Search This Blog

Sunday 10 June 2012

UK Financial News on 2012-06-10

Spain rescue 'a victory for euro'
Spanish PM Mariano Rajoy says a decision by eurozone ministers to help Spain shore up its struggling banks is a "victory for the euro"......

Euro crisis 'killing UK recovery'
The UK's hopes of economic recovery are being "killed off" by the eurozone crisis, the chancellor says, as Spain requests a eurozone loan for its banks......

RBS concerns about Ulster Bank
Sir Philip Hampton, chairman of Royal Bank of Scotland (RBS) has said the disastrous performance of the bank's Irish division, Ulster Bank, is his biggest worry......

Metro Bank to open more branches
Metro Bank, which first opened in London in 2010, plans to expand its business across the South East with another seven branches......

VIDEO: Recession 'made in Downing Street'
The UK's hopes of economic recovery are being "killed off" by the eurozone crisis, the chancellor has warned......

VIDEO: Heathrow third runway U-turn ahead?
Pressure from both inside and outside government is growing for a rethink on aviation policy which opposes a third runway at London's Heathrow Airport......

VIDEO: Single currency 'ending in disaster'
The single currency is "ending in disaster" says City AM editor Allister Heath who said the planned bailout "probably won't be enough" to save Spain and it may have to come back for more money......

VIDEO: Your Money: How savers can find the best deals
In this week's Your Money, Declan Curry looks at how to find the best saving accounts at a time when the Bank of England's official interest rate remains unchanged......

VIDEO: Graduates 'provide economy boost'
A report suggests graduates contribute 10 times more to the economy than what it costs to educate them......

How trouble in the eurozone affects you
Our guide to how eurozone turmoil affects your finances in the UK.....

Give Greece a chance
Small businesses connect to 'sell' the country.....

PM Rajoy says his reforms saved Spain from full rescue
June 10 - Spanish Prime Minister Mariano Rajoy welcomes euro zone finance ministers' agreement to lend Spain up to 100 billion euros. Deborah Lutterbeck reports.....

Chip-based human organs to revolutionize drug development
Jun 10 - Researchers at Harvard's Wyss Institute are developing microchips comprising the cells and functionality of human organs. These organs-on-a-chip represent an advance that could prove revolutionary for pharmaceutical companies who spend billi.....

Spaniards angry over bank bailout
Madrid residents express their frustration over news that the EU will lend Spain 100 billion euros to shore up its banks. Lindsey Parietti reports......

Domestic demons hit China economy
Jun 10 - Figures for May show China's economy suffering drops in domestic prices, output and sales but trade still buoyant. Paul Chapman reports......

Backlash over Spain bailout call
June 10 - Spain's Indignado movement and their supporters protest over Spain's decision to ask for a bailout for its banks. Paul Chapman reports......

A plea for help from Spain
June 9 - Spain's Economy Minister Luis de Guindos says Madrid will ask for assistance for its troubled banks. Deborah Lutterbeck reports......

Taking Bankia to court.
June 9 - Close to a thousand Bankia shareholders announced Saturday that are taking legal action against Bankia, Spain's fourth largest bank. Deborah Lutterbeck reports.....

Quebec takes on tobacco firms
June 9 - The government of Quebec says it's suing tobacco companies for the cost of health-care related to tobacco use. Paul Chapman reports......

Facebook investor "hurt" by IPO
June 8 - David Goldberg is part of a class action lawsuit against Facebook and its bankers, claiming vital sales and profit forecasts were with-held from mom and pop investors like him. Conway G. Gittens reports......

Mining cycle shows tentative signs of a turn
The mining industry is cyclical, so after a boom there will be a bust. But are investors pricing in the end of the cycle too early?<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20360205/mf.gif' border='0'/>&.....

Tesco's performance in UK forecast to slip again
The declining fortunes of Tesco will be highlighted tomorrow when it is expected to report its third consecutive fall in quarterly trading in the UK, while its rival J Sainsbury will publish another set of positive sales figures.<img width='1' hei.....

Vodafone in controversy over its tax bill
Vittorio Colao, the chief executive of Vodafone, saw his pay package more than double from 6.6m to over 14m last year, including more than 12m in bonuses.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20360210/m.....

Bank deals dry up after turmoil in the eurozone
The level of British banking deals - a bellweather for the UK economy - has plummeted by two thirds over the last year, knocked by turmoil in the eurozone.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2035d728/.....

