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Weak demand sees BAE Systems record loss
21/02/2013
BAE Systems has seen profits fall on the back of weaker demand and a major delay with a deal with Saudi Arabia.
European banks in midst of a 'multi-year transition'
21/02/2013
The third in the series of Evolving Banking Regulation reports from KPMG, analysing the regulatory landscape confronting European banks, concludes that the strategic, operational and change agenda challenges they face have never been greater – and that banks are now in the midst of a multi-year transition.
Mercedes-Benz to pay £2.6 million for breaching competition law
21/02/2013
The Office of Fair Trading (OFT) has announced that Mercedes-Benz and three of its commercial vehicle dealers, Ciceley, Road Range and Enza, have admitted infringing competition law and agreed to pay fines totalling £2.6 million.
Opinion: Is Sterling oversold?
20/02/2013
Sterling is weakening on the back of sentiment which is often the case in the FX markets. Today Sterling weakened against the US dollar and the Euro as it was unveiled in the MPC minutes that three of the members, including the Governor, voted to increase the quantitative easing programme by £25bn to £400bn.
Record losses for Credit Agricole
20/02/2013
Credit Agricole have reported record loss in 2012 following an unexpected tax charge.
Lloyds Banking Group fined £4.3 million for delayed PPI redress payments
19/02/2013
The Financial Services Authority (FSA) has fined three Lloyds Banking Group firms a total of £4,315,000 for failings in their systems and controls that resulted in up to 140,000 customers receiving delayed payment protection insurance (PPI) redress. The three firms are Lloyds TSB Bank Plc, Lloyds TSB Scotland Plc and Bank of Scotland plc (together, LBG).
Best ever financial year for Ferrari in 2012
19/02/2013
In 2012 Ferrari posted record results in its best ever trading period in the company’s 66-year history. This fact was confirmed when the Ferrari Board of Directors met under the chairmanship of Luca di Montezemolo to examine the company’s end-of-year results.
State-backed and financial investors to drive 2013 mining deals
18/02/2013
State-backed and financial investors’ appetite for M&A, combined with divestments, will drive a recovery in mining and metals deal volumes and value in 2013, following a slow and patchy year for deals in 2012, according to Ernst & Young.
Japan shares up on weaker yen hopes
18/02/2013
There was a boost for Japanese shares following the decision of G20 finance ministers not to single out Japan for criticism over the recent yen weakness.
Mining giants Anglo American fall to 2012 loss
15/02/2013
Lower commodity prices and a writedown on a key iron ore project have seen Anglo American fall to a pre-tax loss in 2012.
