October 2011 Archive

Europe finally delivers three point solution to euro debt crisis

European Union leaders have agreed to recapitalise eurozone banks, increase the EFSF to €1 trillion, write off 50 per cent of Greek debt and fund a new Greek bailout.

Euro debt crisis solution looks increasingly unlikely

The likelihood of a successful resolution to the euro debt crisis seems faint as crisis engulfs Italy, and France and Germany disagree over the funding of the bailout facility.

Crunch euro debt crisis summit postponed

Wednesday's planned meeting of EU finance ministers has been postponed suggesting that there are continued difficulties in finding a solution to the eurozone's woes.

Sarkozy tells Cameron: 'Stop telling us what to do'

Talks aimed at finding a solution to the euro debt crisis will continue on Wednesday following limited progress at the weekend in which there was a spat between the French PM and David Cameron.

Cameron joins EU leaders for debt crisis talks in Brussels

David Cameron joined 26 other European Union leaders for crisis talks that will focus on deciding how much a new Greek bailout will cost and who will pay for it.

Euro debt crisis deadline talks: How the UK is affected

With talks beginning in Brussels this weekend and scheduled to continue on Wednesday has the time finally arrived for a resolution to the euro debt crisis?

Bank of England: Growth for rest of 2011 will be 'close to zero'

The minutes from the Bank of England's Monetary Policy Committee (MPC) reveal that the expectation is that UK economic growth will be 'close to zero' for the rest of 2011.

BSkyB profits up but Goldman Sachs posts net loss

Two major companies have issued their quarterly results. BSkyB has seen a rise in profits but Goldman Sachs has posted a loss for only the 2nd time in 12 years.

Tesco named top retail sector shares

Shares in retail giant Tesco have been labelled the top high street stock in terms of investment potential.

China offers help in euro debt crisis

China has offered to buy up sovereign debt and assist in recapitalising the eurozone in exchange for an agreement that European countries reform their financial systems.

Protests over global financial system take place in 82 countries

Protests inspired by the Occupy Wall Street movement have taken place in hundreds of cities in 82 countries today including London.

Osborne says Euro leaders must deliver an "impressive" solution

The Chancellor, George Osborne has called on European leaders to deliver an "impressive" solution to the euro debt crisis when they meet in Brussels next weekend.

G20 leaders meet to discuss euro debt crisis

The financial ministers of the world's most powerful economies are meeting to try and sort out the problems in the eurozone.

Inland Revenue targets 6,000 Swiss bank accounts

HM Revenue and Customs is writing to 6,000 UK-based Swiss bank account holders inviting them to come forward with information on their financial affairs.

Almost all of Britain's FTSE 100 firms 'use tax havens'

The majority of the UK's most valuable companies have operations based abroad to legally avoid paying tax, it has been revealed.

Chelsea launches fixed-rate Isa paying more than six times base rate

Chelsea Building Society is to launch a fixed-rate Isa offering a return of 3.30 per cent APR.

More bad economic news: Manufacturing output falls in August

The Office for National Statistics (ONS) reports that manufacturing output fell by 0.3 per cent in August.

Cameron calls on EU leaders to adopt "big bazooka" approach

The Prime Minister, David Cameron has warned European leaders that "Time is short, the situation precarious," on solving the euro debt crisis.

Sarkozy & Merkel in talks over Greek bailout, EFSF and contagion

Nicolas Sarkozy travels to Berlin today to meet Angela Merkel to discuss a further Greek bailout, the expansion of the EFSF and concerns over contagion of the euro debt crisis.

Cameron says he will never let UK join the euro

David Cameron has pledged that the UK will never join the euro on his watch and that the deficit reduction plan "is right and will work."

Global shares rise as EU agrees to protect European banks

European shares this morning followed Wall St's lead last night by posting gains after EU finance ministers agreed that action is required to support European banks.

Eurozone delays next Greek bailout payment

Eurozone leaders have delayed a meeting at which the next €8bn payment to Greece was expected to be agreed, citing concerns that austerity targets have not been met.