Factories and shops caught up in gloom December 15, 2011 FRENZIED discounting across high street stores failed to stave off a drop in retail sales last month as wary consumers continued to rein in their spending in the crucial Christmas trading period. And in more bearish news for the economy, a survey from the CBI showed that orders at manufacturers have slumped to their lowest [...]
UK in industrial output boost as trade deficit narrows February 9, 2012 British industrial output recovered more than forecast in December as manufacturers ramped up production, further dampening fears of recession. Meanwhile, Britain’s goods trade deficit narrowed to the smallest gap since February 2010. The rebound from the slump in the previous two months also supports views that the Bank of England will inject only £50bn into [...]
Woodford to sue Olympus for unfair dismissal January 6, 2012 The ousted British CEO of Olympus Corp, who blew the whistle on a $1.7BN accounting fraud, dropped his bid to return to the medical device maker, blaming cozy ties between its scandal-tainted management and big Japanese shareholders and saying the saga had taken its toll on his family. Michael Woodford’s campaign against its management rocked [...]
FTSE ends best month since October as oil provides boost January 31, 2012 BRITAIN’S top share index got a boost from strong corporate results, higher oil prices and improved risk appetite yesterday, enabling it to post its best performance in three months in January. After a gloomy 2011 – when the FTSE100 lost 5.6 per cent – the new year has heralded a cautious return to risk, with [...]
HSBC sells off Japanese arm December 20, 2011 HSBC this morning said it would sell private banking business in Japan to Credit Suisse for an undisclosed sum. Europe’s biggest bank said the value of the gross assets of the business being sold was £1.7bn at the end of October. The acquisition, which is subject to regulatory approval, is expected to close in mid-2012. [...]
HSBC sells off Japanese arm December 20, 2011 HSBC this morning said it would sell private banking business in Japan to Credit Suisse for an undisclosed sum. Europe’s biggest bank said the value of the gross assets of the business being sold was £1.7bn at the end of October. The acquisition, which is subject to regulatory approval, is expected to close in mid-2012. [...]
FTSE slips as investors eye US growth data January 27, 2012 THE FTSE 100 slipped in early trading as investors looked to Greece for signs of progress on a deal to save it from default and to the US where key GDP figures are due for release. Greece and its private creditors made progress in talks on restructuring its debt yesterday with some indication given that [...]
Factory stats help equities January 2, 2012 STOCKS in the Eurozone started 2012 with a boost, after data showed a slower than expected fall in manufacturing activity last month. Markit’s latest purchasing managers’ index (PMI) rose to 46.9 in the final month of last year, up from a 28-month low of 46.4 in November. Large Eurozone economies such as Germany, France and [...]
Factory stats help equities January 2, 2012 STOCKS in the Eurozone started 2012 with a boost, after data showed a slower than expected fall in manufacturing activity last month. Markit’s latest purchasing managers’ index (PMI) rose to 46.9 in the final month of last year, up from a 28-month low of 46.4 in November. Large Eurozone economies such as Germany, France and [...]
Data shows deposits fleeing Irish lenders November 30, 2011 IRISH banks suffered a near €3bn (£2.6bn) outflow in deposits in October, reversing two months of inflows, as the deepening Eurozone debt crisis spooked some savers, central bank data showed yesterday. Irish banks, including local units of foreign banks, had nearly €350bn in deposits from residents and non-residents at the end of October compared to [...]