|Clinton Cards plc to close remaining 76 shops with loss of 550 jobs at the end of the month|
|Friday, 20 July 2012 08:33|
News round up: Clinton Cards plc, London Stock Exchange Group plc, Barclays plc, Microsoft Corp, Property prices.
The last remaining Clinton Cards plc (LON:CC) shops run by administrators will shut at the end of the month with the loss of 550 jobs. Administrators admitted there had been no interest in the remaining sites, which means the retailer has made nearly 4,000 staff unemployed since May with the closure of 370 shops.
London Stock Exchange Group plc
The London Stock Exchange Group is in talks with the owner of the Singapore exchange about a potential 7.2bn pound merger. The British bourse, which pulled out of a 4.2bn pound merger with the owner of the Toronto stock exchange last year, is understood to have held a series of informal conversations with Singapore Exchange, its Asian rival, about a formal tie-up.
Philippe Moryoussef, the former Barclays trader identified as being at the heart of the interest rate fixing scandal, had bets in the order of €30bn resting on the rate of Euribor (the European equivalent of the UK's Libor) and appears to have been a domineering character over dealers at other banks.
Microsoft suffered one of the biggest blows to its reputation last night as the software giant reported its first loss as a public company. The company founded by Bill Gates said that it had lost $492m (£313m) in the three months to the end of June after writing off $6.2bn from acquisitions made in an attempt to keep up with Google in the search engine market. While Microsoft was eating humble pie, Google was emphasising just how badly its rival had faltered as it reported an 11% rise in second-quarter profits to $2.7bn.
More UK homeowners expect property prices to rise rather than fall in the coming year, two separate studies have found, despite house sales stuttering and the dour economic outlook. According to the latest quarterly Halifax Housing Market Confidence tracker, 34% of householders thought the average UK house price would rise over the next year, with 19% predicting a drop. In a separate property market sentiment report by property website Zoopla, 63% expected values to rise in the next six months, with 18% predicting falls in the same period, The Daily Mail reports.
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