Search This Blog

Sunday 13 May 2012

UK Financial News on 2012-05-13

Yahoo CEO Thompson quits his post
Yahoo CEO Scott Thompson has stepped down, the company confirms, amid accusations a fake computer science degree was included on his CV......

JPMorgan chief admits failures
JPMorgan chief executive Jamie Dimon says he was 'dead wrong' in April to dismiss concerns over the bank's trading strategy......

Hague tells bosses to work harder
Foreign Secretary William Hague has called on bosses to stop "complaining" about the state of the economy and work harder......

Greek parties in last-ditch talks
The Greek president holds coalition talks with leaders of smaller parties after failing to secure a deal with the three main parties......

Rank Group buys 23 Gala casinos
Mecca Bingo owner Rank buys 23 casinos from Gala Coral for 205m in a deal that will make it the biggest UK casino operator......

German minister eyes key EU role
Germany's Wolfgang Schaeuble indicates interest in becoming chairman of the Eurogroup of eurozone finance ministers......

China bank bid to boost economy
China cuts the amount banks have to hold in reserve in a bid to boost its slowing economy......

EU bankers ponder Greek euro exit
European central bankers openly express views on the possibility of Greece leaving the eurozone as the country struggles to form a government......

AUDIO: We need a 'smarter' approach to work
Lesley Batchelor, the director general of the Institute of Exports, has told the BBC the country needs a smarter approach to the way it trades internationally......

VIDEO: Strong pound has its ups and downs
The French and Greek election results, Spain's economic crisis and political uncertainty in the Netherlands mean the euro is at its weakest against the British pound for more than three years......

VIDEO: 'Curry colleges' to help create UK jobs
Curry houses in the UK which are struggling to recruit Asian staff because of tougher immigration rules, are being urged by the government to accept graduates from new "curry colleges"......

VIDEO: Your Money: What to do if bailiffs visit
In this week's Your Money, Declan Curry looks at what to do if you get a visit from bailifs......

Viewpoint: China's global brands challenge
An expert explains why Chinese brands lack global impact.....

Whatever happened to carbon capture?
Carbon capture battles money, politics and technology.....

Crash deals blow to Russian aerospace revival.
May 13 - Russia's United Aircraft president meets recovery workers as Russian forensic experts join Indonesian team identifying plane crash victims. Sunita Rappai reports......

JPMorgan CEO says bank reacted badly to red flags
May 13 - JPMorgan Chase CEO Jamie Dimon says his bank reacted badly to warning flags last month that it had losing trades in derivatives. Deborah Lutterbeck reports.....

Thousands in Spain austerity demos
May 13 - Tens of thousands of activists mark the anniversary of the first Indignados protest with marches against austerity measures. Paul Chapman reports......

Protesters: UK police 'heavy-handed'
May 13 - 'Occupy' activists in London accuse police of heavy-handed tactics after a march to the Bank of England. Paul Chapman reports......

A day of action for the Occupy movement
May 12 - The Occupy movement takes part in a Global Action Day with protests in London, Madrid, Rome and Frankfurt. Deborah Lutterbeck reports.....

Occupy London
May 12 - Occupy protesters demonstrate outside St. Paul's Cathedral and scuffle with police in the City of London. Rough Cut (no reporter narration)......

Occupy Frankfurt takes a stab at capitalism
May 12 - Occupy movement takes part in a Global Action Day with a protest in front of Frankfurt stock exchange. Rough Cut (no reporter narration)......

Bank boss admits 'errors'
May 12 - JPMorgan Chase CEO Jamie Dimon admits the bank made errors of judgement that led to its trading loss of at least two billion dollars. Paul Chapman reports......

Key Left-wing leader Fotis Kouvelis plays down hopes for Greek coalition
The only leader standing between Greece and potentially devastating new elections said he had "very little hope" as he entered last-ditch talks with the country's president yesterday.<img width='1' height='1' src='http://telegraph.feedsportal.com/.....

Setback for Merkel as austerity agenda rejected in Germany's biggest state
Angela Merkel suffered a major blow last night after voters in Germany's biggest region decisively rejected her austerity policies in a defeat that will weaken her on the European stage.<img width='1' height='1' src='http://telegraph.feedsportal.c.....

Back us, dont bash us, business leaders warn Cameron
Business leaders will warn David Cameron that attitude to business must change, after they were told to stop complaining.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1f5174a4/mf.gif' border='0'/><br/>.....

Former civil servant Sir John Elvidge in Edinburgh Airport role
The world's largest infrastructure fund has appointed Sir John Elvidge, a devolutionist ex-civil servant, to head up its first Scottish investment.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1f510c74/mf.gif' .....

