London close: Stocks slip as Bernanke disappoints
17th Jul 2012 16:41
- No hints from Bernanke for QE3 - German ZEW index falls for third straight month - G4S tumbles on Olympics contract; CSR rockets after disposal, cash return With Ben Bernanke failing to give any clear indications quickly enough this afternoon [before London markets closed], as regards the possibi
Read moreBroker snap: Barclays still at the top of Investec's list
17th Jul 2012 16:17
In spite of the regulatory troubles that continue to hound lender Barclays, Investec says that the stock remains its favourite in the UK banking sector. The bank's former Chief Operating Officer Jerry del Missier told the Treasury Select Committee that, acting on a phone call from ex-boss Bob Diamo
Read moreTuesday newspaper round-up: BoE, Pound, Drilling
17th Jul 2012 07:12
Bob Diamond was rounded on by his former right-hand-man and three top City regulators today as he was accused of giving the direct instruction to lower the Libor rates at the heart of the rigging scandal. Jerry del Missier, former chief operating officer at Barclays, told the Treasury Select Committ
Read moreLondon close: Global growth concerns weigh on stocks
16th Jul 2012 16:39
- China's Wen dampens sentiment - IMF cuts global growth forecast - G4S, Tullow, Sage and Barclays lead the fallers The FTSE 100 finished flat on Monday as a late burst of buying helped the benchmark index recover some of its earlier losses on the back of concerns over the global economic outlook.
Read moreSector movers: Miners suffer after Wen's comments
16th Jul 2012 15:20
Risk aversion saw the mining, personal goods and banking sectors fall on Monday as concerns over the global economic outlook saw investors flee for safety. Mining peers Kazakhmys, Randgold, Vedanta Resources and Polymetal were among the worst performers on London's benchmark index after Chinese Pre
Read moreFTSE 100 movers: G4S leads fallers
16th Jul 2012 15:16
Security solutions firm G4S tumbled from the off today after saying that it will incur a loss on its Olympics Games contract of 35-50m pounds after failing to provide the number of staff for the event that it had committed to. Chief Executive Officer Nick Buckles said that the company is "deeply dis
Read moreLondon midday: Footsie flat despite heavy falls for G4S and Barclays
16th Jul 2012 11:42
- Chinese economic concerns weigh on sentiment - ECB moves to make senior bondholders share burden - G4S, Barclays, Sage, National Grid lead the fallers on FTSE 100 UK stocks were trading broadly flat by Monday lunchtime, though sentiment had been dampened by concerns over the Chinese economy and c
Read moreMonday newspaper round-up: Capital requirements, Gatwick, Barclays...
16th Jul 2012 07:32
The head of Europe's top banking regulator has raised the bar for lenders' capital requirements, insisting that the nine per cent capital ratio they had to hit as a 'temporary buffer' by June is to become permanent. Andrea Enria, chairman of the European Banking Authority, said "capital conservation
Read moreAnother 11 banks hit by LIBOR scandal
13th Jul 2012 09:21
The LIBOR rate fixing scandal is spreading like wildfire just a few hours after it was revealed that US Secretary of the Treasury Tim Geithner wrote to the Bank of England back in 2008 regarding concerns about the possible distortion of the London Interbank Offered Rate (LIBOR) - the rate at which b
Read moreFriday newspaper round-up: China, Iran, Italy
13th Jul 2012 07:16
China's economy suffered its worst quarter since the global financial crisis after gross domestic product growth shrank to 7.6 per cent, battered by severe weakness in Europe and America. Official figures this morning confirmed widely held fears of a sharp slowdown in the world's second largest econ
Read moreThursday newspaper round-up: Corn, Barclays, Lloyds
12th Jul 2012 07:07
The heatwave that has had much of the United States sweltering this summer is expected to cause severe damage to crop production in the US Midwest and push up food prices across the globe. The US Department of Agriculture cut its estimate for the corn crop yesterday by 12 per cent in response to a d
Read moreLondon close: Footsie flat ahead of FOMC minutes, Glencore up
11th Jul 2012 17:06
- Investors await FOMC minutes - BarCap cuts US growth estimates - Burberry disappoints; 'Glenstrata' in demand - Some say Glencore could benefit from rising grain prices The Footsie had pared early losses to trade broadly flat by the close as markets remained cautious ahead of the release of minu
Read moreLondon midday: Stocks surge after UK production data
10th Jul 2012 11:53
- UK industrial production beats estimates - Eurogroup gives Spain more time - Oil stocks rise after Norwegian lockout prevented London's FTSE 100 index rose strongly on Tuesday morning with resource stocks and banks providing a lift after some better-than-expected UK industrial production data. U
Read moreAsda expands personal finance business
10th Jul 2012 10:59
Asda, the supermarket chain owned by Walmart, has unveiled plans to re-brand and expand its personal finance arm, conveniently taking advantage of widespread disatisfaction with banks following the recent LIBOR scandal and system failure at Natwest. Asda Money will now sell a number of finan
Read moreDiamond gives up 20 million pound pay-off - Update
10th Jul 2012 10:31
- Former Chief Executive turns down £20m deal but keeps £2m annual pay - Barclays' Chairman makes clear Bank of England Governor key in pushing Diamond out - Letter from watchdog reveals 'strained' relationship between Barclays and regulators Barclays' former Chief Executive Bob Diamond has turned
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