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NEW YORK--Wall Street was lower at the beginning of negotiation Tuesday, as investors concerned by the crisis current debt in Europe and digested new optimistic about U.S. consumer confidence.

The Dow Jones industrial average fell some 100 points in the course start, falling below 11,000 psychologically significant.

But the market has been recently prune its losses soon after the monthly survey of the Committee of the Conference of the consumer confidence showed confidence of the American economy is passed in November at the highest level in five months.

Reading is an encouraging sign at the beginning of the holiday shopping season. But confidence is low as u.s. grapple with high unemployment rate.

The report, published in the course of early shows that US consumer confidence index now resisting 54.1, involvement of 49.9 revised in octobre.Les analysts expected to 52, 0.Novembre reading marks the highest point since 54.3 June.

Economists carefully monitor confidence because consumer spending accounts for about 70 percent of U.S. economic activity and is essential to a strong recovery. It takes a reading of 90 to indicate a healthy economy.

History: Home prices fall in most metropolitan areas more quickly

On the European markets were also lower and the euro fell briefly below $1.30 for the first time since mid-September, as traders expressed concern that Portugal or possibly the Spain will require external aid to deal with their debt.

To open it, a new report showed the price of single-family homes fell in September, more than twice as fast as expected in the months before, while compared to the previous year prices have increased more slowly than expected, according to a widely viewed in the United States index prices published on Tuesday.

New businesses, Baldor Electric Co. shares jumped after that Fort Smith, Ark.-based manufacturer of industrial motors.said he agreed to be acquired by based at Zurich ABB Ltd. to $63.50 share, well above course Baldor $45.11 Monday closing.Baldor changed hands for $63.06 in prior ecommerce.

Google Inc. shares decreased by 1% to $576.20 after that regulators prior negotiation European launch an investigation to determine if the company has abused its dominant position on the market b.c online search ' is the first major probe in the giant online business practices.

Barnes & Noble Inc., most large traditional book seller nation, is scheduled to report its second fiscal quarter earnings before the market opens.

Abroad, the concerns that Portugal or possibly the Spain will require external aid to deal with their debt continued to worry investors .the ' euro fell briefly below $1.30 for the first time since mid-September .the Asian markets fell on the growing expectations that China will have to increase the rate of interest to keep inflation in check.

European markets were mixed .the ' key actions British FTSE 100 index was down 0.2%, while the DAX Germany increased 0.2 the Japan %.Nikkei fell 1.9% and Hang Seng fell Hong Kong 0.7%.

The Associated Press and Reuters have contributed to this report.

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NEW YORK – Trust Americans has increased to a maximum of five months in November in the middle of the most promising signs for the economy.

The report provided some comfort at U.S. retailers during the holiday shopping but shoppers remain pessimistic as they grapple with a high unemployment rate.

The Conference Board, a private research group based in New York, said Tuesday that its consumer confidence index increased 54.1 in November, a 49.9 revised in October.

November is the highest since June, when the index stood at 54.3.Economists polled by Thomson Reuters should 52.0.

A classic vacation consider indispensable toys that transformed normal parents in thriving détritivores.OH and what they are now on eBay. Your career: surviving the feast of the Office of the party that $500 K gets you housing everywhere in Life United States Inc.: mittens can be new Tickle Me Elmo

Index of September is the lowest since February and was in sharply from 53.2 in August.It takes a level of 90 to indicate a healthy economy, which has not been contacted since the beginning of the recession in December 2007.

Is one of the components of the index that Americans now believe economy, passed to 24.0, maximum 23.5.Another gauge that measures the American how touch the economy over the next six months, passed to 74.2 of 67.5 last month.

"Consumer confidence is now at its highest level in five months, a welcome sign that we enter the holiday season," Lynn Franco, Director of the Conference of the Consumer Research Center, said in a release."Evaluation of consumers in the current state of the market economy and employment, as only slightly better last month, said the economy while is still expanding, although lentement.Nous hope that improve the mood of consumers continue in the coming months.

Index, which measure how respondents felt on commercial terms, the labour market and the next six months, has recovered expands since hit lowest 25.3 in February 2009.In October 2009, the index stood at 48 7.Depuis, it has oscillated in a tight between the mid-1940s and 50s upper range.May 2010 was one month when the index topped 60.

Economists carefully monitor confidence because consumer spending accounts for about 70 percent of U.S. economic activity and is essential to a strong recovery.But a labour market bounce is necessary for buyers to look like in spending.

History: Home prices fall in most metropolitan areas more quickly

There has been some encouraging signs.Income Americans rose 0.5% % in October, boosted by a 0.6% increase in wages and salaries, according to a Government report released the month last .c ' after revenues has any rise in September.

At the same time, slowing the pace of updates pied.Les initial jobless claims fell 34,000 a 407 000 seasonally in the week ending November 20, said the Department of the travail.revendications fell in four to six weeks.

Meanwhile, housing remains a drag, underlined by the last published report mardi.Prix real estate are going down faster in the cities of the country, and a record number of foreclosures is supposed to push prices even by next year, according to a widely watched housing index.

Standard & Poor s/case-Shiller 20-city home price index fell 0.7% in September to August Dix-huit towns recorded monthly price declines.

? 2010 The Associated rights Press.Tous réservés.Ce hardware cannot be published, broadcast, rewritten or redistributed.

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1990: Great Britain joined the ERM.

1991:European leaders signed the Treaty of Maastricht, definition of the European Union (EU) and urges countries that secures the opt-out for the United Kingdom EMU John Major.

16 September 1992: Black mercredi.La Britain is forced to withdraw sterling from the ERM, after he was unable to maintain sterling over the agreed limit.

1995: European leaders agree to call the new single currency, the euro.

1997: Newly elected Chancellor Gordon Brown said that the Government is pro-euro in principle but should pass "five economic tests" before the holding of a referendum on the issue.William Hague, announces that the conservative party depart to join the euro at least two parliaments.

On January 4, 1999:The euro was born in 11 of the 15 Member States and trade starts at $1.1747, reaching a maximum of $1.1906 on the same day.The United Kingdom, the Sweden and the Denmark remain out of the currency unique.La Greece is initially excluded due to the weakening of the economy.

December 2, 1999:Euro below parity with the dollar for the first time.

On October 26, 2000:Euro hits a record low of $0.8225, 30pc below its value launch.

On September 22, 2000:The European Central Bank with the central banks of the United States and the Japan intervenes in foreign exchange markets to support the value of the euro.

September 11, 2001 - the terrorist attacks against the United States sees lower to $0.90 euro.

On January 2, 2002:Euro banknotes and coins become legal in 12 countries of the euro - zone the Greece is the twelfth member.

On June 28, 2002:Euro rises back above $1.00.Pressure on the dollar intensifies after months of concern from the Enron of WorldCom accounting scandals.

On June 30, 2004:Fed raises rates by a quarter of a record low 1% percentage point, the first of a series of walks that take rates as high as 5.25% in June 2006.Euro closes on $1.2185.

February 27, 2008:Euro trades above the psychological key $ 1.50, barrier after the President of the Federal Reserve, Ben Bernanke marked that the Central Bank was ready to cut rates again in front of mounting risks to economic growth.

Fall 2008:Lehman Brothers bankruptcy, while the leasing of government insurer stolen AIG.Investisseurs safe-haven status of the dollar and a minimum of 1.2328 yen.Euro files $ 1.4825 28 October $ September 22.

6 May 2010:Euro falls to a 14-month low of $1.2510 as the debt contagion risk Greek rock crisis markets mondiaux.Tombe to a minimum of four years against the dollar on May 17 at $1.2234.

30 November 2010:Euro drops below the mark of $1.30 for the first time since mid-September, as fears about the crisis of the debt of the euro area.

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Robert Chote earned a formidable reputation at the Institute for Fiscal Studies, where he dismembered budget after the budget. When George Osborne, the current occupant of 11 Downing Street, decided to establish an independent forecasting was so that a single candidate for the role of the permanent President. The question was that a quango employment would gag Chote or give Osborne credibility it looking.

Chote was alive to the concern Monday, present prospects first sound economic and fiscal Office for budget responsibilities (OBR), emphasizing the right at the beginning there has been no interference of Ministers .c ' is necessary because what he will unveil statement will be provided a broad smile face the Chancellor.

Overall, economic growth over the next six years will be higher than the interval that OBR predicted in June.Public job cuts will be less than forecast, 330 000-490 000 a previous forecasts revised 460 000 after a few changes to the methodology of 130 000.Le Government pay ￡ 18. 6bn less interest debt during the next six years. And expenditure generated October review a. additional 5bn ￡ 1 recipes.

Overall, the Chancellor has a better chance in June to hit its target of eliminating the structural deficit of ￡ 109bn and get public debt as a percentage of GDP decreased by 2016. "The plan is working," Osborne applauded in Parliament in the fall after the OBR report was released.

Good news it may be, but there are still obstacles to climb.Should Ireland switch in political turmoil, it will impact - although if the bailout, the share of ￡ 6 the United Kingdom catch will have little effect on finance publiques.Une percentage point increase in government borrowing rates or inflation would add ￡ 15bn Act interest debt over five years - effectively decimating gains low current rates. An increase in the salaries of public sector mean civil servants losing their jobs.

Most obscure of all, if the OBR abusing its estimate of how detached capacity in the economy (the pent-up productivity which can be freed once the economy is once more stable), and then the Chancellor will miss its target.The OBR believes the United Kingdom has 3. 25pc capacity reserve but, if the actual number is 1. 75pc, it is "more likely that the mandate will be missed".