Thomas Cook in warning over sales
Thomas Cook has warned investors that any revolt against its planned disposals could result in the company falling into administration.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1f50e827/mf.gif' border='0'/&.....

JP Morgan's Jamie Dimon admits he was 'dead wrong' not to act on warnings
Jamie Dimon has admitted he was "dead wrong" not to act on warnings about the risks his chief investment officer was taking shortly before the bank reported a $2bn trading loss.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/3272.....

Thai food producer CPF mulls Birds Eye bid
Captain Birds Eye, the face of the British frozen foods brand, could be sailing into homes across Asia and Eastern Europe if the latest runner in the race to buy its owner proves successful.<img width='1' height='1' src='http://telegraph.feedsport.....

The treehugger who put ICI back on the world stage
The man who brought a British giant back from the dead tells Ambrose Evans-Pritchard why it is thriving in the BRICs.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1f50e527/mf.gif' border='0'/><br/><.....

Yahoo! chief Scott Thompson resigns in the wake of row over 'fake' degree
Scott Thompson has quit as the chief executive of Yahoo! as the board gave into a raft of complaints from Third Point, a hedge fund activist, which included a discrepency in the internet boss's CV.<img width='1' height='1' src='http://telegraph.fe.....

Wonga's Ice-cool chief Errol Damelin can take the heat
Errol Damelin has run a marathon in temperatures of minus 25C in the Antarctic so should know about battling against the odds in harsh climates. But he seems genuinely surprised at the rough ride given to his internet loans outfit, Wonga.<img widt.....

Britain to share costs of Greek exit
Germany has drawn up plans to make Britain pay a share of the multi-billion pound clean-up costs if Greece is ejected from the euro, risking a clash with Downing Street.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5683.....

Vauxhall close to saving Ellesmere Port
Vauxhall is closing in on an important deal with union leaders over the future of Ellesmere Port - a move that could safeguard thousands of UK jobs.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1f508571/mf.gif'.....

John Timpson: reward workers for attendance - but no sick notes!
The management column. Straight-talking, common sense from the front line.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1f506f16/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.co.....

The final death throes of the euro
The euro crisis is entering its final stages. Economic pain is now interacting with political resistance to produce intense financial pressure. I expect Greece to leave the euro - and perhaps very soon.<img width='1' height='1' src='http://telegra.....

Angela Merkel setback as austerity agenda rejected in Germany's biggest state
Angela Merkel suffered a major blow last night after voters in Germany's biggest region decisively rejected her austerity policies in a defeat that will weaken her on the European stage.<img width='1' height='1' src='http://telegraph.feedsportal.c.....

World edges closer to deflationary slump as money contracts in China
All key indicators of China's money supply are flashing warning signs. The broader measures have slumped to stagnation levels not seen since the late 1990s.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1f50784d.....

Oil price tumbles as global supplies flourish
The oil price has tumbled over the past two weeks as global stocks rose and concerns about eurozone debt and Chinese growth mounted. So, for oil investors, is it a case of sell in May and go away?<img width='1' height='1' src='http://telegraph.fee.....

Greece faces 'moment of truth' as talks stall
Greek political leaders ignored a final plea on Sunday from the president to form a coalition government to avert a repeat election, pushing the debt-stricken nation closer to bankruptcy and a possible exit from the eurozone.<img width='1' height=.....

Week ahead in business and economics: May 14 - May 18
Lloyds Banking Group will hold its annual shareholder meeting in Edinburgh on Thursday.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1f4f8ad5/mf.gif' border='0'/><br/><br/><a href="http://da.f.....

Soldiers may be deployed to protect Italian tax offices
Soldiers may be brought in to protect Italian tax offices and other sensitive sites following an increase in violence as the country struggles through austerity measures.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568.....

Hobbs flouts downturn to post 7pc profit increase
Despite challenging market conditions, UK retailer Hobbs posted a profit rise of almost 7pc in its full-year results today.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1f4ebb73/mf.gif' border='0'/><br/&g.....

Vauxhall holds key talks over future of Ellesmere Port
Vauxhall will hold key talks with unions over the next two weeks which could seal the future of its Ellesmere Port factory after months of uncertainty.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1f4ebb74/mf.g.....

Vauxhall to keep Ellesmere Port factory running
Vauxhall is expected to announce this week that after months of uncertainty its Ellesmere Port factory will remain open, and even expand, as production of its Astra model continues.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/.....

Thai food producer CP Foods preparing Birds Eye bid
Thailand's food, telecommunications and retail giant CP Foods may be preparing a bid for Birds Eye that would value the fish finger producer at 2.5bn.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1f4e36e4/mf.gi.....

UK manufacturing is coming home
Tony Caldeira's warehouse supervisor, Xiao Qi, wants a pay rise.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/1f4d3e91/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/133516.....