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BUSINESS

Bets against Spain pile up as spectre of default looms

Bets against beleaguered Spain and its banks hit an all-time high today as alarm over the prospect of Greece pulling out of the euro kept the nation in the eye of the storm.

Santander to savers: Don’t panic, your money is safe

Santander

Santander UK, the country’s third-largest bank in terms of savers, today reassured them the downgrading of its and its parent group’s debt ratings should not make them panic.

Goldman hired by Spain to advise on struggling Bankia

The vampire squid is thrusting its tentacles back into the eurozone crisis. Goldman Sachs has been hired by the beleaguered Spanish government to examine the books of the part-nationalised lender, Bankia.

LSE boss Rolet ‘optimistic’ on single currency

Xavier Rolet London Stock Exchange

Xavier Rolet, the Frenchman who has run the London Stock Exchange for the past three years is cautiously optimistic that the eurozone crisis is about to play itself out and the single currency will survive.

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Grexit strategists
Grexit Strategists

Complex trading algorithms could predict - or even cause - a eurozone meltdown. Simon English reports

G4S brings in former Deloitte chief

Fearsome bean-counter John Connolly has been drafted in as chairman of G4S, the security firm that will protect visitors to this summer’s Olympic Games.

Lingerie double lift as Victoria’s Secret and Agent Provocateur expand their briefs

The £3.6 billion UK lingerie market will be lifted this summer by lingerie brands expanding in London.

Market Round Up: Facebook effect cheers traders but fails to lift market gloom

Facebook’s mega-float was the only thing cheering up traders as they fretted about a “Grexit” on another grim day for European equities.

Sunday newspapers

Media Analysis: Can someone tell me why Brits don’t like Sundays?

In one of the many wonderful one-liners delivered by Maggie Smith as the haughty dowager countess in Downton Abbey, she asks with slightly disingenuous bafflement: “What is a weekend?”

Walkie Talkie Tower

On Property: Noel bares all… down to the bottom line

The new chief executive of Britain’s biggest and still grandest property company, Rob Noel, has a tattoo on his rump.

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Sales at Mitchells & Butlers shrunk by the downpours

Mitchells & Butlers, the owner of some of Britain’s best-known pubs today said sales had actually fallen during April as the rain poured down.

Mallett swings into buying mode after showroom move pays off

Upmarket antique furniture and art dealer Mallett is in the market to buy fresh stock, having made a £1.3 million profit from moving its showrooms from New Bond Street to nearby Ely House in Dover Street.

Taxpayers may lose £2bn on Northern Rock
Northern Rock

Taxpayers could lose up to £2 billion from the government's 2008 rescue of mortgage lender Northern Rock by the time all the assets are wound down, according to the spending watchdog.

UK in pork export deal with China
Pigs

The UK's pork producers are toasting a new deal to increase exports to China.

‘Hype’ or not, Pinterest gets its funding before Facebook

Quirky social networking website Pinterest cashed in on the “Facebook effect” today with a fundraising that values the two-year-old business at $1.5 billion (£940 million).

Slow lane: Aviva in sales drag

Aviva tried to put a brave face on its woes today, insisting it had made a “solid start” to the year despite the investor fury surrounding the now-departed chief executive Andrew Moss.

Ellesmere Port car plant saved by Vauxhall-owner General Motors
Simon Prior, product manager at Vauxhall

Britain has secured a deal with General Motors to build the next generation of its Astra compact model at Ellesmere Port rather than in Germany, saving hundreds of jobs.

Greece’s default would ‘raise the cost of mortgages’
Estate agent's window

The estate agent behind the Your Move and Marsh & Parsons chains today braced would-be homebuyers for dear mortgages amid mounting alarm over Europe’s debt woes.

In a tangle: French Connection dives
Stephen Marks

French Connection today issued its third profits warning in seven months as it said sales in its UK shops slumped by 12% in the first three months of the year.

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