LATEST NEWS
Stay current with our daily news updates - latest financial and economy news is posted on this page at least once daily, so you know what is happening in relation to your money.
 Oil Broker Loses $10 million Due to Rogue Trades03 July 2009 - Xenia Rainey (Which Way To Pay) London oil brokerage firm PVM Futures has lost $10 million after one of its brokers made unauthorised trades. A full investigation is to take place. Both the Financial Services Authority (FSA) and the InterContinental Exchange have been informed of the bad trades – said to be a major contributing factor in Tuesday’s oil price jump. Read More >> |
 US Futures and European Stocks Down02 July 2009 - Xenia Rainey (Which Way To Pay) A report showing that unemployment in the USA is at its highest level since the early 1990s is to be released later today. The speculation caused US index Futures and European stocks to fall. US car sales fell last month leading to a 2.5 per cent fall at Volkswagen AG. Read More >> |
 Bonds to be Issued by IMF01 July 2009 - Xenia Rainey (Which Way To Pay) Emerging market economies China, Russia and Brazil look set to see their aim of greater power within the International Monetary Fund take speed. After months of talks within members of the Fund, around $150 billion of bonds will be issued in a bid to boost funding. Read More >> |
 THE FREEDOM PREPAID CASH CARD OFFERS CARDHOLDERS A FREE VALUE ADDED PAYMENT PROTECTION PACKAGE30 June 2009 - Freedom Eagle Cash MasterCard The recently launched Freedom Eagle Cash MasterCard®, the retail instant issue, fully re-loadable, embossed Prepaid MasterCard card with chip & PIN security can now offer a free value added payment protection package to its cardholders. Read More >> |
 Oil Prices Up on Nigerian Militia Attacks30 June 2009 - Xenia Rainey (Which Way To Pay) Oil is set for its biggest quarterly gain in over a decade as crude oil reached its highest point in eight months. In New York, it rose by 2.6 per cent as the dollar fell and investors looked to commodities in order to hedge against inflation. Read More >> |
 Investment Scheme Fraudster Madoff Faces Sentencing29 June 2009 - Xenia Rainey (Which Way To Pay) Disgraced financier Bernard Madoff faces sentencing in court. The millionaire conman, who allegedly committed fraud to the amount of $50 billion pleaded guilty in March this year. The sentence he receives could be up to around 150 years – which given his 71 years in age means the rest of his life. Read More >> |
 Increase in Oil Market Volatility Thanks to Hedge Funds26 June 2009 - Mark Maffia (Which Way To Pay) What is it like to be an oil trader? The smallest part of the job involves the actual execution of trade. In fact, over half the time is spent gathering information. Read More >> |
 Investor Confidence Up 24 June 2009 - Mark Maffia (Which Way To Pay) The latest Investor Confidence Index showed a level above 100, a high not seen since at least a year. When the reading reaches 100 or above, it shows that investors feel more confident about the state of the markets. Read More >> |
 30-Year Increase for Dividends at FTSE 250 Electronics Company Halma23 June 2009 - Mark Maffia (Which Way To Pay) Those considering investing in shares may consider the bonus of a company that keeps increasing its dividends successfully. Read More >> |
 Public Borrowing Up to Record Levels22 June 2009 - Mark Maffia (Which Way To Pay) We may be heading out of the recession, but the state of the country’s finances are still in a dire state. UK public borrowing hit record highs in May and the Prime Minister seems in no hurry to curb spending habits. Read More >> |
 Inflation still Above Target 19 June 2009 - Mark Maffia (Which Way To Pay) Deflation, the threat that would have meant a tumble into large-scale Depression for Britain's economy, is no longer a worry. Read More >> |
 Bank Regulation and Spending Curbs Cause Clashes18 June 2009 - Xenia Rainey (Which Way To Pay) In a bid to calm Standard & Poor’s, the credit rating agency, Chancellor Alistair Darling yesterday called for the Government to curb its spending. The UK is at risk of losing its top credit rating in the wake of the recession. Indeed, Britain is likely to come top of the list of budget shortfalls in the G7 nations. The Treasury has been forced to raise £220 billion in order to curb tax receipts and if there is no clearer action on debt then the rating from S & P’s – and possibly other rating agencies – may come down. Read More >> |
