Now might be a good time to buy shares. It’s true that the market is currently in turmoil thanks to the situation in Greece and it will be choppy for some time. But, as Goldman Sachs and others have argued, the danger posed by the fall-out from a Greek default and its subsequent exit from the euro may not be as severe as some people fear.
China’s stocks turned into a bear market on Monday, as frenzied selling continued in the country’s bourses despite the Beijing central bank slashing interest rates at the weekend in order to calm investor nerves.
Q | Why is 30 June the moment of truth for Greece?
The deadline for Greece’s bailout expires on Tuesday at the end of the business day and it will owe €1.5bn to the International Monetary Fund (IMF). Even if a deal is arranged, the Greek government will not have enough time to pass all the economic reforms necessary to secure another €7.2bn in bailout funds. Here is what we have learnt in the past few days:
The Greek government has imposed capital controls on its citizens in an attempt to prevent more money leaving the country. But what are the controls that have been put in place and how do they work?
The president of the European Commission, has accused the Greek government of “egotism and tactical and populist games", as attempts to find a solution to the euro crisis faltered further.
Concerns over Greece’s continued membership of the European Union and risk of default after an economist has predicted that there was an 85 per cent chance of a Greek exit, “in the next few weeks”.
A decade after the bulldozers went in to the BBC’s Pebble Mill Studios in Birmingham, the Government is reportedly considering moving the state-owned broadcaster Channel 4 to the Midlands city.
Investors in Imagination Technologies are dreaming of a takeover. Annual results tomorrow for the company which creates the chips that power iPhones and iPads could revive the bid chatter. Analysts at JPMorgan Cazenove expect the FTSE 250 firm to meet guidance with sales of £179.7m, up from £170.8m the year before, with underlying earnings touted to be £21.7m.
Could one in two people really be working for themselves within five years? That’s the prediction of PeoplePerHour, an online platform that matches people looking to get jobs done with freelancers capable of doing them. It says that on current trends, more than 50 per cent of working people will be doing at least some freelance work, even if some of them also have a day job.
British banks have fallen down world league tables for lenders so rapidly that there may soon not be a global-ranked bank in this country, the editor of the industry bible has warned.
“Neither a borrower nor a lender be,” burbled Shakespeare’s Polonius. Few of us take that advice. But it’s worth asking: why? Why do we borrow? To pay for something that we can’t afford today is the obvious answer. And we can all intuitively grasp why that can sometimes be unwise. Borrowing from Wonga at a 1,500 per cent annual interest rate to indulge a taste for Michelin star meals and breaks
Sir Richard Branson and the boss of General Electric UK have made some of the most heartfelt pleas yet for Britain not to leave the European Union.
Greece’s banks will stay shut on Monday in an effort to prevent customers withdrawing their savings and causing the collapse of the country’s already fragile financial system.
Alexis Tsipras says the deal his European partners, principally Germany, and the IMF want Athens to agree to is “humiliating” and “undemocratic”. To “prove” his point, the Greek Prime Minister is organising a referendum on it fully four days after the latest repayment to the IMF falls due. By then, with a run on the Greek banks already well under way, it may be too late anyway.
Given the opportunity to name and shame, Peter Vicary-Smith, the chief executive of consumer champion Which? doesn’t hesitate. Which was the last company to fail him? Step forward energy provider Npower, the incumbent supplier at the house Vicary-Smith bought last summer.
Apple’s new music streaming service will go live on Tuesday after a launch that has been, by its own lofty standards, something of a farce. Initially the company announced that it would not pay artists a dime for the first three months of the service, a decision it reneged on when pop starlet Taylor Swift stomped her feet and got upset about it.
Ask the people – that is a novel idea, isn’t it? And so the Greek people will decide whether to accept the harsh terms imposed on them by Europe, or whether to accept the advice of their government and reject them. If they reject, what then?
Ikea is set to open a set of smaller high street stores across the UK after complaints that the superstores across the country are too remote.
Heathrow has hit back against its rival Gatwick by upgrading its profit forecast and predicting that an extra 300,000 passengers will pass through its terminals this year.
Japanese inflation fell in May, raising the possibility that the central bank may need to step up its stimulus efforts further to deliver its 2 per cent target.
Hang up on shares in iPhone chipmaker ARM Holdings is the message from Bernstein. The broker, which cut its rating on the stock to underperform, warned that the recent slowdown in sales of smartphones might not be a one-off.
The Queen’s state visit to Germany put historic relations in focus this week. As the monarch stood and squinted at a portrait of a royal-blue horse and a figure that was meant to be her father, a small but significant statistic passed most people by.
Dozens more jobs are at risk at Trinity Mirror after the newspaper publisher doubled cost-reduction plans made just four months ago from £10m to £20m.
From iPads and ear-rings, serial retailer John Browett is moving into soft furnishings as the next chief executive of homeware group Dunelm.
HSBC has ended a five-year tie-up with the financial information specialist Markit amid rumours of pressure from the Chinese Government.
Campaigners have hijacked Tesco’s annual meeting with calls to pay its supermarket workers the living wage, amid a shareholder revolt over chief executive Dave Lewis’s multimillion-pound pay deal.
Cyber security was thrust into the public eye last year when a group of hackers managed in effect to shut down Sony Pictures. The attack on the entertainment giant came as it prepared for the launch of the controversial film _The Interview_, which involved a plot to assassinate the North Korean leader Kim Jong-un.
Greece is to hold a referendum on whether to accept austerity measures described as “unbearable” by the country’s Prime Minister.
Ikea is set to open a set of smaller high street shops across the UK after complaints that the superstores across the country are too remote.