4th of July

A slightly shortened version due to it being the Fourth of July so here’s your holiday news:

Friday Reading

Advertising firm WPP launch a revised bid for Taylor Nelson.

Four largest Bradford and Bingley shareholders confirm bailout strategy yet shares fall due to mortgage lender TPG pulling out. 

Britain is veering closer towards a recession.

John Lewis sales dive 8.3% at beginning of summer sale.

US employers cut jobs for sixth month in a row as 62,000 are sacked.

“Mainstream fund managers lack appetite for complex financial instruments”

Yahoo market overview - monitor this to view the recession in real time!

European Central bank raises interest rates by 0.25 up to 4.25 due to inflation fears.

Lehman Brothers hand out mid-season bonuses in bid to retain key staff.

Households are, on average, 15% worse off than they were in 2003.

The silver lining to the cloud of recession: bargains abroad.

Story of the Day

Have fun on the 4th of July without breaking the bank with MSNBC’s Ten Top Tips.

This is not just a collapse – this is an M&S collapse

I’m screwed. Some time in the next few weeks i’m going to receive a politely worded yet patronisingly sinister letter complaining about my having downloaded ’House of the Rising Sun’ online for free. I will read it apprehensively and calmly yet at the same time with fear that my front door will be battered down and agents with white gloves will search my house and destroy everything in their path until they have found that song. I have no way of keepin them out. I would buy a safety catch but inflations driving up the prices of metal. I was going to run away with Sam Israel until i got the news.  I guess i’ll have to try and weather the storm. I’m screwed.

Henry Paulson, US treasury secretary, warns that ’inflation is world’s biggest worry’.

Former Bayou Group hede fund manager, Samuel Israel III, hands himself into police having spent a month on the run and is due to face New York judges today.

Asian stocks fall and Japanese stocks post longest losing streak in half century, on fears of stagflation.

Marks and Spencers profit warning causes collapse in retail market as City loses faith in Rose.

Oil prices continue to rise above $145 a barrel.

Game groups shares fall despite profits due to concerns that demands had peaked.

“Merrill advises Fortis on sale of businesses to Deutsche.”

The standard of living for British families will fall for the next year at least.

How to save money and still have an enjoyable 4th July.

 Story of the Day 

Gold mine found in Ireland. Unbelievable. I spent half my childhood trying to find a gold mine and now i find out that i was looking in the wrong place…I’m off now, i’m catching the 10:50 to Dublin from Gatwick to see some relatives…Its been planned for a long time…seriously…