Barclays gets $12 bln investors from Middle East

British second largest bank Barclays are close finalise the cash injection from Middle East investors..
£3.5bn from Sheikh Mansour Bin Zayed Al Nahyan for a 16.3% stake in the bank.
£2bn from Qatar Holding for 12.7% stake
and £300m from Challenger for 2.8% stake .

Barclays market capitalisation is £16bn and its looking for £6bn cash...

190,000 charged double - Argos

Argos admitted of charging 190,000 customer double last friday reasioning due to technical issues......(or is this new way of increase the cash in the backs accounts to beat the Credit cruch?)

$2.8bn deal makes Delta world's biggest..

Delta is buying fellow US airline Northwest in a $2.8bn deal pocketing The world's biggest airline title.

5 trillion yen aid - Japan's PM

Japan's Prime Minister promised to pump 5 trillion yen (£32bn) into the economy to help households and small businesses.

$25.1 billion bailout for Hungary

Hungary has managed to secure a $25.1bn bailout package from European union and the International Monetary Fund(IMF).

£318M deal for BMI by Lufthansa

The German carrier Lufthansa has bought a stake in BMI €400 million (£318 million) from Sir Michael Bishop which would bank Lufthansa 80% stake ownership.

BP - £70m a day profits

BP revealed their 3rd quater of nearly £6,400,000,000(£6.4bn) i.e., £70,000,000 (£70M) a day, 3,000,000 (£3M) a hour and £600 every second.. There profit up by 148%.

Gordon Brown warned BP boss to stop squeezing their customers and lower its price as the crude has nearly reached $60 a barrel.

Bank bailout costs cost taxpayers $6,988bn

Governments and central banks across the world have bailed out the global financial industry with pumping $6,988bn of taxpayers.

Aegon to receive €3bn bail from Government

Dutch gevernment has pumped €3bn in Aegon which employs 4,500 people in the UK to strengthen its capital requirments.

GM-Chrysler request $10 billion rescue

On monday, General Motors Corp and Cerberus Capital Management have asked the US government for roughly £6.66bn rescue package to support a merger between biggest car manufacturing companies GM and Chrysler.

Huntington Bancshares to get $1.4 billion

Huntington Bancshares announced it will get an injection from the U.S Treasury worth $1.4bn. Its tha second Ohio back to get an aid packaged from the treasury.

MUFG to raise $10.6 billion

Mitsubishi UFJ Financial Group plans to raise up 990bn yen ($10.6bn) selling new shares to help replenish its capital.

KBC to get $4.3bn from its stock

Belgium's biggest bank and insurer KBC Group will sell stock to the government worth $4.3bn to stabilize its business due investment losses...

Capital One to sell $3.55B in stock

As a part of government investment scheme, Capital One will receive $3.55bn against selling its stock to government.

CenturyTel's $5.8 Billion acquisition of Embarq corp.

US telephone service provider CenturyTel Inc. announced its acquisition of larger carrier Embarq Corp. for about $5.8bn(stock).

IMF plans $16.5bn loan deal with Ukraine

The International Monetary Fund(IMF) announced the aid plan of £10.31bn($16.5bn) loan agreement with Ukraine. The country is currently struggling to restore economic crisis due to shaky banking system and its sliding currency.

£20M tax money investment - Electric vans

Government is planning to invest £20M tax payers money in buying 100's of Electric Vans

£125M, 450 jobs - Travelodge

The budjet hotel Travelodge will be spending £125M in opening 22 new hotels which would create 450 new jobs with effort to reach 70,000 rooms by 2020.

New rate - 3.5%

Business leaders and Economics Guru belive that by Christmas BOE may cut the intrests to 3.5% in order to boost the economy

JCB union members saves 300 jobs

In order to save 300 jobs cut, JCB’s 2,500 workers yesterday opted to accept a pay cut £50 a week and will be working four day in a weak(JCB's cutting down production due to lower demands)

House price drops by 13.3% in UK and 18,900 repossessions Jan-Jun

Britain biggest Mortgage lenger revealed latest house prices drops..Nationwide 12.5% price drops and Halifax 13.3%. price drops.

