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  • UK banks face break-up threat as watchdog plans competition probe

    Britain’s big banks could be broken up after the country’s new competition watchdog said it plans to launch an 18-month investigation into services for small business customers and personal current accounts. The Competition and Markets Authority...

  • MGS turnover surge as new issues announced

    Trading volume in Malta Government Securities (MGS) more than doubled this week after the Treasury announced that the government will be offering two new issues to the general public. The two new issues shall in the aggregate be of €100 million...

  • US shares rebound as euro briefly dips below $1.35 mark

    US stocks rebounded and European markets recovered a bit yesterday, but the euro dipped below $1.35 for the first time since February after a Malaysian airliner was downed in eastern Ukraine and Israel stepped up a ground assault in Gaza. German...

  • New iPhone to enter mass production

    New iPhone to enter mass production

    Taiwan’s Hon Hai Precision Industry Co. Ltd, the world’s largest contract manufacturer of electronic goods, will begin mass production of Apple Inc.’s next-generation iPhone this month, local media reported yesterday. Mass production of a 4.7-inch...

  • ECB will disclose unprecedented data after banks do stress tests

    ECB will disclose unprecedented data after banks do stress tests

    The European Central Bank has laid out plans to publish an unprecedented trove of data on individual banks – from measures of leverage to non-performing loans – when it completes a landmark health check in October. The ECB, soon to become Europe’s...

  • Daily currency report

    Higher inflation rates in the UK and the US collided with stronger-than-expected growth figures in China to make for improved investor sentiment. That sentiment flourished when FOMC’s Janet Yellen told members of Congress that interest rates could...

  • MSE share index at two-week high

    The MSE Share Index edged 1.1 per cent higher to a fresh two-week high of 3,343.592 points largely due to the uplift in the share prices of HSBC Bank Malta plc and GO plc. The share price of HSBC Bank Malta plc traded 4.2 per cent higher to regain...

  • Implementing structural reforms

    At last month’s European Council, the heads of government of the 28 EU member states agreed that the implementation of structural reforms was necessary in order to enhance economic growth. The final communiqué had stated that “the recovery remains...

  • Apple fights digital books ruling

    Apple fights digital books ruling

    Apple will pay up to $400 million to compensate consumers ensnared in a plot to raise the prices of digital books unless the company overturns a court decision attesting to its pivotal role in the collusion. The terms of the settlement disclosed...

  • Britain’s BSkyB sells ITV stake to Liberty Global

    Britain’s pay-TV group BSkyB has sold a 6.4 per cent stake in free-to-air broadcaster ITV to cable group Liberty Global, raising cash ahead of a possible deal to expand in Europe. Liberty said it did not intend to make an offer for the rest of...

  • Sports Direct makes up with Adidas after spat

    Britain’s biggest sporting goods retailer Sports Direct posted a 20 per cent rise in full-year profit and said it had made up with key supplier Adidas AG after a recent row with the German sportswear firm. Sports Direct had criticised Adidas for...

  • Murdoch tells G20 governments to take the back seat for growth

    Murdoch tells G20 governments to take the back seat for growth

    Media mogul Rupert Murdoch yesterday criticised excessive financial regulation as stymieing free markets and urged Group of 20 governments to “take a back seat” to allow businesses to drive economic growth. Murdoch also said US President Barack...

  • European shares slump on news of Malaysian plane tragedy in Ukraine

    European shares slumped yesterday, sharply extending losses at the end of the trading day on news that a Malaysian passenger plane had crashed in Ukraine near the Russian border. The crash revived investors' fears over tensions between Ukraine and...

  • Company briefs

    Company briefs

    Value is the theme of the 2014 summer campaign launched in Maypole’s 11 outlets last month. Supported by some two dozen brands, the offers are based around lower pricing, free giveaways and special combo packs. “These are not sales gimmicks but...

  • Go shares jump on bid for Forthnet

    Go shares jump on bid for Forthnet

    The MSE share index advanced by 0.3 per cent to 3,308.077 points mainly due to the 2.5 per cent uplift in the share price of Go plc to €2.27,5 on increased volumes of 39,060 shares across eight deals. The increase in Go’s share price can be...

  • Vodafone bids to buy Forthnet

    Britain's Vodafone and its Greek business partner Wind have offered to buy the shares they don't already own in Forthnet, a small Greek internet, telephony and pay television provider, Forthnet said on Thursday. Vodafone and Wind, who already own...

  • Fiscal incentives for private pensions too low

    Fiscal incentives for private pensions too low

    The government may have to go back to the drawing board after stakeholders expresssed dismay at proposed fiscal incentives for third pillar pensions. Finance Minister Edward Scicluna had promised some weeks ago to launch optional private pensions...

  • Rampant tax evasion in used-car sales – ICDA

    Rampant tax evasion in used-car sales – ICDA

    The Island Car Dealers Association has warned that there is rampant tax evasion in the sale of used cars, as these are being sold by dealers without charging VAT. “According to legislation, if you sell more than seven cars a year, you need to have...

  • Used car market rules for luxury brands

    Used car market rules for luxury brands

    In the past five years, the amount of used higher end passenger car brands imported has dramatically overshadowed sales of new cars from the local agents, with only 9.8 per cent of BMWs and 13.2 per cent of Jaguars being bought new. Mercedes fared...

  • Manufacturing still has role to play

    Manufacturing still has role to play

    The European Commission wants to build up manufacturing to 20 per cent of GDP, but here in Malta, the percentage is still dropping and is almost half the level it was pre-global crisis. But does this percentage tell the whole story? The percentage...