Tesco can not seem to do any wrong

The largest UK retailer, Tesco, is expected to report profits of £3.38bn annually during this week, which is an 8% increase over last year. The strong results are a surprise given the rough year Tesco has had in the UK, which makes up 70% of its profits.  Sales growth in the country however has stalled […]

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Brown goes after Goldman Sachs

Prime Minister Gordon Brown has stated that he wants US Bank Goldman Sachs to be investigated by the UK financial watchdog after US regulators formally charged it with fraud. Brown is in the middle of the General Election and piled pressure onto the powerful Wall Street bank accusing the company of moral bankruptcy over plans […]

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CBI mulls Lib Dems tax ideas

The shadow Chancellor for the Lib Dems, Vince Cable, has come out on top of the polls as the best leader that can be trusted to help guide Britain out of the recession.  At the same time however, he also heavily criticized the party’s current policies on bank reform, transport, energy, tax, employment law, reform […]

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Is the cash finally starting to flow

During the first quarter of 2010 credit availability for businesses increased with signs that the increase will continue over the next three months according to Britain’s lenders which responded positively to a new survey conducted by the Bank of England. The latest Conditions Survey from the Bank reported that the demand among SMEs for credit […]

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Financial services industry recovering

The financial services industry of Britain is slowly starting to come back from the banking crisis with profits starting to consistently rise and companies starting to feel as if growth will occur largely over the year of 2010.  However, the volumes are still flat which may mean that the improvement in profits is the result […]

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Mandelson attacks CBI

Business secretary Lord Mandelson launched a bitter attack yesterday on Richard Lambert the director of the CBI stating that he preferred to side with big time banks and was out of touch with SMEs. The attack is the first argument that has occurred between the CBI and Mandelson who generally has a good relationship with […]

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Banks against end of self-cert mortgages

Britain’s largest lenders are speaking out against new proposals that would ban mortgages that are self-certified, as suggest by the Financial Services Authority. The watchdog for the city stated that building societies and large banks were in opposition of such a ban because it may lead to an increase in the amount of people who […]

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Ofcom forces BT to share its broadband lines

Communications regulator Ofcom wants to accelerate the rate at which ‘super quick’ broadband is introduced to the UK by demanding that BT allows its rivals to utilize its fibre network along with telegraph poles and underground ducts. Ofcom announced this week a set of proposals that would let BT’s competition access the fibre optic network […]

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