Repossessions figures nearly doubled for the Jan to June year to 18,900 repossessions. The landlords posted their rent income +3%

Tesco - £16K fine for a treat to a RAT.

One of the Tesco stores was fined for £16k after a customer found that a Birthday Cake worth £4.95 delivered was bitten by as RAT.

50% increase in demand of rented home

Slowing moving hosing market and mortgage difficulties have restrited people in buying a new shelter to them. As a result there is 50% increase in people renting a home.

Argos write off £542m from the HOMEBASE value

According to Argos one of the top retailers in UK has writen off £542M. It payed £900M in 2006 for Homebase which is now worth less that its half nearly £300M. The sales of Homebase has droped by 32% and argos by 14%. The target profit for the year ending at Feb2009 has come down to £327M from £350M which is even less to profit the previous year of £433M.

The cash left in theit bank is just £275M but divided is maintained at 4.7p.

They also declared that this year could be their worst Christmas in their 35yrs of business.

Theee 1,000mph car

British engineers have unveiled plans for the world's first 1,000mph car costinf nearly £12,000,000(.......£12M).

The caculation aslo predicts that the car could reach the top speed of 1,050mph. This speed of 1,000mph could be reached in just 20sec which faster than a bullet.

Pfizer- $60 million settlement

The world's largest drugmaker Pfizer, declared that it will pay $60M to 33 states to resolve claims on the company for improperly marketing the pain relievers Bextra and Celebrex.

Wachovia Lost $24 Billion

The bank Wachovia Corp. that came within hours of collapse last month has reported a $24bn loss today reasoned due to Customers pulling their Funds out.

Rs15,000(£18) - New laptop from Reliance India

Get free laptop from Reliance with a internet connection for Rs 1500/m(£18/m) and that to contaract for only 2 yrs. And just not this, one has option select make also..HCL, Intel, Acer, Asus and Lenovo.

New £150 Asus Eee netbook on horizon

Asus announced the new note book will be arround 10'' and will definately will be a touch screen costin $250 to $700.

$30m U.S for 11 day space holiday..

Richard Garriott is the world's latest space tourist who payed nearly 30 million U.S. dollars to fly to the international space station on a Russian Soyuz spacecraft for a 11 day visit.

According to Richard, the 30 million U.S dollars is worth for the visit..

£1 + £1 = £24,000 for GPs

£1 incentive for GPs to spend time reviewing their decision to send patient to hospital and a topup of £1 for every name on their surgeries provided they reduce their previous year’s referral rate.

So an average surgery with 12,000 patients will receive up to £24,000.

Prince's £8,000 and £20,000 bikes

Prince Harry buys £8,000 bike and Prince William superbike is worth around £20,000.

Both Prince's are currently competing the week-long 1,500km motorcycle ride in an effort to raise money for Nelson Mandela Children's Fund - UNICEF.

£3bn bid for Direct Line and Churchill Insurance..

Swiss Re and CVC combines for a £3bn bid for Direct Line and Churchill Insurance which is a part of RBS.

The Insurance Business is valued £6bn and if the deal is finalised then Swiss Re and CVC will pay £3bn of the 51% of RBS's insurance business.

JJB Sports a £3m cash boost.

JJB Sports receive £3m cash boost from Mike Ashey( Sports Direct) in return of share's worth a list 5% of the Company.

£7.6 bn cash injuction for ING

Netherlands Government has agreed cash injunction of £7.6bn to Dutch banking giant ING after the bank revealed the first ever quarterly loss of 500M euro...

30Kg - £2000 - 610 x 469 millimeters - "Earth"

The biggest atlas --Earth which 30Kg cost £2000 with dimessions 610 x 469 millimeters in brought to you by Millennium House.

Of such kind, onLY 3000 copies will be published.(but may find photocopies of the book on ebay...made in _ _ _ _ _ haha!!)

20yrs of serices..

After 20yrs of service, Spanish budget airline LTE has announced it is suspending all flights due to financial troubles...

11,953 runs finally..

