Tom Frew

Growth concerns grow following $85bn of “dumb, arbitrary” cuts implemented after political stalemate President Obama has signed into law federal spending cuts worth $85bn, after the Democratic and Republican parties failed to reach agreement on how to balance the nation’s finances. Known as the sequester the spending cuts, described  by the President as being “dumb” […]

Company’s shares rise after founder publishes goodbye memo The founder and Chief Executive of discount provider Groupon has been sacked following a larger than expected fall in sales and reduced profits margins. Andrew Mason, who led the company through its floatation in November 2011, announced his departure on Thursday morning after the markets had reacted […]

Bank chief Stephen Hester predicts that it will soon be ready for reprivatisation. Stephen Hester, Chief Executive of the Royal Bank of Scotland, has told the BBC that bank will be ready for reprivatisation within the next two years. Arguing that it is was the responsibility of the government, who currently has an 80% stake […]

The full story and the fallout from the UK downgrade and the Pound Sterling falling. UK GDP Growth Grows Beyond Previous Estimate PUBLISHED:  27 Feb 2013 @ 12:11 The British economy grew more than expected, updated figures from the UK’s Office for National Statistics (ONS) revealed earlier today. In its report, ONS showed UK’s gross domestic […]

Italian election leaves inconclusive result causing sharp market falls European markets have opened to falls following an inconclusive result in the Italian elections, with the Frankfurt and Paris exchanges falling by over 2%. Closing whilst election results were being announced New York’s Dow Jones Industrial Average fell by 1.55%. By late morning trading Europe’s major […]

Increasing pressure on UK Chancellor after Moody’s downgrade and sterling concern. The UK’s senior economics minister George Osborne has said the government will “redouble its efforts” to reduce the country’s debts after rating’s agency Moody’s downgrade the UK from AAA to Aa1. Speaking in a House of Commons debate Mr Osborne argued that the rating […]

Energy giant Centrica announces report highlighting its economic benefits Multinational utility company Centrica contributes £14.1bn to the UK economy according to a report by Oxford Economics. Published ahead of the companies full-year results, which are expected to show a 15% rise to £2.77bn, Centrica are hoping the report will fend off public criticism over profits […]

Business Secretary Vince Cable cites “positive” economic signs The downgrading of the UK’s credit rating has been described as “largely symbolic” by Business Secretary Vince Cable. Moody’s, which cut the UK’s rating from AAA to Aa1 on Friday, said that the country’s economic growth “will remain sluggish over the next few years”. In his response […]

Continuing dispute over Apple’s cash £137bn of cash reserves Apple has cancelled a shareholder vote following a decision to block it by a US judge after a lawsuit was brought against the company by shareholder David Einhorn. The technology giant had intended for shareholders to vote on plans on whether to abolish the company’s contractual […]

The UK has lost its AAA credit rating following Moody’s downgrade Rating’s agency Moody’s has downgraded the United Kingdom from AAA to Aa1 following slow growth and increasing national debt, saying that it believes “the risks to the growth outlook remain skewed to the downside”. Whilst noting that it had “considerable structural economic strengths” Moody’s […]