News and comment

Welcome to your on-line financial newsletter. This service is regularly updated to bring you news of important developments in financial matters.

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Citywire Investment News

• Standard plans £100m savings drive but cannot confirm jobs are safe
  Wed, 10 Mar 2010 11:58:13 GMT
  (Updated) David Nish, chief executive of Standard Life, said greater use of technology would cut costs but could not confirm there would be no job losses.
  

• Standard Life Investments hits record assets after 67% jump in third party inflows
  Wed, 10 Mar 2010 11:31:09 GMT
  Standard Life Investments continued to show strong growth across a range of international markets, posting a 67% increase in third party net inflows in 2009. ,
  

• Weak manufacturing data throws doubt on pace of the recovery
  Wed, 10 Mar 2010 11:26:40 GMT
  A shock fall in manufacturing data put yet more pressure on the pound.
  

• FC posts £8.7m profit as outflows fall to 2004 levels
  Wed, 10 Mar 2010 11:11:20 GMT
  The asset manager registers a healthy profit as institutional outflows fall to their lowest level since 2004.
  

• UBS launches 69 ETCs on London market
  Wed, 10 Mar 2010 11:06:52 GMT
  In a strong sign that London is becoming a top destination for exchange trade commodities and exhange traded funds providers, the Swiss investment bank lists 69 ETCs on the LSE.
  

Citywire Money, Tax and Property

• The economy is not yet out of danger, Gordon Brown warns
  Wed, 10 Mar 2010 11:49:21 GMT
  You can trust me, prime minister says, as he unveils a pay freeze for doctors, dentists, and hospital consultants.
  

• Consumer groups attack delay to reform of PPI market
  Wed, 10 Mar 2010 10:36:31 GMT
  Consumer bodies urge Financial Services Authority to push ahead with reform of PPI after it announces a further six week consultation period.
  

• Euro equities face long debt struggle in wake of Greek crisis
  Wed, 10 Mar 2010 10:01:00 GMT
  Economists warn that austerity measures in the PIIGS will result in a protracted period of low growth.
  

• Fraudster convicted over £34m ponzi scheme
  Wed, 10 Mar 2010 09:31:34 GMT
  Investment roadshow fraudster Kevin Foster has been convicted of stealing investors' funds after masterminding a £34 million ponzi scheme that ran for nearly a decade.
  

• Treasury confirms Budget date as 24 March
  Wed, 10 Mar 2010 09:05:55 GMT
  The Treasury is expected to confirm Budget day will be 24 March, making a 6 May general election more likely.
  

Citywire News

• Ten years after the tech bubble burst, the sector now looks cheap
  Wed, 10 Mar 2010 12:07:57 GMT
  Tech is still only trading on a multiple of 1.1x the market - despite an anticipated MA boom as the new cycle of technology kicks in.
  

• The economy is not yet out of danger, Gordon Brown warns
  Wed, 10 Mar 2010 11:49:21 GMT
  You can trust me, prime minister says, as he unveils a pay freeze for doctors, dentists, and hospital consultants.
  

• Weak manufacturing data throws doubt on pace of the recovery
  Wed, 10 Mar 2010 11:26:40 GMT
  A shock fall in manufacturing data put yet more pressure on the pound.
  

• Consumer groups attack delay to reform of PPI market
  Wed, 10 Mar 2010 10:36:31 GMT
  Consumer bodies urge Financial Services Authority to push ahead with reform of PPI after it announces a further six week consultation period.
  

• Market Update: Unexpected fall in industrial production halts early advance
  Wed, 10 Mar 2010 10:05:02 GMT
  Banks and miners continue to lend support and Tullett Prebon surge after confirming a bid approach.
  

BBC Business News

• BA strike action talks under way
  Wed, 10 Mar 2010 12:37:04 GMT
  Talks aimed at averting strike action by BA cabin crew are continuing at the TUC, after a deadline was extended.
  

• Cardiff given time over tax bill
  Wed, 10 Mar 2010 11:57:52 GMT
  Cardiff City football club are given eight more weeks by the High Court on Wednesday to settle an outstanding tax bill.
  

• Economic storm not over, says PM
  Wed, 10 Mar 2010 11:54:54 GMT
  Gordon Brown warns of economic storms ahead but vows not to "let you down" as the date of the Budget is announced.
  

• EMI name ex-ITV chief as chairman
  Wed, 10 Mar 2010 11:53:35 GMT
  Troubled record company EMI - whose artists include Coldplay - has named former ITV boss Charles Allen as its new chairman.
  

• Top public servants' pay frozen
  Wed, 10 Mar 2010 11:52:08 GMT
  Thousands of top-earning public sector workers, including judges and NHS managers, will have their pay frozen next year.
  

BBC News

• BA strike action talks under way
  Wed, 10 Mar 2010 12:37:04 GMT
  Talks aimed at averting strike action by BA cabin crew are continuing at the TUC, after a deadline was extended.
  

• Iran attacks US over Afghanistan
  Wed, 10 Mar 2010 12:32:26 GMT
  Iranian President Mahmoud Ahmadinejad says it is the US, not Tehran, that is playing a "double game" in Afghanistan.
  

• Aid agency attacked in Pakistan
  Wed, 10 Mar 2010 12:30:24 GMT
  Gunmen attack the office of a Western aid agency, killing six people and wounding others, the agency and police say.
  

• Berezovsky wins poison libel case
  Wed, 10 Mar 2010 12:14:12 GMT
  Oligarch Boris Berezovsky wins his libel case over claims he was behind the murder of Alexander Litvinenko.
  

• More schools fail Ofsted checks
  Wed, 10 Mar 2010 12:05:40 GMT
  More schools in England are being judged as inadequate in Ofsted's new-style inspections, according to figures just released.
  

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