Sunday, 7 October 2007
Return of the Business Round-up
After last week's hiatus to do the international Carnival of Capitalism it is back to the UK business round up. A mix of the best and oddest stories from the business pages of the Sunday Broadsheets.
This week the focus has been more on politics and the busy hacks in business journalism will have been able to rest their wrists a little more. Expect business news to make the running for sometime yet though as the economy enters its rocky patch...
Citibank to bail out Northern Rock- If this happens it will please the bank of England, currently sat on £10 billion of 'security' in the form of Northern Rock mortgages.
CSR - Alistair Darling is going to announce the Government's spending priorities this week and will expect tiny reductions in spending. Some of this article is out of date given that Brown has run from an election.
Darling breaks his Golden rules - On the other hand, this piece in the Independent shows just how poorly our public finance are considering we have been through the boom times and are now into bust.
Merill Loss - £2.25 billion loss is a high price for the credit crunch. What the insiders want to know is what happens next quarter though. have the banks really come clean on everything? My hunch is no, as these figures, bad as they are do not relate adequately to the amount of assets now unsaleable.
RBS victory? - Barclay's were finally found out int he bid for ABN Amro. Now RBS has to show that it is worth the price it is about to pay.
Supermarkets face action - This story is always in the papers, yet somehow the supermarkets manage to play the market and deliver us all lower prices as we want in these inflationary times.
Arsenal takeover saga moves on - Another bid that is set to run for ages. Now the Arsenal board are teaming up with the American they originally spurned....all keeping up with this?
Royal Mail Strike - This will have no winners. The unions are going to cause more job losses than necessary and the pathetic management are going to post an even bigger lost than necessary. A sad reflection that we have this 1970's battle in 2007.
Identity theft - A below the radar story here. The lesson is clear though, be careful to whom you give your personal information, lest it is stolen.
UK consumer spending - There are a few articles today on the consumer spending figures. This is a good article as it shows how the credit crunch is affecting the big spending first. As time goes on this will trickle back further into everyday spending.
Posted by CityUnslicker