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Moody's threat to Europe's banks sparks fury in City

Moody's has sent shockwaves through the global banking system and sparked fury in the City, as the ratings agency threatened to slash the credit scores of more than 100 banks in the wake of Europe's debt crisis  Comments (8)
Peter Sands

Bank's China bond call

One of London's most senior bankers is calling on the government to issue a renminbi-denominated bond as part of a charm offensive to boost the capital's chances of becoming a key trading post for China's currency  Comments

Olympus

Seven Olympus bosses held over £1bn fraud

"After going to hell and back this is a day to remember," said fired Olympus boss and whistle-blower Michael Woodford after seven executives involved in the camera company were arrested in Japan  Comments

Spain pays for rating cut

Struggling Spain has managed to prise another €4 billion (£3.3 billion) from jittery bond markets today but was forced to pay more for the privilege  Comments

B&Q

Kingfisher bonus time as targets are smashed

Ian Cheshire, B&Q owner Kingfisher's chief executive, and his top team are set for bumper payouts after smashing its bonus scheme's targets  Comments

Greek protesters

Greek impasse hits euro

European stock markets were jittery and the euro has dropped to its lowest level in four weeks as the brinksmanship between Greece and its bailout funders continue  Comments (8)

Handbag

PPR thrives as luxury brands remain strong

Add £1000 python skin Gucci handbags to the list of things that remain popular despite the economic gloom  Comments


BAE

BAE set to axe more jobs as profits go into retreat

BAE Systems has raised the prospect of further job cuts as Britain's biggest manufacturer announced a disappointing set of results for 2011 and forecast that sales would remain stagnant this year  Comments (2)

Reed Elsevier sees growth despite tough economy

Anglo-Dutch publishing and events group Reed Elsevier reported a rise in full year profit and said it expected to generate more revenue and profit growth in 2012  Comments

Beer

Frothy profits at Heineken

The economy might be in dire straits but Brits still love a pint down the pub  Comments

Mervyn King

Bank may turn off printing presses as inflation drops

The Bank of England's latest £50 billion burst of quantitative easing may be the last time it needs to resort to the printing presses  Comments (5)

Slump looms in eurozone as economy takes a dive

Europe's lingering debt crisis has pushed the eurozone closer to recession as the beleaguered single currency bloc's economy shrank for the first time in nearly three years  Comments (4)

Greek protests

Debt deadline: Greece on brink

Hopes were rising that Greece will sign up to the first €130 billion (£109 billion) bailout from the European Union and International Monetary Fund  Comments

Keith Edelman

Thorntons calls in a former Gunner to help turnaround

The chocolatier Thorntons has turned to the former boss of Arsenal football club to turn around its fortunes  Comments (5)

LandSecs £1bn joint venture for Victoria

A £1 billion-plus redevelopment is on the way at Victoria station  Comments

Morgan Crucible results surge on emerging market growth

Morgan Crucible reported highest-ever full-year results, helped by strong performance across both its divisions, and reiterated that 2012 growth would be driven by new products and emerging markets  Comments

Aviva is largest insurance victim in downgrade alert

Aviva has become the largest victim in the UK insurance sector of the tremors emanating from Moody's mega-downgrade alert across Europe  Comments

Malcolm Walker

Walker edges towards securing frozen food chain Iceland

Iceland retail boss Malcolm Walker is thought to be in pole position to buy back the frozen food chain he founded more than 40 years ago  Comments

Ladbrokes

Ladbrokes books 'better than expected' profits

The UK's second-biggest bookmaker Ladbrokes has reported a better-than-expected full year operating profit  Comments

Pizza

Online orders on mobiles lift Domino's

Domino's Pizza UK said its online sales have powered ahead to account for more than half of delivered sales  Comments (1)

Jean-Laurent Bonaffé

French banks face battering on exposure to Greek debt

French banks look set to take one of the biggest haircuts on Greek debt as the country's largest, BNP Paribas, has said it had raised its provisions on Greek sovereign bonds to 75%  Comments (1)

Mike Ashley

Sports Direct is on right track

Sports Direct is on track to hit its "super-stretch" profit targets this year, passing the first hurdle that could see it hand founder Mike Ashley a bundle of shares worth nearly £17 million  Comments

Job Centre unemployment

Jobless total jumps by 48,000 with UK facing 'zig-zag year'

Bank of England Governor Sir Mervyn King warned Britain faces a "zig-zag" year of growth and gloom today as unemployment rose by 48,000  Comments (24)

Fashion book

Bloomsbury takes a new passage to India

Publisher Bloomsbury is to set up a new business in India to take advantage of rapidly growing demand from the country's English-speaking middle class  Comments


Should we ignore the threats from Moody's to downgrade our banks?

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City Spy, cityspy@standard.co.uk

Now budget cuts hit, er, the Budget

Even the Budget is being hit by, um, budget cuts. A terse note from the Treasury says that hard copies of next month's Budget documents will be limited to a few parliamentary hacks

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