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  • BoE watching inflation expectations closely, McCafferty says

    Friday 14 Jun 2013

    The Bank of England’s remit for flexibly targeting inflation – to achieve price stability - is the key part of its mandate and continues to be its primordial goal, according to remarks by Monetary Policy Committee (MPC) Ian McCafferty delivered at an event hosted by The Wall Street Journal at Eight Members Club, in London.

  • FX round-up: Fed may 'push back' on rate expectations

    Friday 14 Jun 2013

    Thursday saw another session of stormy summer trading, as markets continued moving toward relevant short-term technical levels, although - arguably - the most important news-flow came towards the end of the trading session.

  • Fastjet to launch first-ever international flights

    Friday 14 Jun 2013

    Africa-focused budget airline Fastjet has won the right to fly its first-ever international routes across the continent.

  • Glencore Xstrata taps banks for more credit

    Friday 14 Jun 2013

    Glencore Xstrata, the newly merged resources conglomerate, has signed revolving credit facilities worth 17.34bn dollars to support general corporate activity, replacing the previous facilities of the two companies before the merger.

  • Friday newspaper round-up: RBS, Polymetal, Apple...

    Friday 14 Jun 2013

    According to The Scotsman, Sainsbury's Chief Executive Officer (CEO) Justin King is among the names being thrown into the hat of potential recruits for the CEO role at RBS, "although a candidate from within the financial services sector remains most likely to replace Stephen Hester". The paper also names Tesco Bank boss Benny Heggins and Lloyds Deputy Chairman David Roberts as possible candidates.

  • London close: Investors reconnect with reality

    Thursday 13 Jun 2013

    Uncertainty regarding central-bank stimulus, reductions in global growth forecasts by the World Bank and the surprise departure of the head of one of the UK's biggest domestic banks prompted a sell-off on the FTSE 100 on Thursday, as volatility continued on markets across the globe.

  • Broker tips: RBS, HSBC, Petrofac

    Thursday 13 Jun 2013

    Credit Suisse gave its initial thoughts on the news that Royal Bank of Scotland Chief Executive Officer Stephen Hester has agreed to leave the group, saying that while the exit had been speculated in the past, "it still comes as a surprise in terms of timing".

  • London midday: Financials pull markets lower after Hester exit from RBS

    Thursday 13 Jun 2013

    Uncertainty regarding central-bank stimulus, reductions in global growth forecasts and the surprise departure of the head of one of the UK's biggest domestic banks prompted a sell-off on the FTSE 100 on Thursday, as volatility continued on markets across the globe.

  • RBS swings the axe on 2,000 investment banking jobs

    Thursday 13 Jun 2013

    Royal Bank of Scotland is expected to announce another 2,000 job cuts in its investment banking division today.

  • Rio Tinto sells US project as cost cutting continues

    Thursday 13 Jun 2013

    Rio Tinto has agreed to sell its US-based Eagle nickel-copper mine for 325m US dollars cash as part of a series of asset sales planned by new Chief Executive Sam Walsh.

  • Argos owner Home Retail sees sales improve, but margins slump

    Thursday 13 Jun 2013

    Homebase and Argos owner Home Retail has revealed an improvement in like-for-like (LFL) sales at both chains in the first quarter, though margins at both retailers were down sharply on the year before.

  • Mulberry profits fall as it looks to US, Asia for future growth

    Thursday 13 Jun 2013

    Luxury fashion group Mulberry revealed full year results in line with expectations, after stronger retail sales were weighed down by weaker wholesale, and as it eyes future growth in the US and Asia.

  • Thursday newspaper round-up: Stephen Hester, Ofgem, Centrica...

    Thursday 13 Jun 2013

    The Independent says that the news of Stephen Hester's departure from RBS "perplexed" many in the City last night after his work that nursed the bank back to health, with several describing his treatment as "shabby". The bank said that it was looking for a new leader ahead of its re-privatisation.

  • RBS boss Stephen Hester to step down ahead of re-privatisation

    Wednesday 12 Jun 2013

    Stephen Hester, the head of part-nationalised lender Royal Bank of Scotland, is to leave later this year as the government prepares to sell off its 81 per cent stake in the bank.

  • London close: Greece rumours spark late sell-off

    Wednesday 12 Jun 2013

    Equities dropped into the red for a third consecutive day on Wednesday with renewed political tension in Greece sparked another bout of market volatility.

  • Thursday preview: All eyes on Argos turnaround at Home Retail in Q1

    Wednesday 12 Jun 2013

    Home Retail, the owner of the Argos and Homebase chains, on Thursday is to update investors on how it has been trading in its fiscal first quarter.

  • FTSE 250 movers: Heritage Oil jumps as product ramps back up

    Wednesday 12 Jun 2013

    The share price of FTSE 250 upstream exploration and production firm Heritage Oil surged on Wednesday after the company said that production at its OML 30 licence in Nigeria is back at normal levels.

  • FTSE 100 movers: Severn Trent and Vodafone drop sharply

    Wednesday 12 Jun 2013

    Water group Severn Trent dropped sharply on Wednesday after the consortium of foreign investors that had bid for the company withdrew its offer last night. LongRiver, after having had its earlier proposals rejected by Severn Trent, said that it would not put forward a further offer "in the absence of meaningful engagement" with the utility's board.

  • London midday: Stocks higher as UK unemployment falls, M&A activity in focus

    Wednesday 12 Jun 2013

    M&A activity was the theme of the day in London on Wednesday as heavyweight stocks British Sky Broadcasting, Severn Trent and Vodafone grabbed the headlines. Nevertheless, after a choppy start, the FTSE 100 managed to register moderate gains by lunchtime.

  • UK unemployment slightly better than expected in May -UPDATE

    Wednesday 12 Jun 2013

    UK unemployment fell slightly during the month of May. The claimant count dropped by 8,600 versus forecasts for a 6,500 person drop, according to the latest data from the Office for National Statistics (ONS).

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