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Retail sales rose more than expected in February, boosted by strong demand for tablet devices, the Office for National Statistics (ONS) revealed Thursday. Total sales increased by 2.1% last month, compared with -0.7% in January, beating the 0.4% consensus. Core sales, excluding fuel, increased by
Read moreRussian prime minister Dmitry Medvedev has lambasted the EU's handling of the Cyprus debt crisis, comparing a plan for a levy on bank deposits to measures that hurt savers under the Soviet Union. However, Moscow has yet to offer any concrete help to the Cypriot government,the FT reports. Cyprus on
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By Steve Slater LONDON, March 20 (Reuters) - Rich Ricci, the head of Barclays' investment bank, has sold shares worth more than 17 million pounds ($25.7 million) straight after receiving them as part of previous deferred bonuses or long-term awards. Barclays said on Wednesday Ricci wa
Read moreLONDON, March 20 (Reuters) - Rich Ricci, the head of Barclays' investment bank, has sold shares worth almost 17 million pounds ($25.7 million) straight after receiving them under previous deferred bonuses or long-term share awards. Barclays said on Wednesday Ricci was awarded 5.7 million sh
Read more* Bank levy to increase to 0.142 percent by 2014 * Hike is to offset cuts in corporation tax * Take from levy well down on initial target * Banks' shrinkage means UK raised less than forecast * Critics say levy constrains banks' ability to lend By Matt Scuffham
Barclays sparked outrage Wednesday as it was accused of trying to 'bury bad news' by revealing bonuses paid to executives on the same day as the UK Budget 2013. The bank announced details of multimillion-pound bonuses to top bosses including Chief Executive Antony Jenkins and the head of its invest
Read moreLONDON, March 20 (Reuters) - For highlights of British finance minister George Osborne's budget statement to parliament, click on
Read moreLONDON, March 20 (Reuters) - For highlights of British finance minister George Osborne's budget statement to parliament, click on
Read moreBy Karen Freifeld NEW YORK, March 19 (Reuters) - U.S. mortgage finance company Freddie Mac is suing more than a dozen banks for losses from the alleged manipulation of the benchmark interest rate known as Libor. Bank of America Corp, JPMorgan Chase & Co, UBS AG and Credit Suisse Group
Read more(Corrects name in 5th paragraph to Federal Housing Finance Agency, from Authority) By Karen Freifeld NEW YORK, March 19 (Reuters) - U.S. mortgage finance company Freddie Mac is suing more than a dozen banks for losses from the alleged manipulation of the benchmark interest rate known
Read moreBy Scott DiSavino March 19 (Reuters) - Cape Wind said Tuesday it expects to complete financing for its long-delayed 468-megawatt offshore wind farm and start construction of the project in federal water off Cape Cod, Massachusetts, by the end of the year. Cape Wind said in a statement
Read moreBy Chuck Mikolajczak NEW YORK, March 19 (Reuters) - U.S.-listed shares of foreign companies declined on Tuesday amid continued uncertainty over the fiscal stability of Cyprus, while mining-related stocks fell on concern about weakening demand. At a vote Tuesday, the Cyprus parliament
Read more(In paragraph 2, corrects name to Office of Foreign Assets Control) By Brett Wolf HOLLYWOOD, Florida, March 18 (Thomson Reuters Accelus) - U .S. efforts to prevent Iran and other countries from evading international security sanctions may potentially be thwarted by the use of opaque i
Read moreThe broad, sharp sell off in European banks, fuelled by the plans to tax Cyprus bank depositors under the country's bailout terms, could create some attractive buying opportunities, with Espirito Santo highlighting Barclays , BNP Paribas and Societe Generale. "We believe higher beta banks w
Read moreBy Nadia Damouni NEW YORK, March 18 (Reuters) - BlackRock Inc, the world's largest money manager, will lay off nearly 300 employees, or about 3 percent of its workforce, according to an internal memo obtained by Reuters. BlackRock President Rob Kapito told employees on Monday that des
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