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News of the 07/23/2008

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GM Exec appears before Senate
Slash In Interest Rates Expected
England and Sweden make big rate cuts
    

BoE voted 7-2 to keep rates same

  
The Bank of England voted seven to two to keep official interest rates steady this month with the dissenting members split between a cut and a rise, according to minutes of July's meeting released Wednesday.
    From Boston Globe | Add a commentary | Report abuse
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VMware forecast disappoints, shares tumble

  
Business software maker VMware Inc <VMW.N> issued a revenue outlook on Tuesday that fell far short of expectations, saying customers were delaying purchases or opting for smaller and shorter contracts due to a weak economy.
    From Boston Globe | Add a commentary | Report abuse
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Mortgage advisers 'are failing'

  
Most mortgage advisers are doing a poor job when giving advice, according to research by the consumers association Which?
    From BBC News | Add a commentary | Report abuse
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British investor set to buy Mallorca soccer club

  
Mallorca chairman Vicente Grande has reached a preliminary agreement to sell the Spanish league club to a British investor for $57 million.
    From Boston Globe | Add a commentary | Report abuse
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Japan Games support

  
July 23 - The Japanese sport of judo has traditionally been a goldmine for the nation's Olympic medal haul, with businesses lining up to support the team.
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Top drug companies' earnings beat forecasts

  
LONDON (Reuters) - The world's two biggest drugmakers, Pfizer Inc and GlaxoSmithKline Plc , both beat expectations for quarterly earnings on Wednesday, as did Wyeth , indicating the sector's resilience.
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Profit up for Volkswagen, Peugeot-Citroen, Fiat

  
Three big European mass-market carmakers -- Germany's Volkswagen , Italy's Fiat and France's Peugeot -Citroen -- staved off the impact of higher gas prices and skyrocketing raw materials costs to post higher profits Wednesday even amid growing economic uncertainty.
    From Boston Globe | Add a commentary | Report abuse
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Record Numbers Choose UK Coast

  
Oh they do like to be beside the seaside - and a study shows Britons are opting to spread a towel on their own beaches in record numbers this summer.
    From Sky News | Add a commentary | Report abuse
 

House Prices Threaten Villages

  
English villages face an uncertain future because young families and first-time buyers are struggling to buy homes in the countryside, according to a new report.
    From Sky News | Add a commentary | Report abuse
 

A brutal test in student borrowing

  
Maria Ferraguto is finding it difficult to relax this summer. She's too busy figuring out how to pay for her son Michael's senior year at the College of the Holy Cross.
    From Boston Globe | Add a commentary | Report abuse
 

Vodafone's Shock £1bn Shares Move

  
Vodafone has announced a surprise move to buy back £1bn of its shares after the company's price plunged in the wake of a disappointing revenues forecast.
    From Sky News | Add a commentary | Report abuse
 

New Mortgages At Record Low

  
Mortgage approvals fell to a record low of 21,118 in June, a slump of 66.9% compared with the previous year.
    From Sky News | Add a commentary | Report abuse
 

Northern Rock Gets New Chief Exec

  
Gary Hoffman, the current Vice Chairman of Barclays, has been chosen as the new Chief Executive of Northern Rock on pay of more than £1.1m a year, it has been announced.
    From Sky News | Add a commentary | Report abuse
 

'Manufacturers Under Pressure'

  
Manufacturers are experiencing their worst price pressure for nearly 30 years, according to a new survey.
    From Sky News | Add a commentary | Report abuse
 

Fed Beige Book: Price pressures elevated or rising

  
WASHINGTON (Reuters) - The pace of U.S. economic activity slowed somewhat through mid-July and price pressures were elevated or increasing across the country, the U.S. Federal Reserve said on Wednesday in a report showing evidence of inflation warning signs across the country.
    From Reuters | Add a commentary | Report abuse
 

Net firms in music pirates deal

  
Six top UK internet providers are believed to have signed up to a government-backed plan to tackle illegal file-sharing.
    From BBC News | Add a commentary | Report abuse
 

Chicago cop accused of shaking down tow operators

  
A police officer was arrested Wednesday on federal charges of shaking down tow truck operators for payoffs of up to $400 per vehicle in exchange for steering towing business to them.
    From Boston Globe | Add a commentary | Report abuse
 
    
    
    





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