British gilt dealers urged the Debt Management Office (DMO) to fund the government's bank recapitalisation programme predominantly with short-dated securities, minutes of a meeting showed on Tuesday. The DMO met gilt dealers and investors on Monday to discuss how to fund the additional 37 billion pounds ($64.47 billion) which the government needs to raise to
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By Rhys Jones and Ben Deighton (Reuters) British small caps are braced for a tough end to the year after a challenging third quarter saw the FTSE small cap index shed 10 percent of its value compared to the FTSE All Share Index's 6 percent fall. With numerous profit warnings, delistings, a lack of funding
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Nationalised British mortgage lender Northern Rock said it was repaying its emergency government loan more quickly than planned, but warned the housing market slump could hinder further progress. In a trading statement, Northern Rock said the outstanding balance on the loan was 11.5 billion pounds ($20.04 billion) at Sept 30, down from 26.9 billion pounds
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Turkish Airlines (THY) said on Tuesday it plans to order up to 105 planes from manufacturers Boeing Co and Airbus, as one of Europe's fastest growing carriers seeks to strengthen its position in the region. THY, partly owned by the Turkish state, said in a statement that it had invited the European and U.S. companies
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Cyprus President Demetris Christofias said here today that negotiations aiming at settling the Cyprus question will be difficult, adding that as the Greek Cypriot side’s interlocutor he will defend the fundamental principles on which the settlement of the Cyprus problem will be based. In statements at Larnaca airport before leaving for Brussels, where he will
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Google Inc and Yahoo Inc are in talks with the U.S. Justice Department in an effort to head off an antitrust challenge to their proposed advertising agreement, The Wall Street Journal said citing lawyers close to the effort. The settlement negotiations are at an early stage and it isn't clear whether they will resolve U.S.
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Federal Reserve Chairman Ben Bernanke said a U.S. financial rescue plan to be fleshed out on Tuesday would restore normality to markets and lay the groundwork for economic recovery. Bernanke, writing an editorial in the Wall Street Journal, did not give details of the plan, which will be announced as part of government efforts to
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The U.S. Treasury could pump $250 billion into U.S. banks in what Federal Reserve Chairman Ben Bernanke called on Tuesday a comprehensive attempt to end the credit crisis, restoring market confidence and sending Tokyo stocks up 14 percent. Japan, which forced its big banks to write off billions of dollars in bad loans earlier this
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Asian stocks surged for a second day on Tuesday, with Japan's Nikkei up a record 14 percent, as investors hoped plans from governments around the world to take stakes in banks will stabilise the global financial system and mark an end to the worst of the crisis. Major European stock markets were expected to open
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British retail sales fell for a fourth straight month in September on a like-for-like basis as furniture stores recorded their worst performance in at least eight years, a survey showed on Tuesday. The British Retail Consortium said like-for-like sales values were 1.5 percent lower last month than in September 2007. That was the sharpest fall
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