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  • Barclays not seeking fresh cash

    Friday 23 Jan 2009

    Barclays has brought forward its annual results in an effort to stem the plunge in its share price and confirmed it is not seeking any more money from either the private sector or the government. In an open letter published this morning, chairman Marcus Agius and chief executive John Varley said the bank has £36bn of committed equity capital and reserves.

  • UK recession to become official today

    Friday 23 Jan 2009

    National output data today is expected to confirm the UK is officially in recession. Consensus forecasts are for a fall of 1.2% in gross domestic product or national output in the three months to December 2008. Output fell by 0.6% in the third quarter and two successive quarters of falling GDP are officially classified as a recession.

  • Troublesome unit sticks knife in BT

    Thursday 22 Jan 2009

    BT’s failure to get a grip on its global services business helped wipe £1.5bn off the telecoms giant’s value on Thursday, with a plunge to its lowest levels since privatisation in 1984, prompting loud calls for the unit to be sold off. The company expects to take a one-off charge of about £340m following financial and contract reviews at BT Global Services (BTGS), its corporate telecom networks and IT business

  • European passengers boost EasyJet

    Thursday 22 Jan 2009

    European passengers boost EasyJet

  • Yen strength strangling Japanese exports

    Thursday 22 Jan 2009

    Yen strength strangling Japanese exports

  • Banking sector gets some respite

    Thursday 22 Jan 2009

    This morning’s open letter from Barclays about the impact of its write downs on its projected 2008 profits has served to buoy the banking sector, after the turmoil of the last 2 weeks.

  • China growth slows to 9%

    Thursday 22 Jan 2009

    The global economic outlook darkened Thursday as figures showed Chinese economic growth slowing to the single digit level.

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