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Archive for May 8th, 2008Carphone to focus on broadband after Best Buy dealPosted by UK Economy News
In UK financial news
8May 08 The move by Carphone Warehouse to fold its retail unit into a new company with U.S. firm Best Buy will allow it to focus on broadband and become the largest provider in Britain if it buys the UK arm of Tiscali.
Read full story Best Buy enters Europe with Carphone retail venturePosted by UK Economy News
In UK financial news
8May 08 U.S.-based Best Buy , the world's biggest electronics retailer, is to pay $2.1 billion (1 billion pounds) for half of Carphone Warehouse Group's retail business to take on the European consumer electricals market.
Read full story Comments Off ECB’s Trichet warns again on inflation, high energy pricesPosted by UK Economy News
In UK financial news
8May 08 European Central Bank chief Jean-Claude Trichet stressed again Thursday that inflation was a longer term problem for the 15-nation eurozone and said people should get used to higher energy prices.
Read full story Comments Off Bank of England leaves interest rate unchangedPosted by UK Economy News
In UK financial news
8May 08 The Bank of England on Thursday left its key interest rate unchanged at 5.0 percent, ruling out a back-to-back cut to help stimulate economic growth as inflation remains high amid surging oil prices, analysts said.
Read full story Comments Off European insurers flag tough market in 2008Posted by UK Money News
In UK financial news
8May 08 European insurers Munich Re, Old Mutual, Royal & Sun Alliance and Generali warned on Thursday that market conditions would be tough this year, due to rising competition and turbulent financial markets.
Read full story Comments Off Toyota warns of first profit drop in nine yearsPosted by UK Economy News
In UK financial news
8May 08 Toyota Motor Corp. warned Thursday it expects the first drop in annual profits in nine years because of a weak US economy, a stronger yen and soaring raw material costs.
Read full story Comments Off Oil bears hard to find after market’s record runPosted by UK Economy News
In UK financial news
8May 08 Bears are a rare breed, but not yet extinct in an oil market where prices have doubled in the past 12 months and risen by a quarter this year.
Read full story Comments Off Dollar mixed before European rate decisionsPosted by UK Economy News
In UK financial news
8May 08 The dollar gained against the euro on Thursday but fell against sterling ahead of interest rate decisions from the European Central Bank and the Bank of England, dealers said.
Read full story Comments Off Iberdrola set for British Energy consortium bidPosted by UK Economy News
In UK financial news
8May 08 Spanish energy group Iberdrola would only bid for nuclear generator British Energy as a minority partner in a consortium, an industry source said on Thursday.
Read full story Comments Off UBS to return $35 mln to US state over investmentsPosted by UK Economy News
In UK financial news
8May 08 Swiss banking giant UBS said Thursday it will return some 35 million dollars (23 million euros) to towns and cities in the US state of Massachusetts over investments disallowed under state law.
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