Britain's blue-chip shares retreated by midday on Thursday, weighed by weak tobacco, oil and water stocks, but gains in miners and banks provided some support for the index. By 1053 GMT the FTSE 100 was down 0.4 percent, or 19.86 points at 4,473.87, after gaining 0.3 percent on Wednesday to close at 4,493.73, its longest
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EU member Cyprus plans to legislate against usury after an apparent spike in cases of people struggling with costly debt from loan sharks profiteering during the financial downturn. Although there is no hard data, lawmakers debating the issue on Thursday said the practice was on the rise. Cyprus does not regulate debt between individuals, with
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International bank lending dropped again in the first quarter and shrank by over $6 trillion in the year to the end of March as the financial crisis restrained credit, according to Bank for International Settlements (BIS) data. Lending contracted by $1.5 trillion in January-March at current exchange rates, or over 4 percent, the BIS said
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British retail sales jumped at three times the rate analysts expected in June as hot weather and early summer discounting boosted sales of clothing, official data showed on Thursday. The Office for National Statistics said sales volumes rose 1.2 percent last month, above all forecasts in a Reuters poll, after a revised fall of 0.9
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Microsoft Corp said on Wednesday it is releasing the code for Windows 7 to PC manufacturers, keeping the software company on track to have machines running its new operating system in the stores by late October. The move means Hewlett-Packard Co, Dell Inc, Acer Inc and other computer makers can start to load up new
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Moody's Investors Service has placed the local and foreign currency deposit ratings of four Tunisian banks on review for possible downgrade in light of its global review of systemic support indicators and stress testing for the banking systems. Bank financial strength ratings (BFSRs) of affected Tunisian banks remain unchanged. The affected financial institutions are Amen
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European shares rose for a ninth consecutive session to hit a 6-1/2-month high on Thursday, with reassuring results from Credit Suisse boosting banks and drugmakers advancing after Roche raised guidance. At 0830 GMT, the FTSEurofirst 300 index of top European shares was up 0.2 percent at 892.17 points after touching 894.28 — the highest level
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European companies' pension plans suffered less damage than their US counterparts' in 2008, Moody's Investors Service said in a Special Comment published Thursday. However, companies on this side of the Atlantic are vulnerable should a future narrowing in credit spreads not be offset by a recovery in asset prices. The Moody's report compares the performance
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Provident Investments, the Swedish investment firm has moved its Head Quarters base to Nicosia, Cyprus offering an international platform for financial investments in all assets on markets in over 120 countries. “We provide customized asset management for companies, pension funds and wealthy individuals through our unique financial platform,” said Håkan Henriksson CEO / Portfolio manager.
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By Catherine Hornby From queuing barges and traffic jams to falling cargo volumes and quieter terminals, Rotterdam worker Johan Blinde has seen a struggle with overload at Europe's biggest port turn into a fight for business. In past years, he saw bottlenecks at terminals handling booming imports from Asia often forcing frustrated shippers to wait
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