Master blaster Sachin Tendulkar has finally got hold the Test record of Lara of 11,953 run. IT has been a long innings and took 19 yrs and 152 test matchs to reach here 12,027

Other records on the books are most centuries in Test matches --39 and One-dayers --42.

80% cut by 2050

The energy and climate change secretary committed that UK will cut greenhouse gas emissions by 80% by the middle of the century(2050)

99.99p for petrol prices..

Its a time where the fuel price have lowered, many supermarkets have cut the fuel price including ASDA, Tesco and many more..

This year the crude barrel has seen it extreme $141 and now its hitting low of $75...was this planed before? or some contries is trying to fill wells(as pockets are small even kid understand this..)!!

Virgin Atlantic to cut the fare price by £13 as the fuel prices have lowered....

£150M settlement

Mandonna and Guy Ritchie are to divorece, leaving a record £150M settlement

17 Yrs High unemployment

According to the latest figures reviled, the jobless crisis is worst in 17 yrs, the unemployment has risen its fastest and the number of people out of work climbed by 164,000..

--Unemployed toll highest over decade

--2M expected to be jobless by Christmas

£37,000,000,000 pounds (£37b)

British government have boosted the Royal Bank of Scotland with £20,000,000,000 and LLoyds TSB and HBOS with £17,000,000,000 pounds

2 Cambodian soldiers

2 Cambodian soldiers killed during gunfire exchange with Thai troops

PHNOM PENH, Oct. 15 (Xinhua) -- Two Cambodian soldiers were killed during Wednesday afternoon's two-hour gunfire exchange between Cambodian and Thai troops at the border area, said Cambodian Minister of Foreign Affairs and International Cooperation Hor Namhong.
Two others were wounded in the "weapon clash," which started around 2:25 p.m. local time (0725 GMT) near the Phnom Trop in the Veal Intry area, about 2,000 meters west of the ancient Preah Vihear Temple, according to the minister.
(source: http://news.xinhuanet.com/english/2008-10/15/content_10199730.htm)

F&C Asset Management to cut 99 jobs, National Express to Cut 750 UK jobs to save £15M, Ryder to cut about 700 positions

Redundancy figures..

--F&C Asset Management to cut 99 jobs (18/12/08)

--National Express to Cut 750 UK jobs to save £15M (18/12/08)

--ASML Holdings lowers sales guidance, to cut 1,000 jobs (18/12/08)

--Ryder to cut about 700 positions (18/12/08)

--Aetna to cut 1,000 positions in downsizing (18/12/08)

--Western Digital to cut about 2,500 jobs or 5% of staff (18/12/08)

--Nissan to cut Japan output by 78,000 units, reduce 500 jobs (18/12/08)

--Air Products to cut 1,300 jobs (16/12/08)

--Inchcape to cut costs and jobs by 1,900 (16/12/08)

--TFL UK to cut 2000 jobs (16/12/08)

--International Paper to cut up to 1,500 jobs in 2009 (15/12/08)

--Electrolux to cut more than 3,000 jobs (15/12/08)

-- Santander to cut 1,900 jobs (15/12/08)

--Kongsberg Auto to ax 250 jobs (15/12/08)

--Royal DSM to trim 5% of jobs (15/12/08)

--Northern Trust plans to cut 450 jobs (15/12/08)

--Fairchild to cut 12% of workforce - 1,100 jobs (12/12/08)

--Pfizer to cut 700 jobs in France (12/12/08)

--Alcatel-Lucent to Cut 1,000 Manager Jobs (12/12/08)

--UBM to cut 350 jobs (12/12/08)

--Bank of America to eliminate 35,000 jobs (12/12/08)

--Stanley Works plans 2,000 job cuts (11/12/08)

--Cummins to cut 500 jobs or about 3.5% of staff by year-end (11/12/08)

-- Sara Lee cutting 700 jobs (11/12/08)

--Novellus plans to cut 10% of workforce (10/12/08)

--SKF to cut 2,500 jobs (10/12/08)

--Rio Tinto to cut 14,000 jobs (10/12/08)

--National Football League to cut 150 jobs (10/12/08)