Although the overall number is unchanged, several minor adjustments there.Corporate tax raise ￡ 5 United less than expected in June 2015 but VAT will generate a. additional 7bn of ￡ 5.Stamp duty will be to ￡ transmitters less in 2014 and 2015 due to slower growth of prices and continuous reduction credit.

On the other hand, spending on public pensions and social security benefits in 2015 is expected to be ￡ 9. 7bn less than previously forecast just ￡ 3 making save on interest paid on total Government ￡ 1.32 trillion year debt list.it overall expenditure review reduced spending by 800 m ￡ and increased revenues by 700 million of ￡ in 2014.

The profile of the deficit reduction has not changed, fall ￡ 148. 5bn to ￡ 18bn between 2010 and 2015 compared to forecast June a fall from ￡ 149 billion to ￡ trends.debt as a percentage of GDP follows a trajectory similar to prospects in June, reaching 69 7pc in 2013.

Some economists said the OBR is overly optimistic in its growth prospects who admitted Chote is greater than the more independent forecasts - bar the Bank of England .but there is no reason to believe he went into doux.Osborne can this chalk as a rare endorsement.

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The city is a source of highly paid jobs and significant tax revenue. The city of Westminster should care more about the city of London Photo: Rex Features

His failure to forward a white paper growth is disappointing, but not a setback fatal.Cela said, re-announcement of Chancellor Monday of so-called "patent box" tax break on intellectual property, that Alistair Darling revealed in pre-budget report a year ago, was lame, including the$ 500 million to ￡ even by GlaxoSmithKline.

Nevertheless, a root and branch review how different departments can be released in the private sector to generate growth in time for the March budget is an opportunity not to be missed.

But a necessity along the path of growth for the country is finally for the Government to abandon its opposition damaging and counterproductive more and more to the City of London.International financial services won't stop it, they just leave London for a variety of other sites, drainage of the country of his single greatest competitive advantage.

The city is a source of highly paid jobs and income tax importantes.La Westminster City should worry more about the city of London.The loss of only two companies to hedge funds, Brevan Howard and BlueCrest Switzerland is estimated to have Treasury 500 million pounds per year in revenues lost by rivals who have so far remained highlighted in London.

Support trade, export and recovery driven by investment by all means, but denigrating what economic basis, we left is folie.certainement within a period of 15 years that we do not want to turn round and see what were the 1 m jobs in financial services to, for example, 800 000 when it should have been m 2, taking into account the growth sector elsewhere.

Politicians are short term but United Kingdom remains a long-term project that requires decisions of 20-25 years to .rendre here today becomes less attractive.

Damian.Reece@Telegraph.co.UK

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The answer to the first question is-despite Irish bail failure to curb the wave of enlargement gaps - just click Yes. A sort of euro emerges the other side of the crisis, but precisely what shape is anyone's guess.

We already know that the single currency cannot and do exercise as actuelle.Plus is apparent in the France proposals and the Germany announced with the Irish bailout for the sharing of expenses by the holders of the future debt crisis.

On the other hand, complete syndicate does seem a game very probably late either. There is no appetite for this Germany - or indeed almost everywhere in Europe - and since all such European unique feature of the Treasury Board should indeed be underwritten by the German taxpayer makes a non-démarreur.

Markets, if politicians are not yet, by default now seems almost inevitable in some or all the fringe of the euro area economies. Even a quick glance at the position of the financial situation of the bailout Ireland immediately tells you why.

Taxes projected 2014 €36bn, the approximately €with - or about 28 per cent - will be consumed in maintenance of the holders of bonds, with little luck, as far as I can see, charge interest being reduced to manageable levels for many years thereafter.

Just to put in context, latest forecasts of the OBR fielded rather less than 9% of UK 2014 of the debt of the United Kingdom Government revenues. Much more than 15% marks that agencies scoring sometimes call the point of no return, where interest begins to compound and opportunities to reduce public debt thus become near impossible.

In addition, starts holders require maintenance as these large cuts in social and tax programs rises reached the limits of the democratic acceptability and quickly becomes a case of "can't pay, will not pay". regional results and by-election and Spain Ireland already pointing to such a result.

Then if the sovereign debt restructuring is inevitable, what is that going to do in the UK?Default Ireland, the Greece and the Portugal is very manageable for banks United Kingdom .Royal Bank of Scotland, for example, has already written on its Ireland loans by autour a semester. If the potential loss is greater, current capital buffers should be sufficient absorb the it. As for the Greece and the Portugal loans, it is not big enough itself to inflict major damage.

Default Spain be larger much much, perhaps requiring that certain other recapitalisation of banks in the United Kingdom.Even with the Lehman collapse, the main default with messy problem is not so much damage directly to the creditworthiness of counterparties as the blow he inflicts on general market confidence, businesses and consumers.

Until now, collapse in sovereign debt markets has surprisingly little impact on the real economy to the grieving periphery.Germany is flourishing once again, the Sweden yesterday announced quarterly growth figures indicators for the euro area together continue to seek to encourage, lead and here in the UK, according to the OBR, recovery remains on track.

Moreover, the OBR has reduced its forecast of public this House of 490-330 000 job losses.It all seems almost too good to be true.Unfortunately, it may well be.As readily acknowledged the OBR, there are many things that could not go.

Today is the most important of these threats as the eurozone spills debt crisis in the real economy, poleaxing continental application and thereby undermining still look very optimistic assumptions by the OBR on the ability of the UK economy to rebalance away from consumer to trade and investment .Sans net growth in Europe, which will not occur.

However, the main threat to recovery of the British Columbia Colombia isn't so that Europe is then unable to make markets for our exports as that its sovereign debt crisis eventually infecting too much of our own debt markets.

Yes, Britain must rebalance toward net Commerce, but for the moment that his recovery is supported by a relatively resilient consumption, which in turn is supported by an ultra - accommodative monetary policy lekeage must continue for a period of time.

Nothing would kill off the coast of British Columbia Colombia recovery as certainly as interest rates sorting this rule on the European fringe now if UK workers can feel yet quite insecure about their jobs, low interest rates make reasonably confident about their debts.

If the Spain rendered, there is a clear risk that markets would come to United Kingdom ensuite.Qui makes essential coalition organizes its nerves on the reduction of the deficit and does not use the slightly better prospects for public finances as an excuse to peddling European mous.Les have little choice but to you the best of a bad job with the euro it finish with fiscal union but a form of imprisonment fiscale.Ceux who cannot live with the core economic disciplines will find trapped by interest rates permanently more élevés.Une brutal punishment indeed.

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Initiative, doing business together (DBT), led by the CBI and approved by Vince Cable, the Secretary of the company is supposed to deployment in tent city to restore relations working with small and medium-sized businesses nationwide.

Chris Poll, the founder of the German Bundestag and CEO of Creditpal, a monthly automated software accounts Office, says many companies converge on the Chamber of commerce of Richmond Friday were nerve.

They thought that either they do not receive a fair hearing of their bank or insurance company, or that they were yet to tackle the impact of trade conditions difficult and it was not in their best interest to be transparent, he said.

"They are afraid to talk to their banks." "They don't want muck until they have", said Mr. Poll. "But that hides an ineffective way of companies running. Accounts are being filed that reflect the bottom of the marché.Les banks will participate if they understand the business. ?

His point of view has been taken up by Jamie Young, Director of Feist Hedgethorne, providing finance directors time partiel.lors a recent debate organized by vendor finance finance Venture, he said: "I have clients were relatively modest ￡ 30,000 to 40,000 ￡, bank overdrafts which are the subject of small amounts of growth", he explains."They were concerned about the Bank's approach in cases where this discovered gets reduced.?

David Brockhurst, a senior KPMG means market debt Advisory Group says banks treat links between managers of the Bank and credit committees but was handicapped by the lack of financial information on small business.

Anne Newton, Chief Executive of the Richmond House, will launch the first record of mentors, part of an initiative supported by the Government to encourage business people more experienced to share their expertise with young entrepreneurs.

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When the American company athletic clothing under armour missed goals of revenue in 2008, Chief Executive Kevin Plank slashed his annual salary of $500,000 (￡ 321,000) $ 26 000 (￡ 17,000). "There was a feeling growing animosity towards managing both," remembers Plank. "It was all a distraction as anything else."

While skeptics would point to six-figure bonuses Plank attached to the performance of enterprise income each year, cutting its own guaranteed compensation meant so badly that the 38-year old can only be rewarded with improved performance .c ' is something that many on both sides of the Atlantic would have liked bankers at the time but Plank insists that the move was as much to do with caution, as it did with demagoguery, with other senior key also requested to share the pain.

"We were going through growth, our systems were not up and running and we knew that we could do a better job." We had several quarters of figures triple inventory growth and we we had been in a difficult position in espèces.Nous said "we are going to do a better job and we're going to improve the balance".A difficult moment, everyone thinks that the world was ending. ?

Baltimore company expects to achieve revenues of more than $billion this year and is now in a much stronger cash position. There is also a European expansion seriously, and while its European headquarters in Amsterdam, Plank said that the UK would be a "market for world trade, that we are building Foundation.

Board, an American football from the former College of the University of Maryland, established the company in 1996 with $16,000 in cash and another $ 40,000 on credit cards.Its grand plan was ban humble cotton T-shirt sports professional players have traditionally conditioned port under the colours of the team by selling a shirt fabric "the moisture-wicking" hugged the figure and discard the sweat instead of absorbing it. Society, which began trading in the basement of her grandmother, now sells a range of an array of sports, sportswear but insists Plank success needs as much caution as it does to take risques.Sa initial growth was slower that the overall number suggests, he says, and 90pc of its income always come from the North American.

