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London flats graphic

London flats set for 10% dip as supply exceeds demand

The price of London flats could tumble by as much as 10% by Christmas but family homes will hold their value, the capital's largest estate agency chain said  Comments (3)
Deepwater Horizon oil platform fire

BP blames American company for Gulf oil spill

Report by BP says the initial cause of the world’s worst oil spill in the Gulf of Mexico was a “bad cement job” by a US company  Comments (7)

Factory worker

Output at 16-year high but worries remain

Annual growth among UK manufacturers hit a 16-year high in July but figures today could not dispel fears that the sector will weaken  Comments

Mark Clare

Barratt ups targets for new blocks in the capital

Barratt Developments, the country's biggest housebuilder by volume, said it planned to virtually double its activity in the capital in the year ahead, beginning work on new homes worth more £700 million  Comments

GlaxoSmithKline

GlaxoSmithKline springs finance director surprise

GlaxoSmithKline stuns the City with the appointment of one of the Square Mile's most famous mergers and acquisitions 'rainmakers' to be its next chief financial officer.  Comments


Foster's

Foster's turns down $2.5bn bid for wine business

Australian brewer Foster’s rejects a A$2.7 billion offer from an unnamed private equity firm for its wine business, sparking hopes that it could now attract a full-scale takeover bid  Comments

Vince Cable

We still need to curb casino banks, says Vince Cable

Vince Cable signals he is open to fresh ideas on how to reform so-called “casino” banks — the investment arms of high street banks  Comments (9)

Acquisitions see half-year sales soar at Alliance Pharma

Specialist medicine maker Alliance Pharma says it is enjoying an “outstanding year” as acquisitions help its half-year sales soar 77% to £23.4 million  Comments

Couple house hunting

Third of people 'fear rise in interest rates'

Nearly a third of Britons are worried about the impact an interest rate rise would have on their finances  Comments (2)

Cape profit jumps 17.5% as it restarts dividend payments

Energy sector support services group Cape posted a 17.5% rise in first-half profits and said it was restarting dividend payments and would look to return to London's main market in 2011  Comments

Bob Diamond pay deal

Barclays: £11.5m package for Diamond is 'benchmarked'

Barclays move quickly to defend the £11.5 million pay and bonus package it has offered Bob Diamond to take over as chief executive from John Varley  Comments (14)

Stephen Green

HSBC hot seat empty as Stephen Green goes into politics

HSBC leaves position of chairman unfilled for the immediate future as Stephen Green is appointed Trade Minister to the Coalition Government  Comments (3)

Sir Roy Gardner

Connaught facing collapse in funding crisis

More than 10,000 jobs are at risk as Connaught, the social housing group, was on the brink of collapse after admitting its lender, Royal Bank of Scotland, is unlikely to provide funds it needs to survive  Comments (11)

Office of Fair Trading launches probe into aggregates industry

The UK’s £4.8 billion aggregates industry is under the spotlight, amid concerns over value for money and the sector’s domination by a small number of major players  Comments

Thorntons

Troubled Thorntons set to name new chief executive

Thorntons boss Mike Davies is heading for the door, but a successor is lined up and is likely to be announced shortly  Comments (1)

Vodafone

Vodafone faces £1.6bn bill as it loses India case

Vodafone lost a case in the Indian High Court which could cost it £1.66billion in back taxes on its £7.2 billion purchase of Essar  Comments

Virgin Atlantic

Virgin Atlantic solves pilots row to avoid strike

The long-running pilot’s dispute which threatened strike chaos at Virgin Atlantic is over  Comments

Lego logo

Hollywood roles help LEGO’s star performance

Toy manufacturer LEGO, famed for its colourful building blocks and elaborate designs, reports a 34% leap in sales to 5.86 billion Danish krona in the first half of the year  Comments

Cartier watch

Richemont luxuriates in a 37% revenues leap

Richemont, the group behind posh watches Cartier and Piaget, Montblanc pens and Chloe handbags, showed as its five-month sales beat expectations with a 37% jump in revenues  Comments

Dana: £240m buy puts firm above Korean bid

North Sea oil group Dana Petroleum bought £240million of assets which it says makes it more valuable than last week's £1.87 billion hostile takeover bid from Korea National Oil Corp  Comments

For sale signs

House prices have stabilised, says Halifax

House prices edged ahead by 0.2% during August as activity in the property market remained subdued, figures show  Comments (5)

Money

De la Rue fraud probe launched over 'deliberately falsified' banknote tests

Banknote printing firm De La Rue said it had called in the Serious Fraud Office and braced investors for a £35 million profits blow after 'totally unacceptable' behaviour by some employees  Comments (1)

Premier Inn

Whitbread welcomes austerity drive

Whitbread, the owner of Premier Inn, produces another set of booming sales figures as part of the nation's drive for austerity  Comments

British Airways planes

British Airways 'interested in future Qantas merger'

British Airways would be interested in discussing a merger with Qantas if Australia's top airline was a willing party, BA Chief Executive Willie Walsh said  Comments (3)


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Market Roundup
WEDNESDAY UPDATE

Diamond Bob’s Barclays job can’t stop Footsie’s slide

In theory, the appointment of Bob Diamond to the top job at Barclays is a sign that the good times are poised to roll again - but the FTSE was on the slide again as Tuesday's sell-off continued

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City Spy, cityspy@standard.co.uk

Hands puts Citi on rack over EMI deal

You've got to love Terra Firma boss Guy Hands' legal evidence of brown-nosing from Citigroup bankers as they allegedly persuaded him to overpay for their client, record label EMI

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