Barclays (LSE:BARC) saw its adjusted profits before tax in the UK retail and business banking operation to rise sharply at 60% to £1.42 billion compared with £889 million it posted in 2010, figures shown in the last reported fiscal year. Barclays were able to increase profits in the retail and business banking division by 48% from £2.235 […]

Former European Central Bank Vice President Lucas Papademos was named Prime Minister of Greece on Thursday following days of negotiations. Papademos will be sworn in on Friday at 12:00 GMT. His appointment comes four days after George Papandreou agreed to step down amidst turmoil in the Greek government. Addressing his appointment, the 64 year old […]

Italian 10 year bond gross yield was up over 10% on Wednesday as investor fears mounted that the Euro zone’s third largest economy could very well experience a debt crisis similar to that of Greece. Berlusconi Loses Seat Following a crucial victory in passing the budget vote on Tuesday, Prime Minister Silvio Berlusconi is facing […]

Amidst political turmoil in Greece and the G20 summit in Cannes, the FTSE has rallied strongly following the ECB’s announcing an interest rate cut from 1.50 to 1.25%. Commentating on the news Clem Chambers, CEO of ADVFN, argued that: “The tempo of chaos of the Euro debt crisis is rising. With Italian interest rates at all-time […]