--Zep cuts 5% of staff as customer base declines (09/12/08)

--InBev to cut 1,400 jobs in U.S (08/12/08)

--Sony to cut 8,000 jobs (08/12/08)

--Dow Chemical cuts 11% of workforce (08/12/08)

--Alvarion to cut 110 jobs (08/12/08)

--3M to layoff 1,800 staff (08/12/08)

--Australia and New Zealand Banking Group Ltd will lay off 800 staff (08/12/08)

--UBS may futher announce as many as 4,500 more job cuts (08/12/08)

--BA to axe 100 plus Gatwick jobs (08/12/08)

--Constellation will cut 800 jobs globally (05/12/08)

--Experian sheds 300 (05/12/08)

--BDO Stoy Hayward to cuts 250 jobs (05/12/08)

--3,400 jobs to go in HM and customs offices (05/12/08)

--Viacom announced cutting 850 jobs i.e., is 7% of work force (04/12/08)

--AT &T cutting 12,000 jobs (04/12/08)

--DuPont plans cutting 6,500 jobs : 2,500 positions & 4,000 contractors (04/12/08)

--Belden to cut 1,800 or 20% of jobs (04/12/08)

--Adobe will cut roughly 600 jobs (04/12/08)

--Nomura declares cutting 1,000 jobs in London (04/12/08)

-- GlaxoSmithKline cuts further 200 UK manufacturing jobs (03/12/08)

--450 jobs threatened at Novelis Wales aluminium firm (03/12/08)

--American Capital cuts 110 employees (03/12/08)

-- HSBC cuts further 500 jobs

-- Credit Suissee sheds 5,300 jobs

--Halfords slashes 250 jobs

--Ason Martin announced laying off 300 workers

--Nakheel sheds 500 jobs.

--ArcelorMittal plans 9,000 voluntary redundancies

-- Skanska to cut 5.7% of workforce

-- Dell has cut 13% of its workforce..

--Isuzu, Mazda to cut 2,700 seasonal workers in Japan

--Boeing to Cut 27% of Jobs at Defense Unit in Kansas

--Renault has also announced that it would cut 6,000 jobs in Europe, including 4,900 in France.

--France's Peugeot Citroen to slash 3,550 jobs

--Akamai cuts 110 jobs accross the globe

--Intevac to cut more than 15% of worldwide jobs

--Rolls Royce cutting up to 2,000 jobs in 2009

--Deutsche Bank announces 900 jobs

--Swedens Sandvik announces 2450 jobs cuts

--SIG made its announcement to axe 900 jobs

--Pepsi Bottling takes aim at 3,150 job cuts

--National Express sheds 300 in new jobs

--Independent News & Media to cut 90 jobs

--Wolseley to shed a further 2,300 jobs

--Citigroup tells employees it's cutting 50,000 positions in near months

--Avis Europe to shed 315 jobs

--Sun Microsystems to lay off 5,000 to 6,000 workers

--Friends Provident cuts up to 280 Manchester jobs

--RBS to slash 3,000 banking jobs worldwide

--Las Vegas Sands to cut 9,000-11,000 jobs in China

--National Semiconductor to cut 330 jobs..

--Applied materials to shed 1,800 jobs..

--John Menzies to cut 600 jobs..

--BT slashes 10,000 jobs

-- Virgin Media slashing 2,200 jobs

-- Yell on the edge of cutting 1,300 jobs

-- Taylor wimpey axing further 1,000 jobs

--Dairy Crest to cut 100 jobs

--Dana Holding Corp to axe 5,000 jobs from 3000 job cuts figure disclosed earlier..

-- AMD to cut 500 jobs

--Building firm Rok to cut 750 jobs

--Legal Services Commission (LSC) to axe 600 jobs

--Nokia announced 550 job cuts..

--German industrial group BASF to shed 1,000 staff

--Motorola eyes on 3,000 job cuts

--Ammerican Express to cut 7,000 jobs saving $1.8bn

--Credit Suisse to cut 500 jobs.

--Qwest Plans to Cut 1,200 Workers - nearly 3% of the total companies workfroce.

