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Time to let the banks fail

jason — Sat, 20 Nov 2010 00:41:26 +0000

If there’s one thing the financial crisis has made crystal clear now, it’s that it’s time to let the banks fail. There’s no longer any reason why the banking sector, which clearly dragged us into the biggest financial crisis for a century, should therefore be subsidised by the taxpayer in order to simply continue it’s [...]

Original post blogged on b2evolution.

Standard Chartered leads London banks lower

jason — Fri, 19 Nov 2010 22:57:05 +0000

European equities markets were mostly lower Friday on continuing concerns that the debt problems of some European nations could hamper economic recovery, as well as on China’s announcement that it has increased reserve requirements for its banks in order to cool inflation there. The FTSE 100 was 0.62 percent lower to 5,732.83 in London, while [...]

Original post blogged on b2evolution.

IMF-EU officials investigate Ireland’s books

jason — Fri, 19 Nov 2010 14:56:49 +0000

As Ireland looks set to accept a multi-billion euro loan, the International Monetary Fund (IMF) and EU officials have commenced their investigation of Ireland’s bank books. Yesterday, Governor of the Irish central bank, Patrick Honohan, said the country is expected to accept a “very substantial loan”. The news comes as speculation has been mounting all [...]

Original post blogged on b2evolution.

OECD cuts UK economic growth

jason — Fri, 19 Nov 2010 00:30:31 +0000

Influential think tank, the Organisation for Economic Co-operation and Development (OECD) has today revised its growth for the UK economy, as a result of the Coalition Government’s austerity measures, designed to bring down the budget deficit. However, the revision comes as no surprise as experts have been predicting that the harsh spending cuts will undoubtedly [...]

Original post blogged on b2evolution.

Brewer SABMiller up 5 percent on higher profits

jason — Thu, 18 Nov 2010 23:17:11 +0000

European equities markets were higher Thursday on the likelihood that Ireland will get a bailout for its banks to the tune of tens of billions of euros, and after an index of leading indicators was up for a fourth consecutive month in the United States and the US Labor Department reported that fewer Americans filed [...]

Original post blogged on b2evolution.

UK car production up in October

jason — Thu, 18 Nov 2010 16:25:21 +0000

Figures published today by the Society of Motor Manufacturers and Traders (SMMT) revealed a rise in UK car production for the month of October. UK car production rose 6% versus the same month a year ago, the SMMT said with the total number of cars produced at 112,798. For the year-to-date, car production is 31% [...]

Original post blogged on b2evolution.

October public borrowing rises to £10.3bn

jason — Thu, 18 Nov 2010 16:05:20 +0000

The Office for National Statistics (ONS) has today revealed public sector net borrowing totalled £10.3 billion in October – a record high for the month. However, the figure was roughly in line with expectations of a £9.6 billion figure but is up from the £10.1 billion in October last year. The increase comes despite a [...]

Original post blogged on b2evolution.

CML: Mortgage lending remains subdued in October

jason — Thu, 18 Nov 2010 15:45:28 +0000

The Council of Mortgage Lenders (CML) has today reported mortgage lending remained weak in October. 44,000 loans for home purchase were approved with gross mortgage lending totalling £12.4 billion – unchanged from the previous month and 9% lower on year ago levels. It also represented the lowest October figure since 2000. Commenting on today’s figures, [...]

Original post blogged on b2evolution.