Finance

BSkyB adds 5 percent on News Corp bid rumors

2010-03-12T17:57:41Z

Most European equities markets were higher Friday, although the CAC-40 was 0.04 percent lower to 3,927.4 in Paris. The FTSE 100 added 0.15 percent to 5,625.65 in London, while the FTSE 250 gained 0.88 percent to 9,941.56. British Sky Broadcasting Group led gainers on the 100, adding 5 percent on rumors that News Corp (NYSE: NWS) could [...]...(read more)

New mortgage lending plummets

2010-03-12T14:43:15Z

There were 49% fewer house purchase loans approved in January than in December, the Council of Mortgage Lenders (CML) has reported. According to the body, the steep decline “emphatically demonstrates” the impact of the end of the stamp duty holiday, in December. First-time buyers recorded the largest drop among house purchasers: in January, approvals were down to [...]...(read more)

Misery for passengers as BA union unveils strike dates

2010-03-12T11:26:45Z

Talks aimed at averting industrial action at British Airways (BA) collapsed earlier this week and, as a result, Unit has today announced BA cabin crew members will strike for three days from March 20 and for four days from March 27. Last month, BA‘s 12,000 cabin crew members voted to take industrial action over cost-cutting measures, [...]...(read more)

Yup! Buying Green Panda Treehouse!

2010-03-12T10:33:18Z

When I was a kid, I loved to write. At school, I had won writing competitions. Not because I know my grammar or for the use of long and incomprehensible words but because of my creativity. I remember getting 100% for one of my compositions and then, after losing marks for grammar mistakes, ending up [...] Related posts: Financial ramblings Every time I finish a week and I am... Financial Ramblings – Buying Gather Little By Little Blog Edition I finally did it! I now weight 178lbs! While... Why Buying...(read more)

Report reveals “accounting gimmicks” used at Lehman

2010-03-12T09:42:45Z

Accountancy firm Ernst & Young (E&Y) has been criticised in a 2,200-page report over the collapse of Lehman Brothers, and could face legal action as a result. The report has accused E&Y of negligence, while senior management at the bank were said to be involved in “lazy accounting gimmicks” to conceal the fact that the bank [...]...(read more)

Consumers warned 2010 will be difficult

2010-03-12T09:28:50Z

British consumers should expect to face more financial difficulty this year than during 2009, a financial expert has claimed. Richard Perks, director of retail research at Mintel, said it is “obvious” that living costs are going to rise while income is squeezed. The tough times are “really still to come,” Perks said. “That doesn’t necessarily mean we are [...]...(read more)

House sales plummet but prices recover to 2007 levels

2010-03-12T08:52:31Z

Since the start of the year, house sales in England and Wales have fallen dramatically, the BBC reports. New data obtained by the BBC from research-based consultancy, Acadametrics, show January transaction levels down 52% on December, at 36,000. February looks little better with an estimated 40,000 completed sales, although seasonal trends, winter weather, and the end of [...]...(read more)

John Lewis staff share £151m bonus pot

2010-03-11T18:51:33Z

John Lewis Partnership, the renowned employee-owned department store, has revealed its staff will share a bonus pot of £151 million. The announcement came after the 146-year-old group said annual pre-tax profits grew 9.7% to £306.6 million. According to John Lewis chairman, Charlie Mayfield, the company’s 70,000 staff - or partners, as John Lewis refers to them [...]...(read more)

“Blue skies ahead”, say IATA

2010-03-11T18:30:22Z

According to the International Air Transport Association (IATA), the global airline industry is improving, with both passenger and freight numbers expected to grow this year. In January, the industry body said 2009 saw the biggest decline in air passenger traffic since the aftermath of World War II. The global economic downturn had a devastating impact on the [...]...(read more)

Hochschild Mining leads sector lower

2010-03-11T18:18:22Z

European equities markets were lower Thursday after new data from China showed that nation’s inflation hit a sixteen month high in February, causing concerns that China will tighten its monetary policy further. The FTSE 100 was down 0.41 percent to 5,617.26 in London, while the FTSE 250 dropped 0.11 percent to 9,854.44. Most miners saw declines [...]...(read more)

Treacherous weather conditions cost insurers £650m

2010-03-11T18:09:08Z

The Association of British Insurers (ABI) today reported the heavy snowfall earlier in the year cost insurers £650 million in weather-related claims. Between December 18 and January 13, when snow and plummeting temperatures swept the country, there were around 335,000 claims, said the ABI. The majority of the claims came from motorists as a result of the [...]...(read more)

Greece at standstill again in third general strike

2010-03-11T17:52:59Z

Crisis-hit Greece has come to a standstill again today after workers staged the third general strike in as many weeks. The further strike comes after austerity measures to rescue Greece’s debt-stricken economy angered Greek trade unions. Greece is currently taking action to reduce its public deficit from 12% to 8% of GDP this year. The country currently [...]...(read more)

US imports and exports down in January

2010-03-11T17:36:09Z

The Commerce Department today announced a fall in US imports and exports, resulting in an unexpected fall in the trade deficit. According to official figures, exports in January dipped 0.3% to $142.7 billion, with less machinery, agricultural products and civilian aircraft sold. Meanwhile, imports slumped 1.7% in the world’s largest economy, to $180 billion, partly due [...]...(read more)

HSBC reunites customers with £10.4

2010-03-11T13:59:27Z

HSBC has reunited customers with £10.4 million held in lost or forgotten bank accounts. The bank, which started searching out owners for unclaimed funds in September 2008, said over 7,000 customers have been reunited with dormant accounts. The average money in each account was £1,400. People in London are the most forgetful about money left in bank accounts, [...]...(read more)

O2 sets aside £5m for community projects

2010-03-11T13:58:38Z

Mobile phone operator O2 this week announced a £5 million project offering cash-in-hand grants to young people who plan to make a difference in their local communities. The three year programme, Think Big, will allow 13-25 year olds to apply for a £300 grant to fund projects designed to address local problems as identified by young [...]...(read more)