British taxpayers are sitting on a 3.5 billion pound ($5.6 billion) paper profit on its stakes in Royal Bank of Scotland and Lloyds after both swung back to profit, driving their shares higher. Britain’s profit could be more than five times that amount — potentially bringing in much needed income for the cash-strapped UK government….
Hungary hopes to emulate the few countries that have spurned IMF aid and emerge from crisis on their own, but it is much more likely to follow the example of other crisis-hit EU states and be forced back to austerity. It is no Malaysia or Turkey, the first of which rejected the International Monetary Fund’s…
Foreign Exchange Trading – what is that? In fact the procedure is quite easy to understand: You change one currency against another, and profit from the exchange rate.Forex Trading is exiting as the market is always in move and the rates are always changing. You trade currency pairs, and a slight difference in the exchange…
Britain’s top share index was little changed early on Thursday as strong results from insurers were offset by disappointing numbers from Barclays and Unilever By 0811 GMT, the FTSE 100 was 3.01 points, or 0.1 percent, lower at 5,383.15 after it ended 0.2 percent lower on Wednesday. Investors are waiting for an interest rate decision…
Italian fashion house Versace expects to post higher sales in 2010 on the back of its restructuring and China’s growing appetite for luxury goods, its chief executive said. In an interview with Reuters, Gian Giacomo Ferraris said he remained confident about a return to profitability in 2011, thanks to a more efficient distribution network and…
Consumer spending in Britain is likely to remain constrained for the foreseeable future, but any slowdown in demand is likely to be modest, the chief executive of fashion retailer Next told reporters. Simon Wolfson also said in a telephone interview that the group was stepping up spending on standalone homewares stores, where new shops are…
Romania has met IMF and EU conditions for continuing its €20bn bailout programme, offering some reassurance to investors concerned about the country’s deep and prolonged recession. IMF mission chief Jeffrey Franks has said no major policy changes were needed after the latest review of Romania, which has slashed public spending including wages and raised value…
British outsourcer Mouchel Plc says it expects its full year results to be at the lower end of expectations as government spending cuts create a difficult trading environment. Mouchel, which provides maintenance for highways in Britain, said that over the past year it secured £650m ($1bn) of new contracts but a lack of clarity over…
Gold miner Kinross Gold Corp said it will buy the 91 percent of Red Back Mining Inc that it does not already own for around $7bn to create one of the world’s largest gold miners. The company said it will pay around $30.50 Canadian a share in stock and warrants for each Red Back share,…
The two banks showed a dip in investment banking income in the latest quarter, but more than made up for that with lower losses on personal and corporate loans as broad economic conditions improved. Half-year profits for HSBC, Europe’s biggest bank, hit $11.1bn, more than double the $5bn of a year ago and above the…
