Editor's Picks
Footsie sinks below 5,000
Friday 21 May 2010
It was a volatile day on the markets, but Footsie rallied back above 5,000 points before the close, having sunk below that level earlier in the afternoon, and finished only slightly in the red. European worries are continuing to set traders’ nerves on edge. Germany’s parliament approved the country’s share of a €750 billion eurozone rescue package on Friday.
Footsie sinks below 5,000 on euro panic
Friday 21 May 2010
The FTSE 100 has plunged below 5,000 for the first time in over six months as markets continue to fret about Europe’s sovereign debt crisis and potential financial regulation. London’s leading index sank below the big figure just after midday. It hasn’t been this low since early November and hasn’t closed below 5,000 since October. Banks like RBS, Lloyd and HSBC are sharply lower
German parliament backs bail-out
Friday 21 May 2010
Germany’s parliament has approved the country’s share of a €750 billion eurozone rescue package on Friday.
US Senate passes financial reform bill
Friday 21 May 2010
Wall Street is heading for its biggest shake-up on over fifty years following the US Senate's passing of President's Obama's bill to overhaul the US financial markets.
Public sector borrowing better than expected
Friday 21 May 2010
Public sector borrowing posted a smaller-than-expected deficit in April, official data showed.
German parliament votes on Euro bailout
Friday 21 May 2010
Germany's parliament is expected to approve the country’s share of a €750 billion eurozone rescue package on Friday.
Coalition government plans - cuts, tax & banking
Friday 21 May 2010
The Conservative-LibDem coalition government this week outlined plans to reform the banking system and said reducing the deficit was one of the most “urgent” issues facing the country.
Euro woes panic markets
Thursday 20 May 2010
Stock markets plunged Thursday as fears about the region's debt crisis intensified and on worries about German demands for tougher regulation of financial markets. Banks struggled, sending London lower, while Deutsche Bank, Credit Agricole, and SocGen fell sharply on the mainland. Wall Street slumped nearly 3% as Angela Merkel advocated a hands-on global response to market regulation
Coalition government outlines banking reform
Thursday 20 May 2010
The new coalition government has reiterated its plans to reform the banking system, which it said will sustain the recovery and protect jobs.
British Airways strike back on
Thursday 20 May 2010
British Airways passengers face a new wave of walkouts by the airline's staff after a court overturned an injunction blocking a series of strikes.
Merkel holds euro crisis meeting
Thursday 20 May 2010
German Chancellor Angela Merkel has demanded a strong international response to the regulation of markets and the financial industry. At a conference today, Merkel called on the G20 group of nations to display a "common signal of strength" when they meet next month. Tougher regulation has been talked about ever since the financial crisis began. “At some point we have to show: we've done it."
BP collects 3,000 barrels a day from leak
Thursday 20 May 2010
BP said on Thursday that it is diverting about 3,000 barrels of oil a day into a drillship via a mile-long tube inserted into the broken MC252 oil well following the Deepwater Horizon disaster in the Gulf of Mexico.
Latin America lifts SABMiller's profits
Thursday 20 May 2010
South African brewer SABMiller reported improved full-year figures with Latin America driving growth in the company’s profits.
National Grid to raise £3.2bn, profits rise
Thursday 20 May 2010
National Grid announced a fully underwritten rights issue to raise £3.2bn as it posted a 57% rise in full year profits. The gas and electricity supplier said the 2 for 5 right issue will be priced at 335p per share, a 43.7% discount. It will issue 990.4m shares. The group said the rights issue will give it the appropriate financial flexibility to deliver its strategy.
Blinkx tunes into smartphone revolution
Wednesday 19 May 2010
Blinkx claims to be the world’s largest search engine, though this is not to say that it competes with much better-known companies such as YouTube and MySpace.
Merkel comments and ban slam markets
Wednesday 19 May 2010
Markets across Europe slumped on Wednesday as German chancellor Angela Merkel warned that Europe is facing its greatest crisis in decades and could see a possible collapse of the euro. Her comments followed a shock move last night by the German financial regulator BaFin to impose a ban on short-selling of European bonds, credit default swaps and ten of Germany’s biggest financial groups.
PIGS find comfort in beautiful game
Wednesday 19 May 2010
South Africa will be home to some of the planet’s best footballers next month when teams from 32 countries arrive there for the sport’s premier tournament – the FIFA World Cup.
Merkel comments and ban slam markets
Wednesday 19 May 2010
Markets across Europe slumped this morning as German chancellor Angela Merkel warned that Europe is facing its greatest crisis in decades and could see a possible collapse of the euro.
Bank of England MPC voted 9-0 to hold rates at 0.5%
Wednesday 19 May 2010
All nine members of the Bank of England Monetary Policy Committee (MPC) voted to keep interest rates at 0.5% and maintain quantitative easing at £200bn, minutes from the meeting held last week show.
'Suckers list' has 38,000 names
Wednesday 19 May 2010
A list containing the names and addresses of 38,000 people targeted by so-called 'boiler room' share scammers has been found by the FSA. The list is the biggest the FSA has ever recovered and is believed to still be in active use by boiler rooms operating in the UK and abroad. It contains the names and addresses of 38,242 people, most of whom are based in London and the South East,
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