"Our goal is to be a global brand." "Half of our income should come from outside our pays.Nous are far from doing that occur", says Plank, which only sold more than a million of its shares in the company for purposes of "succession planning and charity".

He said that the UK will be largest market for the company in Europe.Its products are already stored in UK 775, stores and was particularly successful with golf players, with Plank claiming clothes is stocked in 80 100 top courses of the page.Il says consumers here is beginning to see a more active presence marketing business next year. "If this is a panel display or a television advertising, we have not done a good job of it yet but we have focused on what is happening."

A certain conservatism remain, however. "There are three ways that brands can expand beyond their core market: new categories of products, new classes of distribution, new geography." Most companies get in trouble trying to be too fast. If it is in times of war or in the enterprise, spread too thin is where most of the failures.

Half of sub products shielding is manufactured in Asia, and the company already has a strong presence of retail in the Japanese market. Only required to build time which is a source of inspiration "caution" to sell to Chinese consumers too. "We have built a company of 100 m $ to Japan, which tells us that our brand reflects. But it took ten years to do so. We spent eight years ranging from $ 0 - 35 new good m.La is that the company is only 14 years old and would last much longer than me. We have the opportunity to do this for a very long time.While we are excited about what owns China, we must find a balance to protect what we have.?

The growth of the company in each territory has widely hunted by the adoption of the mark by children.Windsurfing is a loss to explain, "if I could express themselves in a bottle, I would be a really smart guy") but points out that it is practical because "it is difficult to convince a 45 years to stop bearing a mark and start wearing ours."

Unsurprisingly, Plank enjoys sponsorship deals with star players, but it is typically dismissed on who gets signed: they must be real users and enthusiasts of the product and, more fundamentally, not profitable too. "Now that we've crossed ￡ billion, the worst thing we could do is think that we are a big company now too.If we the checkbook checkbook against other brands, they have much more resources and lot more money than us.?

Football Premier League in particular, be critical awareness of the mark in the United Kingdom and company discusses Bobby Zamora of Fulham and Paul Robinson Blackburn.Une case kit - as one there with the Welsh Rugby Union to provide national team - kits with a great football club would be attractive, Plank conceded, but quickly adds: "we're not just a licence.Si company we want to be profitable requires a little more thoughtful than."

Sufficiently ambitious vision for the company - which emphasizes its products with an element of "return material" such as his "recovery following ', compression garment company claims can speed recovery after exercise - is that it will be a version of the Intel chip clothes." ""When I said that I wanted to call my Performance Armour, said that he looked like a set of pneumatiques.Maintenant performance apparel company became the word most cliched in the monde.Si we really do our work, we would be part of a label which says 10pc Lycra 15pc poly, 7pc as blindage.Chacune brands can use it.?

Meanwhile, the company will focus on its careful expansion and the diversification.Il simply added basketball in its range of products in its domestic market, for example.

"Many people have bet against us over the years we stand up and go to work every day to strike this chip off the coast of our épaule.Vous could bet on someone else to win in our space, but I would not bet on us lose."

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Regulators are investigating whether Google intentionally lowered the classification of its rivals in its search results. Google has denied all the allegations.

"The European Commission has decided to initiate an antitrust investigation into allegations that Google has abused a dominant position in the search online", stated the EU Executive.

Regulators are investigating whether Google intentionally lowered the classification of its rivals in its search results.If found guilty Google could be fined up to 10pc of its annual revenues of $23. 6bn.

In February, The Daily Telegraph revealed that three companies research small had filed complaints with the Commission.Foundem, a British Columbia Colombia and ejustice.fr price comparison site, French legal search engine, complained that Google had deliberately demoted for their websites in its ranking search results.

Ciao!, a German online shopping portal owned by Microsoft Bing!, it is also lamented how Google sells ads.

The Commission stated that it was investigating complaints of rivals "alleged adverse treatment of their services in the results of research not paid and sponsored by Google coupled to a preferential placement of Google services".

Shivaun Raff, CEO of Foundem, stated: "[Google] rotates a facially neutral an incredibly powerful marketing channel of their own search engine."

Google has denied all the allegations.

"Since we started at Google, we have worked hard to do the right thing by our users and our industry - ensure that ads are always clearly marked, making it easy for users and advertisers to take their data with them when they services and invest massively in open source,"Google said in a statement."projects".

"But there will always be room for improvement, and if we are going to work with the Commission to respond to concerns."

While the Commission could fine Google until $2, a fine of this size is probable.Son large anti-competitive fine has €1. 06bn (￡ 930 m) levied against Intel in 2009.

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Mobile operator Wednesday allow customers to surf the web on their mobile in Europe for ￡ 2 per day. Vodafone, said the flat tax of 25 MB of data represents a 60pc save existing pricing.

Customers who signed contracts in excess of ￡ 40 a month can access 25 MB daily access equivalent to checking Facebook 500 times per day, for no extra charge.

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Proving the only winners yesterday were Barclays gaining 3.15 to 262.95p and HSBC putting on 0.3 to 651.4p.

Even the drug makers were feeling under par, with Shire falling 45p to ￡15.22. GlaxoSmithKline and AstraZeneca shed 36p to ￡12.24? and 50p to ￡30.23 respectively.

Shire's slide came as analysts at Jefferies cut their rating to “hold” from “buy”.

Although Shire is on course for strong earnings-per-share growth, which analysts said made Shire one of the most attractive global pharmaceutical stocks, the broker thought this growth spurt was already priced in.

They also highlighted risks that could curtail ongoing performance for Shire, which has recently gained market share thanks to production problems at its American rival Genzyme.

Analysts pointed out that Shire’s manufacturing capacity is constrained until its new production facility in Lexington comes online, adding that there is uncertainty over when this new site will be approved by the regulatory authorities.

Amongst other risks faced by Shire, according to Jefferies, is a Food and Drug Administration review of cardiac safety in relation to attention deficit hyperactivity disorder drugs, due in the first quarter of next year. However, the broker added that it expected the outcome to be “relatively benign for Shire”.

In terms of opportunities for the company, analysts pointed to the chance to break into the attention deficit market in Europe - an opportunity which they said was “largely untapped by Shire”.

Elsewhere, Aim-listed broadband satellite operator, Avanti Communications, hurtled up 72p to 725p after announcing the launch of its HYLAS 1 satellite. Analysts at Daniel Stewart said the launch “effectively launches Avanti itself as a satellite- based communications provider rather than a start-up”.

3.15pm: Weak start on Wall Street sends FTSE 100 further into red

Europe's debt crisis infected sentiment on the other side of the Atlantic too, with the Dow Jones Industrial Average losing around 136 points to 10959.06.

Hewlett Packard and McDonald's were amongst the biggest fallers in the US, while Amazon ticked up after the National Retail Federation reported a 6.4pc rise in retail sales over the Thanksgiving holiday weekend.

But news of ringing tills failed to rouse the markets on either side of the Atlantic. With Wall Street on the slide, the FTSE 100 continued on its downward trajectory, shedding around 90 points to 5578.16.

2.30pm: HSBC amongst few stocks on the ascendant

HSBC climbed up a brief leaderboard, gaining 4.9 to 656p as the wider market fell back. The FTSE 100 slipped further into negative territory, shedding around 69 points to 5599.74.

HSBC's rise came despite a downgrade from Ian Gordon, an analyst at Exane BNP Paribas, who cut the bank to "underperform" from "neutral".

Mr Gordon described HSBC as a "safe port in the storm", but asked "perhaps time to edge back out to sea?"

He said that as HSBC had outperformed the other banks during the recent sector pull-back, there were now more “enticing entry levels” offered by Lloyds, Barclays, Deutshce Bank, the French banks “and even RBS”.

Topping the leaderboard, however, was TUI Travel. The holiday operator, which is due to unveil full-year results this week, said it was selling its Thomson Al Fresco business to Homair Vacances. At September 30 last year, the net book value of the assets was ￡10.3m.

Elsewere, Costain slid 11.25 to 198.75p after the construction company said it was in talks with contractors over the financing of an energy-from-waste facility in London after one of them filed for insolvency.

Analysts at Panmure Gordon said:

"The insolvency of the Swiss operator AE&E Inova is unhelpful for the completion, and payment to Costain, of the Belvedere waste to energy plant. Further clarification of the situation is needed before we do anything to our numbers. UK energy policy remains high on the infrastructure agenda; we hope that a sensible solution is found to ensure ongoing sector activity."

12 noon: Resolution caught in the bears' clutches

Resolution was amongst the laggards thanks to a bearish note from JP Morgan Cazenove. The broker started coverage of Clive Cowdery’s insurance buy-out vehicle with an “underweight” rating and a 254p target price.

“While we acknowledge that the poor share price performance of Resolution since launch in 2008 (down 41%) has left the shares undervalued, we think that there are much better stories elsewhere in the sector,” said analysts.

Last year the company bought Friends Provident and in June, Resolution clinched a deal to buy AXA’s UK life insurance businesss.

“We see some industrial logic for the AXA / Friends Provident combination but still think the combined group is one of the least attractive of the listed names from both a cash flow and operating perspective. We see the AXA asset as having the inherited estate (i.e. capital) but less attractive earnings capacity ex this,” said the broker.

