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Greece looks to IMF as hope of EU rescue package fades

Fri, 19 Mar 2010 05:00:00 +0000

GREECE is doing everything the IMF (International Monetary Fund) would ask of it, its prime minister said, as the chances of an EU rescue fund began to fade.

Lloyds forecasts return to profit in 2010

Fri, 19 Mar 2010 10:23:42 +0000

Lloyds Banking Group Plc, the UK’s biggest mortgage lender, said it expects to return to profit this year because of lower bad loans than forecast. The shares soared.

FSA to tape traders' mobile calls

Fri, 19 Mar 2010 05:00:00 +0000

TRADERS' mobile-telephone calls may be taped in an effort to stamp out insider trading, according to proposals from the U.K. financial regulator.

Idea of euro protection bid 'sinister and silly'

Fri, 19 Mar 2010 05:00:00 +0000

GERMANY'S suggestion that it may order spies to track speculators targeting currencies is "sinister and silly", according to analysts, who said hedge funds in London and New York would be the targets.

Used carbon credits sold in the EU

Fri, 19 Mar 2010 05:00:00 +0000

ONE of "the biggest trading houses" in the EU bought used UN credits coming from Hungary before it re-entered the bloc's emissions market, intermediary Hungarian Energy Power said yesterday.

Pompey owner snaps up 5pc foothold in Desmond bank

Fri, 19 Mar 2010 05:00:00 +0000

Hong Kong businessman Balram Chainrai, who controls Portsmouth football club, has snapped up a 5pc stake in Rietumu Banka, the Latvian financial institution in which billionaire financier Dermot Desmond (right) has a 33pc stake.

Budget deficit in UK less than expected as tax take climbs

Fri, 19 Mar 2010 05:00:00 +0000

The UK had a smaller budget deficit in February than economists forecast, as tax income climbed at the fastest pace in almost two years, adding to evidence that the economic recovery is strengthening.

EU vows to support Greece as IMF bailout is an option

Thu, 18 Mar 2010 05:00:00 +0000

The European Union's executive reassured Greece yesterday that the bloc was ready to help Athens overcome its financial problems but provided no details of how this would be achieved.

Lenihan told by EU deeper budget cuts still required

Thu, 18 Mar 2010 05:00:00 +0000

IRELAND'S plans to bring spending and borrowing under control may require deeper cuts than previously forecast, the European Commission said yesterday, as it demanded that Finance Minister Brian Lenihan take action on public sector pensions and provide more details about plans for further cuts over the next few years.

Biggest fall in EU building output for a year

Thu, 18 Mar 2010 05:00:00 +0000

EUROPEAN construction output fell the most in more than a year in January, led by declines in Germany and Spain.

IMF: Greece hasn’t sought financial aid at fund

Thu, 18 Mar 2010 15:34:06 +0000

Greece hasn’t sought financial assistance from the International Monetary Fund, said a fund official who reiterated that the IMF stands ready to help the country if asked.

Former Merrill trader gets five-year ban for mismarking positions

Thu, 18 Mar 2010 05:00:00 +0000

A former senior trader at Bank of America's Merrill Lynch unit in London was banned for at least five years from holding a similar position in Britain after he mismarked positions to cover up losses at the company's Dublin office.

Debate over which countries may bail out Greece