Megotiations are still taking place in Athens between the EU, European Central Bank and International Monetary Fund about the details of the Greek rescue plan
Finance ministers from across the eurozone are holding a conference today ahead of a face-to-face meeting on Sunday which is expected to announce the details of a bailout for Greece.
The news [...]
• Barclays first-quarter profits at £1.8bn, 47% up on 2009• BarCap profits up 62%, with 38% of income set for bonuses
Barclays has already set aside a bonus and pay pool worth more than £1.4bn for bankers in its Barclays Capital investment banking arm, after just the first three months of 2010.
The size of the bonus [...]
The Deepwater Horizon oil disaster has killed people, harmed the environment, and has severely damaged BP as a company
The fact that 11 people are presumed dead should have made it obvious that the disaster in the Gulf of Mexico represented a threat to the reputation of BP. It was only today, however, a week after [...]
US attorney’s office move comes two weeks after the Securities and Exchange Commission (SEC) hit the company with a $14bn fraud charge
US federal prosecutors have begun a criminal investigation into Goldman Sachs over allegations that investors who bought complex mortgage-backed securities from the bank were defrauded.
The Manhattan US attorney’s office is reportedly investigating whether Goldman, [...]
Report shows two percentage points could be sliced off economic growth as result of measures forcing banks to build up bigger cushions of capital
Britain’s biggest banks are trying to convince the leaders of the G20 that new rules forcing them to hold billions more pounds of capital could push the UK back into recession.
The warning [...]
German industrial powerhouses BASF, Bayer and Siemens say Europe is slowest to recover from economic downturn
The growing economic chasm between Germany and southern European countries such as Greece was underlined today when industrial powerhouses BASF, Siemens and Bayer reported bigger than expected profits.
The German trio benefited in particular from higher sales in Asia, where economies [...]
• Government in desperate negotiations with EU and IMF• Financial markets welcome imminent deal• Unions call more stoppages and street protests promised
Greece’s embattled government was tonight engaged in desperate negotiations to thrash out what is expected to be the largest bailout in history.
The ruling socialists conducted fierce horse-trading with experts from the EU, European Central [...]
Alfredo Sáenz, chief executive of Spanish bank Santander, says he does not expect Spain to become another Greece
Banco Santander, the largest bank in Europe, moved today to assuage fears of a looming sovereign debt crisis in Spain after Standard and Poor’s (S&P) cut the country’s credit rating.
The Spanish bank’s chief executive, Alfredo Sáenz, said that [...]
Deepwater Horizon disaster sparks investor panic as oil company braces itself for financial cost
Shares in BP plunged 7% today as investors panicked about speculation that the blowout on a rig in the Gulf of Mexico could create an even bigger environmental disaster than the Exxon Valdez tanker spill.
Fund managers and analysts in the City said [...]
Nationwide survey shows house prices have risen for the second month running, pushing annual inflation rate into double figures
House prices rose by 1% in April, pushing the annual rate of inflation into double figures for the first time since June 2007, figures from the UK’s biggest building society showed today.
Nationwide’s latest monthly snapshot of the [...]