Resolution shed 5.7 to 219.4p while the FTSE 100 pared back some of its losses, falling around 15 points to 5653.8.

However, the banks gained some ground in the wake of the Irish bail-out with HSBC putting on 13.3 to 664.4p and Royal Bank of Scotland rising 0.49 to 39.18p.

The FTSE 250 also lost around 15 points to 10793.95. Bucking the trend was Punch Taverns on speculation it could hand over almost 6,000 pubs in an attempt to reduce its ￡3.1bn debt pile.

Analysts at Liberum Capital, who have a "hold" on Punch, said:

"This suggests that new CEO Dyson may withdraw support to the entire tenantedbusiness and hand the pubs over to bondholders.

"This would mean retaining the PLC cash (c40p per share) and diverting it to improve managed pub business (Spirit). This could be worth >40p per share, albeit this is a very subjective valuation."

Punch gained 3.5 to 62.6p.

11.10am: FTSE falls back on debt contagion worries

Having made early gains, the FTSE 100 headed south as the morning wore on. The blue-chips shed around 24 points to 5644.11 as debt contagion worries persisted.

Ben Critchley, a sales trader at IG Index, said: "It’s no secret why investors are still nervous - the worry is that Ireland won’t mark the end of the eurozone crisis and with the economies of Portugal and Spain looking less than robust markets are worried that we could be talking about potential bailouts once again in the not too distant future."

9.30: Irish bail-out gives blue-chips a lift

Royal Bank of Scotland, which is exposed to Irish debt, rose 3.6pc. Barclays, Lloyds, Standard Chartered, HSBC also gained.

The FTSE 100 was up 46 points - or 0.8pc - at 5715 in early trading.

Shares in software firm Autonomy dropped 0.8pc, after falling as much as 9pc last Wednesday when it said talks on a deal it is pursuing had given rise to an additional opportunity, which may cause a delay in its timetable.

Asian markets were mixed in light trading on Monday as they waited to see the impact of a bailout for Ireland and amid caution ahead of a slew of economic data from the US this week

Oil prices rose above $84 a barrel as investors looked to this week's key jobs report for evidence that the US economy is imporoving. Manufacturing, vehicle and retail sales figures for November will also be released, along with factory orders for October.

In currencies, the dollar was up against the yen and the euro.

Tokyo's Nikkei added 0.8pc to 10,125, buoyed by a stronger dollar. South Korea's Kospi fell 0.3pc to 1,895.52 and Australia's S&P/ASX200 gained 0.4pc, to 4,618.

Hong Kong's Hang Seng was almost flat - up just 0.06pc at 22,890 - as were exchange in mainland China.

Also helping ease market tensions was news over the weekend that the European Union had agreed to €85bn in bailout loans for Ireland to help it weather its banking crisis.

The rescue deal means two of the eurozone's 16 nations have now come to depend on foreign help and underscores Europe's struggle to contain its spreading debt crisis.

The fear is that with Greece and now Ireland shored up, speculative traders will target the bloc's other weak fiscal links, particularly Portugal. Underlying all those concerns is that the contagion would spread to Spain, a major economy whose implosion would have serious repercussions for the euro.

Worries about an escalation between the Koreas weighed on some stocks. Joint military exercises involving a nuclear-powered US aircraft carrier and a South Korean destroyer continued on Monday, nearly a week after a deadly attack on a South Korean island sent tensions soaring in the region.

Britain's FTSE 100 index is seen rising as much as 0.4pc - or 20 points - on Monday. It closed down 30 points at 5668.70 on Friday.

In New York on Friday, the Dow Jones fell 95.28, or 0.9pc, to 11,092. The S&P 500 index was down 8.95, or 0.8pc, to 1,189.40. The Nasdaq composite index fell 8.56, or 0.3pc, to 2,534.56. Overall, stocks ended the week mixed. The Dow ended 112 points lower, and the Standard & Poor's 500 index lost 10. However, the technology-heavy Nasdaq composite index gained 17 points for the week.

Monday's Market Report:

Malaise grips markets as FTSE 100 loses 2pc

Friday's Market Report:

Cold front ahead for retail sector, analyst warns, as FTSE 100 slides

Tools: Shares and Markets: News, charts, data

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A sale or partnership with the giants of the internet such as Yahoo or AOL were two or more options under consideration.

Chase Carey said Chief News Corp., operating as media giant actively studied the sale of the social networking site that he bought for $580 million (￡ 373 m) in 2008.

Mr. Carey said a sale or partnership with giants like Yahoo or AOL Internet, two or more options under consideration.

"There is possibilities make the 20 things [MySpace] but that does not mean that you will make 20." "If there is something there logic you should think", he said.

Mr. Carey, who already described losses of MySpace as "not acceptable or sustainable", refused to set a deadline for the social networking site go back to profitability before he go ahead with a sale. ""I am not going to take to break [number of] neighbourhoods", he said. "It is not years... we have to deal with this emergency.?

Mr. Carey said the company engineers had a "very good job" to redesign MySpace to better match the Facebook market leaders and Twitter.Il said that he would be "difficult" to sell MySpace before the reorganization.

MySpace was briefly evaluated billion $ when News Corp tried to merge with Yahoo in 2007.

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On a ?1 000 British travellers spend money currently receive an extra? 50 – who will pay for more than a few gluveins slopes.

Versus a year ago, they will now find their books are purchasing more euros, helping them to make their vacation money stretch further.

A spending ￡ 1,000 British travellers currently receive a €50 - extra pay for more than a few gluveins slopes.

But those who travel in Europe next year should not buy their month of money in advance to take advantage of the favourable exchange rate.

Many expect the euro to weaken further, for those wishing to buy euros for the next vacation will want to take off at présentent.Mark Bodega, a spokesman for HiFX said: "the good news for people who need to buy euros in the coming year is the recovery value of the book but progressive continues."

"Form that in the United Kingdom proved stronger that many had anticipated and has contributed to the pound sterling for récupérer.Si economic activity recent economic picture remains floating in the following year, he should continue to restore confidence in the economy and, consequently, pound sterling.".

He added that the problems with the countries of the euro area are probably decreasing in the near future, which will keep the euro on the book and the dollar.

"In particular the situation of the debt to the Portugal, Ireland, Italy, Greece and Spain will weigh on euro in 2011 - and perhaps beyond."

Few can second guess currency, especially as they are often more volatile than grants.

Mr. Bodega admits that there are a number of "unknown", including if the Bank of England prints more money to increase bank lending, and if interest rates will move next year.

Expert travel with moneysupermarket.com, Bob Atkinson, explains: "for those who travel regularly pays to keep an eye on the movements of devises.Si euro weakens significantly or gatherings of the pound sterling, and then you can take the opportunity to buy euros for next summer."

However, given the amounts relatively small people take abroad, the crucial factor is to avoid office expenses and punitive exchange rate, he said, adding that ordering online in advance is usually the best option.

These waiting at the last minute and buy their currency of high street travel agents or an airport Office of change will almost always be worse, as costs are likely to destroy the pound sterling and the euro-friendly movement.

Prepaid - cards that allow load euros on a card - can also be a viable option and enables you to load money on days when pound strengthens.

These can then be used abroad, to pay for goods in shops and restaurants or withdraw money by distributeur.Les machines to do this are usually very competitive use of credit cards and debit cards abroad.

According to moneysupermarket.com, cheaper cards on the market are CaxtonFX and FairFX.

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Mr. Prisk has best short regulations to the Department for business, will attend also through reforms of the health and safety regulations that the former premier Advisor business recommended in October.

Institute of Directors said she is disappointed by the Prime Minister had not appointed an another "business czar" to conduct independent reviews of the obstacles to the growth of enterprises and jobs.

Miles Templeman, Director General, said: "Lord Young mandate was beautiful and specific."Someone was going to do and we receive feedback from the .Maintenant, he went into the hopper of regulation général.Nous hoped that they would appoint someone, businessman, to do so.?

It is Vince Cable committed yesterday to Whitehall force tackling unnecessary regulations in his "growth review" with the Department of decision to tell companies to feed facilities in plans to encourage new mothers breast health.

Mr. Templeman said: "if they are going to look in all areas that they have to stop the flow of all these initiatives .the ' intention is there, but they have to make it useful."

Phil Orford, Executive Director of the Forum of private business, said: "it would have been nice to see clearly the independence to the consideration of the right to work and bureaucracy, but it is important to note that the Government is taking it seriously and wand passée.Nous hope that Mark Prisk give this important question the level of attention he needs."

Lord Young resigned earlier this month after causing a political uproar after saying that many people had benefited from low interest mortgage rates in what he scored a
"what is called recession."

The commerce Department said yesterday the Government "took measures to reduce disproportionate burdens imposed by speaking health and safety regulations" and Whitehall departments have been reviewed in labour law "to ensure a maximum flexibility, to protect and promote competitive equity."

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A few hours after that investors BA voted more 99pc actions in favour of the agreement, the Union Unite accused company UK "a vicious war against its workforce" and said that he would be Bulletin 11 000 crew further industrial action. BA, which suffered the strike of 22 days this year, costs ￡ 150 m carrier attacked "dysfunctional" union for breaking his promise to its most recent offer members the company aimed at breaking the deadlock.

The current dispute high at its head several times to the thin shareholder attended meeting in London, which has approved the creation of a European airline with almost ￡ billion annual turnover .the ' agreement was also given the nod by investors of the Iberian Peninsula.

International Airlines Group (AIG), which will be executed by BA Executive Willie Walsh, will employ more than 57,400 staff and have a combined fleet of 406, carrying passengers 57.5 m per year.