Employers forced to take the role of schoolteacher
More than four in 10 employers are being forced to provide remedial training in English, maths and IT because school-leavers and college students lack basic skills.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/.....

Bank account fraud reaches new heights
Fraud involving current accounts soared to a new peak in the first quarter, it is disclosed in a survey today.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2035d491/mf.gif' border='0'/><br/><br/>.....

Microsoft criticised for obscene dance act at conference
Microsoft is facing a fresh storm of controversy over lewd behaviour after it entertained software developers with a routine by scantily-clad women singing an obscene song.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5.....

Gazprom leads the field in bids for EDF power station
Foreign bidders are heading the queue to buy a gas-fired power station being sold by EDF, the state-owned French utility.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2035d493/mf.gif' border='0'/><br/>.....

Growing fracking industry boosts appetite for guar gum
Halliburton, the world's biggest provider of "fracking" services, has stumbled across a sticky problem - guar gum.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2035d494/mf.gif' border='0'/><br/><br/.....

WPP's car crash with investors 'inescapable'
WPP is heading for a "car crash" showdown with investors over the near 13m pay package of its chief executive Sir Martin Sorrell at its annual general meeting on Wednesday.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/5.....

Banks warn of costs from saver safeguards
Borrowing costs will rise if Government pushes ahead with plans to give savers more protection against bank failures, Chancellor is told.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20360211/mf.gif' border='0'.....

UK's borrowing costs will rise if savers are given more protection
Borrowing costs will rise if the Government pushes ahead with plans to give savers more protection against bank failures, the Chancellor has been told.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2035d496/mf.g.....

Spain reaction: 'This is a rescue for the rich. The poor will only get poorer'
It has become a common sight at Bankia branches across Spain since the banking group became the first last month to declare it needed a massive injection of funds to shore it up.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/327.....

Italy in focus amid fears of contagion
Italy must make more progress with its financial reforms to avoid being targeted by traders looking for the "next in line" for an international rescue after Spain's request for help.<img width='1' height='1' src='http://telegraph.feedsportal.com/c.....

ENRC prepares for stormy meeting with investors
Unease among minority shareholders about the leadership and dealings in mining group ENRC is expected to surface at the group's annual meeting this week.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2035d499/mf.....

How BP's exit plan is changing the Russian energy map
The corporate soap opera of BP's plan to exit its Russian joint venture provides a window onto a wider political drama, writes Emily Gosden<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2035d49a/mf.gif' border='.....

Debt crisis: 100bn bailout could backfire on Spain
Spain's 100bn bank bailout could backfire on Madrid by destabilising public finances and hampering the country's access to capital markets, experts have warned.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2035.....

Debt crisis: Bailout could backfire on Spain
Spain's 100bn bank bailout could backfire on Madrid by destabilising public finances and hampering the country's access to capital markets, experts have warned.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/2035.....

Interview: Declan Collier, chief executive of London City Airport
London must feel like an oasis of calm for Declan Collier. After the abuse he's endured in his home country of Ireland, it would have been a blessed relief to leave the Emerald Isle far behind.<img width='1' height='1' src='http://telegraph.feedsp.....

Spooky parallels between Great Depression and euro crisis
Recent signs of global economic weakness have caused me to muse on the comparison between the world economy now and during the 1930s. The similarities are spooky.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20.....

Virgin Active plans expansion into Asia
Virgin Active is planning to launch in Asia for first time as the health club business shifts focus east in the face of the economic slowdown in Europe.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/203590ed/mf......

London set for mobile coverage on Underground trains
Passengers on the London Underground will soon be able to make mobile phone calls and access email for the first time.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/20358afb/mf.gif' border='0'/><br/><.....

Sir Terry Leahy condemns 'medieval' high streets
Sir Terry Leahy, the former chief executive of Tesco, has called some high streets "medieval", saying they were designed for "a different world".<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/203583db/mf.gif' bo.....

Battersea power station bidder Liew Kee Sin rules plans for a football stadium on the historic site - for now
Malaysian Liew Kee Sin talks about his plans for the historic site.<img width='1' height='1' src='http://telegraph.feedsportal.com/c/32726/f/568300/s/203583de/mf.gif' border='0'/><br/><br/><a href="http://da.feedsportal.com/r/136.....

Europe's democracies must not subcontract their destiny to the Bundebank
Europe has lit the fuse on an economic and financial bomb. The rescue package for Spain cannot plausibly be contained to 100bn once it begins, given the subordination of private creditors and collapse of global confidence in the governing structure o.....