--Whirlpool shashes 5,000 jobs

--Bear strearns 7,500 jobs loss

--Lehman brothers 14,500 jobs loss

-- Wachovia 1,400 jobs gone

--UBS 5,800 jobs cut

-- RBS/ ABN ANRO 7,000 jobs cut

-- West LB 1,550 jobs lossess

-- Bank of America 3,650 jobs cut

--HSBC 2,900 jobs lossess...

--Xerox to cut 5 pct of staff; 3000 jobs

--Wolseley, the building materials supplier in US is further set to cut 3,000 jobs buy closing down 86 branches bringing the of 10,600 jobs cut scince 2006

-- Goldman Sachs to cut 10% of its workforce which would arround 3,250 jobs.

--Rightmove axes 20% fo their staff in order to save £5M

--More than 1500 Jobs will go by January 2009 at Yahoo which is 10% of there workforce, the figure may increase as a measure of cutting down expenses..There profit is down by 64%.

--Novartis to cut 550 jobs as their profit drops 69%.

--NortherRock cuts 1,500 jobs(Feb,08)

--Jet Air dismisses 1000 staff

--U.S firm axes 800 jobs at computer chip plant in Scotland

--Confectionery giant Cadbury Plc has just announced 580 job losses

--Britain's largest commercial broadcaster ITV announced cutting around 1,000 jobs.

--Pepsi (PEP) is supposed to cut 3,300.

--Citi Corp sheds 11,000 jobs by second Quater

-- Today Air India announced, they are considering for long term umpayed holiday for nearly 15,000 staff for 3-5 years

--198 Jaguar workers to lose jobs

--GM to cut its workforce by 1,600..

--Channel 4 Announced to axe 150 jobs to which would save £100M over the current year and 2009

$100 billon in 9 biggest banks

SAN FRANCISCO (MarketWatch) -- The Treasury agreed to invest more than $100 billion in nine of the largest U.S. banks, including Citigroup, J.P. Morgan Chase and Wells Fargo, in a move that effectively nationalizes part of the country's financial system.

Treasury is investing $25 billion in senior preferred shares of Citigroup and another $25 billion in the same type of securities issued by J.P. Morgan Wells Fargo is getting $25 billion to $20 billion under the same deal, the Wall Street Journal reported.
Bank of America is getting $15 billion, while Merrill Lynch will receive $10 billion from the Treasury.
Morgan Stanley and Goldman Sachs each agreed to government investments of $10 billion, while Bank of New York Mellon will get $3 billion and State Street will receive $2 billion.
(source: http://www.marketwatch.com/news/story/nine-largest-us-banks-getting/story.aspx?guid=%7BF3935594%2D9048%2D4BE1%2DA98D%2D4D9759A90DF9%7D)

9,000 years old

TB victim remains, 9,000 years old, re-write history of disease

The discovery of two nine thousand year old tuberculosis victims demolishes the conventional wisdom that humans caught the disease from cows, claims a new study.

The remains were found in a now submerged Neolithic village off the coast of Israel
Scientists have traditionally believed that tuberculosis was caught from the infected milk of cattle at a time when humans first started domesticating animals around six thousand years go.But the discovery of two much older victims - a mother and a child - finally proves that the human strain most likely existed before its bovine equivalent.It is hoped the findings reported in the Public Library of Science One journal, will help scientists trace the route of the disease which still kills thousands of people every year.
"What this shows is that it was not animals that infected humans, it was humans infecting humans," said Dr Helen Donoghue, from University College London
"This suggests that it was the coming together of humans into settlements rather than the domestication of animals that led to the disease spreading."
The mother and child were discovered underwater in the remains of a Neolithic village, now submerged by the sea off the coast of Haifa, in Israel.

