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Archive for July 4th, 2008Moody’s B&B rating cut raises asset quality fearsPosted by UK Economy News
In UK financial news
4Jul 08 Moody's Investors Service's decision to cut Bradford & Bingley's credit rating highlights the level of concern about the quality of assets at Britain's biggest buy-to-let lender, analysts said on Friday.
Read full story Oil prices fall after record highsPosted by UK Economy News
In UK financial news
4Jul 08 Oil prices fell Friday on profit-taking, a day after surging to record highs on the back of a weak dollar and concerns over tight supplies, traders said.
Read full story Comments Off Austrian bankers convicted of massive fraudPosted by UK Economy News
In UK financial news
4Jul 08 In one of the biggest-ever legal cases in Austria, a court on Friday convicted the former chief executive of BAWAG bank and eight others of gambling away 1.72 billion euros (2.7 billion dollars) in speculative investments.
Read full story Comments Off BSkyB mulls $4 billion bid for Spain’s Digital PlusPosted by UK Economy News
In UK financial news
4Jul 08 Pay-TV firm BSkyB is considering a bid of more than 2.5 billion euros (2 billion pounds) for Spanish pay-TV platform Digital+, the Financial Times said on Friday.
Read full story Comments Off Goldman says European banks need to raise 60-90 bln eurosPosted by UK Economy News
In UK financial news
4Jul 08 (Reuters) - Goldman Sachs said the European banks sector needs to raise about 60 billion (47 billion pounds) to 90 billion euros, or withhold one year of dividends, to reach an aggregate Tier I ratio of 9 percent -- a level achieved by European banks that have recapitalized recently.
Read full story Comments Off BHP last to sign iron ore price pact with BaosteelPosted by UK Economy News
In UK financial news
4Jul 08 BHP Billiton has matched takeover target Rio Tinto with a near doubling in contract iron ore prices, ending months of talks and speculation it may get more.
Read full story Comments Off Barratt to cut around 1,000 jobsPosted by UK Economy News
In UK financial news
4Jul 08 House builder Barratt Developments plans to cut around 1,000 jobs as it pushes for cost cuts to endure a rapidly worsening housing market, it said on Friday.
Read full story Comments Off BHP Billiton agrees iron ore price hikePosted by UK Economy News
In UK financial news
4Jul 08 Anglo-Australian miner BHP Billiton said Friday it had agreed to price hikes for its iron ore with China's Baosteel in line with the 80-97 percent increases achieved by rival Rio Tinto last week.
Read full story Comments Off Australia’s Origin to recommend rejection of BG bidPosted by UK Economy News
In UK financial news
4Jul 08 Australia's Origin Energy said Friday it planned to recommended that shareholders reject a 13.8-billion-dollar (13.1 billion US) hostile takeover bid by Britain's BG Group.
Read full story Comments Off TPG ends plan to invest in British bank Bradford & BingleyPosted by UK Economy News
In UK financial news
4Jul 08 Bradford & Bingley said on Friday that US investment group TPG Capital had pulled out of an agreement to buy about one quarter of the struggling British bank.
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