September 2011 Archive

European stock markets suffer worst quarter since 2002

The FTSE 100, German Dax and French Cac indexes suffered further big falls today to cap a dreadful quarter and analysts believe more falls are likely.

Germany votes to increase EFSF bailout fund

The German Chancellor, Angela Merkel, has come through a crucial vote on extending the European bailout fund with an overwhelming majority today.

UK will resist EU transaction tax unless it applies globally

The UK Treasury has said that it will not join a financial transaction tax proposed by the European Commission unless it is implemented globally.

Insider's view on UBS rogue trader Kweku Adoboli

Greg Secker, a former trader, gives his view on the UBS scandal and reveals the structures behind the scenes at investment banks that make further rogue trades possible.

Gold: It's not the only precious metal investment option!

Gold has fallen in value in the last few weeks, but that is likely to be temporary. However, there is another precious metal that has outperformed gold in 2011.

Shares rise as investors see hope for euro debt crisis solution

Shares in the UK FTSE 100, German Dax and France's Cac indexes all increased today as traders optimism that a solution to the euro debt crisis will be found rose.

Plan to allow 50% Greek default emerges from IMF meeting

A plan to allow Greece to default on 50% of its debt, extra funds for the euro bailout facility and the strengthening of eurozone banks has emerged from IMF talks this weekend.

IMF: "We will do whatever is necessary to solve the euro debt crisis"

The International Monetary Fund (IMF) said that it will work to secure banks and hinted that European Financial Stability Fund (EFSF) could be given extra funds.

Global economy poised to enter recession

The global economy will enter a double-dip recession unless a comprehensive solution to the European debt crisis is found and acted upon now, say global leaders.

Euro shares stabilise following G20 pledge

Stock markets in Europe have opened with slight gains following a pledge by the G20 to step in and take action to stop the euro debt crisis from escalating.

Global shares plunge on unremitting economic gloom

Stock markets continue to fall in the US, Europe and Asia after gloomy economic pronouncements from the Federal reserve, IMF and now the World Bank.

UK manufacturing orders down in September, CBI says

The manufacturing sector in the UK experienced a drop in order levels this month but expects them to pick up in the coming quarter, it has been revealed.

UBS rogue trader Adoboli remanded in custody until Oct 20th

UBS rogue trader Kweku Adoboli appeared in court today and has been remanded in custody until October 20th when he will return to face a committal hearing.

Retiree sets up own investment intelligence tool

A retired furniture maker who became disillusioned with the state of his pension fund has set up his own investor intelligence tool.

Operation Twist fails to satisfy US and Asian markets

The launch of Operation Twist by the US Federal Reserve has failed to calm global stock markets with many commentators saying the Fed chose the wrong policy.

IMF predicts weak and bumpy global recovery ahead

The International Monetary Fund (IMF) has cut its growth forecast for the UK economy in 2012 to 1.6 per cent, warning that advanced economies face anemic growth levels.

Roubini calls on Greece to return to the drachma

A leading economist, Nouriel Roubini, who successfully predicted the timing and scale of 2008's credit crunch has urged Greece to leave the euro and begin an orderly default.

S&P's Italian downgrade does not affect markets in early trading

The downgrade of Italy's sovereign debt rating does not appear to have affected stockmarkets in early trading this morning.

Obama says tax rises must be a part of US deficit reduction plan

President Obama has outlined his proposals for reducing the US budget deficit, saying that tax revenue has to be a part of the plan and that "this is not class warfare, it's math."

Cable says that debate on more B of E QE stimulus is necessary

Vince Cable has told activists ahead of the Liberal Democrat conference that it is correct that cabinet debated the merits of whether the Bank of England should issue more monetary stimulus into the economy.

Obama to unveil new "Buffett" tax for US citizens who earn more than $1m

The US President, Barack Obama, is set to unveil a new "Buffett Rule" for US citizens who earn more than $1m a year when he makes a key speech tomorrow on how the US will reduce its deficit.

Glazer's aim to control Manchester United by selling shares without voting rights

Manchester United Football Club has been given clearance for a £600 million flotation on the Singapore stock exchange but reports say that two thirds of shares to be issued will exchange voting rights for a higher dividend.

Ken Clarke: World leaders 'paralysed' over financial crisis

Ken Clarke has accused European and US finance ministers of engaging in "short-term politics".

Osborne and Geithner join EU ministers for euro debt crisis talks

The Chancellor, George Osborne and US Treasury Secretary, Timothy Geithner have joined European finance ministers in Poland for crisis talks aimed at finding a solution to the euro debt crisis.