Author Archives: Darren Marchal

Credit Suisse axes 75

Credit Suisse said it was cutting around 75 jobs in its UK operations, becoming the second investment bank in as many days to slim down as economic fears hit the deal-making business. “We are currently reducing headcount by approximately 75 in the United Kingdom in the investment bank and certain support functions,” the bank has…

Bank of Ireland to shake off state support slowly

Bank of Ireland plans to move away cautiously from state support by showing it can raise debt outside a government guarantee and gradually repay taxpayers’ funds over several years, it has announced. Ireland’s biggest bank by market value has become the first major Irish bank to replenish its capital from partly private sources, an exercise…

Dollar near 15 year low after Fed move

The dollar hovered close to 15-year lows versus the yen but rose against other currencies on August 10 as investors pared back risk exposure in the wake of steps announced by the Federal Reserve to boost the economy. In early European trade, the dollar was up around one percent against the euro and the Australian…

TUI Travel warns on FY as budget measures hit UK

Europe’s biggest travel firm TUI Travel said it expected its full-year profit to be at the lower end of expectations after trading was hit by uncertainty among British consumers following June’s emergency budget. TUI Travel, in which Germany’s TUI AG holds a controlling stake of 57.5 percent, also said airspace closures as a result of…

Saudi Arabia unveils $385bn spending plan

Saudi Arabia plans to build schools, hospitals, housing and other infrastructure projects as part of a five-year plan budgeted at $385bn, the state-run Saudi Press Agency (SPA) has reported. Ageing King Abdullah is under pressure to create jobs and build housing as the population grows and unemployment rises, hitting 10.5 percent last year. Two-thirds of…

How to Invest in Private Money Real Estate Loans

Investors seeking alternatives to the stock and bond markets will find refuge in the world of private money loan investing.  If you are careful and diligent, you can earn solid returns while minimizing risk.The returns are better when investing in private money loans because it requires a little more knowledge, effort and patience, than just…

Morgan Sindall says construction recession not over

British construction group Morgan Sindall said growing demand for office buildings was helping to offset the impact of government spending cuts on its business, although the construction recession was not over yet. “The commercial side is growing, but let’s not over exaggerate – it’s growing a bit but not as quickly as governments are spending…

Astra pays $198m to settle US Seroquel claims

AstraZeneca has agreed to pay $198m to settle some 17,500 US personal injury claims related to its schizophrenia and bipolar disorder drug Seroquel, the company has announced. The top-selling medicine, which had worldwide sales of $4.9bn in 2009, accounting for 15 percent of group revenue, has been subject to long-running legal claims after being linked…

UK taxpayer moves into black on bank stakes

British taxpayers are sitting on a 3.5 billion pound ($5.6 billion) paper profit on its stakes in Royal Bank of Scotland and Lloyds after both swung back to profit, driving their shares higher.  Britain’s profit could be more than five times that amount — potentially bringing in much needed income for the cash-strapped UK government….