(source: http://www.telegraph.co.uk/earth/main.jhtml?view=DETAILS&grid=&xml=/earth/2008/10/15/scitb115.xml)

£2 trillion - Gordon Brown meets European leaders as banking bill tops £2 trillion

Gordon Brown meets European leaders as banking bill tops £2 trillion

Gordon Brown and fellow European leaders will meet within hours to begin attempts to restructure the international banking system, as the bill for saving it reached £2 trillion.
The Prime Minister will join other heads of government - many of whom have followed his lead in taking shares in struggling banks - at a European Council meeting in Brussels today.
During the two-day gathering they are expected to endorse an action plan, agreed on Sunday, that would see nations in the euro-zone recapitalising banks and guaranteeing lending.
But Mr Brown has insisted that the international community must also reform the financial system along more open, responsible lines to prevent a similar collapse in future.
His Chancellor, Alistair Darling, said: "The priority for the European Council meeting is to work with international partners to introduce greater transparency into the international financial system."
His words were echoed by Jose Manuel Barroso, the European Commission president, who will also attend the meeting today.
Mr Barroso said greater co-operation was needed between world leaders to solve the crisis.
"To try and go it alone in this climate would be a fatal mistake for any government anywhere in Europe. This is an unprecedented crisis ... this is something that requires unprecedented EU action," he said.
"An urgent priority now must be to further deepen coordination at international level, and specifically with the United States."
The US authorities followed the UK and Europe by announcing an extraordinary plan to buy stakes in its biggest banks using taxpayers' money.
Although stock market volatility may continue over the next few weeks, City experts are hopeful that the co-ordinated bail-out will finally put a stop to the catastrophic stock market slump which threatened to bring down the financial system.
Stock-markets around the world rose sharply on Tuesday.
The FTSE-100 index has risen by almost 12 per cent in just two days following Gordon Brown's emergency bank nationalisation scheme. It rallied again on Tuesday closing up 3.2 per cent at 4,394. The Japanese stock market posted its biggest ever one-day rise and the American Dow Jones index also saw gains after opening before closing 0.8 per cent down amid continuing fears of a recession.
(source: http://www.telegraph.co.uk/news/newstopics/politics/economy/3199203/Gordon-Brown-meets-European-leaders-as-banking-bill-tops-2-trillion.html)

£400,000 yacht - does NHS trust need a £400,000 yacht?

Does NHS trust need a £400,000 yacht?

Hull's rich seafaring heritage stretches back to 1299, when King Edward I granted the port a royal charter. The city's notable maritime exports have since included a great deal of haddock and a deputy prime minister.
Now a new generation of mariners will be setting sail after the city's primary care trust unveiled a £1.35m project to buy and run a yacht for unemployed youngsters – and, in doing so, sailed into a perfect storm of criticism.
The potential purchase of the 72ft vessel has been lambasted by local politicians as "a complete waste of public money". But its supporters have leapt to its defence, describing its acquisition as a "visionary" plan to help turn around the lives of wayward youths and claiming that it could get 150 jobless teenagers back into work every year.
Health chiefs hope that the 10-week sailing programmes, which will include two weeks at sea learning teamwork, self-sufficiency, plumbing, joinery and how to eat healthily, will improve the long-term prospects of the city's disadvantaged youngsters.
The chief executive of NHS Hull, Chris Long, said that the yacht, which would cost £400,000, would account for just 0.1 per cent of the PCT's annual budget. "I said we would never sort out health problems in Hull until we sorted out the employment issues facing the city. There is an absolute link between good education, good employment and good health."
But Steve Brady, leader of the Labour group on the city council, said the spending plans were unacceptable. "In the current economic climate, I'm amazed our local PCT is even thinking about doing something like this."
While the boat would be bought by the PCT, the maintenance costs would be met by regeneration agency One Hull.
Three months ago, the Hull and Humber clipper came second in the 35,000-mile Clipper Round the World Yacht Race, crewed by a team of 10 unemployed youngsters from the region. Since then, all 10 have gone on to find work, start their own businesses or navigate back into education.
Sir Robin Knox-Johnston, who in 1969 became the first man to sail round the world non-stop single-handedly, said sailing offers a unique lifeline for young people who have lost their way: "Sail training is akin to an apprenticeship. You take these young people and make them face an alien environment. We know it is safe but they don't and they have to get over that. When they do overcome it they start to develop self confidence and belief."
Among those to take part in the race were Sonny Allott, who sailed with the clipper between Novia Scotia and Liverpool. The 20-year-old from west Hull was brought up in care following the death of his parents. "This really opened my eyes. I was amazed I was even there but I knew I had earned it," he said. He now works in London with disadvantaged youngsters.
The new health project will be called the Wilberforce Sailing Academy in honour of William Wilberforce, the leader of the movement to abolish the slave trade who was born in the city and became an independent Member of Parliament for the region. A final decision on the project is expected next month. (source: http://www.independent.co.uk/life-style/health-and-wellbeing/health-news/why-does-an-nhs-trust-need-a-163400000-yacht-961408.html)

