Editor's Picks
Boris Johnson and CBI call for tougher strike laws
Monday 04 Oct 2010
London Mayor Boris Johnson and the CBI have called for tougher laws on strikes as London Underground starts its own 24 hour walkout.
Threat of new bank bail-out in 2011
Monday 04 Oct 2010
UK banks could require a new multi-billion pound bail-out, according to a report by an independent think-tank.
Ofgem calls for £32bn green investment
Monday 04 Oct 2010
It looks like the roads will have to be dug up again after energy industry regulator Ofgem said £32bn needs to be invested in pipes and wires as part of a drive towards a low carbon economy. Ofgem has estimated that gas and electricity bills will have to rise by an average of £6 a year per household over a decade to cover the cost of the investment.
African Diamonds accepts £51m Canadian bid
Monday 04 Oct 2010
African Diamonds (AFD) is backing an all-share bid from Canada’s Lucara that values the AIM listed miner at C$82m (£51m), or 51p a share.
Ferrexpo marketing chief resigns
Monday 04 Oct 2010
The chief marketing officer at Ukrainian iron ore producer Ferrexpo has resigned. Simon Wandke who joined the Swiss headquartered resources giant in 2006, will leave at the end of the year. “The board is well advanced in a search for Simon's replacement and is committed to ensuring a smooth and effective handover,” the firm said.
Goldman Sachs risks reviving bonus row
Sunday 03 Oct 2010
Controversial US investment bank Goldman Sachs feels its rivals in London have not been been playing the game on self-imposed restrictions on bankers' pay and has quietly ditched its £1m pay cap for London staff.
Defence firms caught in spending cuts tornado
Saturday 02 Oct 2010
Defence of the realm has been a hot topic over the last week, both in political and stock market circles. It all kicked off when a confidential letter to prime minister David Cameron from defence secretary Dr. Liam Fox was leaked to the press. Dr. Fox said he would be unable to support any substantial reduction in Britain’s armed forces.
BP spill cost breaks $11bn
Friday 01 Oct 2010
BP has spent $11.2bn (£7.1bn) cleaning up this summer’s oil spill in the Gulf of Mexico, capping the broken well and compensating those affected by the disaster.
Stock markets impress with September surge
Friday 01 Oct 2010
What a month it’s been for equity markets. Wall Street has rallied almost 8% for its best September since 1939 and London was up over 6% after hitting a new five-month high on Thursday. And that’s in a market still nervous about the threat of further sovereign debt problems and a possible double-dip recession.
Rolls and BMW in brakes recall
Friday 01 Oct 2010
BMW is recalling a quarter of a million cars in North America and the UK following reports of problems with the braking systems on a number of models.
IMF expects Ireland to avoid rescue
Friday 01 Oct 2010
Ireland is unlikely to have to tap the EU for funds to prevent its economy collapsing, according to the head of the International Monetary Fund (IMF).
BP spill cost breaks $11bn
Friday 01 Oct 2010
BP has spent $11.2bn (£7bn) cleaning up the oil spill in the Gulf of Mexico, capping the broken well and compensating those hit by the disaster. On the day American Bob Dudley takes over from Tony Hayward as CEO, the oil giant also said it has pledged assets including an overriding royalty interest in Thunder Horse, Atlantis and Mad Dog as collateral for its $20bn (£13bn) compensation fund
Haringey backs Spurs' stadium plans
Friday 01 Oct 2010
North London Premiership football team Tottenham Hotspur has received approval from Haringey council for its stadium redevelopment application.
Mothercare completes stake buy in franchisee
Friday 01 Oct 2010
Mothercare, the retailer focused on the baby and toddlers market, has received approval for its acquisition of a 25% stake in its Australian franchisee.
Brewin Dolphin 'comfortably ahead'
Friday 01 Oct 2010
Brewin Dolphin’s commission income during the fourth quarter is almost as high as the “very strong levels” reported a year ago, according to the stockbroker and investment manager. Fee income won’t be known until next Tuesday when the company has its quarterly fee run, but the increase in funds under management in real terms “has been strong”.
Posen stimulus decision not final
Thursday 30 Sep 2010
The chance of a three-way spilt at next week’s Bank of England policy meeting appeared to lessen Thursday after Monetary Policy Committee dove Adam Posen hinted colleagues might persuade him to drop calls for further stimulus.
Irish bank bailout bill grows
Thursday 30 Sep 2010
Bailing out the ailing bank Anglo Irish could cost as much as €34bn (£29bn) Ireland’s central bank has said. While the figure is how much the central bank envisages the government having to pay to keep the nationalised lender afloat in a worst case, or ‘stress’ scenario, it would still cost €29.3bn in a ‘base’ scenario, it said.
High-frequency trading investigation
Thursday 30 Sep 2010
The Treasury has commissioned a study into high-frequency trading following last May’s 1,000 point slump in the Dow Jones after a computer error.
Central Asia Metals starts trading
Thursday 30 Sep 2010
Central Asia Metals (CAM) will use most of the $60m (£38) it raised in its initial public offering (IPO) to fund the construction of a copper project in Kazakhstan, it said today as it entered the market.
Tate & Lyle on track despite higher corn costs
Thursday 30 Sep 2010
Sugar and sweetener firm Tate & Lyle said today that it expects its encouraging start to the year to continue in spite of higher corn costs. In the speciality food ingredients division, growth in speciality sweeteners and starches has remained steady, while sucralose volumes have been robust, though at lower selling prices, the company said.
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