A registered holding company Madrid - Consolidated International air transport group - sitting above AIG, the owner of London-based corporations operating BA and Iberia. They retain their trademarks, national identities and the rights of flights.

Martin Broughton, President of the BA, dismissed concerns should not push through a merger that the cabin crew line remained non-solved. "This dispute is a BA problem entirely. "It is not affected by the merger", he said.

Despite the THUMP of support for the agreement - which will see AIG Travel Fellowship from January 24 - BA BA Chairman had various Kiriat with 80 shareholders or such is the case of the meeting.

The observation of a BA did not compete with low-cost carriers quoting a tariff easyJet for ￡ 103 versus ￡ 168 BA, Mr. Broughton broken: "Enjoy your flight."

Another investor cited fears about the economy of the Spain asking: "is this the right time for a merger with Spanish airline"?"Yes", was a response of Mr. Broughton Word.

Private investor John Farmer has accused the Council "tactical" error accepting an organizational structure which meant investors meetings AIG all them be held now in Madrid.

Dr. Broughton said that without these concessions, Iberia would have classified the case of a takeover and that it has required a "premium", leaving investors BA with less of the merged group 56pc. ""It is better to have operational headquarters in the residence of the United Kingdom and the tax in Spain vice versa", added Mr. Broughton.

A sole shareholder said Chauvin permutation "lucrative" BA transatlantic routes for the "non-profit" of Iberia in Latin America is a poor business. ""In Latin America, if they do not want the race driver to win, they shoot him .c ' is always the same", he said.

Outside the meeting, Mr. Walsh said initial focus would be on the realization of the first year €72 m (￡ 60 m) synergies towards a target of 400 m € per annum cinq.Il reiterated plans use AIG to acquire more airlines.

"He also criticized Secretary General-joint unit Tony Woodley, saying that he was"shaken hands on an agreement"but failed to deliver.""Unite appear tear themselves," he said. "What I said about the nature of dysfunction of the union is played in public.?

BA 10.7 percent 261.2 dragged shares.

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The currency fell to $1.2997 against the dollar in trade on Tuesday morning, his lowest point in two months, even if it later recovered back losses after U.S. consumer confidence burned in November at the highest level of five months.

The brightest prospects suggest u.s. consumers might be more willing to open their wallets in addition, despite the high unemployment rate.

Agreement of a package of emergency aid of €Ireland stunned by bailing out on its shores, costs 85bn failed to allay the fears of market on the health of the euro area.

Concerns are now focusing on other countries responsible for debt with the Spain Portugal for more in-depth examination.

Governments have seen the cost of soar them loan during the past weeks and bond - yields rewards investors seek to take on the risk - increase again.

Gaps between the Spanish and Italian 10-year bond gives German cue points, which have a strong status, have reached their highest level since the euro was launched in 1999.

The crisis has started the year Greece, who was since a rescue operation last €110bn EU and the IMF, and thorough this month in the Middle fears holders will have to share future costs orchestrated.

An area of concern is that the Spain economy is twice as large as Greece, Ireland and combined Portugal prompting fears about safety net for the €750bn euro area may be almost enough if the country requires that aid.

Similarly, although most analysts view Italy at the lowest risk, the country is now called "too big" failure"and"too big to bail.

The cost of backup most euro-dette area is also on the rise, with five credit default swaps (CDS) - instruments that operate as insurance against a default country - Irish debt place 13 basis points to 6 25pc, which means that it now costs €services to ensure that the 10 million euros worth of bonds Irish.

Even the France, which is considered, along with Germany as one of the more stable members of the euro area is affected, with 5-year CDS amounting 6 points basic 1. 05pc, reflecting concerns about the toll of bailing out weaker economies.

Latest figures show Germany unemployment fell again in November, confirming its status as a powerhouse in the euro area.

The British pound gains as investors seek a safer alternative area euro.Sterling jumped to its highest level since September 20 and was directed against the euro for its biggest monthly gain since January 2009.

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Accounting and actuarial discipline, which is part of the Financial Reporting Council - Council said it will explore how the group accounts were prepared and approved for the year ended August 31, 2009, alongside the financial intermediary for the six months that have ended 28 February 2010.

In a brief statement, PwC has said that it would be "cooperating fully" with investigation AADB .the ' survey will also examine the conduct of the other members of the Institute of Chartered Accountants in England and Wales.

The parent company of Connaught and maintenance of housing arm is collapsed administration in September after management notified of reductions in public expenditure have been pressing its turnover. There are also doubts about accounting practices of the company.

Connaught has 215 million pounds to a syndicate of secured lenders, led by the Royal Bank of Scotland.However, administrator KPMG has warned that they are "likely to suffer a significant loss of profits and are probably not fully repaid.

The company also has more than 7 m ￡ at its former employees and ￡ 24,682 Red Cross, a report by the administrators revealed this month .i believes that the debts of the British society of the Red Cross, a charitable organization, health and training on the sécurité.Plus 7 million from ￡ is due to staff salaries, the days of replacement and redundancy payments with Mark Tincknell, former Chief Executive, due ￡ 29,000.

The group enterprise maintenance ground environment of Connaught and advice unit health and safety, Connaught compliance are not administration .This enterprises, which employ 4,500 people among them, "continue to trade normally under the control of their administrators and with the support of their lenders", according to administrators.

Other support services groups as capita warned that the Government of the austerity measures strike back should more difficult and earlier than the first.

Serco group support at the centre of a controversial payment provider, also concluded an agreement with the Government on the delivery of savings in its contrats.La society, running prisons and schools and maintains the bases of the RAF as Brize Norton, is one of the last major providers Government sign a memorandum of understanding.

Serco is one of 19 leading suppliers of State said Francis Maude MP meeting in July to find efficiencies in their contracts, the Cabinet Office seeks to cut the 800 million from ￡ this year from central government contracts.

Earlier this month, the company is at the centre line after requesting a refund in cash from its own suppliers 5pc 2 to reductions in Government.

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Shares of closed society 14 - or 6 67pc - 196 p after that he revealed that he is due 22 m ￡ by Innova AE & E Switzerland, which the German parent collapsed last week.

Costain, which is a subcontractor for the "construction and delivery of a significant part of the installation of the power-of-waste", said that he could certain Inova AE & E will make future payments under the terms of his contract.

Viewpoint - a project of 120 million to ￡ near Dartford - passage is one of the largest projects of alternative energy in the United Kingdom and will be used by London boroughs to reduce their spending on landfills .Sortie plant is planned in order to up to 50 000 households in the whole of London.

Costain said in a statement: "in light of the insolvency of the AE & E Costain group is engaged in active discussions with the AE & E Innova and Cory environment concerning funding and the realization of the project."

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A report has suggested that more costly banking may be part of the solution, small business issues report when you try to access to finance.

Said document work commissioned by finance finance Venture vendor invoice and supported by the bis, KPMG and the Colombia-British Business Angels Association (BBAA) reliability have become more important to improve small business confidence and stimulate the demande.Il prices was also reported that small businesses failing to invest because of a reluctance to take on new debt.

Peter Ewan, Director General of finance Venture, said player competition between the banks to reduce the price in advance of the financial crisis had led to a "production-line" approach to banking small businesses which has "affected quality of service.

"I hope price increases, allowing financial institutions give a better service to their customers," said he.

"As expenses have been hunted down it is much harder for financial institutions to understand their customers, because they have fewer persons to the faire.Ils must be more effective because prices have fallen."

Many companies are currently too afraid of approaching their bank for the capital expansion or extension found in cases where the information that they provide results in changes to existing facilities, contributor the requested report.

Jamie Young, Director of Feist Hedgethorne, a provider of part-time, finance directors stated: "I have clients who have relatively small bank overdrafts to ￡ 30 000 to 40 000 ￡ and small amounts of growth", he explains."They were concerned by addressing the Bank for an increase in their overdraft facility where this discovered gets reduced.

Venture finance accounting investigation found that said 60pc reliability rather than price was now key driver when companies evaluated the quality of their relationships with lenders.

Mr. Ewen said business owners "have started to say,"a relationship is more important than the fee or discount rate. "

Mr. Young was added: "the great thing is if funding is going to be there for the future or [if it]"will be shot.""

? Would you be willing to pay more for a more reliable relationship with your Bank? have your opinion on our forum, hosted on LinkedIn

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TOKYO – Asian markets were mixed in late morning trade Monday amid caution over tensions on the Korean peninsula and the debt crisis in Europe.

The Nikkei 225 stock average rose 0.30 percent to 10,069.38 at the end of morning trade, buoyed largely by a stronger dollar.

Electronics, auto and other exporter issues led morning gains, as a higher dollar benefits exporters as it increases the value of their repatriated profits.

The dollar rose to 84.09 yen from 82.55 yen late Friday. The euro stood at $1.3217 from $1.3726.

Worries about an escalation between the Koreas weighed heavily on rest of Asian stocks, while investors were also concerned about debt problems in Ireland.

Taiwan's Taiex rose 0.46 percent to 8,349.99, while South Korea's Kospi fell 0.31 percent to 1,895.44, and Australia's S&P/ASX200 index dropped 0.65 percent, to 4,568.40. Shares in Shanghai, the Philippines and New Zealand also fell.

European Union nations agreed Sunday to give euro67.5 billion ($89.4 billion) in bailout loans to Ireland to help it weather the cost of its massive banking crisis, and sketched out new rules for future emergencies in an effort to restore faith in the euro currency.

