will release its fourth quarter results on Wednesday. ● On Thursday, bank BNP Paribas will release its fourth quarter results. ● BAE Systems will release its full year results on Thursday. [...]
RBS and its NatWest division is fined £2.8m for poor handling of complaints January 11, 2011 BRITAIN’S financial watchdog fined Royal Bank of Scotland (RBS) and its NatWest division £2.8m yesterday for poor customer complaints handling. The Financial Services Authority (FSA) said its investigation found an unacceptably high risk that customers may not have been treated fairly due to multiple failings in 2009 in the banks’ approach to routine complaint handling. [...]
RBS and its NatWest division is fined £2.8m for poor handling of complaints January 11, 2011 BRITAIN’S financial watchdog fined Royal Bank of Scotland (RBS) and its NatWest division £2.8m yesterday for poor customer complaints handling. The Financial Services Authority (FSA) said its investigation found an unacceptably high risk that customers may not have been treated fairly due to multiple failings in 2009 in the banks’ approach to routine complaint handling. [...]
Banks pull FTSE 100 down while resources make gains February 28, 2011 THE FTSE 100 share index fell slightly yesterday as disappointing results from HSBC and Associated British Foods outweighed strength from miners on optimism about the global economy. The blue-chip index ended 7.19 points, or 0.1 per cent lower, at 5,994.01, after it closed 1.4 per cent higher on Friday at 6,001.20, bouncing back after five [...]
European stocks drop as UK and Spain falter January 25, 2011 EUROPEAN shares fell yesterday, as confidence in Britain was shaken by an unexpected drop in fourth-quarter UK growth figures and with Spanish banks down on concerns new capital requirement rules may not be tough enough. Britain’s economy unexpectedly shrank 0.5 per cent in the last three months of last year, the first quarterly drop since [...]
Mortgage approvals edge up January 4, 2011 MORTGAGE approvals unexpectedly increased to their largest number in four months in November, the Bank of England revealed yesterday. The Bank also released data on the money supply, with its favoured measure increasing by 0.2 per cent on the previous month, and 3.5 per cent year-on-year in the three months to November. And after a [...]