Banks

Japan breathed a sigh of relief this morning as the G20 summit in Moscow closed with no direct comment on the continuing decrease in the yen or its potential impact. The Nikkei 225 index (NIK:NI225) gained over 2% today as the yen weakened to 94.10 against the US dollar after reaching 92.25 at the close […]

Barclays’ share price (LSE:BARC) jumped over 7.0% by early afternoon as investors responded positively to the bank’s 2012 results and Antony Jenkins’ promised strategic review.  The stock was up 21.25 to 322.75 in early afternoon trading. 2012 Results Quoting Maxwell Smart, Barclays “missed it by that much,” falling just shy of market expectations of £7.07 billion...

Bank axes 3,700 following the announcement of fall in pre-tax profits. UK banking giant Barclays has announced it is axing 3,700 jobs following the announcement its pre-tax profits fell to £246m in 2012. The job losses were announced as part of a strategic review published the bank, which had achieved pre-tax profits of £5.9bn in […]

Monitise (LSE:MONI) CEO Alastair Lukies said in a published statement this morning that, “Monitise’s performance during the six months ended 31 December 2012 saw revenues continue to rise on the previous period with gross margins lifted by the ongoing shift towards growing user generated revenues.” He was commenting on the company’s first half results, that […]

The British economy is off to a “shaky start” in 2013 as businesses around the country became even more pessimistic of the plight of the economy in the next six months, according to a survey conducted by accountancy firm BDO. In a report published earlier today, BDO Optimistic Index continued to fall and reached a […]

Sterling rises as Mark Carney answers questions to UK Parliament. Incoming Bank of England Governor Mark Carney says “flexible inflation targeting” has “proven itself to be the most effective monetary policy”. Answering questions from the UK’s Parliamentary Treasury Select committee Mr Carney said “In my view, flexible inflation targeting, as practiced in both Canada and […]

CEO Ian Gorham explained that investment firm Hargreaves Lansdown has benefited, at least in part, from the dubious schemes of the London banks.  He boldly said that the company’s six month results “demonstrate that a reputable company can, even in this climate, add genuine benefit to the UK economy and public, whilst paying its taxes […]

Option to issue RBS sharesto UK citizens remains “open”. Vince Cable, the UK’s Business Secretary, has argued that government-held Royal Bank of Scotland shares could be divided amongst UK citizens. Speaking in an interview with the BBC Dr Cable said whilst there was “no immediate prospect” of the troubled bank returning to the private sector […]

A week before it releases its full year results for 2012, Barclays plc (LSE:BARC) announced it has set aside an additional £1 billion to cover for the bank’s redress over mis-sold payment protection insurance (PPI) and interest rate hedging products sold to small and medium-size enterprises, UK’s second largest bank said on Tuesday. The bank, […]

What is the major outlook on the Pound Sterling versus the Euro (FX:GBPEUR)? The major outlook is bearish, and apparently there is no way around this bias, for the bear is in power and the bull is morbidly fearful. The fear of the wolf is what will kill the dog. The downwards trendlines show a […]