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Silver State joins the banking casualties in the US (30 April 04:30) |
| Silver State, the Nevada-based bank that had John McCain's son on its board
until July, has become the eleventh bank in the United States to fail this
year after losses from souring ho... |
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British banks face nationalisation if £400bn bailout fails (10 October 10:57) |
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Senior UK sources at the IMF in Washington conceded tonight that if the
British Government's £400 billion bailout fails, the only option left to
stabilise the economy and financial syst... |
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Alistair Darling calls for world’s financial leaders to take decisive action (10 October 10:57) |
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Finance ministers and central bank chiefs from the West’s leading economies
last night moved to quell the panic and fear ravaging global markets with
moves to shore-up their banking sy... |
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Lehman's debt insurers face $360bn bill$ (10 October 09:34) |
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The insurers of Lehman Brothers’ debt face a claims bill of about $360 billion
($£211 billion) after an auction of the bankrupt US brokerage’s borrowings
determined that they were o... |
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Pressure grows to fast-track $700bn US bailout$ (10 October 09:19) |
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The US Government is facing extreme pressure to accelerate the speed at which
it launches its $700 billion bailout amid fears at the Federal Reserve that
the rescue package will not be i... |
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Rightmove could lose three quarters of agents (10 October 08:43) |
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More than 75 per cent of UK estate agents are threatening to remove properties
currently listed on the UK's biggest property website, according to an
online poll.
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Mortgage problems among homeowners up by 50% (10 October 05:43) |
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The number of homeowners seeking help after falling behind with their mortgage
payments soared by more than 50 per cent over the past three months,
according to figures from a leading de... |
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Renault lines up Pelata as successor to Ghosn (10 October 05:16) |
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Renault, the French carmaker, has created a new position of chief operating
officer for Patrick Pelata, who will become the official number two to
Carlos Ghosn, the president and chief e... |
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Channel 4 abandons digital radio on cost grounds (10 October 04:53) |
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Channel 4 this morning abandoned its plans to launch three digital radio
stations, saying it can no longer afford the £10 million cost of launching
the service as advertising revenues c... |
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Da Vinci hedge fund suspends redemptions (10 October 04:44) |
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A hedge fund that invests in Russia and other former Soviet countries has
today suspended redemptions by investors, citing "extraordinary
economic events".
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Admiral produces 'boringly' good numbers (10 October 03:54) |
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Admiral Group today trumpeted the merits of being a "boring car insurer"
after revealing that it would match or even beat market forecasts for
full-year profits, despite the financial tu... |
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Sugar snaps up 4% of Woolworths (10 October 03:41) |
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Sir Alan Sugar, the irascible host of the BBC show The Apprentice, has
acquired a stake of almost 4 per cent in Woolworths, the embattled high
street retailer.
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Tesco cuts price of petrol 3p to 106p (10 October 03:32) |
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Tesco said today that it was cutting the cost of petrol by 3p a litre as oil
prices fell to their lowest level for a year.
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Tesco cuts price of petrol by 3p a litre (10 October 03:32) |
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Tesco said today that it was cutting the cost of petrol by 3p a litre as oil
prices fell to their lowest level for a year.
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Supermarkets slash 3p off price of petrol (10 October 03:32) |
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Leading supermarkets and oil companies today joined in the scramble to offer
lowest prices at the fuel pumps.
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DTZ appoints former Barclays man as chief (10 October 03:22) |
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Paul Idzik, Barclays' chief operating officer until May this year, is to be
the new group chief executive of DTZ, one of the world's largest commercial
property consultancies.
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Bloodbath in Asian markets as Dow plummets (10 October 08:50) |
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International
crisis meeting |
Emergency
funding released | Timeline
of turmoil
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London bloodbath after panic selling sweeps Asia (10 October 08:50) |
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International
crisis meeting |
Emergency
funding released | Timeline
of turmoil
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FTSE sinks to record low as panic sweeps Asia (10 October 08:50) |
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International
crisis meeting |
Emergency
funding released | Timeline
of turmoil
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New York and London markets plumb new depths (10 October 08:50) |
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International
crisis meeting |
Emergency
funding released | Timeline
of turmoil
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Über-rich count their losses in billions (10 October 04:30) |
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More than £100 billion will be wiped off the personal fortunes of Britain's
wealthiest industrialists and entrepreneurs in the coming months as tumbling
stock markets and sliding proper... |
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Tension rises between Bank of England and Treasury (10 October 04:30) |
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Co-operation is fast becoming the buzzword of international officials battling
to quell global economic upheavals. As ministers from around the world fly
into Washington for crisis talks... |
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HSBC quick to comply with refinancing demands (10 October 04:30) |
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HSBC raised the stakes surrounding the Government's £500 billion banks
recapitalisation programme yesterday by announcing that it had injected £750
million into its UK business.
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Iceland struggles for control as it nationalises Kaupthing (10 October 04:30) |
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Iceland's economic meltdown gathered pace yesterday as the state seized
control of its biggest bank and suspended trading on its stock exchange.
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Fund manager Henderson Group signals slowing of investment activity (10 October 04:30) |
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Henderson Group sent a shudder through London's investment community yesterday
as the manager of £52 billion in funds issued a profit warning and admitted
that retail and institutional ... |
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IMF to make emergency loans available to developing world (10 October 04:30) |
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An emergency funding scheme for countries plunged into economic and financial
distress by the escalating global credit crisis has been activated by the
International Monetary Fund.
