News and comment
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Welcome to your on-line financial newsletter. This service is regularly updated to bring you news of important developments in financial matters.
Citywire News
- FishWorks' shares suspended amid financial uncertainty
Wed, 07 Jan 2009 13:59:40 GMT
Fish restaurant group Fishworks has asked for its shares to be suspended as it seeks clarity on its financial position.
- Darling: UK 'far from through' economic crisis
Wed, 07 Jan 2009 12:47:41 GMT
Chancellor Alistair Darling has warned there is no 'magic bullet' for the current crisis and that Britain is 'far from through' the current economic crisis.
- Citywire's best of the web
Wed, 07 Jan 2009 12:43:43 GMT
Financial suicide, Madoff, Wall St in a pickle and other stories from around the web that caught our attention.
- Midday Market: MS shines in dull market
Wed, 07 Jan 2009 12:12:31 GMT
MS provided yet more joy for the retail sector in an otherwise depressed lunchtime market.
- Barclays confirms it is laying off hundreds of staff
Wed, 07 Jan 2009 11:44:28 GMT
Bank to cut more than 400 roles within its IT department.
BBC Business News
- MS to close stores and cut jobs
Wed, 07 Jan 2009 14:00:37 GMT
Marks and Spencer says it plans to close 25 Simply Food stores and two of its regular stores, and cut 1,230 jobs.
- Hundreds to lose jobs at Barclays
Wed, 07 Jan 2009 13:13:12 GMT
Hundreds of IT workers for Barclays Bank are expected to lose their jobs following a review, the bank announces.
- Downloads boost 2008 single sales
Wed, 07 Jan 2009 12:59:26 GMT
The UK singles market grew by 33% in 2008 thanks to a growth in download sales, the BPI says.
- Apprenticeship boost in downturn
Wed, 07 Jan 2009 12:50:10 GMT
The government is pledging more money to create apprenticeships as part of its efforts to tackle the downturn in the economy.
- Home diners boost takeaway profit
Wed, 07 Jan 2009 12:48:05 GMT
Pizzamaker Domino's and baker Greggs are beneficiaries of the current economic conditions.
London Stock Exchange News
- US prosecutors want Madoff jailed over 'jewellery transfers'
Wed, 07 Jan 2009 11:53:28 +0000
US prosecutors have demanded that Bernard Madoff be jailed pending his trial for securities fraud after the scandal-hit Wall Street broker allegedly violated a court order by mailing jewellery and valuables worth more than $1 million (£669,837) to his relatives.
- Mixed fortunes for Asian markets
Wed, 07 Jan 2009 10:48:38 +0000
Stock markets in Tokyo and Hong Kong experienced varying fortunes on Wednesday (January 7th), with the Nikkei 225 hitting a seven-day winning streak while the Hang Seng index slid by 3.4 per cent.
- FSA to lift short selling ban
Tue, 06 Jan 2009 10:16:00 +0000
An emergency ban on the short selling of UK financial stocks could be lifted later this month under new proposals from the Financial Services Authority (FSA).
- Japanese market closes at two-month high
Tue, 06 Jan 2009 09:57:50 +0000
Rising optimism that the incoming administration of US president-elect Barack Obama will enact a new round of economic stimulus measures triggered a wave of buying on Japan's major stock market, with the benchmark Nikkei 225 hitting a two-month closing high on Tuesday (January 6th).
- Wall Street edges higher on tech hopes
Tue, 06 Jan 2009 06:07:10 +0000
US shares overcame a swathe of gloomy economy news to advance in early trading on Tuesday (January 6th), with investors hoping that president-elect Barack Obama's anticipated economic stimulus plan will boost the technology sector.
Mortgage News
- A&L launches fixed rates from 3.49%
Wed, 7 Jan 2009 13:25:43 GMT
Alliance & Leicester has come out with a new mortgage range with rates from 3.49%.
- L&G forecasts big hit to remortgage market
Wed, 7 Jan 2009 12:42:48 GMT
Legal & General is predicting that the remortgage market is set to suffer as the lender records a drop in borrowers choosing to take up SVRs.
- Upheld advert complaint against Experian
Wed, 7 Jan 2009 12:04:27 GMT
The Advertising Standards Authority has upheld a complaint made against credit information company Experian for a misleading radio advert.
- Bank must keep up pressure on lenders
Wed, 7 Jan 2009 11:43:29 GMT
Another 1% cut in the base rate is needed to keep up the pressure on lenders to pass on reductions to hard-pressed borrowers, online mortgage company www.mform.co.uk believes.
- AMI: Interest Rate decision a distraction from lack of liquidity
Wed, 7 Jan 2009 11:41:02 GMT
The Association of Mortgage Intermediaries has today warned that any cut in interest rates this week will not address the real issue in the UK economy.
BBC News
- Boro rule out Downing departure
Wed, 07 Jan 2009 14:10:18 GMT
Middlesbrough chief executive Keith Lamb insists the club will not sell Stewart Downing, or any senior player, during the January transfer window.
- Israel briefly halts Gaza attacks
Wed, 07 Jan 2009 14:06:56 GMT
Israel halts military operations in Gaza for three hours in the first of planned daily suspensions, it says, as ceasefire calls mount.
- Brown boost for apprenticeships
Wed, 07 Jan 2009 14:05:27 GMT
Gordon Brown arrives in Derby as he begins a three-day regional tour, aimed at showing he is heeding economic concerns.
- New man to take office in Ghana
Wed, 07 Jan 2009 14:05:16 GMT
Thousands of people gather in Ghana's capital to see President-elect John Atta Mills sworn in after his narrow poll win.
- MS to close stores and cut jobs
Wed, 07 Jan 2009 14:00:37 GMT
Marks and Spencer says it plans to close 25 Simply Food stores and two of its regular stores, and cut 1,230 jobs.
