Daily Overnight Uk News - 14/11/07

Discussion in 'Trading' started by Ransquawk, Nov 14, 2007.

  1. Ransquawk

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    The BBA has told MP's that the BoE should cut its rates on emergency loans to banks during a financial crises (Times) In a written submission to the Treasury Select Committee, the BBA said that the bank should scrap its penalty rate of 1% above the base rate in times of market stress.

    Bankers in the City will see their pay hammered by the credit crunch, with bonus pools in some areas down 50% amid growing fears of widespread job cuts ahead of the Christmas period (Telegraph)

    Northern Foods has told shoppers that they had yet to see the full effect of the strongest inflation in food costs for 14 years, despite a string of price increases across supermarkets in the past month (Times) The chief executive of the group said many retailers are waiting for the new year the the majority of increases.

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