Editor's Picks
Bank of England boosts money supply today
Wednesday 11 Mar 2009
The Bank of England has effectively started the printing presses today as part of its £75bn programme of ‘quantitative easing’ to boost the British economy. It wants to buy as much as £2bn of gilts, or government bonds, from institutional investors. The idea is that the central bank gets its new money into the system and into the banks, which should then increase the amount they lend
Madoff expected to plead guilty
Tuesday 10 Mar 2009
Bernard Madoff could spend the rest of his life behind bars after he agreed to plead guilty to running a huge Ponzi scheme. Madoff is expected to plead guilty to eleven charges of money laundering, perjury and fraud when he appears in a New York Court tomorrow. The charges carry a maximum sentence of 150 years.
Argos improvement keeps Home Retail on course
Tuesday 10 Mar 2009
Argos and Homebase owner Home Retail continued to see like for like sales fall at both companies during the last eight weeks of its financial year, although the catalogue business did better than feared.
Cattles problems continue to mount
Tuesday 10 Mar 2009
Lender Cattles suspended three more directors in its ongoing financial probe as it warned of posting losses for 2008 and said it is in breach of its covenants.
Recession takes toll on bleak Britain
Tuesday 10 Mar 2009
The recession is getting worse and its impact shows no sign of lessening in the near-term, a position confirmed by an ugly bunch of figures released today. Weaker demand, tight credit conditions and fierce competition continued to blight the UK's manufacturing sector in January, with output falling for the 11th month in a row.
Retail sales suffer as January binge ends
Monday 09 Mar 2009
Retail sales turned down sharply in February as a combination of snow and sale fatigue kept shoppers away in droves, latest figures from the British Retail Consortium showed. "The short burst of spending unleashed by January clearances has largely vanished, replaced by sales as weak as most of last year," said BRC Director General Stephen Robertson.
Lloyds shares slide on bailout
Monday 09 Mar 2009
The share price of Lloyds Banking Group has plummeted as investors react negatively to the government increasing its stake in the bank for underwriting £260bn of its toxic assets. Chairman Sir Victor Blank and chief executive Eric Daniels are on a charm offensive today, explaining the deal struck over the weekend that sees the government take a 65% controlling stake in the bank
Lloyds bosses under pressure after govt bailout
Sunday 08 Mar 2009
Lloyds bosses could face calls to resign after the government took a 65% controlling stake in the bank, which could rise to 77%, for underwriting £260m of the bank's toxic assets. Chairman Sir Victor Blank and chief executive Eric Daniels will discuss the deal with shareholders on Monday as it emerged that 83% of the bad loans to be guaranteed by the government were on the books of HBOS.
Private investors move into cyclicals
Friday 06 Mar 2009
Ignoring advice about not trying to catch a falling knife, private investors are returning to equity markets after many headed hurriedly for the sidelines during 2008. According to Capita Registrars, private investors were net buyers of equities to the tune of £170m in the first two months of 2009..
New markets drive G4S forward
Friday 06 Mar 2009
Security solutions provider G4S put in a strong all-round performance in 2008, with new markets trading especially well.
Savings rates dive to record lows
Friday 06 Mar 2009
Average rates on savings accounts fell to a new record low in February according to the latest data from the Bank of England, even before this month's cut in interest rate.
Cattles suspends more directors, sees losses
Friday 06 Mar 2009
Beleaguered lender Cattles said it will incur "significant" losses for 2008 and will need to restate figures for 2007 as it suspended three more directors in its ongoing financial probe.
US unemployment hits 8.1%
Friday 06 Mar 2009
More than one in 12 US workers are now out of work as unemployment climbed in February above 8% with a further 651,000 jobs cut across all states and all sectors.
Wolseley's complex cash-call to raise £1bn
Friday 06 Mar 2009
Plumbing firm Wolseley announced a complex £1bn cash-call, which it hopes will strengthen its balance sheet and reduce debt.
Late Easter blamed for John Lewis sales slump
Friday 06 Mar 2009
John Lewis department stores suffered a 10.3% plunge in sales last week as the deepening recession persuaded consumers to keep their purses firmly shut.
Segro joins property cash-call trend
Friday 06 Mar 2009
The procession of property companies undertaking a rights issue could come to an end soon after Segro confirmed it hopes to raise £500m.
Nikkei falls to 4-month lows
Friday 06 Mar 2009
Concerns about the world financial system hit Asian stocks, with the Japanese Nikkei nearing 26-year lows.
Wolseley announces £1bn cash-call
Friday 06 Mar 2009
Plumbing and heating products distributor Wolsely announced its long awaited cash-call alongside a package of other measures, which it hopes will strengthen its balance sheet and reduce debt.
Black cab maker asks for government cash
Thursday 05 Mar 2009
London taxi cab maker Manganese Bronze has applied to the government for financial assistance after big losses prompted the axing of the final dividend.
Lloyds to become state-owned and join asset scheme
Thursday 05 Mar 2009
Lloyds Banking Group is poised to dump over £250bn worth of toxic assets into the UK government's asset protection scheme, with the taxpayer's stake in the bank rising to more than 60% as a result, according to reports this morning. Alistair Darling, the Chancellor, has reportedly agreed an outline deal that will see Lloyds deposit £258bn of loans into the asset scheme.
You are here: news > editors picks
10 Lower Thames St,
London EC3R 6EN