 Shares in Sainsburys Slump Despite Growth17 June 2009 - Xenia Rainey (Which Way To Pay) Sainsbury’s plans to raise £445m by selling shares and bonds. The money will be used to expand existing stores and enable faster growth for the supermarket giant. But why, given that like-for-like sales were up 7.8 per cent in the 12 week period up to 13th June? Read More >> |
 Emerging Market Economies Meet in Russia16 June 2009 - Xenia Rainey (Which Way To Pay) In March this year the G20 had their last summit meeting. Now it is the turn of emerging nations Brazil, Russia, India and China to meet in Yekaterinburg in Russia. The four member states were named BRIC in 2001 by US bank Goldman Sachs, who wanted to describe the increasing power of the emerging market economies. Read More >> |
 US Dollar Up as Reserve Status Remains15 June 2009 - Xenia Rainey (Which Way To Pay) The Russian finance minister Alexei Kudrin has announced that the US dollar would not be replaced as the world's reserve currency. The news has driven the dollar up in value. It was up to 0.7197 euros and up 0.38 pence at £0.6119 - meaning the pound is now worth $1.63438. Read More >> |
 British Pound Strengthens against the Euro12 June 2009 - Xenia Rainey (Which Way To Pay) The pound sterling has reached its highest level against the euro since the beginning of 2009. The currency rose 0.1 per cent to reach 84.98 pence per euro, and then increased to 85.01 at start of trade today. It is the first time since December 2008 that the pound has surpassed 85 pence against the euro. Read More >> |
 End of UK Recession According to Analysts11 June 2009 - Xenia Rainey (Which Way To Pay) Is it the end of the recession or just a dip in the ‘W’? According to a respected analyst, the recession is over in the UK. The country’s economy has seen the bottom of the depression, and thanks to – albeit tiny – return to growth for two consecutive months in April and May, it is the end of the worst economic climate since the end of World War II. Read More >> |
 Oil Price Rises Sharply10 June 2009 - Xenia Rainey (Which Way To Pay) The price of oil has risen sharply and today is at $71.05 a barrel. This is an earlier-than-expected rise in price: just last week, the US Energy Department predicted prices would average at around $67 in the second part of the 2009. The sharp rise has caused many to wonder whether oil will reach $80 within the next few weeks. Read More >> |
 Obama Predicts 600,000 New Jobs09 June 2009 - Xenia Rainey (Which Way To Pay) US President Obama is still upbeat about the future of US jobs – the White House is forecasting 600,00 new jobs to be created. Indeed, the OECD (the Organisation for Economic Co-operation and Economic Development) has been more positive in its latest assessment of the world’s recovery from recession. Read More >> |
 Stocks Futures and Currencies Fall08 June 2009 - Xenia Rainey (Which Way To Pay) European and Asian stocks fell amid a round of speculation, including the news that airlines are set to lose around $9 billion in 2009. US Futures also slipped, the S&P 500 down 0.7 per cent. Read More >> |
 Daily Energy Report - June 4th, 200904 June 2009 - MF Global Crude oil is expected to trade in a mixed direction today. Key support will be at $65.50 from the top of a rising channel pattern, while resistance will be at $67.50 from Tuesday’s low. Read More >> |
 Increase in Illegal Loans as Banks Crack Down03 June 2009 - Mark Maffia (Which Way To Pay) Low income households have been forced to find alternatives to borrow money as high street banks have cracked down on risky lending since the financial downturn. Read More >> |
 FSA Conducts Stress Tests on the UK’s Banks02 June 2009 - Mark Maffia (Which Way To Pay) Stress tests on the UK’s banks are to be carried out by the Financial Services Authority. The move comes after similar tests were carried out in the USA, which brought greater knowledge on the health of the major banks and financial institutions there. Read More >> |
 Credit Card Charges on Increase since Recession01 June 2009 - Mark Maffia (Which Way To Pay) You may have been hit by increased credit card charges as the recession hit the country. Many card providers have increased rate charges by as much as 10 per cent. Read More >> |
 Car Scrap Scheme brings Boost in Sales31 May 2009 - Mark Maffia (Which Way To Pay) The UK has adopted the car scrappage scheme much like the one in central Europe, and so far the Government is happy with the results. Over 35,000 cars have been ordered since the scheme started a month ago. Read More >> |
