Recent Event Highlights: IMI job cuts help increase profits, Business Bullet: Bernanke, Toyota, Lloyds, Skipton, Northern Rock savers to lose 100pc guarantee in May, Toyota receives US grand jury subpoena, to hand over sensitive documents, Church of England defends disastrous £40m Manhattan property deal, Asda's Mr Bond shows his grit with new five-year plan, and 485 more...
Created by kaos on Oct 26, 2008
Last updated: 03/05/10 at 02:15 AM
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Government to end its 100pc guarantee on deposits in the nationalised bank on
May 24.
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/7305094/Northern-Rock-savers-to-lose-100pc-guarantee-in-May.html
Activist investor Nelson Peltz slashed his stake in Kraft Foods just weeks
before the US food conglomerate's £11.5bn takeover of British confectioner
Cadbury.
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7229025/Nelson-Peltz-cuts-Kraft-stake-over-tie-in-doubts.html
MySpace's chief executive Owen Van Natta has left the music and social
networking site less than a year after joining from rival Facebook to revive
its fortunes.
http://www.telegraph.co.uk/technology/social-media/7211022/MySpace-chief-executive-Owen-Van-Natta-leaves-after-less-than-a-year.html
Kraft's Irene Rosenfeld richly deserves public humiliation for her about-turn
on manufacturing jobs.
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/7200856/Rosenfelds-actions-over-Cadbury-factory-leave-a-bad-taste.html
Mr Kipling-to-Hovis producer Premier Foods is close to wrapping up a deal to
offload the longevity risks of its £2bn Rank Hovis McDougall pension scheme.
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/7175861/Premier-moves-to-offload-pension-risk.html
Businesses remain unconvinced by Labour's rhetoric about supporting the
private sector despite giving the Government praise for its handling of the
financial crisis, the CBI has said
http://www.telegraph.co.uk/finance/yourbusiness/7129710/Business-remains-reluctant-to-back-Labour.html
Kraft Foods has agreed to buy Cadbury in a deal that ends more than 150 years
of independence for the maker of Dairy Milk.
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/7024894/Kraft-agrees-to-buy-Cadbury-for-11.9bn.html
Galiform, the kitchen supplier, said on Tuesday that it expected pretax
profits to be "comfortably above" the top end of market
expectations.
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/6974959/Galiform-Christmas-sales-give-profit-forecast-a-boost.html
Children could be missing out on maintenance payments because a third of separated parents do not know where to go for advice
http://www.telegraph.co.uk/finance/personalfinance/6963373/Parents-missing-out-on-maintenance-payments.html
A leading economist predicts that the Bank could lift rates in March though no
change is expected today.
http://www.telegraph.co.uk/finance/economics/6941328/Bank-of-England-may-raise-interest-rates-as-soon-as-March-leading-economist-predicts.html
US investment bank is reviewing its London operation, a move that could
eventually see departments shifted overseas.
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/6928590/Goldman-Sachs-teams-could-quit-the-City-over-taxes-and-regulations.html
Waking up to a stocking full of coal is probably not the most exciting start
to a Christmas morning. But at least it's got a better chance of increasing
in value by next year than a Wii Fit or a Zhu Zhu Pet.
http://www.telegraph.co.uk/finance/newsbysector/energy/6896140/Old-King-Coal-will-stay-on-the-commodities-throne-for-years.html
Market's rise delivers welcome pre-Christmas cheer, raising hopes that the
global recovery will continue in 2010.
http://www.telegraph.co.uk/finance/markets/6880060/FTSE-100-rides-Santa-Rally-to-15-month-high.html
Quantitative easing has not made borrowing any easier or cheaper for most firms says Tracy Corrigan.
http://www.telegraph.co.uk/finance/comment/tracycorrigan/6535408/Banks-make-hay---everyone-else-must-pay.html
We already know that business minister Lord Myners has been considering studying theology once he's done with finance. I wonder whether he's lining up comedy after that.
