Editor's Picks
Banks to separate retail and investment arms
Monday 12 Sep 2011
British banks should separate their retail banking and investment banking divisions, the government-appointed Independent Commission on Banking (ICB) has said, adding that they should be given more than seven years to implement such reforms. The report was welcomed by the government, which said: “It considers it to be an impressive report and an important step towards a new banking system.”
FX round-up: Euro falls 1.5% against dollar
Monday 12 Sep 2011
The euro skidded to $1.36820 against the dollar on Friday as news of Jürgen Stark's resignation, a member of the executive board and governing Council, sparked a flight to safe haven currencies.
Monday newspaper round-up: ICB, Germany v Greece, Cameron in Russia, whisky exports
Monday 12 Sep 2011
The most sweeping changes to British banking for a generation will land on financiers’ desks this morning when a government-appointed taskforce delivers proposals for structural reforms that will be vigorously fought by the City. In a plan to defuse any future financial crisis that is set to be broadly adopted by the Government, Sir John Vickers’ Independent Commission on Banking will recommend a
Kolar looks to strike gold in India
Friday 09 Sep 2011
Millions of years ago, Australia and India were part of the same landmass; if you look at the world map, you can see that Western Australia would slot nicely into the Bay of Bengal.
US close: Stocks dive on euro worries
Friday 09 Sep 2011
Stocks closed sharply lower after worries over the Greek debt situation returned to haunt the markets.
London close: Stocks dive on euro worries
Friday 09 Sep 2011
The volatility continued heading into the weekend and stocks were nursing hefty losses at the close of play. The resignation of European Central Bank official Juergen Stark brought the Eurozone crisis into focus. Stark, a German, like many of his compatriots is unhappy about the Bank’s policy of buying bonds of troubled eurozone countries such as Spain and Italy.
Sector movers: Miners dragged lower by updates and metals prices
Friday 09 Sep 2011
The miners were out of favour on Friday, dragged lower by some announcements by blue chip metals producers and falling metals prices,
ECB Governor Stark resigns, Germany prepares for Greece
Friday 09 Sep 2011
The European Central Bank (ECB) has just informed of the resignation of Jürgen Stark, a member of the Executive Board and Governing Council, for ‘personal reasons.’ His tenure was expected to run until 31 May 2014.
FTSE 100 Movers: Tullow rockets after discovery
Friday 09 Sep 2011
Good news for Tullow Oil sent its share price soaring after its joint venture with Royal Dutch Shell has made an oil discovery at its Zeadyus exploration well, 150km offshore French Guiana.
VPhase jumps after receiving big order
Friday 09 Sep 2011
Shares in energy-saving products firm VPhase jumped higher on Friday afternoon after the firm received an initial order for 600 of its voltage optimisation devices (VX1).
US open: Obama speech fails to reassure
Friday 09 Sep 2011
US stocks have taken a dive after president Obama’s speech last night failed to shift the focus from ongoing worries over the Eurozone situation. Obama revealed details of a $447bn package to bring down the country’s high unemployment rate, through a mixture of $253bn in tax cuts and $194bn in new spending.
US pre-open: Weak start expected for US stocks
Friday 09 Sep 2011
Underwhelming speeches by President Obama and Federal Reserve chairman Ben Bernanke dampened sentiment on Wall Street overnight and are set to do the same on Friday morning, with futures pointing to an early slide for US stocks.
London midday: Stocks fall after flat start
Friday 09 Sep 2011
Stocks have eased slightly as nerves set in ahead of this weekend’s meeting of the G7 grouping of industrialised countries.
Anglo American loses interest in Macarthur Coal
Friday 09 Sep 2011
Anglo American, the UK-listed multi-metal mining giant allegedly eyeing up a counter bid for Macarthur Coal, has walked away from the potential acquisition, according to people close to the situation.
Premium tips: Charter, Essar Energy, JD Wetherspoon...
Friday 09 Sep 2011
Swiss investment bank UBS changed its rating on FTSE 250 engineer Charter International back from sell to neutral, just one week after downgrading the stock. "Colfax’s confirmed interest earlier this week, a left of field candidate we had not considered; combined with our conversation with Colfax’s management team makes us reappraise our view of the Charter bid situation. We upgrade back to
What will the uptake be on Greece’s debt exchange offer?
Friday 09 Sep 2011
Perhaps one of the most important things today is the fact that it is the last day by which investors can submit to their home supervisors their indication of interest (nonbinding) in participating in the debt exchange proposed by the Greek government, which some expect to take place in early or mid-October.
Strikes continue at BHP Billiton
Friday 09 Sep 2011
Miner BHP Billiton says that workers at its metallurgical coal mines in Australia plan to continue strikes over the weekend and early next week.
Premium broker snap: UBS upgrades Charter back to neutral after Colfax offer
Friday 09 Sep 2011
Shares in FTSE 250 engineer Charter International were helped higher on Friday after Swiss investment bank UBS changed its rating back from sell to neutral, just one week after downgrading the stock.
Sales decline stabilising at HMV
Friday 09 Sep 2011
Sales are still on the slide at struggling CD and DVD retailer HMV but the rate of decline has stabilised, and there are signs that the change of focus to portable digital products is working.
Tullow Oil and Shell make 'encouraging' discovery
Friday 09 Sep 2011
A joint venture between Tullow Oil and Royal Dutch Shell has made an oil discovery at its Zeadyus exploration well, 150km offshore French Guiana.
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