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
- Wednesday Closing Market: shares up again as hope triumphs
Wed, 03 Dec 2008 17:26:12 GMT
UK shares tracked US markets higher as optimism won through despite more bad news.
- New Star creditors take majority stake
Wed, 03 Dec 2008 17:25:31 GMT
New Star's creditors have taken control of 75% of the business in a debt for equity swap aiming to secure its future and take it off the public market.
- Brown beefs up support for those facing repossession
Wed, 03 Dec 2008 16:58:38 GMT
Home owners facing repossession will be allowed to put off paying interest on mortgages for up to two years, Gordon Brown revealed today.
- JJB under pressure as OFT move makes bid less likely
Wed, 03 Dec 2008 15:49:54 GMT
JJB shares are back under pressure as bid hopes fade on stake building investigation.
- BA sees passenger numbers fall
Wed, 03 Dec 2008 15:03:30 GMT
Business and first class travel continue to fall, weighing on BA revenues in November.
London Stock Exchange News
- Banks to face "huge fines" for unfair lending practices
Wed, 03 Dec 2008 12:49:43 +0000
Banks could face unlimited fines if they fail to treat customers fairly under new legislation set to be announced later today (December 3rd) in the Queen's Speech.
- Consumer confidence falls again
Wed, 03 Dec 2008 11:25:36 +0000
Consumer confidence fell again in November as economic worries continued to weigh heavy on Britons' minds, according to the latest figures from Nationwide.
- Nikkei boosted as investors go domestic
Wed, 03 Dec 2008 11:01:59 +0000
The Nikkei index posted a 1.8 per cent rise in Tokyo on Wednesday as investors looked to insulate themselves from global economic turbulence with shares that rely on domestic demand for growth, reports say.
- Jobs market collapsing at "breakneck speed"
Wed, 03 Dec 2008 10:05:48 +0000
Analysts have warned that the UK jobs market is "heading downhill at breakneck speed" after the number of permanent and temporary appointments dropped at the fastest rate on record in November.
- US investors play defence, Europe stages late rally
Wed, 03 Dec 2008 04:57:52 +0000
US markets rose in early trading on Wednesday (December 3rd) as indications of a worsening recession sparked buys of defensive shares, including a number of biotech companies.
BBC Business News
- Cautious outlook hits Stagecoach
Wed, 03 Dec 2008 21:24:01 GMT
Shares in bus and rail group Stagecoach fall 20%, despite it reporting strong half-yearly financial results.
- Infineon posts another large loss
Wed, 03 Dec 2008 21:19:43 GMT
German chipmaker reports a seventh straight quarterly net loss because of falling chip prices and weakening demand.
- Fears grow for US service sector
Wed, 03 Dec 2008 21:18:14 GMT
A measure of the US service sector dropped to a record low in November, showing further weakness in the sector.
- Brown unveils mortgage help plan
Wed, 03 Dec 2008 21:18:02 GMT
Many people made redundant will be able to defer part of their mortgage payments for up to two years, Gordon Brown says.
- US economy 'weaker in all areas'
Wed, 03 Dec 2008 21:13:46 GMT
The Federal Reserve's Beige Book paints a bleak picture of the US economy, with economic activity weakening across the country.
BBC News
- MP raid police 'had no warrant'
Wed, 03 Dec 2008 23:19:19 GMT
Commons Speaker Michael Martin expresses regret as he reveals the police raid on an MP's office took place without a warrant.
- Lebanon's Aoun in Damascus visit
Wed, 03 Dec 2008 22:42:31 GMT
Lebanese Christian leader Michel Aoun, who fought a "war of liberation" against Syrian troops, meets Syria's president.
- So long, farewell von Trapp hotel, say city authorities
Wed, 03 Dec 2008 22:23:59 GMT
The Austrian city of Salzburg block plans to turn the former mansion of the von Trapp family, made famous by The Sound of Music, into a hotel.
- Zimbabwe 'asks for cholera help'
Wed, 03 Dec 2008 22:21:40 GMT
Zimbabwe's government has asked for urgent help to tackle its cholera outbreak, the World Health Organisation says.
- Man Utd 5-3 Blackburn
Wed, 03 Dec 2008 21:58:17 GMT
Carlos Tevez scores four goals to send Man Utd into the Carling Cup semi-finals at Blackburn's expense.
Mortgage News
- Brown unveils 2-year deferment of interest payments for jobless
Wed, 3 Dec 2008 16:23:29 GMT
The Prime Minister Gordon Brown has unveiled a 2-year deferment of mortgage interest payments for hard working borrowers who experience a loss of income.
- Repossessions rumoured to hit 75,000 in 2009
Wed, 3 Dec 2008 15:54:06 GMT
The BBC claims that the Council of Mortgage Lenders estimates that repossessions will hit 75,000 next year.
- Ian Giles to leave Kensington
Wed, 3 Dec 2008 15:22:15 GMT
Ian Giles, director of marketing and communications at Kensington Group, is set to leave the lender at Christmas as part of its recently announced restructure.
- GE to restructure but "committed to finance services"
Wed, 3 Dec 2008 14:11:16 GMT
GE Capital has announced job cuts as part of restructuring in preparation for a tougher market next year.
- Checkmate secures three major contracts
Wed, 3 Dec 2008 14:00:42 GMT
Checkmate Mortgages has secured three major contracts to support its launch and make use of the latest technology and fraud protection products.
