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  • Finance firms to lose $4trn

    Tuesday 21 Apr 2009

    When the dust from the credit crunch has settled the world’s banks could have lost a mind-boggling $4.1trn (£2.8trn), the International Monetary Fund (IMF) warned Tuesday.

  • Budget Preview

    Tuesday 21 Apr 2009

    Alistair Darling is expected to use today's Budget to predict the worst economic crisis since the Second World War. Pundits think the Chancellor will forecast a 3% contraction in the economy this year, a sharp revision to his November prediction of a 1% decline. He’s expected to serve up a mix of belt-tightening and stimulus measures.

  • Primark overshadowing other ABF businesses

    Tuesday 21 Apr 2009

    Primark’s significance for Associated British Foods is clear to see. Even though the group saw profits fall 33% for the half-year, shares rose as investors concentrated on the strong figures posted by the discount fashion retailer.

  • Budget to extend stamp duty holiday

    Tuesday 21 Apr 2009

    The housing sector looks like getting a boost in tomorrow’s Budget, with chancellor Alistair Darling set to extend the stamp duty "holiday" on homes costing up to £175,000.

  • Market welcomes Carphone demerger plan

    Tuesday 21 Apr 2009

    Carphone Warehouse will split itself into separately listed retail and telecoms businesses, but has delayed the move until the cost of financing improves.

  • Deflation hits Britain for first time in 49 years

    Tuesday 21 Apr 2009

    The Retail Price Index (RPI) measure of inflation turned negative for the first time since 1960 in March, according to figures out today. A drop in mortgage costs in recent months sent RPI to -0.4% last month from a zero read in February, said the Office for National Statistics (ONS). Annual consumer price inflation, the government’s preferred measure, also fell, down to a one-year low of 2.9%

  • Mixed results from Bank of America

    Monday 20 Apr 2009

    Bank of America (BoA) reported a rise in income but soured the current upbeat mood in the US banking sector with its caution over the state of the credit situation.

  • Oracle to buy Sun Microsystems for $7.4bn

    Monday 20 Apr 2009

    Oracle Corporation has agreed to buy Java software maker Sun Microsystems for 9.50 per share in cash.

  • Darling to unveil £15bn Budget cuts

    Monday 20 Apr 2009

    Chancellor Alistair Darling is expected to unveil up to £15bn of spending cuts over the next few years when he delivers his Budget statement on Wednesday.

  • AIM shows new lows for cash raised

    Monday 20 Apr 2009

    The AIM market showed record lows for fresh money raised by new companies entering the junior market, according to business advisory firm Deloitte.

  • High earners fear pension raid in UK budget

    Monday 20 Apr 2009

    While all UK Budget statements can said to be important, Wednesday’s Budget speech by Alistair Darling is likely to be the most momentous of any given by a Chancellor of the Exchequer since Labour returned to power in 1997.

  • Tesco profits top £3bn

    Monday 20 Apr 2009

    Supermarket giant Tesco's underlying profits jumped to over £3bn last year, the highest total ever for a UK retailer. The group took over £1bn a week at the tills worldwide last year and said current trading is solid, with UK like-for-like sales up 3.4% in the first six weeks of its new financial year.

  • Associated British Foods profits down 33%

    Monday 20 Apr 2009

    Associated British Foods saw profit fall for the half year but said it expects to see progress in operating profit in the second half and little change in adjusted earnings per share for the full year.

  • Sunday newspaper round-up

    Sunday 19 Apr 2009

    Public finance forecasts to be unveiled by Chancellor Alistair Darling on Wednesday are expected to include provisions for more funds to bail out ailing banks and building societies hit by the credit crunch, says the Independent on Sunday.

  • High earners fear pension raid in UK budget

    Friday 17 Apr 2009

    All UK Budget statements are important, but Wednesday’s Budget speech by Alistair Darling is likely to be the most momentous of any since Labour returned to power in 1997. Darling has already conceded he underestimated the severity of the recession in his pre-Budget update last November, and he'll certainly revise down his forecasts for economic growth .

  • US banks: Green shoots or false dawn?

    Friday 17 Apr 2009

    The credit crunch started with US banks; the encouraging results they have posted for the first quarter of 2009 may augur the beginning of its end.

  • Technical Analysis: FTSE - bull talk or bear rally?

    Friday 17 Apr 2009

    Over the past couple of weeks the FTSE has continued to tread water ahead of next week’s budget announcement by the chancellor, albeit at the top end of its recent trading range.

  • Citigroup results beat expectations

    Friday 17 Apr 2009

    Citigroup, one of the US banking giantsat the centre of the credit crunch, has posted a better-than-expected profit after more than a year of losses. First quarter net income came in at $1.59bn compared with a loss of $5.11bn the previous year. Revenue almost doubled to $24.8bn as the group’s performance improved across all regions. Analysts had been expecting turnover of about $22bn.

  • Google makes bigger profits

    Friday 17 Apr 2009

    Last night’s first quarter results from internet search giant Google were well-received, despite the first drop in quarter-on-quarter revenue since flotation.

  • Sony-Ericsson and Toshiba to cut nearly 6,000 jobs

    Friday 17 Apr 2009

    Firms are continuing to deal with the recession by slashing jobs, with mobile phone group Sony Ericsson and Japanese tech giant Toshiba announcing nearly 6,000 job cuts.

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