Euro Forex Station

StanChart Chief Steps up Attack on Proposed Banking Reforms

admin — Tue, 09 Mar 2010 15:40:06 +0000

Standard Chartered chief executive—Peter Sands, has stepped up his attack on proposed regulatory reform for the global banking industry, dismissing some key ideas for changes.
He supported measures to make banks hold more high-quality captital and improve their liquidity, but felt other aspects of proposed reform, including the prospect of banks pre-funding compensation schemes, were bad ideas.

Revalued Land Returns Persimmon to Profit

admin — Mon, 08 Mar 2010 12:19:37 +0000

Housebulder Persimmon will start work on 90 new sites after a dramatic swing back into profit was largeloy aided by a revaluation of the land holdings.
UK’s thrid-biggest housebuilder reported 2009 pre-tax profits of £77.8 million, boosted by a £74.8 million writeback in the value of its land assets. It suffered losses of £780 million in the year of 2008.

GM to Invest £1.7bn in European Operation

admin — Sun, 07 Mar 2010 15:32:51 +0000

The US giant—General Motors is to investment £1.7bn in its European car-making operations, including Vauxhall in the UK.
the US company unveiled the package that more than trebles a previous investment pledge. GM will fund new models and products manufacuring for the future five years and it aims to break even within two years.

Drop in Toyota Sales

admin — Sat, 06 Mar 2010 15:31:48 +0000

Toyota’s sales in the US fell to 86240 vehicles in February, down by 11% on the same month in 2009. analysts had expected sales to fall by 26% after several vehicles recalls in recent weeks.
Last month, Ford edged ahead of GM for the very first time ever since 1998 to become the top-selling auto maker in the US . its sales rose up by 43% from the same period last year.
GM posted an 11.5% increase in sales on last year.

Persimmon Recovers

admin — Fri, 05 Mar 2010 15:24:58 +0000

Persimmon has swung back into the black, recording a £78 million profit last year after making a £780 million loss in 2008. The housebuilder indicated that the rebounds in demand and in prices in the second half of 2009 were responsible for the improvement to its full-year figures.
Forward sales of homes were equal to £900 million, which was a 29% increase on its 2008 value. It added that sales and prices had continued to rise in the first eight weeks of 2008.

Lloyds Cuts Anger Union

admin — Thu, 04 Mar 2010 20:35:28 +0000

The United union has criticized Lloyds Banking Group after it announced another 370 job cut in wealth and international, group operations and group executive operations. The bank wants to cut 15000 jobs in 2010.
According to the union, it is said that it had also been told that Capita had confirmed plans to cut 390 jobs in Bristol.

BP Aims to Cut Costs

admin — Thu, 04 Mar 2010 12:32:03 +0000

BP chief executive—Tony Hayward, has warned the shareholders that he is preparing the company for years of weak demand and depressed refining margins.
The BP group, which has already cut 7500 employees in two years, indicated that it intended to reduce costs to 2004 levels to improve profitability by more than £2 billion over the next three years.

Sterling Pressure

admin — Wed, 03 Mar 2010 19:30:20 +0000

Sterling remained under pressure amid concerns over a hung Parliament. The pound remained flat against the dollar after falling by 4 cents on Monday, but below the key rate of $1.50.
It is said that the prospect of a Tory governemnt was the only thing holding up sterling.

Bitain Must Invest in Basic Science

admin — Wed, 03 Mar 2010 12:26:30 +0000

According to the senior MPs, it is said that the UK must cut its excessive regulation of medical research and invest in basic science to retain its pharmaceutical industry. They fear that the closure of AstraZeneca’s research unit at Charnwood in Leicestershire could signal the beginning of a worrying trend.
The decision to end its research into several areas, including blood clots and ovarian cancer, will involve the loss of up to 1000 jobs at the site.

Prepare for Your Travel

admin — Sun, 28 Feb 2010 23:44:03 +0000

Well preparation will help garantee a great travel experience. Before traveling to a strange place, one should find as much information about the destination as possible, including the good accomadations, best dinning place as well as other meeting facilities.
These days, a lot of travel related sites are providing people with great source of travel related information. Check it out online is a comprehensive guide of information about more popular traveling locations such as South Beach.