Joint military exercises involving a nuclear-powered U.S. supercarrier and a South Korean destroyer continued Monday, nearly a week after a deadly attack on a South Korean island sent tensions soaring in the region.

In New York on Friday, the Dow Jones industrial average fell 95.28, or 0.9 percent, to 11,092.

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LONDON – The euro slid to a new two-month low against the dollar and stocks traded sharply lower Monday, as investors continued to worry that Europe's debt crisis was heading to Spain, despite the euro67.5 billion ($88.4 billion) bailout of Ireland.

The euro was down 1.4 percent at $1.3094, its lowest level since September 20, as investors concluded that Sunday's bailout of Ireland by the European Union and the International Monetary Fund has done little to stop Europe's debt crisis from moving swiftly onto another country.

Although Portugal is widely considered to be the most at risk for outside help, the big worry in the market is a possible bailout for Spain.

Most analysts think European authorities can handle bailing out the relative minnows of Greece, Ireland and Portugal but that Spain — at around 10 percent of the eurozone economy — would be another matter altogether.

The yield on Spanish 10-year bonds shot up a massive 0.27 percentage point at 5.45 percent Monday and Portugal's rose 0.04 higher at 7.03 percent. The increases are a measure of an investors' appetite for risk and means those countries will pay more to borrow in the money markets.

All this is a far cry to what was intended — the hope among EU policymakers at Sunday's emergency meeting in Brussels was that the latest rescue would help contain the crisis. The measures aimed to help Ireland through its crisis and reassure the markets that Europe was getting a handle on its debt crisis following months of prevarication and confusion.

As well as providing instant money to shore up the capital position of Ireland's banks and providing the country funds for day-to-day needs, the European Union sketched out new rules for future emergencies to restore faith in the 16-nation euro currency.

"The bottom line is that the financial markets are unimpressed and that's the most generous description," said Neil MacKinnon, global macro strategist at VTB Capital. "The crisis rumbles on."

Unsurprisingly, ongoing talk of crisis hit stocks hard.

In Europe, the FTSE 100 index of leading British shares was down 77.50 points, or 1.4 percent, at 5,591.20, while Germany's DAX fell 115.42 points, or 1.7 percent, at 6,733.56. The CAC-40 index in France was 63.17 points, or 1.7 percent, lower at 3,665.48.

In the U.S., the Dow Jones industrial average was down 93.93 points, or 0.9 percent, at 10,998.07 soon after the open while the broader Standard & Poor's 500 index fell 8.79 points, or 0.7 percent, to 1,180.61.

Investors also have a number of key economic releases to digest this week, not least Friday's closely watched U.S. nonfarm payrolls report for November. Before then, the monthly surveys into the U.S.'s manufacturing and services sectors from the Institute for Supply Management have the potential to move markets.

In addition, there are interest rate decisions from the European Central Bank and the Bank of England on Thursday. Neither is expected to change borrowing costs, but investors will be particularly interested in what ECB President Jean-Claude Trichet says Thursday about Europe's continuing debt problems.

Earlier Monday in Asia, Japan's Nikkei 225 stock average added 0.9 percent to close at 10,125.99, buoyed by a stronger dollar, as the yen retained a fairly soft tone against the dollar to the relief of the country's major exporters.

By mid-afternoon London time, the dollar was up another 0.4 percent at 84.34 yen.

Meanwhile, South Korea's Kospi fell 0.3 percent to 1,895.54 amid ongoing tensions between the country and North Korea following last week's exchange of artillery.

Australia's S&P/ASX200 index rose 0.4 percent, to 4,618.5, and Hong Kong's Hang Seng index climbed 1.3 percent to 23,166.22.

Chinese shares were mixed as cautious investors watched for fresh moves to tighten monetary policy and counter inflation. The benchmark Shanghai Composite Index gave up 0.2 percent to 2,866.36. The Shenzhen Composite Index of China's smaller, second exchange gained 0.5 percent to 1,339.31.

Benchmark oil for January delivery was up 52 cents to $84.28 a barrel in electronic trading on the New York Mercantile Exchange.

____

Associated Press writer Pamela Sampson in Bangkok contributed to this report.

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NEW YORK (Reuters) – There is no sign that investors' headaches from Europe are going away, but early indications of strong holiday spending and an improving labor market could soothe Wall Street this week.

Fears that Europe's debt crisis could spiral out of control have pushed stocks off two-year highs hit earlier this month. Since November 5, the S&P has fallen 3.1 percent after running up 17 percent over the two months before that. At Friday's close, the S&P 500 was down 0.9 percent for the week, almost matching the Dow's 1 percent drop.

However, those fears have been countered by signs of a gathering recovery in the labor market at home. The government's nonfarm payrolls report on Friday is set to be another sign of a turnaround in hiring that could boost stocks through the end of the year.

Anecdotal evidence suggests holiday shopping got off to a good start. The S&P retail index (.RLX) rose more than 5 percent in the run up to "Black Friday," the day after Thanksgiving, when Americans traditionally take shopping malls by storm.

Retail stocks' gains are a sign of an increasingly bullish view of the U.S. consumer after a string of stronger indicators on jobs, sentiment and spending.

"The consumer is more confident and they are spending a bit more money, and I think retail as a whole is perking up," Gary Bradshaw, portfolio manager at Hodges Capital Management in Dallas said, adding that retail stocks "look relatively cheap to us, and I think sales are going to surprise to the upside."

Friday's payrolls report is expected to show the economy added 140,000 jobs in November, according to economists polled by Reuters. If that forecast is met, the jobs data will fit a pattern of growing strength in the labor market.

In October, companies hired at their fastest pace since April, the government's payrolls data showed, while the latest weekly initial claims for unemployment benefits have dropped to their lowest in over two years. November consumer sentiment rose to the highest level since June. October consumer spending also gained.

BLACK FRIDAY ANYTHING BUT BASIC

Early anecdotal evidence from Black Friday suggested shoppers were spending and that discounts were not as deep this year as last, potentially helping to lift retailers' margins as they look for the best holiday season in three years.

Black Friday marks the start of the holiday spending when U.S. retailers traditionally turn a profit, or go into the black for the year.

The National Retail Federation said that nearly 60 million Americans planned to hit the stores over the weekend, while another 78 million might join the crowds of shoppers. The NRF will provide an update later on Sunday.

Retailers on the front lines will publish same-store sales data on Thursday when they will likely comment on the weekend's events.

"It seems the American consumer is back with a vengeance," said Kim Caughey Forrest, a senior equity research analyst at Fort Pitt Capital Group in Pittsburgh. "If we are to believe CEOs of retailers, they feel they can support margins with prices that are attracting consumers."

Shares of Amazon.com (AMZN.O), a favorite online retailer, have run up 12 percent since mid-November, and hit an all-time high of $177.25 in the middle of last week.

RUMORS OF THE EURO'S DEMISE

Europe's debt crisis could be the fly in the ointment, though. Pundits predicting the euro's demise are getting serious attention.

European Commission President Jose Manuel Barroso denied on Friday that a financial rescue plan was in the works for Portugal and called a newspaper's report that Portugal was under pressure to seek a bailout "absolutely false," while Spain said it did not need help to manage its finances. But the market was less sanguine and stocks took a nose dive.

The European Union on Sunday approved an 85 billion euro ($115 billion) rescue for Ireland, an EU source said, and was set to announce outlines of a permanent system to try to resolve Europe's spreading debt crisis.

Finance ministers from the 16-nation euro zone, anxious to prevent financial market contagion from engulfing Portugal and Spain, endorsed an emergency loan package to help Dublin cover bad bank debts and bridge a huge budget deficit.

All 27 EU finance ministers were expected to endorse the broad outlines of the longer-term plan before markets open in Asia Monday, the source said.

Kate Schapiro, who runs an international equity fund out of San Francisco, said the declines in European stocks last week had looked "really, really ugly."

Her fund owns the New York-listed stock of Spain's Banco Santander (STD.N), which fell 15 percent this past week.

Schapiro says Santander and other European stocks may be getting hit too hard and that strong companies are getting caught up in the general selling.

"At the end of the day," she said, "I think we are going to muddle through this, and this could be a buying opportunity -- that's my gut" feeling, she added.

S&P 500 ON FAMILIAR GROUND

Periods of decline in November have worked off the S&P 500's overbought condition. The index has been finding support at around 1,180 and resistance at 1,200. That may serve as a short-term trading range.

Manny Weintraub, president of Integre Advisors in New York, said low volume is likely to mark trading in the near term, keeping stocks in their recent range.

"We're entering a period with a lot of days of very weak volume," he said.

Bullish sentiment has been on the rise again, a factor that may worry contrarian investors who see bullishness as a "sell" signal.

Bullish sentiment rose 7.4 percentage points to 47.4 percent, according to the latest sentiment survey by the American Association of Individual Investors. Bullish sentiment has now spent 12 consecutive weeks above its historical average of 39 percent despite some drops in November.

(Reporting By Edward Krudy; Additional reporting by Rodrigo Campos; Editing by Jan Paschal)

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SYDNEY (Reuters) – Doubts over whether a rescue deal for debt-soaked Ireland can plug Europe's debt crisis drove the euro to two-month lows on Monday, though shares in Europe and Asia managed to move higher.

Even though European authorities agreed to lend Ireland 85 billion euros ($115 billion) on Sunday in the hope it would assure investors that all European nations can repay their debts, markets were skeptical that the deal would stave off further contagion.

