Editor's Picks
Britons to pay price for servicing UK debt pile
Wednesday 22 Jul 2009
We’ll all have to pay more tax and work longer if the government is to tackle Britain’s debt crisis and pay the interest owed, which could double within four years, an economic think tank claims.
BHP Billiton sees mixed year for commodities
Wednesday 22 Jul 2009
The underlying trend for metals demand is still being masked by restocking activity, according to BHP Billiton, and demand for commodities generally is mixed as China has rebuilt its stocks. "The 2009 financial year proved to be very challenging, with significant demand contraction exacerbated by dramatic movements in inventory levels," the miner said in its latest annual production update
Stock markets make it a magnificent seven
Tuesday 21 Jul 2009
The summer of love continued in the equity markets Tuesday when US and European stocks rose for the seventh trading day in a row. The FTSE 100 has jumped 10% to a six-week high during its longest winning streak in four years. Forecast-busting results from America’s biggest companies and the rescue of US lender CIT have all been a welcome boost for equities
Consider a currency card to save holiday cash
Tuesday 21 Jul 2009
Holiday season is fast approaching and tough times are forcing people think harder than normal about ways to save money.
UK debt hits June record
Tuesday 21 Jul 2009
The awful state of Britain’s finances was further exposed today with the budget deficit soaring to £13bn in June, its highest figure on record for that month. Office for National Statistics numbers were not quite as bad as feared, but still the worst since the series began in 1993 and sharply higher than the £7.5bn a year ago
FSA warns banks on bonuses
Tuesday 21 Jul 2009
Britain's financial services industry has been warned that they could face heavy fines in future if they employ staff on guaranteed bonus deals.
Morrison soars after raising forecast
Monday 20 Jul 2009
Supermarket chain Wm.Morrison soared after it said full year results are expected to beat previous forecasts due to continuing customer growth and cost cutting measures.
Bids expected for GM Europe
Monday 20 Jul 2009
Belgian private equity firm RHJ International and Canadian auto parts supplier Magna are expected to table their bids for GM Europe, which includes German carmaker Opel and the UK’s Vauxhall, today.
Mortgage lending hits 2009 high
Monday 20 Jul 2009
Mortgage lending leapt by 17% in June to its highest since December, although tight lending conditions and rising unemployment may delay any significant improvement. The Council of Mortgage Lenders (CML) said gross mortgage lending, which includes house purchase lending and re-mortgaging, rose to £12.3bn last month from £10.5bn in May, but that’s still 48% less than June 2008
CIT strikes $3bn rescue deal, reports
Monday 20 Jul 2009
US lender CIT Group struck a last minute $3bn rescue deal with major shareholders to save it from bankruptcy, according to reports.
House prices bounce back in July
Monday 20 Jul 2009
The average asking price for a property in England and Wales jumped more than £1,400 this month as buyers chased a decreasing number of bargains, according to Rightmove. Prices rose 0.6% in July to an average £227,864, the fifth rise in the past six months, narrowing the annual rate of decline to 3.1% from 5.5% in June. They had fallen 0.4% in June
Next raises profit forecast by £30m
Monday 20 Jul 2009
Better than expected trading recently inspired by the hot weather in June has prompted Next to bring forward its latest trading update by a week and to increase its profit estimate for this year by £30m.
AIM delistings at record but benefits exist
Friday 17 Jul 2009
Companies on AIM are withdrawing from the market in record numbers, but there are still long term benefits of weathering the current poor conditions and remaining on the junior market.
Consider a currency card to save holiday cash
Friday 17 Jul 2009
Holiday season is fast approaching and tough times are forcing people think harder than normal about ways to save money.
Porsche, VW tie-up deal could be delayed
Friday 17 Jul 2009
The final showdown in the takeover saga between Porsche and Volkswagen could be delayed, with press reports claiming that it could take until the end of the month for a resolution to emerge.
Greater China looks to the long term
Friday 17 Jul 2009
Baillie Gifford is to test the appetite of retail investors for emerging markets by rolling out its Greater China Fund to the public.
Blink and risk missing the best mortgages
Friday 17 Jul 2009
Homeowners need to move quickly if they want to secure the best mortgage deals, as lenders remain reluctant to top the best buy charts for fear of being swamped with applications. The average shelf life of a mortgage product tumbled from 23 days to just 14 days in June. Rising swap rates forced up the cost of fixed-rate loans, while products were replaced as they became “too marketable”
One-off helps Citigroup make $4.3bn
Friday 17 Jul 2009
A $6.7bn after tax boost from the sale of a stake in Smith Barney to Morgan Stanley helped Citigroup post a profit of $4.3bn in the second quarter.
John Lewis sales slip slows
Friday 17 Jul 2009
A big push to clear out old stock and a rush to buy garden furniture left sales at John Lewis department stores down just 1.6% last week to £54.3m.
Mothercare keeps kids (and shareholders) happy
Thursday 16 Jul 2009
Parents are struggling to pay the bills and hang onto their jobs, but bumper sales at children’s retailer Mothercare suggest the kids are blissfully unaware that Britain is toughing out the deepest recession in decades.
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