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Archive for July 2nd, 2008Politicians, ECB chief square off as rate hike loomsPosted by UK Economy News
In UK financial news
2Jul 08 Stiff inflation and stagnating growth put European Central Bank independence in the spotlight Wednesday as politicians and ECB president Jean-Claude Trichet crossed swords ahead of an expected interest rate hike.
Read full story Marks and Spencer shares plunge on profits warningPosted by UK Economy News
In UK financial news
2Jul 08 Clothing-to-food retailer Marks and Spencer, regarded as a barometer of consumer sentiment in Britain, saw its share price dive by almost a quarter Wednesday after delivering a gloomy profits warning.
Read full story Comments Off ‘Gas OPEC’ loses steamPosted by UK Economy News
In UK financial news
2Jul 08 The proposal for a "gas OPEC" that would group the world's biggest gas exporters as a cartel took several knocks this week at a leading energy conference as key producers backed away from the idea.
Read full story Comments Off EU regulators clear Nokia’s takeover of NavteqPosted by UK Economy News
In UK financial news
2Jul 08 The European Commission gave the greenlight on Wednesday to Finnish mobile phone giant Nokia's purchase of US digital navigation group Navteq after finding the deal would not hurt competition.
Read full story Comments Off M&S says fuel costs hitting out-of-town shoppingPosted by UK Economy News
In UK financial news
2Jul 08 Marks and Spencer boss Stuart Rose said on Wednesday there were growing signs that rising petrol prices are changing the way Britons shop, with fewer people prepared to drive to out-of-town retail parks.
Read full story Comments Off AstraZeneca bolstered by Seroquel patent victoryPosted by UK Economy News
In UK financial news
2Jul 08 AstraZeneca shares rose nearly 5 percent on Wednesday after the group won a key U.S. patent battle over its second-biggest selling drug, Seroquel, for schizophrenia and bipolar disorder.
Read full story Comments Off Jupiter CEO sees more corporate “explosions”Posted by UK Economy News
In UK financial news
2Jul 08 Housebuilders and financial companies are set for more "explosions" similar to Taylor Wimpey's need to raise capital, Jupiter Asset Management Chief Executive Edward Bonham Carter told Reuters.
Read full story Comments Off Deutsche Bank says it sees profit, no cash injectionsPosted by UK Economy News
In UK financial news
2Jul 08 Deutsche Bank said Wednesday it expected to post a second-quarter profit and would not require extra capital, after shares in the biggest German bank plunged a day earlier on rumours it would issue a profit warning.
Read full story Comments Off Taylor Wimpey unable to raise cashPosted by UK Economy News
In UK financial news
2Jul 08 Taylor Wimpey failed to raise the 500 million pounds it said it needed just two days ago, erasing half its market value and forcing its finance director's resignation.
Read full story Comments Off REITs dive after housebuilder capital warningPosted by UK Economy News
In UK financial news
2Jul 08 Commercial property shares slumped to a four-year low on Tuesday after cash-strapped housebuilder Taylor Wimpey said it had failed to raise the extra capital it needed.
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