The once mighty Canadian telco company Nortel announced that it would axe a further 1,900 jobs as part of its ongoing and seemingly fruitless effort to turn the company around. Nortel has suffered a massive series of insurmountable setbacks over the last few years since posting an astonishing $19.2 billion write-off six years ago....
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Hot on the heels of comments from the FSA yesterday about irresponsible lending by investment banks and brokers to risky customers with poor credit records – we now hear from the Financial Times that a number of specialist mortgage lenders are to introduce instant mortgage approvals over the telephone or online without even requiring...
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Of course we all live or die by our headlines in this business, but surely we should expect the Financial Times of London to have a more consistant view point on the economy and markets, especially within the same day, and especially by the same author. We’ve been known to sway a little ourselves...
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