Raspberry Pi manufacturer ousts chief executive after run of bad results
Laurence Bain led Premier Farnell, which makes the educational mini-computer, for three years but saw stock plunge to a six-year low in July Premier Farnell, which makes the Raspberry Pi mini-computer, has ousted its chief executive, Laurence Bain, following disappointing recent results. Bain ran the company for the last three years after taking over from […]
Alexis Tsipras is down but far from out
A snap election is almost certain after the divisive vote to approve a new bailout – not least because the Greek prime minister stands to win it The result of the parliamentary all-nighter that approved Greece’s latest multibillion-euro bailout on Friday morning means early elections are now a near certainty and could come as soon […]
FTSE loses all 2015's gains as oil slide again
Shares end week in negative territory but on calmer note after China moves Leading shares ended a tumultuous week in a downbeat mood, losing all the gains made so far this year. As also happened in July, the FTSE 100 fell below the 6566 level seen on January 1, ending 17.59 points lower at 6550.74. […]
Eurozone finance ministers decide on Greek bailout – live updates
Rolling coverage as the Eurogroup meet to approve Greece’s third bailout, after Athens MPs gave their assent at a stormy all-night session Dijsselbloem: Hopes IMF comes on board in October Sapin: Greek debt relief will be discussed in autumn Earlier: Full Story: Alexis Tsipras hit by Syriza rebellion as Greece approves bailout deal Photos: Dissent […]
Five reasons to be worried about the Chinese economy
Beijing watchers are growing concerned over the economic and political signals coming out of the world’s second-largest economy It has been a tough year for China. Premier Li Keqiang’s plan to have slower but better balanced growth has run into difficulties and Beijing’s struggle to transform its economic model has prompted fears that the world’s […]
Nine banks including RBS settle $2bn forex rigging claim in US court
HSBC and Barclays also among banks to settle claim brought by investors in New York, but are warned cases could be brought elsewhere Nine major banks including Royal Bank of Scotland (RBS), HSBC and Barclays have settled a $2bn (£1.28bn) claim brought by investors in a US court for losses caused by the rigging of […]
Milk price row: Aldi and Morrisons vow to raise price paid to farmers
Supermarkets join Asda in bowing to pressure and pledge to pay more per litre for liquid milk to cover dairy farming costs Aldi and Morrisons have announced they will increase the price they pay suppliers for milk after bowing to growing pressure from dairy farmers about the crisis in the industry. Aldi, the discount supermarket, […]
Is Jeremy Corbyn's policy of 'quantitative easing for people' feasible?
The Labour leadership frontrunner has proposed ‘people’s QE’ to fund infrastructure, instead of banks, but Yvette Cooper says it is bad economics Jeremy Corbyn, the frontrunner in the Labour leadership election, has proposed “people’s QE” to fund extra infrastructure spending, build homes and invest in green industries. The policy of “quantitative easing for people” has […]
Germany's hypocrisy over Greece water privatisation
Germany has been criticised for pushing Greece to sell off its water utilities when many of Europe’s largest cities, including Berlin, are buying back theirs Greek activists are warning that the privatisation of state water companies would be a backward step for the country. Under the terms of the bailout agreement (pdf) approved by the […]
'Flash crash' trader to be released on bail
Navinder Singh Sarao granted bail amid battle against extradition to US on charges of fraud and commodity manipulation The British financial trader accused of contributing to a multibillion-dollar stock market crash is to be released after being granted bail. Navinder Singh Sarao, 36, who was fighting extradition to the US on 22 counts of fraud […]