http://www.telegraph.co.uk/finance/comment/citydiary/6496235/Myners-toys-with-idea-of-smoking-a-large-one.html
Programming cuts may have meant a reduction of drama on commercial television but behindthescenes dramas in TVland have certainly made up for the loss.
http://www.telegraph.co.uk/finance/comment/6170025/Broadcasters-need-to-focus-on-getting-some-clarity.html
The UK is facing a tipping point over the next few years in its ability to generate enough power to satisfy an everincreasing demand.
http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/6142972/Britain-heading-back-to-the-dark-ages.html
Marks & Spencer will tomorrow launch a new casual clothing range aimed at 30plus women in 100 stores and on its website.
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/6115196/Marks-and-Spencer-launches-new-womens-clothing-range.html
Miner at centre of dispute with China sees profits tumble over 50pc as downturn knocks metal prices.
http://www.telegraph.co.uk/finance/newsbysector/industry/mining/6059496/Rio-Tinto-profits-tumble-as-commodity-boom-falters.html
Shipping group calls on the Government to resolve the row over backdated business rates.
http://www.telegraph.co.uk/finance/newsbysector/transport/6000742/PandO-Ferries-warns-it-may-cut-investment-in-the-UK.html
I've found that simplicity often brings success in business and that the most profitable ideas are uncomplicated solutions to everyday problems writes Duncan Bannatyne.
http://www.telegraph.co.uk/finance/jobs/duncan-bannatyne/5934064/Simplicity-always-succeeds-just-look-at-Dragons-Den-and-Magnamole.html
The changes in VAT during the recession will cost British businesses at least £300 million the Treasury has admitted as a leading businessman said only a "congenital idiot" would implement a rise on New Year's day.
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/5901062/VAT-idiocy-will-cost-businesses-at-least-300-million.html
UK residents can now send broken or unwanted gold jewellery through the mail and receive its cash value.
http://www.telegraph.co.uk/finance/financetopics/recession/5858431/Postal-gold-buying-service-launched.html
Sporting goods retailer Sports Direct has scrapped its dividend after profits fell 91pc.
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/5846003/Ashley-scraps-Sports-Direct-dividend-after-profits-plunge.html
Almost seven in 10 of those yet to stop work are more worried about their retirement prospects than a year ago.
http://www.telegraph.co.uk/finance/personalfinance/pensions/5834720/Over-50s-struggle-to-save-for-retirement.html
The European Union's plan for a new machinery of financial regulation is an "opportunistic" attempt to extend EU power a report by the Adam Smith Institute and the London Business School says.
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5789690/EU-attack-on-City-of-London-is-opportunistic.html
Minimum monthly payments on credit cards could be increased to help people pay off their debts more quickly as part of a shakeup of consumer laws.
http://www.telegraph.co.uk/finance/personalfinance/borrowing/creditcards/5722704/Credit-card-minimum-monthly-payments-to-increase-in-consumer-shake-up.html
The worst of the UK house price falls may be over a Bank of England policymaker and mortgage market expert told MPs on Thursday.
http://www.telegraph.co.uk/property/propertynews/5721554/Bank-of-Englands-Prof-David-Miles-says-worst-house-price-falls-over.html
Marks ? Spencer's boardroom woes have deepened with corporate governance bodies coming out in support of a resolution to split Sir Stuart Rose's joint role as chairman and chief executive.
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/5626354/Marks-and-Spencer-board-woes-deepen.html
Chairman Lloyd Blankfein apologises for bank's part in the "market euphoria" that spurred the financial crisis.
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5554488/Goldmans-Blankfein-issues-apology-as-bank-prepares-to-repay-10bn.html
Investors sell shares in the UK's largest pub operator as it seeks to tackle its mountain of debt.
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/5541444/Punch-shares-slump-on-fundraising.html
The leaders of Brazil Russia India and China meet on Tuesday in a widelywatched summit.
