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 Barclays looking for U.S. retail bank to buy: report(Reporting by Michael Erman, editing by Maureen Bavdek) 2010-03-09 19:50:09  Savings rates fallThe top rate on a one-year bond – a popular fixed term savings product – has fallen from 3.95 per cent to 3.30 per cent. 2010-03-09 19:04:15  Aer Lingus to make 670 job cutsOther staff, whose unions agreed with the cuts, will see 440 voluntary job losses. 2010-03-09 18:48:01 Questor share tips: Hill & Smith weathers the downturnLast's year's results, released yesterday, came in ahead of expectations. Revenues fell by 7pc to £389m, but pre-tax profits rose to £39.7m from £35.1m in 2008 - hitting a record high in one of the toughest years the industry has seen for sometime. This is a credit to the group's cost cutting and cash management drive. 2010-03-09 17:49:07  BAE axes 230 jobs at submarine siteBAE Systems plans to axe up to 230 jobs at a submarine site following a review of its business, the company announced today. 2010-03-09 14:50:23 Chevron to sell refinery, cut 2,000 jobsChevron shares were down 0.6 percent at $74.20 in trading before the market opened. 2010-03-09 14:49:59 25 of the best money saving websitesGroupola is based on a concept known as collective buying power. To get the savings offered by this website, each deal requires an agreed minimum number of participants before the deal goes live. 2010-03-09 13:49:46 UK credit profile has deteriorated - Fitch© Thomson Reuters 2010 All rights reserved. 2010-03-09 11:50:01 China: gold 'unlikely' to be primary investmentGold, which has risen in price for 10 straight years, is 'unlikely' to be a primary investment, Yi Gang, the head of the State Administration of Foreign Exchange, said at a press breifing in Beijing today, Bloomberg reported. 2010-03-09 11:49:08  Long-term jobless to receive home visitsGoodman said: "We know that most people want to work but for a small minority of people not working has become an accepted way of life. We will be taking our services out of the Jobcentre and into the community in a number of deprived estates." 2010-03-09 09:07:54 Eurotunnel profits slumpThe company, which operates the Channel Tunnel and runs vehicle shuttle services, posted profits of just 1.4 million euros (£1.3 million) for 2009, down from 34 million euros the previous year. 2010-03-09 08:53:14 Investment Column: Stay at home with Bovis – it looks cheapBovis 2010-03-09 08:50:19 EADS slumps to loss as A400 fails to takeoffThe company told investors last week that delays on the A400M military transport aircraft it's building for European governments would force it to take a charge of 1.8bn euros. The charges also left EADS, based in both Paris and Munich, nursing an operating loss of 322m euros compared with an operating profit of 2.83bn euros. 2010-03-09 08:49:03 Find the right bank account for youVirgin Money, which already sells credit cards and insurance, will also soon be offering bank accounts, and it is widely expected that Tesco and the Post Office will follow suit. 2010-03-09 06:49:27 Dresdner economist David Owen sues bank for £500kHe was subsequently made redundant and offered a year's salary of £125,000 as a pay-off. He is also claiming he should have received almost twice as large a redundancy payment on the grounds that he was entitled to one month for every year of service. 2010-03-09 06:49:05 Another £20bn of tax rises and spending cuts neededIt estimated that Government borrowing would be around 5pc of gross domestic product in 2014-15, higher than the Treasury's forecast of 4.4pc. PwC said the fiscal gap could be closed through many possible combinations of tax rises and spending cuts starting from 2011-12 and building up to around £20bn a year by 2013-14. 2010-03-09 06:49:04 Fairholme, Pershing to up General Growth investmentBrookfield's plan called for General Growth to sell about $1 billion of assets, as well as about $3.3 billion of new equity. A General Growth spinoff, called General Growth Opportunities, was also supposed to sell $125 million of equity to outside investors, and sell $125 million of equity to Brookfield. 2010-03-09 05:05:09 Vodafone to cut hundreds of UK jobs© Thomson Reuters 2010 All rights reserved. 2010-03-09 02:04:54 Women still missing out on top jobs at world's largest companies2010-03-09 01:50:07 Treasury 'risks damaging shareholders in banks'2010-03-09 01:50:04 UK faces dilemma over bank support"The government will need to be certain of the full standalone viability of the larger banks before it can hope to be confident in reducing the availability of extraordinary support," Moody's said. 2010-03-09 01:49:48 Lords in science investment callBritain's public spending on science has doubled in real terms over the past 10 years to more than £6bn. 2010-03-09 01:04:08 Supermarket sweep: banking at TescoJust what the banks needed. With their reputations battered by accusations of overcharging and misleading customers, and their balance sheets stretched by the credit crunch, along comes Tesco threatening to take them on with a full-service retail bank. 2010-03-09 00:50:32 Europe bars Wall Street banks from government bond salesEuropean countries are blocking Wall Street banks from lucrative deals to sell government debt worth hundreds of billions of euros in retaliation for their role in the credit crunch. 2010-03-08 21:54:52 No guarantee on 2012 lottery cashLand and assets in the Olympic Park are to be sold off after the Games. 2010-03-08 21:48:54 Profile: A really capital chap: Radio supremo Richard Eyre seems almost too nice for the job, but GaRICHARD EYRE has thoughtfully removed his jeans before letting me in. But that is no more than his colleagues have led me to expect: everyone insists on how thoughtful he is. Considerate, they chant as one. 2010-03-08 21:05:31 City minister blames 'lazy' financiers for credit crunchThe City minister Lord Myners blamed "lazy and complacent" financiers for Britain's deepest economic crisis of the post-war era and warned of a fresh downturn unless there were steps to curb market fundamentalism. 2010-03-08 20:54:41 China could ease dollar currency peg says 'Dr Doom'The economist made his predictions ahead of a statement at the weekend by Zhou Xiaochuan, governor of the People's Bank of China, in which he said China should be "very cautious" when making a move. 2010-03-08 20:48:55 Portsmouth administrator confident of getting FA Cup cash"We had a very constructive meeting with the FA last week. We have to write to them and I'm very confident they will be forthcoming with our reward," added Andronikou. 2010-03-08 19:50:14 Rescued banks have not mended their ways, says Commons inquiryMPs found evidence of the banks aggressively targeting customers who have fallen into debt, plaguing them with silent calls from call centres and using other “undesirable practices”. 2010-03-08 19:49:32 British banks given a year's grace on liquidityThe rules are now not expected to be introduced before 2011 after the regulator said its next announcement would be in the final three months of this year. 2010-03-08 19:49:05 UK banks' gilt-buying spree may not materialiseLast October the Financial Services Authority suggested that UK banks might need a total of 620 billion pounds of new liquid instruments. But that was only if banks did not reduce their reliance on short-term wholesale funding. In fact, lenders are shrinking their balance sheets and lengthening their debt maturities. The FSA reckons that if short-term funding needs fall by 20 percent, banks might only need an additional 110 billion pounds. 2010-03-08 18:49:35 LSE sells 9 pct of Turquoise to 3 banksThe platform, launched by investment banks in 2008, is one of dozens of new alternative trading venues known as multilateral trading facilities (MTFs) to have emerged in Europe since new EU regulation opened exchanges to competition in 2007. 2010-03-08 16:50:06 Bermuda's oldest bank buys Leopold Joseph2010-03-08 15:50:16 Inflation: The secret cost of livingSo the dragon of inflation has not been slain after all and we are facing higher interest rates to try to corral it. The main British inflation measure, the Consumer Price Index (CPI), is up 3 per cent year-on-year. That may not sound a lot but it is the highest it has been since we switched from the old way of judging inflation. 2010-03-08 15:50:14 |