Asian stocks struggled most of the day but drew some comfort from a firmer start in Europe, where leading European shares (.FTEU3) rose 0.8 percent in early trade.

The euro fell as low as $1.3183 in Asia as investors worried European authorities might not have the means to rescue all fiscally-poor European nations including Portugal and especially Spain, whose economy is much bigger than Ireland's.

"There are still lingering worries about the rest of the countries, including Portugal and Spain," said Lorraine Tan, the director of Asian equity research at Standard & Poor's.

"It does raise risk worries and there are less people willing to take risk at this stage."

Indeed, many Asian investors said they wanted to wait and see how U.S. and European markets take to the rescue deal before making any big moves.

A late 1.3 percent spurt in Hong Kong's share index (.HSI) (.HK) helped to lift the MSCI Asian stock index outside Japan (.MIAPJ0000PUS) 0.9 percent higher by late afternoon.

Japan's Nikkei (.N225) also rose 0.9 percent to a five-month high. (.T) But traders noted the Tokyo market was thin, suggesting buyers were prudent nonetheless, especially with tensions between the two Koreas still bubbling.

U.S. stock futures were buoyant, with S&P 500 futures up 0.9 percent, driven higher in part by a healthy start to the Christmas shopping season. (.N)

EURO UNDER PRESSURE, FLIGHT TO DOLLARS

The euro recouped some losses by late trade in Asia to stand at $1.3280, but was still some way below a high of $1.3345 struck after the Irish aid was announced.

The U.S. dollar, considered a safer asset because it is widely traded, initially benefited from the shift from risk.

The dollar index (.DXY) hit a two-month high of 80.652 before pulling back in late trade to 80.101. On the yen, the U.S. currency held near a two-month peak.

The reaction in the commodity markets were more mixed.

Oil brushed aside the firmer dollar to rise past $84 per barrel as some thought the Irish deal bode well for energy demand.

Copper prices, an essential ingredient for industrial work, were steady while iron ore prices hovered at 6-1/2-month peaks. Iron ore is needed to make steel and is considered a barometer for the state of economic activity.

Gold, on the other hand, which tends to be in demand when investors shy away from risk, was a shade firmer at $1,363.19.

(Editing by Kim Coghill)

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NEW YORK – Stocks fell sharply in early trading Monday as concerns about the European debt crisis took the edge off a strong weekend of holiday sales.

The euro fell to a two-month low and investors flocked to the safety of the dollar and U.S. Treasurys after the European Union signed an agreement Sunday to provide nearly $90 billion in rescue loans for Ireland.

The move is designed to shore up Ireland's cash-strapped banks, but it does little to relieve investors' concerns about other European countries, including Portugal and Spain.

"The good news is they're making progress with Ireland," said Alan Gayle, senior investment strategist for RidgeWorth Investments. "The concern is that there is more work left to do for the EU going forward."

As a result, traders largely ignored the upbeat news on holiday retail sales in the U.S. The National Retail Federation, a trade group, estimated that 212 million shoppers visited stores and websites during the first weekend of the holiday season, up from 195 million last year.

Online spending also rose more than 14 percent from Thanksgiving Day through Saturday, according to IBM's Coremetrics. A fuller picture on spending will come Thursday when retailers report their November revenue.

Investors have been hoping that consumers, who have generally been spending cautiously since the recession, would feel more comfortable about shopping during the holidays. Many economists believe that consumers will have to spend more freely for the economy to put together a stronger recovery. However it's too soon to tell if sales will remain strong through Christmas.

The Dow Jones industrial average fell 114.74 points, or 1 percent, to 10,977.26 in late morning trading. Twenty-seven of the 30 stocks in the average fell. It was the first time since last Tuesday that the Dow surrendered the 11,000 level in intraday trading.

The Standard & Poor's 500 index fell 9.75, or 1 percent, to 1,179.65. Nine of the 10 industries in the S&P 500 fell. Financial stocks eked out a minor gain, rising 0.1 percent.

The technology-heavy Nasdaq composite index dropped 26.03, or 1 percent, to 2,509.11

European stocks also traded sharply lower. In London, the FTSE 100 index was down 1.6 percent. Germany's DAX fell 1.8 percent. The CAC-40 index in France fell 1.8 percent.

Oil prices rose $1.03 to $84.78 a barrel. Gold for February delivery rose $1.60, or 0.1 percent, to $1,365.80 an ounce.

The dollar rose 0.8 percent against an index of six other currencies.

Bond prices rose as investors shifted money out of riskier assets like stocks and commodities and into defensive investments. The yield on the 10-year Treasury note, which moves opposite its price, fell to 2.86 percent Monday from 2.87 percent Friday.

Investors were also cautious as they awaited the week's economic reports, including the government's monthly employment report due out on Friday. Also due this week are the Conference Board's survey of consumer confidence on Tuesday, and the Institute for Supply Management's assessments of the manufacturing and services industries.

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LONDON (AFP) – Stocks advanced on Monday in cautious opening deals after Ireland secured an 85-billion-euro bailout from the European Union and International Monetary Fund.

The benchmark FTSE 100 index rose 0.37 percent to 5,689.94 points.

However, the euro sank to a two-month low in a nervous reaction to the 113-billion-dollar Ireland bailout that European governments had hoped would steady the under-pressure currency.

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NEW YORK (Reuters) – Stocks fell more than 1 percent on Monday on lingering worries about Europe's ability to contain a credit crisis despite a weekend bailout agreement for Ireland.

The euro fell to more than two-month lows against the U.S. dollar, hurting commodity prices and shares in the materials and energy sectors.

European Union finance ministers endorsed an 85 billion euro loan package to help Ireland bridge its deficit. Nervousness that the credit crisis could spread to other euro zone members has weighed on global stocks in recent weeks.

Anxiety grew, with the CBOE Volatility index (.VIX), Wall Street's so-called fear gauge, hitting its highest level since early October.

Adding to the fundamental weakness, the S&P 500 failed to hold a technical support as it briefly traded below its 50-day moving average for the first time since early September.

"This seems to be more of a macro selloff based on fears of what's happening in Europe," said Angel Mata, managing director of listed equity trading at Stifel Nicolaus Capital Markets in Baltimore.

"A lot of people don't understand the ramifications here. If Europe is having these systemic problems, it brings the question of whether our economic recovery is put on hold."

The Dow Jones industrial average (.DJI) dropped 133.73 points, or 1.21 percent, to 10,958.27. The Standard & Poor's 500 (.SPX) lost 12.16 points, or 1.02 percent, to 1,177.24. The Nasdaq Composite (.IXIC) fell 32.11 points, or 1.27 percent, to 2,502.45.

The S&P materials index (.GSPM) declined 1.3 percent, while the energy sector (.GSPE) was off 0.8 percent.

U.S. consumers appeared to be spending again as about 212 million shoppers hit stores between the U.S. Thanksgiving Day holiday on Thursday and Sunday, an increase of 8.7 percent from 2009, according to a private survey.

Still, the S&P retail index (.RLX) fell 1.2 percent after climbing 3.5 percent in the last two weeks.

Stifel's Mata said retail stocks had moved up in anticipation of positive weekend sales, and a selloff was expected.

Online retailer Amazon.com Inc (AMZN.O) rose 1.1 percent to $179.21 in hopes of strong sales on so-called Cyber Monday, a day of steep discounts for online shoppers. FedEx Corp (FDX.N) added 3 percent to $90.05.

(Reporting by Rodrigo Campos; editing by Jeffrey Benkoe)

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NEW YORK – A shares fell sharply Monday as the concerns of European debt crisis took the wide edge a weekend of holiday sales.

The euro is fallen to a minimum of two months and investors poured-security dollar Treasurys to the United States after a Sunday agreement was signed between the European Union to nearly 90 billion in loans for the Ireland rescue.

The move is designed to the shore of the Ireland cash-strapped banks, but it is unlikely to ease the concerns of other European countries, including the Portugal and the Spain investors.

Accordingly, largely ignored merchants new optimistic on .the National Federation of retail trade group trade United States holiday retail sales found 212 million shoppers visit stores and Web sites during the first week of the holiday season end up to 195 million last year.

Expenses also increased more than 14 percent of the day of Thanksgiving to Saturday, according to IBM's Coremetrics Online.A more complete picture on spending come Thursday when retailers declare their incomes in November.

History: Irish contributors rescue smoke is the elite

Investors have been hoped that consumers who have usually spent carefully since the recession, feel more comfortable on the races during the vacances.beaucoup economists believe that consumers will have to spend more freely to the economy develop a stronger recovery.However, it is too early to tell if sales remain strong by Christmas.

The Dow Jones industrial average fell 155.61 points and 1.4%, 10,936.39 in the first hour of the trade.

Standard & Poor 500 index fell 12.90 or 1.1%, to 1, 176.04 .the ' technology-heavy Nasdaq composite index dropped 30.18 or 1.2%, 2,503.73.

European stocks also significantly traded lower.

Commodity prices have been mélangés.Cours oil pink $18 cents to 83,94 baril.Or for February delivery fell $5,70, or 0.4 per cent, to $1,358.60 an ounce.

The dollar rose by 0.8% compared to an index of six other currencies.

Silver Pink price link moved risky stocks and commodity base and investment défensives.Le performance Note Active investors face price 10-year Treasury Board, moving, fell to 2.82% 2.87% Friday Monday.

Also, investors were cautious because they waited of the week, including the report of the Government economic reports monthly employment due out by the Conference Board consumer confidence vendredi.Sondage Tuesday and the Institute for manufacturing and service industries supply management assessments are also due this week.