38 LTTE cadres, 3 soldiers killed in clashes

38 LTTE cadres, 3 soldiers killed in clashes

Colombo (PTI): At least 38 LTTE rebels and three soldiers were killed in fierce clashes as beleaguered Tamil tigers are reported to have brought in fresh reinforcements to hold back advancing Sri Lankan troops from capturing their stronghold of Kilinochchi.
Fifteen LTTE cadres, including a senior sea tiger identified as Kadalmaran, were killed and a similar number of tigers injured during clashes with security forces at Akkarayankulam in Kilinochchi, the Defence Ministry said on Tuesday.
(source: http://www.hindu.com/thehindu/holnus/000200810141841.htm)

40Mbps- BT names '40Mbps' fibre broadband exchanges

BT names '40Mbps' fibre broadband exchanges

BT has announced that residents of Muswell Hill in London, and Whitchurch in South Glamorgan will be the first to receive its next generation broadband service.
As many as 15,000 users in each area will get the chance to trial the service, which uses fibre-optic cables to link the street cabinets that connect homes and businesses to telephone exchanges. BT claims it will offer speeds of up to 40 megabits per second (Mbps).
The trials, which will begin in summer 2009, have been described by BT as a 'pilot' as the hardware will not be removed once the trial period has ended. However, the telecom giant was unable to give details of the broadband firms participating in the trial and any terms and conditions.
BT said it will run a smaller-scale trial with 30 homes connected to the Foxhall exchange in Kesgrave, Suffolk in early 2009.
The two sites were chosen for their mix of customers and net providers, along with the local communications network and geography. BT will announce further trials towards the end of 2009, with commercial roll-out expected to start in 2010 (source: http://www.pcadvisor.co.uk/news/index.cfm?newsid=105686)

116 councils - £858M in Icelandic banks and more..

116 councils invested £858m in Icelandic banks

The number of councils which invested money in Icelandic banks has grown to over 116, depositing a total of £858m, it emerged today.

WatchDog admited for depositing £10M in Icelandic bank

$250 bln - U.S. to pump into banks, economies struggle

U.S. to pump $250 bln into banks, economies struggle

WASHINGTON (Reuters) - The United States pledged on Tuesday to pump $250 billion into its banks, following similar action in Europe, but data showed the threat of recession has not been banished even if a financial sector meltdown has.
In Europe, major economies showed signs of flagging output and falling business confidence, but smaller countries also suffered acutely. Iceland sought to save its economy at loan talks in Moscow, while its stock market plunged 76 percent.
Under the U.S. Treasury plan, the government will buy preferred shares in qualifying financial institutions, with stakes in each limited to $25 billion.
U.S. Treasury Secretary Henry Paulson said 9 banks described as "healthy institutions" had agreed to accept government stakes for the good of the U.S. economy -- a state intervention unthinkable before a crisis widely compared to the great crash of the 1930s.
"Government owning a stake in any private U.S. company is objectionable to most Americans, me included.," he said. "Yet the alternative of leaving businesses and consumers without access to financing is to tally unacceptable."
President George W. Bush called it an essential step to ensure the viability of America's banking system,"
Federal Reserve Chairman Ben Bernanke promised continued action to stabilize financial markets.
"We will not stand down until we have achieved our goals of repairing and reforming our financial system and thereby restoring prosperity to our economy," he said in a statement (source: http://www.reuters.com/article/topNews/idUSTRE49D4T420081014)

sitemap