 Economic Confidence on the Rise 29 May 2009 - Xenia Rainey (Which Way To Pay) Thanks to the steady increase in oil prices, the world's main oil cartel, Opec, decided not to make further output cuts at yesterday's meeting in Vienna. Read More >> |
 Oil Prices Rise and Will Keep Rising Says Saudi Arabia28 May 2009 - Xenia Rainey (Which Way To Pay) Sooner than expected, oil prices have reached new, six-month highs – to over $60 a barrel. The price high came after oil-rich nation and key producer, Saudi Arabia, said the future of the economy there looks set to keep improving. Saudi Arabia, the largest economy of the Arab world, even said that oil prices might reach $80 a barrel by the end of the year. Read More >> |
 Deflation Still Risk for UK27 May 2009 - Xenia Rainey (Which Way To Pay) In April, UK annual inflation fell further according to official figures. Both the CPI (the Consumer Prices Index) and the RPI (the Retail Prices Index) fell in figures released by the Office for National Statistics. Read More >> |
 Euro Plunges on Bad Bank Debts in Germany26 May 2009 - Xenia Rainey (Which Way To Pay) The euro has been very strong in the last few weeks but has now taken a plunge thanks to negative outlooks in the Eurozone. Two Bulgarian banks are facing a downgrade from Moody's rating agency and a report on banks in Germany has also led to a fall in the euro's strength. Read More >> |
 Is Social Lending the New Way to Borrow?25 May 2009 - Xenia Rainey (Which Way To Pay) We’ve experienced Myspace and Facebook as the places to network and catch up with friends around the globe, while eBay allows us to buy and sell pretty much anything across the world. Social networking on the internet has become a huge phenomenon within the last decade and now a new way to lend and borrow money is hitting the market – and it’s called social lending. Read More >> |
 Oil Rich Nations Will Recover First25 May 2009 - Xenia Rainey (Which Way To Pay) According to analysts at Bloomberg, the price of oil will remain above $50 for the rest of the year, and will top $60 in 2010. Leading the oil sector are still the Arab nations, who are likely to recover the financial crisis before the rest of the world. Read More >> |
 Green Shoots Not Present Today says Former Minister 22 May 2009 - Which Way To Pay (Mark Maffia) It is an expression used, and some might say overused, in recent times: "green shoots" - but where does it come from? The phrase was used during the last recession the UK experienced, in the 1990s, by the finance minister of the time, Norman Lamont. Read More >> |
 Moody's Changes Rating for Japan21 May 2009 - Which Way To Pay (Mark Maffia) y's Investor Service, one of the four main rating agencies, has rated Japan's foreign and local currency debt ratings at Aa2, bringing them to the same level. This means that the repayment risk for both is the same. Read More >> |
 Japan Economy Shrinks To Record Levels20 May 2009 - Xenia Rainey (Which Way To Pay) Exports from Japan have fallen to new low levels and the economy there has now shrunk at its fastest rate since 1955. As exports have slowed, so companies have cut production levels and consumers within the country have been spending less. Read More >> |
 US Derivatives Market Shrinks19 May 2009 - Xenia Rainey (Which Way To Pay) Derivatives is a market where gains and losses can be equally vast and since the global downturn has been a less popular place to invest. The Bank for International Settlements has released a report showing that the derivatives market in the USA contracted in the latter half of last year. Read More >> |
 Shares Rise as Lloyds Chairman Quits18 May 2009 - Xenia Rainey (Which Way To Pay) Lloyds chairman Sir Victor Blank has announced he will be stepping down by June 2010 - causing shares in the bank to rise. Read More >> |
 The Euro Heads for Weekly Loss15 May 2009 - Xenia Rainey (Which Way To Pay) A German government report has shown that the economy there - the largest in Europe - has shrunk more than expected in the first quarter. The slump, which came as a surprise to economists, is the lowest since 1970. Economists had predicted a GDP contraction of 3 per cent - but the actual data showed a drop by 3.8 per cent. Read More >> |