? 2010 The Associated rights Press.Tous réservés.Ce hardware cannot be published, broadcast, rewritten or redistributed.

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Fears that Europe's debt crisis could spiral out of control have pushed stocks off two-year highs hit earlier this month. Since Nov. 5, the S&P has fallen 3.1 percent after running up 17 percent over the two months before that. At Friday's close, the S&P 500 was down 0.9 percent for the week, almost matching the Dow's 1 percent drop.

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However, those fears have been countered by signs of a gathering recovery in the labor market at home. The government's nonfarm payrolls report on Friday is set to be another sign of a turnaround in hiring that could boost stocks through the end of the year.

Anecdotal evidence suggests holiday shopping got off to a good start. The S&P retail index rose more than 5 percent in the run up to "Black Friday," the day after Thanksgiving, when Americans traditionally take shopping malls by storm.

Retail stocks' gains are a sign of an increasingly bullish view of the U.S. consumer after a string of stronger indicators on jobs, sentiment and spending.

Story: Everyday investors wonder if market is rigged

"The consumer is more confident and they are spending a bit more money, and I think retail as a whole is perking up," said Gary Bradshaw, portfolio manager at Hodges Capital Management in Dallas, adding that retail stocks "look relatively cheap to us, and I think sales are going to surprise to the upside."

Friday's payrolls report is expected to show the economy added 140,000 jobs in November, according to economists polled by Reuters. If that forecast is met, the jobs data will fit a pattern of growing strength in the labor market.

In October, companies hired at their fastest pace since April, the government's payrolls data showed, while the latest weekly initial claims for unemployment benefits have dropped to their lowest in over two years. November consumer sentiment rose to the highest level since June. October consumer spending also gained.

Early anecdotal evidence from Black Friday suggested shoppers were spending and that discounts were not as deep this year as last, potentially helping to lift retailers' margins as they look for the best holiday season in three years.

Black Friday marks the start of the holiday spending when U.S. retailers traditionally turn a profit, or go into the black for the year.

The National Retail Federation said that nearly 60 million Americans plan to hit the stores over the weekend, while another 78 million might join the crowds of shoppers. The NRF will provide an update on Sunday.

Video: CNBC looks at the week ahead (on this page)

Retailers on the front lines will publish same-store sales data on Thursday when they will likely comment on the weekend's events.

"It seems the American consumer is back with a vengeance," said Kim Caughey Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh. "If we are to believe CEOs of retailers, they feel they can support margins with prices that are attracting consumers."

Shares of Amazon.com , a favorite online retailer, have run up 12 percent since mid-November, and hit an all-time high of $177.25 mid-week.

Europe's debt crisis could be the fly in the ointment, though. Pundits predicting the euro's demise are getting serious attention.

European Commission President Jose Manuel Barroso denied on Friday that a financial rescue plan was in the works for Portugal and called a newspaper's report that Portugal was under pressure to seek a bailout "absolutely false," while Spain said it did not need help to manage its finances. But the market was less sanguine and stocks took a nose dive.

Kate Schapiro, who runs an international equity fund out of San Francisco, said the declines in European stocks this week had looked "really, really ugly."

Her fund owns the New York-listed stock of Spain's Banco Santander , which has fallen 15 percent this week.

Schapiro says Santander and other European stocks may be getting hit too hard and that strong companies are getting caught up in the general selling.

"At the end of the day," she said, "I think we are going to muddle through this, and this could be a buying opportunity — that's my gut" feeling, she added.

Periods of decline in November have worked off the S&P 500's overbought condition. The index has been finding support at around 1,180 and resistance at 1,200. That may serve as a short-term trading range.

Manny Weintraub, president of Integre Advisors in New York, said low volume is likely to mark trading in the near term, keeping stocks in their recent range.

"We're entering a period with a lot of days of very weak volume," he said.

Bullish sentiment has been on the rise again, a factor that may worry contrarian investors who see bullishness as a "sell" signal.

Bullish sentiment rose 7.4 percentage points to 47.4 percent, according to the latest sentiment survey by the American Association of Individual Investors. Bullish sentiment has now spent 12 consecutive weeks above its historical average of 39 percent despite some drops in November.

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Dublin Fergus O'Neill is a mission to sell copies of the poster 42bn worldwide.

With combinations in Brussels dictate the conditions for a bailout 85bn euro for the banking sector disaster Ireland, you could forgive the Irish to feel a little slack.

But aucune.Un sign Irish sense of humour is happily living, a re-fashioned a graphic displays of war with his gaze on the financial crisis facing.

His dark green poster featuring the slogan ' Keep Going...It is great '-a look at the dictum now ubiquitous in time of war, "Keep calm and carry the"-caught the attention of a nation frustrated with his handling of the saga of bailing out Government.

But is not only the poster providing a spur of motivation in the dark hours, there may also be the answer to the Irish Prime Minister, Brian Cowen, prayers.

Graphic designer undertaking behind the poster on o ' Neill in Fergus, Dublin is a mission to sell copies of displays worldwide entier.Et restore euro per copy State - thus halve 42bn debt incurred by the banking crisis.

It is a command - about seven copies for each person on the planet - but with the power of Facebook, which can certainly be atteint.Une page on the social networking site, promoting the cause - which will display a weekly count money intended for the State - already has over 3,000 supporters.

Bid to sell 42 billion of these posters may seem absurd but it cannot be deemed to be no more absurd that scandalous practices and policies landed us ici.Il there was little we can do except be ourselves and to continue, "said Mr. O'Neill."

At fait.Espérons M. Cowen has purchased for his Office - it is necessary.

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Despite the increase in borrowings, Mr. Archer said credit participation remains very low in the last standards.?Photo: AP

NET consumer credit increased 287 million to ￡ in October compared with 72 million from ￡ in September, already increased views since may, as prevail largely over a small credit card debt dropped other unsecured loans.

Twelve months of consumer credit growth rate increased by 0.4 0 6pc percentage point the steepest rise since September 2009.

However, Howard Archer, an economist at IHS Global Insight, said: "despite the modest pick up in consumer credit not guaranteed in October, remains very low in the last standards and we suspect that this will remain the case.

"Appetite for consumer to take further borrowing seems to be limited even though there is a desire of many consumers to reduce their debt."

In the meantime, figures for unsecured loans show that home purchase mortgage approvals further reduce in October to achieve a minimum of eight months of 47,185.

The figure was in conformity with expectations 47,369 and reinforced through September real estate slowdown intensifies fears, trusts are running half only their long term average of 90,000.

NET mortgages, which is not regarded as such an important the future of real estate, picked up to 963 m gauge ￡ 174 m October ￡ in September.

Whereas the increase in loans was a positive surprise, it is "still very low compared to long-term standards" according to Mr. Archer.

Money floating around the economy and the people's bank - accounts showed growth was 0 7pc in October, but the annual percentage rate declined sharply to less than 0 7pc, much of the money supply M4 - lowest since the series began in 1983.

Assess the supply of currency preferred of the Bank of England - excluding financial companies that specialize in intermediation between banks, such as holding companies-0 1pc rose on the month.

"The image is still subdued growth enough money that reflects what we see on the side ready, said Ross Walker, an economist at RBS."

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A shareholder of thin attended meeting in London, BA Chairman Martin Broughton revealed that more investors 99pc company - including proxy - voters have approved the agreement.

Shareholders of Iberia also voted a reciprocal meeting in Madrid to create International Airlines Group (AIG) - carrier mixing strengths of BA on the North Atlantic with Iberia's Latin America to operate a combined fleet of 406, carrying passengers 57.5 m per year.

A registered holding company Madrid - International Consolidated Airlines Group - sitting above AIG will be which possess the BA and Iberia.Ils operating companies will protect their brands, national indentities and rights of flights and is headquartered in London.

Willie Walsh, CEO, BA will have the same role at Geneva International Airport - whose name replace BA on the screens of the stock exchange where the shares of the merged company start deals on January 24.

Despite the resounding vote in favour, he had a dissent QE2 at Westminster, conference centre where only about 80 shareholders have speech.

John Farmer, a pillar of the meetings of the shareholders, charged the jury to make a "tactical" error accepting an organizational structure that has ensured that all PGI investor meetings took place in Madrid - today is the last these reunions to United Kingdom shareholders of BA.

Martin Broughton, President of BA struck back saying that by admitting Madrid registration transaction, convinced of Iberia requires that the agreement appears to be a merge, not a takeover by the airline UK.Dans taken control, suggested Mr. Broughton, Iberia would have demanded a "premium", leaving the shareholders of BA with less than the combined group that they now have 56pc.

"I think it is better to have operational headquarters in the residence of the United Kingdom and the tax in Spain vice versa", added Mr. Broughton.

Requested by another shareholder if he believed that it was "good moment to have a merge" with Iberia, taking into account the economic problems of the Spain Mr. Broughton answered with a single word answer: "Yes."

Some shareholders employee wondered how BA could move forward with the agreement while he was still in conflict with its cabin crew. "This dispute is a problem of BA entièrement.Il is not affected by the merger, "said Mr. Broughton."

Cabin crew Union Unite should make an announcement this afternoon, which many believe will be a call for a new strike ballot.

After that meeting, Mr. Walsh has reiterated its conviction that Geneva International Airport would be a means of further consolidation in the airline industry, but had nothing to add to his comments surprised had compiled a list of prospective supported target 12 September.

BA shares slipped 0.3 percent 271.6 trade afternoon at the beginning.

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