Ex Prime Minister of Great Britain Gorden Brown who was thrown out by the British voting public last year has been appointed “Advisor to the World Economic Forum” the job is unpaid. A spokesman for the ex PM said the job of the forum is to “stop the next financial crisis” and Mr Brown said [...]
The British Bankers Association (BBA) have lost out in a High Court Battle with the Financial Services Authority today as the Judge Mr Justice Ouseley ruled that the banks wrongly sold Payment Protection Insurance (PPI) to many of their customers. Today’s judgement which may be appealed by the banks means the providers must contact all [...]
The cost of insuring Greece’s debt went through the roof earlier today as the worlds financial markets got a whiff of stories claiming the country’s Finance Ministry had called on the EU for more help. A newspaper had reported that Greece had asked for its debt package to be restructured although the Finance Ministry later [...]
Googles first quarter earnings figures have slightly spooked investors who have already indicated their doubts about the company’s new CEO. Larry Page who appears to be not very keen on Wall Street fixations on quick profits has recently returned to the fold. Although the search engine giant is said to be a major boost to the slowly [...]
Latest figures issued today by The Office of National Statistics indicate an unexpected drop in the inflation rate and shows that the rise in the cost of living has for the time being stalled. The Consumer Price Index (CPI) dropped from 4.4% to 4.0% in the month of February. The Bank of England say the fall is good [...]
The people of Iceland have rejected proposals to repay the debt owed to UK investors in a public vote, it’s the second time the Icelandic public have held a referendum on the subject and the second time it has been thrown out. The first referendum in March 2010 saw 93% of the public reject the tough [...]
Today Portugal were finally forced to ask the EU for financial help, they had repeatedly denied they would follow in the footsteps of Greece and Ireland but after they could not get new austerity moves ratified by the Portuguese Parliament their hand has been forced. Portuguese Prime Minister Jose Socrates made an announcement on Wednesday night [...]
Confidence in World Stock Markets was buoyant today as the prospect for mergers and acquisitions looked more promising and indications of an interest rate in the Eurozone leaked out. The euro hit a 11 month high against the Japanese Yen and a five month high against the Dollar, the single currency slipped back slightly in later trading. Investors [...]
According to reports coming out of the USA today, UK banking giant Barclays Plc are giving serious consideration to moving their global headquarters out of London and relocating to New York. The move is said to be due to Britains requirement for the banks to hold higher capital. The Wall Street Journal is reporting that preliminary [...]
The European Central Bank is said to be close to finalising a plan for longer term security for countries needing financial assistance. The plan will initially take into account the coming stress tests on Ireland’s banks and sources say the plan will be announced in an attempt to dovetail with the results of the tests. The [...]