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International crisis meeting as Dow Jones plummets below 9,000 (10 October 04:30) |
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Finance ministers and central bank governors from around the world gather in
Washington today to consider further steps to avert global financial
meltdown as the US Treasury draws up pla... |
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World must follow my example, says Gordon Brown (10 October 04:30) |
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Frightened
investors 'pile into property' | Hospice
is latest victim of banking crisis | Iceland
denounces UK's 'unfriendly' action
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Relations in deep freeze as Iceland denounces UK’s ‘unfriendly’ action (10 October 04:30) |
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Britain and Iceland engaged in a full-scale diplomatic spat yesterday as
leaders of the two countries traded angry words about the handling of the
financial meltdown.
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It’s a jungle out there, so put your savings where they’re safe: Botswana (10 October 04:30) |
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If savers are still doubtful about the safety of their money in British banks
they may like to brush up on their Setswana. Confidence in Britain’s banking
system has fallen to such dep... |
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Need to know: A&L takeover ... Aviva protects itself ... Hays shrinks (10 October 04:30) |
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Economics
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Banks still too delicate to start lending again (10 October 04:30) |
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The reaction to the Government’s bank stabilisation package has been what you
might expect for one of those challenging Iranian arthouse movies. Great
reviews but few bums on seats.
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WH Smith’s travelling trade set to beat its high street earnings (10 October 04:30) |
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WH Smith might have been long associated with the high street but it also has
extensive interests in kiosks at railway stations, airports, motorway
service stations and hospitals. So muc... |
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Ten tips to help you tell if the rescue is working (10 October 04:30) |
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Confused by the incomprehensibly big numbers and the baffling jargon of the
City? Distrustful of any words emanating from ministers, financial
regulators and bankers?
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Alistair Darling ‘risking a run on the banks’ by refusing to bail out town halls (10 October 04:30) |
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How much
your council has frozen in Iceland
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New hospice for teenagers can’t pay the builders (10 October 04:30) |
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A charity that runs a hospice for terminally ill children has emerged as the
latest victim of the Icelandic banking crisis.
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Town hall millions may be lost in Iceland (10 October 03:23) |
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Dozens of local councils risk losing hundreds of millions of pounds of
taxpayers’ money held in Iceland’s stricken banks. Town halls across the
country may have to raise council tax ... |
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Airline industry faces 'year of hell' (10 October 01:13) |
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The airline industry is facing a “year of hell” that could be worse than the
downturn after the attacks of 9/11, the industry warned.
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Vodafone moves to control African venture (10 October 01:06) |
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Vodafone has moved close to securing control of South Africa’s leading mobile
phone operator in a deal that will cost the British giant 22.5 billion rand
(£1.4 billion) to complete.
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Bank crisis: IMF makes emergency funding available (09 October 10:06) |
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An emergency funding scheme for countries plunged into economic and financial
distress by the worsening global credit crisis was activated today by the
International Monetary Fund.
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Dexia given state guarantees for borrowing (09 October 09:58) |
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France, Belgium and Luxembourg took a leaf out of Gordon Brown's book as they
pledged to guarantee borrowing by Dexia, the crisis-hit Franco-Belgian local
government lender.
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Premium Bars loses chairman as sales decline (09 October 06:17) |
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Premium Bars and Restaurants (PBR), the operator of the trendy Living Room and
Prohibition bar chains, is to part company with its executive chairman as a
result of the collapse of Dawna... |
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Ireland extends deposit guarantee to foreign banks (09 October 05:08) |
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Ireland today extended its depositor guarantee to the customers of
British-owned banks in the republic.
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Southern Cross shares up on debt claims (09 October 04:46) |
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Shares in Southern Cross, the troubled care homes operator, rose by 4 per cent
in early trading after the company said it would resolve its debt issues by
the end of the month.
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Iceland seizes Kaupthing as meltdown continues (09 October 02:36) |
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Iceland has taken control of its biggest bank, Kaupthing, in a move which puts
most of the Icelandic banking system under state control.
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Greggs warns on profits as it pegs prices (09 October 02:13) |
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Higher energy and ingredient costs have taken a bite out of increasing sales
at Greggs, the bakery chain, which today gave warning that its full-year
profits will be at least £3 million... |
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House price fall is smallest in seven months (09 October 02:03) |
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House prices tumbled for the eight month in a row in September, wiping more
than £2,000 from the value of an average home, new figures from the Halifax
show.
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WH Smith profits boosted by cost savings (09 October 01:46) |
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WH Smith, the UK newspapers and books retailer, defied the credit crunch this
morning by announcing a better-than-expected 15 per cent increase in its
full-year profit to £76 million.
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Hays' fees fall as the City stops hiring (09 October 01:39) |
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Hays, the recruitment consultancy, underlined the poor state of the economy
when it revealed today that its UK and Irish business had shrunk in the last
three months.
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Markets positive in wake of worldwide rate cut (09 October 12:45) |
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The FTSE 100, the UK’s benchmark index, rebounded by 1.48 per cent to 4341.43
shortly after opening this morning in a sign that tentative confidence is
returning to the market followin... |
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