US stocks plunge after panic selling August 8, 2011 US stocks plunged on yesterday, taking the S&P 500 down more than six per cent on growing fears of a recession, exacerbated by the loss of the country’s pristine triple-A credit rating. Panicked selling on heavy volume resulted in the S&P 500’s worst day since December 2008, with every stock in the benchmark index ending [...]
GREECE VOTES TO CUT ITS DEFICIT June 30, 2011 MARKETS rallied after the Greek parliament fell into line yesterday and voted through the budget laws needed to qualify for a €12bn (£10.8bn) aid tranche. The result means that Greece has passed the last hurdle standing in the way of the rescue funds that prevent a disorderly default in the next month. The aid will [...]
GREECE VOTES TO CUT ITS DEFICIT June 30, 2011 MARKETS rallied after the Greek parliament fell into line yesterday and voted through the budget laws needed to qualify for a €12bn (£10.8bn) aid tranche. The result means that Greece has passed the last hurdle standing in the way of the rescue funds that prevent a disorderly default in the next month. The aid will [...]
WOULD YOU LIKE A WILL OR DIVORCE WITH THAT? July 28, 2011 WHEN the Legal Services Act was announced last year, it was quickly dubbed the Tesco law, due to rumours it could encourage supermarkets to start offering legal services to their customers. But come Monday the moniker may have to be altered. Despite news this week that the Act could be delayed until the end of [...]
Stocks slump as sovereign debt fears intensify July 18, 2011 Feeble bank stress tests in Europe and looming sovereign debt worries pushed UK stocks into a downward spiral today and left the FTSE 100 at a two-week low. More than 90 per cent of the European banks tested against stress scenarios passed, with a capital shortfall of only €2.5bn (£) – but markets rejected the [...]
MGM NEEDS FINANCIAL WIZARD November 3, 2010 Metro-Goldwyn-Mayer Studios filed for bankruptcy yesterday, marking a climax to a long restructuring for the Hollywood studio that controls the James Bond films and made The Wizard of Oz. The Chapter 11 filing follows last week’s vote by creditors to support a prepackaged bankruptcy in which MGM will shed more than $4bn (£2.5bn) of debt [...]
MGM creditor deal gives 007 licence to film October 31, 2010 THE creditors behind MGM studios have voted in favour of a new deal which puts Spyglass Entertainment at the helm. The deal will enable the Hollywood filmmaker to proceed with the production of the latest James Bond film, which had been mothballed due to failure to secure a sale of the studio. More than half [...]
FTSE tumbles as Greek crisis prompts flight from equities June 16, 2011 BRITAIN’S top shares fell sharply yesterday as fears over the global recovery and a contagion impact from the Greek debt crisis prompted investors to sell out of riskier assets such as commodity stocks. The FTSE 100 ended down 43.74 points, or 0.8 per cent, at 5,698.81, back at levels last seen after the Japanese earthquake, [...]
BORIS BROTHER PLOTS HIS PASSAGE TO INDIA June 21, 2011 FOR ONCE, Boris Johnson wasn’t the centre of attention. Instead, his brother Jo Johnson MP took the spotlight at the Number 11 Downing Street reception to launch Reconnecting Britain and India, the book of essays Johnson co-edited with the Indian Chambers of Commerce secretary general Dr Rajiv Kumar. Rachel Johnson, editor of The Lady, was [...]
Trading your charts for the fundamental view May 30, 2011 REAL-TIME prices can provide fundamental insights hard to find by just studying the charts. For instance, you may have noticed that the equity markets are playing the “risk on, risk off” game continuously at the moment. If you haven’t, then it’s something you should know about. Catching the swings in the equity markets relies on [...]