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FSA to lift ban on short selling
The Financial Services Authority (FSA) says it will lift a ban on short selling stocks in 34 companies in the UK banking and insurance sector, on 16th January.
The ban was introduced as a temporary measure in September of last year, when short selling was blamed for a downward spiral in HBOS’s share price, the driving [...]
Source: Finance Markets: Finance News - UK Personal Financial News & Financial Markets
Nationwide house price index down 15.9%
The latest house price figures from the Nationwide show the average cost of a UK home falling by an annual 15.9%, in December.
During the month values took another 2.5% dip, taking the average cost of a property down to £153,048, or £29,000 less than a year earlier.
According to the building society’s index, prices have [...]
Source: Finance Markets: Finance News - UK Personal Financial News & Financial Markets
Coventry launches 4.99% fixed rate mortgage
Coventry Building Society yesterday launched a new range of mortgage products.
Among the products released was a two year fixed-rate mortgage at 4.99%, available at 85% loan to value. A free valuation and remortgage transfer service are included in the deal.
Offset products have also been updated to include a two year 4.49% fixed rate, or [...]
Source: Finance Markets: Finance News - UK Personal Financial News & Financial Markets
Standard Chartered gains in London as HBOS declines
European equities markets were up Monday even though Citigroup (NYSE: C) issued downgrades to “underweight” to several European sectors, including banking and chemicals.
In London, where the FTSE 100 added 0.39 percent to 4,579.64 and the FTSE 250 was up 1.78 percent to 6,745.17, banks were mixed, with Standard Chartered (LSE: STAN; SEHK: 2888) up 6.15 [...]
Source: Finance Markets: Finance News - UK Personal Financial News & Financial Markets
Shift to larger deposits hampers housing market recovery
Financial data provider, Moneyfacts.co.uk, has published new figures showing that 25% of mortgages available in the UK to new borrowers require a deposit of at least 40%.
Those who can only manage a deposit of 5% or less have a mere 21 home loans to choose from, compared with over 1,200 in February of last year. [...]
Source: Finance Markets: Finance News - UK Personal Financial News & Financial Markets
House prices ‘fell 15.9% in 2008′
House prices fell by 15.9% last year, according to the latest survey by the Nationwide building society.
Source: BBC News | Business | UK Edition
Sales fall at Next and Debenhams
Next and Debenhams see sales fall over the Christmas period, as a survey puts UK consumer confidence at a new low.
Source: BBC News | Business | UK Edition
Marks and Spencer cuts 1,000 jobs
Marks and Spencer will announce on Wednesday that it is cutting 1,000 jobs from its workforce of 70,000, the BBC confirms.
Source: BBC News | Business | UK Edition
Toyota to halt Japanese production in February and March
The dismal state of Japan’s car industry has worsened after Toyota Motor Corp announced it is going to halt production at a dozen domestic plants for 11 days in February and March.
Source: Telegraph Finance
House prices fell a record 15.9pc in 2008 says Nationwide
House prices fell 15.9pc during 2008 the biggest annual drop on record new figures from Nationwide showed today.
Source: Telegraph Finance
Simon Wolfson: Next chief who saw slowdown coming
Simon Wolfson chief executive of Next one of Britain’s biggest and bestknown retail chains was ahead of the pack when he warned two years ago the economy was heading for a slowdown.
Source: Telegraph Finance
Next Debenhams warn of tough 2009 but avoid disastrous Christmas
Two of the biggest names on the UK high street warned difficult trading conditions will persist for all of this year but avoided disastrous Christmas sales.
Source: Telegraph Finance
How long will it take you to pay off your credit card?
Try our calculator to find out whether it will take months or years.
Source: Telegraph Finance
A guide to "likeforlike" sales
The key metric that analysts and shareholders will look for when the trading statements come out is “likeforlike” sales.
Source: Telegraph Finance
Waterford Wedgwood failure is bitter pill for winner Sir Anthony O’Reilly
Ireland’s most illustrious son and the country’s first business billionaire is nursing a blow to his ego reputation and pocket.
Source: Telegraph Finance
Next and Debenhams sales over Christmas
Next and Debenhams have this morning become the latest retailers to reveal their Christmas trading figures.
Source: Telegraph Finance
Debenhams: The high street name with a huge pile of debt
Like most British retailers Debenhams is sure to be viewing 2009 with a sense of trepidation as the faltering economy continues to hit the UK high street. But the department store chain’s debt gives it an extra worry.
Source: Telegraph Finance
Germany opts for crass Keysnesianism’
Germany’s LeftRight coalition is battling to overcome sharp differences on a fiscal stimulus package to cushion the worst slump since the 1940s.
Source: Telegraph Finance
2009 a make or break year for UK media
From television to newspapers media groups will need to sharpen their survival skills writes Amanda Amdrews.
Source: Telegraph Finance
UK firms face 45pc fall in earnings says Citigroup
UK companies face a 45pc drop in earnings as the credit crisis chokes the economy this year according to Citigroup. But most of the damage is already reflected in today’s battered share prices.
Source: Telegraph Finance
Bernie Madoff ‘mailing valuable jewellery to family’ from house arrest
The Wall Street fund manager accused of a 50bn fraud should be jailed immediately for breaking bail conditions say prosecutors.
