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Act now to avoid income tax fine

Darling defends actions over Rock





moneygem Data Summary
  bbc : rss

 Investors urged not to panic but to buy on falls

Investors are being urged to look to the long term – and to buy on weakness rather than panic sell – after high drama in stock markets

 CGT net still being cast

Members of employee share schemes will not be spared higher rates of capital gains tax (CGT) from April this year. Chancellor Alistair Darling introduced a lower rate of 10 per cent for lifetime gains of up to £1m on holdings in trading companies

 Conditions for lending grow tighter across the board

The free and easy attitude to lending that banks and building societies had adopted in recent years ground urgently to a halt and, even into this month, lenders have continued to tighten criteria and back away from riskier deals.

ft : rss
 

 Sandler may add ex-Swiss Re exec to N. Rock team

Britain has lined up Ann Godbehere, former finance director of Swiss Re, to become finance chief of Northern Rock , if the stricken mortgage lender is nationalised, the Financial Times said.

 Swiss Re said to be eyeing Friends Provident unit

Swiss Re , the world's biggest reinsurance group, is considering a bid for Friends Provident's life and pensions business in Britain, the Daily Telegraph said on Tuesday.

 UBS shareholder wants leadership change vote

Swiss shareholder advocacy group Ethos wants shareholders to be given the opportunity to vote for a new UBS chairman, Ethos head Dominique Biedermann was quoted as saying in an interview published on Sunday.

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Markets & Economy

 London sell-off continues as Wall St falls
Shares in London kicked off the week with fresh losses, following Asian markets lower as investors remained spooked by fears of a US recession

 Diageo adds to US wine business
Diageo added to its growing US wine business with the acquisition of Rosenblum Cellars, the Californian vineyard founded by Dr. Kent Rosenblum and his wife in 1978, for $105m

 Standard Life faces awkward questions
Whether or not Trevor Matthews, highly regarded head of Standard Life's UK retail division, stays or jumps ship to Friends Provident, the life assurer faces awkward questions.

 Revamped Singapore bourse in 'strong' start
The relaunched board for high-growth companies, a direct rival to London's Aim, is attracting "strong" interest from Europe and Asia, according to a senior executive

 Early birds could get property worm
The recent rally for propert stocks is a clear sign of a rapid change in market sentiment writes Daniel Thomas

ft : rss
Oil prices slide back under 90 dollars
World oil prices fell on Monday in line with falling stock markets on fears that wider economic weakness could have a negative impact on demand for crude later this year, analysts said.

Kasperczak quits as Senegal coach
Senegal's Polish coach Henryk Kasperczak resigned on Monday a day after his team's 3-1 defeat by Angola at the African Nations Cup finals.

Mali refuse to allow Kanoute to attend ceremony
Mali will refuse to allow striker Frederic Kanoute to attend the African Footballer of the Year award function on Friday if they qualify for the African Nations Cup quarter-finals.

Drogba to collect 50th cap against Mali
Ivory Coast captain Didier Drogba will earn his 50th cap against Mali in the African Nations Cup on Tuesday, determined to improve on a remarkable return of 31 goals at international level.

S African mines idle for fourth day amid power crisis
A power crisis forced the suspension of mining operations for a fourth day running in South Africa on Monday as unions expressed fears the halt in production would lead to large-scale job losses.

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Noyer says up to SocGen to decide on its managers
Bank of France Governor Christian Noyer said on Monday it was not up to him to judge top executives at Societe Generale, but he praised the way the bank had unwound huge fraudulent positions last week.

Global stock markets back in doldrums
Asian and European stock markets fell sharply once more on Monday as investors worried about possible recession and a forthcoming interest rate call in the United States, analysts said.

Kerviel says others broke bank rules -prosecutor
Jerome Kerviel, the former trader at the centre of the Societe Generale fraud scandal, has accused other traders at the French bank of breaking its regulations by trading beyond their limits, the Paris prosecutor said on Monday.

Hong Kong tycoon to settle Dow Jones insider trading case: report
One of Hong Kong's leading tycoons and former Dow Jones board member, David Li, has reached a tentative agreement with US regulators to settle insider trading allegations, a report said Monday.

SG's Bouton says resignation offer remains
SocGen Chairman Daniel Bouton told Europe 1 radio station on Monday that an offer he had made to resign in light of the bank's trading scandal "remained on the table."

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