Last Friday saw the announcement of the mother of all bailouts with the US government’s $700 billion (£380 billion) plan to take toxic securities into public stewardship in a so-called “bad bank”.
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The hounds and riders – dressed in an appropriately socialist shade of pink – are gathering to hunt down the culprits behind last week’s banking meltdown.
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Shareholders in Alliance & Leicester will be asked today to cast their final votes on the bank’s proposed £1.3 billion takeover by Abbey’s Spanish owner Santander.
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The headline on the front of Saturday’s Financial Times said “Palin to shake up election fight in US”. My first thought was “mmm...from Monty Python to the Republic presidential ticket, not bad.”
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For those of us not so far gone in drink or dementia as to be unable to remember the 1970s, evocations of that dreadful decade by some commentators among the current economic downturn are pretty horrible.
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Further indication as to the strength – or perhaps the lack of it – of the UK’s housing sector will come this week with updates from Bovis and Taylor Wimpey.
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After all the doubts expressed about the lack of a future for Longbridge, car production has once again resumed at the famous plant – although not in a way most people would recognise.
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As professions go, journalism does not enjoy the greatest of reputations; seedy, scruffy and having an aversion to the truth are all characteristics unfairly levelled at the industry.
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