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5540235/BRIC-leaders-prepare-for-debut-summit.html
No longer is the complex business of restructuring collapsing companies maledominated says Helia Ebrahimi.
http://www.telegraph.co.uk/finance/financetopics/profiles/5535419/Heather-Swanston-a-high-flying-woman-with-the-Midas-touch.html
Tracy Corrigan believes in second chances for sinners but there are limits...
http://www.telegraph.co.uk/finance/comment/tracycorrigan/5479305/Andy-Hornby-The-parable-of-the-prodigal-banker.html
Black Sunday for the European left. In spite of a deep recession that seemed at times to shake the confidence in the foundations of free markets socialist and social democrats failed to convince voters in all major countries that they had credible alternatives to steer Europe's economies out of the slump.
http://www.telegraph.co.uk/finance/breakingviewscom/5477079/What-no-socialist-backlash.html
Australia has narrowly managed to avoid tumbling into recession after a stimulus blitz helped the economy expand.
http://www.telegraph.co.uk/finance/financetopics/recession/5434160/Australian-economy-escapes-recession.html
Virgin Atlantic sees profits nearly double but expects tough 2009.
http://www.telegraph.co.uk/finance/newsbysector/transport/5385952/Virgin-Atlantic-profits-defy-downward-trend.html
Oil prices averaged 94 a barrel in 2008. So far this year they've averaged less than 50.
http://www.telegraph.co.uk/finance/comment/liamhalligan/5373670/Western-world-is-faced-with-the-crude-reality-of-rising-oil-prices.html
There is no doubt also that there are a few building societies that made loans in the later boom years that they now wish they hadn't.
http://www.telegraph.co.uk/finance/personalfinance/savings/5367992/Building-societies-remain-well-capitalised.html
The Financial Services Authority has criticised building societies for making "fundamental errors".
http://www.telegraph.co.uk/finance/personalfinance/savings/5367981/Building-societies-had-unsustainable-margins.html
Imperial Tobacco the maker of Lambert ? Butler cigarettes expects sales to benefit in the second half as the recession forces smokers to switch to cheaper brands or roll their own.
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/5312277/Imperial-Tobacco-sees-sales-boost-as-smokers-switch-to-cheaper-brands.html
Investors can have full confidence in US banks following the results of the longawaited financial stress tests Tim Geithner Treasury Secretary and Ben Bernanke Federal Reserve chairman promised as America's 19 leading banks prepared for the publication of the findings.
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5292986/Stress-tested-US-banks-are-safe-from-insolvency.html
IN 2007 Michael Bloomberg the New York mayor asked McKinsey to find out why his city's dominance in finance was diminishing. The answer shocked the US.
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5292785/Right-idea-but-aimed-in-the-wrong-direction.html
How public borrowing sterling and the gilt yield have fared since Labour took office in 1997.
http://www.telegraph.co.uk/finance/financetopics/budget/5189355/The-state-of-the-economy-under-Labour.html
Auditors of Tiscali the UK's fifthbiggest internet service provider have refused to sign off its annual accounts.
http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/technology/5159226/Auditors-question-Tiscalis-future.html
Fiat would walk away from a tieup with US carmaker Chrysler unless unions agreed to a new lower wage deal Sergio Marchionne the chief executive of the Italian motor manufacturer said.
http://www.telegraph.co.uk/finance/newsbysector/transport/5157880/Fiat-chief-executive-Sergio-Marchionne-says-Chrysler-tie-up-off-unless-unions-take-pay-cut.html
Convicted fraudster Bernard Madoff has received the first prison visit from his wife after spending 26 days in his 8ft by 7.5ft cell.
http://www.telegraph.co.uk/finance/financetopics/bernard-madoff/5121529/Look-whos-coming-to-dinner.html
Goldman Sachs chairman Lloyd Blankfein has admitted that parts of Wall Street have been "greedy" over pay and benefits.
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5121307/Goldman-chairman-admits-Wall-St-greed.html
As tipsters go Julian Thick the man responsible for Saturday's Grand National is no longshot.
http://www.telegraph.co.uk/finance/financetopics/profiles/5101098/Julian-Thick-profile-goings-good-for-the-man-holding-Aintrees-reins.html
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