May 2013 Archive

Ethical investments come of age

With trust in the banking sector at an all-time low, more consumers are looking for ethical alternatives. James Howard, from ethical investors Emerald Knight explains.

UK economic recovery hampered by debt overhang, says Fisher

The Bank of England;s director of financial markets, Paul Fisher says that the UK economy will not grow at "normal" rates until it has finished rebalancing.

RBS share sale plan to be announced by government this summer

The Chancellor, George Osborne said the government will set out plans for returning RBS to the private sector this summer following the conclusion of a banking standards report.

Marks & Spencer full year profits fall by 14% to £564 million

Marks & Spencer has announced a big drop in profits as sales from its clothing range struggle. Profits fell by 14 per cent to £654 million.

Ocado shares jump on deal with Morrisons

Shares in Ocado went up strongly after a deal with Morrisons' was announced that adds to the firms online grocery presence.

RBS taxpayer share sale could start within a year

The Chairman of the Royal Bank of Scotland Sir Philip Hampton says he can't guarantee there are no more "skeletons in the cupboard" and further job losses are possible as the company continues restructuring.

Osborne holds firm on austerity amid economic growth signals

The Chancellor, George Osborne told business leaders at the CBI dinner to stay the course on austerity as the economy shows signs of a sustained recovery.

CBI says the UK economy is returning to growth

The CBI says that the UK economy is emerging into growth as it predicts the economy will grow by 1.0 per cent in 2013 and by 2.0 per cent in 2014.

Industrial output rise suggests momentum for UK economic growth

There was a better than expected rise in industrial output adding to the recent good economic news and providing hope that the economy can build on the 0.3 per cent rise in GDP in Q1.

ONS figures show construction sector saved UK from double-dip

Revised figures on the economy from the Office for National Statistics shows that the UK technically avoided a double-dip recession in the six months between October 2011 and March 2012.

Tax authorities join together on global tax avoidance crackdown

Tax authorities from the UK, US and Australia are to join together to investigate tax evasion from some of the wealthiest people in the world after receiving huge amounts of data from a whistle-blower.

Cable says splitting up RBS may increase banking competition

Stephen Hester, the chief executive of the Royal Bank of Scotland says he is desperate to lend to companies but has found few takers for the £20bn it has available.

RBS keen on taxpayer stake sale but Lloyds deal more likely

The sale of part of the 45% taxpayer stake in the Royal Bank of Scotland could start within 12 months though the government may decide the sale of its stake in Lloyds is a better deal.

Bob Diamond says King did not have authority to force him out

Bob Diamond, in is first major interview since he was forced to resign from Barclays over Libor, says he was not in banking for the money and he underestimated the depth of anger against bankers.

Osborne tells Bank of England not to hamper growth

The Chancellor, George Osborne has told the Bank of England's Financial Policy Committee to focus on short-term growth over financial stability to help the economy.

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