Source: Telegraph Finance
England suffered a financial crisis in the Middle Ages
England suffered a financial crisis in the Middle Ages under the rule of Edward I only to recover some years later according to researchers.
Source: Telegraph Finance
M?S lays off up to 1000 staff as gloom deepens
The high street retailer is cutting staff from its stores and head office after its Christmas trading proved less than spectacular.
Source: Telegraph Finance
AIG hires Ken Moelis to sell its aircraft leasing business ILFC
Insurance giant AIG has hired veteran Wall Street rainmaker Ken Moelis to sell International Lease Finance Corporation ILFC one of the world’s largest aircraft leasing businesses.
Source: Telegraph Finance
Tory tax cuts for pensioners: the maths
How would you fare under David Cameron’s new taxcutting plans? We have gathered some examples of how it might affect people below.
Source: Telegraph Finance
Madoff ’should be jailed’ for posting away 1m jewellery
Bernard Madoff the Wall Street fund manager accused of a 50bn £34m fraud should be jailed immediately for mailing “very valuable” jewellery to his relatives while under house arrest US prosecutors have argued.
Source: Telegraph Finance
FSA to lift ban on shortselling but disclosure rule will remain
A ban on the shortselling of financial shares will be lifted by the Financial Services Authority this month but compulsory disclosure will remain in place for a further six months.
Source: Telegraph Finance
US car makers sink to 16year sales low
The US car industry had its worst year since 1992 with December sales falling by more than a third underlining the dire state of consumer confidence in the world’s largest economy.
Source: Telegraph Finance
Retailer Liberty boosted by Christmas success
Liberty the London department store famous for its mockTudor building behind Regent Street said that sales over December “exceeded expectations” and almost matched last year’s record Christmas.
Source: Telegraph Finance
National Express motors ahead on tip for chairman
Source: Telegraph Finance
Mafia predicted to invest some time in Bernard
Source: Telegraph Finance
FSA extends compulsory disclosure on shortselling
Compulsory disclosure on the shortselling of financial shares will remain in place for a further six months says the Financial Services Authority FSA.
Source: Telegraph Finance
Europe faces energy crisis as Vladimir Putin cuts Russian gas supply
Russian Prime Minister Vladimir Putin orders staterun gas company to cut supplies 20 per cent “starting today”.
Source: Telegraph Finance
‘Strong interest’ in Waterford Wedgwood
Hopes were rising last night that Waterford Wedgwood the china and crystal group could be saved after administrators Deloitte revealed they had met with a potential buyer.
Source: Telegraph Finance
SEC failed to spot Madoff fund’s ‘red flags’
Regulators should have spotted Bernard Madoff’s alleged 50bn £34bn fraud earlier given the “red flags” raised by others according to the chairman of a US Congressional hearing.
Source: Telegraph Finance
Tory spending cuts are right idea but at wrong time
On the same day the Tories unveiled plans for financial crisisrelated tax cuts the Germans chose to embrace “crass Keynesianism” writes Richard Fletcher.
Source: Telegraph Finance
Startups remain resilient despite recession
More people are setting up new business ventures than should be at this stage of the recession economists say.
Source: Telegraph Finance
Willem Buiter warns of massive dollar collapse
Americans must prepare themselves for a steep decline in the dollar a former Bank of England policymaker has warned.
Source: Telegraph Finance
Private equity firm HgCapital sells last dotcom investment
Midmarket private equity firm HgCapital has sold the last of its dotcom investments to MasterCard for 100m £690m.
Source: Telegraph Finance
Tesco cuts the cost of around 3000 staple goods by £100m
Tesco has upped the ante in the ongoing supermarket price war by cutting the cost of around 3000 staple goods by £100m.
Source: Telegraph Finance
Adams Childrenwear axes 850 jobs as it closes 111 stores
Adams Childrenwear the clothing retailer that went into administration on Christmas Eve has axed 850 staff and closed 111 stores.
Source: Telegraph Finance
Three more ways to earn a decent return
Rate alert: Our regular update bringing you the best savings deals.
Source: Telegraph Finance
Phorm plans international expansions of targeted ads
Phorm the controversial online advertising group plans to expand into foreign markets and possibly TV after the successful completion of a largescale trial with BT.
Source: Telegraph Finance
Murder One crime bookshop to close within weeks
One of the most famous bookshops on London’s Charing Cross Road will close within weeks following declining sales brought on by the credit crisis.
Source: Telegraph Finance
Weakness of pound a further blow for retailers
Struggling retailers now face a sharp increase in the price of goods following the fall in the value of sterling.
Source: Telegraph Finance
BT Vision vows to tackle slow takeup
Former Hollywood director Dan Marks tells Rupert Neate BT vision will be a hit despite snailspace growth.
Source: Telegraph Finance
‘Radical feminists’ honoured for women’s enterprise
Two female entrepreneurs once labelled as “radical feminists” have received MBEs in the New Year honours for their support of women’s enterprise.
Source: Telegraph Finance
2008: The year of capital destruction
Diary of a private investor: James Bartholomew’s portfolio did well last year - it lost only 15pc of its value.
Source: Telegraph Finance
Garage owner fights compulsory purchase
One family garage owner has begun the New Year battling to prevent his local council from forcing him to sell up.
Source: Telegraph Finance