Reuters: Business News

Bank report may signal QE wind down

Tue, 10 Nov 2009 20:07:33 +0000

LONDON (Reuters) - Inflation will hit its 2 percent target and growth will return in the medium term, new Bank of England forecasts are expected to show on Wednesday, signalling the economy is ready to be weaned off its stimulus.

QE inflationary, rates could stay low - Tories

Tue, 10 Nov 2009 16:54:47 +0000

LONDON (Reuters) - The Bank of England's stimulus efforts will eventually fuel inflation but the economic outlook means interest rates could stay at record lows for at least a year, the Conservatives said on Tuesday.

Barclays, HSBC - Bad debts may have peaked

Tue, 10 Nov 2009 20:40:53 +0000

LONDON (Reuters) - Britain's top two banks, HSBC and Barclays, signalled bad debts may be past their peak, with HSBC declaring on Tuesday the first improvement for three years in losses on U.S. consumer credit.

Lloyds to cut another 5,000 jobs

Tue, 10 Nov 2009 11:28:16 +0000

LONDON (Reuters) - Bailed-out lender Lloyds Banking Group is to cut a further 5,000 jobs by the end of 2010 as it continues to overhaul its operations and integrate HBOS.

PM plays down bank transaction tax

Tue, 10 Nov 2009 15:53:28 +0000

LONDON (Reuters) - Prime Minister Gordon Brown said on Tuesday banks must be made to act responsibly but that a levy on transactions was only one possible way of achieving this.

Miners, Vodafone peg back FTSE

Tue, 10 Nov 2009 18:36:50 +0000

LONDON (Reuters) - The leading share index ticked down 0.1 percent on Tuesday, ending a four-day winning run, as weakness in miners and Vodafone offset strength in banks, underpinned by a strong update from HSBC .

Apple becomes top phone maker by profits

Tue, 10 Nov 2009 20:58:29 +0000

HELSINKI (Reuters) - Apple overtook Nokia in the third quarter as the cellphone maker generating the highest total operating profit in the industry, research firm Strategy Analytics said on Tuesday.

GM offers Opel workers words, not freedom

Tue, 10 Nov 2009 20:35:04 +0000

RUESSELSHEIM/BERLIN (Reuters) - General Motors Co dashed hopes on Tuesday that Opel would play a greater role within its vast empire and only offered vague assurances that Detroit would lengthen the leash on its rebellious European carmaker.

Sainsbury H1 profit seen up 16 percent

Tue, 10 Nov 2009 19:02:46 +0000

LONDON (Reuters) - J Sainsbury, Britain's third-biggest grocer, is expected to post a 16 percent rise in first-half profit on Wednesday and flag a tougher second half amid falling food price inflation and stiff competition.

A Morgan Stanley star falls in China

Tue, 10 Nov 2009 19:28:22 +0000

SHANGHAI/NEW YORK (Reuters) - In the end, Garth Peterson, a rising star at Morgan Stanley in China, was undone by his pursuit of "guanxi."