General Business News - Barclays Jump
Barclays shares led the FTSE higher in early trading Monday, leaping by a third on reports that although it wrote down £8 billion of credit assets in 2008 it won't need a capital injection as revenue from its investment banking arm rose. Its shares were up 31.84% at 67.50.
Lloyds also rose, being the mornings second biggest riser, up 18% to 58.20.
Cattles, however, the sub-prime and doorstep lender fell 36% to 11.50 after it failed to secure a banking licence.
Dutch banking giant ING has said it is to cut 7,000 jobs in an effort to reduce costs.
Steel maker Corus announced it was to cut up to 3,500 workers, with around 2,500 expected to go in the UK.
GKN, the component maker, is also expected to announce job cuts later in the week, as demand for new cars slumps.
Electronics giant Philips said it is cutting 6,000 jobs after reporting its first quarterly loss in almost six years.
Lloyds also rose, being the mornings second biggest riser, up 18% to 58.20.
Cattles, however, the sub-prime and doorstep lender fell 36% to 11.50 after it failed to secure a banking licence.
Dutch banking giant ING has said it is to cut 7,000 jobs in an effort to reduce costs.
Steel maker Corus announced it was to cut up to 3,500 workers, with around 2,500 expected to go in the UK.
GKN, the component maker, is also expected to announce job cuts later in the week, as demand for new cars slumps.
Electronics giant Philips said it is cutting 6,000 jobs after reporting its first quarterly loss in almost six years.