 Banks Refuse Compensation for Credit Card Fraud14 May 2009 - Xenia Rainey (Which Way To Pay) A growing number of bank customers are complaining about credit card fraud. The Financial Ombudsman Service (FOS) says they are now handling around 50 cases of alleged fraud each week, and the question over the safety of Chip-and-PIN is being called increasingly into question. While banks are claiming that the system is near-impossible to crack by criminals, more and more customers are coming forward with stories of fraudulent use. Read More >> |
 IMF Calls for Bank Stress Tests in Europe13 May 2009 - Xenia Rainey (Which Way To Pay) Bank stress tests in the USA gave a good indication to investors, bankers and currency markets as to the health of the US banking sector, and now the IMF has called for Europe to follow suit. Read More >> |
 Euro Reaches Seven Week High12 May 2009 - Xenia Rainey (Which Way To Pay) Currency watchers can focus on the Euro today as it reached a seven-week high against the US dollar at close of markets on Monday. Read More >> |
 Risk Appetites on the Rise11 May 2009 - Xenia Rainey (Which Way To Pay) Risk appetites are being whetted in the commodities and stock markets in the aftermath of the US bank stress tests, the results of which were published last Thursday. The US dollar weakened and currencies linked to commodities rose in strength. The S&P 500 closed last week with a gain at nearly the level it reached in January - of 5.9 per cent. Read More >> |
 Futures Stocks Rise on US Bank Results08 May 2009 - Xenia Rainey (Which Way To Pay) Stress tests on banks in the US have overall proved results of "considerable comfort", according to US Federal Reserve chief, Ben Bernanke. This despite some banks, including Citigroup and Bank of America needing to raise a boost of around $75 billion in order to aid their cash reserves. Other banks that need a part of that total boost include Wells Fargo, Morgan Stanley and GMAC. Read More >> |
 ECB cuts rates by 0.25% 07 May 2009 - CaxtonFX In a scheduled announcement, the European Central Bank has cut their interest rate by 0.25% to set a new historic low of 1.00% Read More >> |
 BoE Keeps Rates On Hold At 0.5% 07 May 2009 - CaxtonFX In a scheduled announcement, the Bank of England has kept interest rates on hold at 0.5%. Read More >> |
 Gold Increases Value on Markets07 May 2009 - Xenia Rainey (Which Way To Pay) In 1999, the UK central Bank decided to sell off a hefty chunk of its gold reserves. It was decided that it would be more worthwhile to invest in assets that would be more instantly profitable, such as government bonds. Many European central banks followed suit, and soon the value of the precious metal tumbled. Read More >> |
 Pound Hits Highs and Lows Over ECB Fears06 May 2009 - Xenia Rainey (Which Way To Pay) The European Central Bank meets on Thursday and will likely cut interest rates by another quarter percentage point to 1 per cent, down from 1.25 per cent. The move will come after most other central banks, who have already taken rates to lower-than-low levels. Read More >> |
 Euro Falls as Eurozone Outlook is Revised05 May 2009 - Xenia Rainey (Which Way To Pay) Europe's economic outlook is grim. A sentence oft-used in recent times, but in the last weeks they seemed to show signs of abating somewhat. In Europe, confidence seemed to be improving and there were reports of profits in largescale companies. Read More >> |
 Commodities and Indices Increase Gains01 May 2009 - Xenia Rainey (Which Way To Pay) A partnership between ailing car company Chrysler LLC and Fiat SpA has a chance for success according to US President Barack Obama. Chrysler is beginning a process to protect itself from bankruptcy in an effort to save its business, and the news that disaster may be averted has caused a slight ease of concern over the troubled auto industry. Read More >> |
 Demand for Less Tradeable Currencies Increases30 April 2009 - Xenia Rainey (Which Way To Pay) For this week, the Norway krone has been making gains against the euro, showing an increasing trend for less tradeable currencies in the money market. Read More >> |
 Dollar Weakens for Second Consecutive Day29 April 2009 - Xenia Rainey (Which Way To Pay) The earlier part of this week has been awash with stories of swine flu and its possible thorn in the recent recession ease. Fears have affected the stock and index markets, with shares in travel and leisure taking a knock. However, today it would seem that fears are beginning, already, to abate - at least where the currency and stock markets are concerned. Read More >> |
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