Category Archives: Company News

Company News

Obama comes to U.K

Posted on April 1, 2009 by admin

US President Barack Obama has arrived at Downing Street for a meeting with Prime Minister Gordon Brown ahead of the G20 summit. World leaders are gathering in London to discuss ways to resolve the worst financial crisis since the 1930s.

However, rifts have already begun to emerge, with France threatening to walk away from talks if its demands for stricter financial regulation are not met. The summit takes place amid tight security, with the police warning of “unprecedented” levels of protest. Continue reading →

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Eurozone lowest CP increase on record

Posted on March 31, 2009 by admin

Consumer prices in the eurozone slowed to a record low year-on-year increase of 0.6% in March, down from a 1.2% year on year increase in February, according to the Flash estimate released by Eurostat.

Eurozone inflation rate has never been this slow 1996 when records began. This is just the latest reason for the ECB to cut interest rates on the next monetary policy meeting on Thursday. Continue reading →

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Banks face more questions

Posted on March 19, 2009 by admin

Scottish MPs will question senior executives from Royal Bank of Scotland and Lloyds Banking Group – two of the banks given multi-billion pound bailouts by the government. Continue reading →

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U.k House Price Drop Continues

Posted on March 17, 2009 by admin

The fall in UK house prices gathered pace in January, according to the government’s own house price index. Prices were 11.5% lower than in January 2008, an increase in the 10.2% annual fall seen in December. The price of the average UK property is now down to £195,724, a fall of £26,034 in the past year. Prices have been falling fastest in Northern Ireland, down 14.3%, and are still highest in London, where the average home costs £301,383. Continue reading →

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Barclays Debt Talks

Posted on March 16, 2009 by admin

Barclays have confirmed this morning that they are in talks with the Treasury over its potential participation in the government’s Asset Protection Scheme. Lloyds Banking Group and RBS are already signed up to the scheme. Barclays said that any decision on whether it would participate in the scheme would be based on “the economic merits to shareholders.” Continue reading →

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Markets Remain Muted

Posted on March 12, 2009 by admin

Equity markets remain neutral this morning ahead of retail sales figures and jobless claims due in the US this afternoon. Stocks posted minor rallies yesterday as JP Morgan Chase announced a profit in the first two months of 2009 although risk trends continue to drive international currency exchange rates. Continue reading →

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Rallies exclude Sterling

Posted on March 11, 2009 by admin

Yesterday brought an improvement in risk appetite with the news that Citigroup operated profitably in the two months of 2009. Accompanied by a speech from Ben Bernanke, this news restored market confidence and equity markets rallied which was reflected in currency exchange rates. This rally however has excluded Sterling, which remains weak on the back of unease surrounding Bank of England policy and a sharp decline in industrial production figures. Continue reading →

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Limited risk appetite returns

Posted on March 10, 2009 by admin

European equities have rallied this morning and the US Dollar has declined as markets regain limited appetite for risk. Sterling however, has been excluded from this rally as it remains battered by weak manufacturing and industrial production figures out this morning. Uncertainty over the stability of the UK banking sector is also putting Sterling under pressure. Continue reading →

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U.S Unemployment

Posted on March 9, 2009 by admin

Markets returned to risk aversion on Friday as figures out in the US showed unemployment has reached a 25 year high. The Pound is significantly lower against the US Dollar this morning as the government is set to take control of Lloyds banking group. International equities remain risk averse as the World Bank has predicted the global economy will contract for the first time since WW2 due to the current downturn.
Continue reading →

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Eyes on MPC

Posted on March 6, 2009 by admin

Markets are anticipating the release of interest rate decisions from the Bank of England and ECB this afternoon. Both are expected to make a 0.5% reduction to the current base rate with quantitative easing looking likely for the UK economy in future. It is unclear as yet how this will affect the value of Sterling. Some economists predict added uncertainty will damage the Pound, while others maintain an end to rate reductions could provide support for Sterling. Continue reading →

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