|Google Inc profits from illegal ads for London 2012 Olympic tickets and fake IDs|
|Tuesday, 10 January 2012 09:24|
News round up: Google, Financial transaction tax, Greece, business confidence and banks.
Financial transaction tax
Angela Merkel has warned that German support for the financial transaction tax (FTT) is not guaranteed, in a move that could open up a rift with France just days before the next European summit. The German Chancellor said she supported French President Nicolas Sarkozy's demand to introduce the controversial tax but that her government was split.
Europe’s top political double act yesterday warned Greece that vital rescue funds would be held back until it completes a deal over the size of losses to be imposed on private investors.
The Government must act now to repair the blow to business confidence dealt by the Eurozone debt crisis, or risk an even greater setback for Britain's ailing economy, the British Chambers of Commerce warned. The BCC said in its latest quarterly survey that although a technical recession with two successive quarters of negative growth was "not a foregone conclusion", at least one quarter of contraction was very likely in the first half of 2012.
Banks have signalled 'significant change' in attempting to squeeze greater profits out of the gap between mortgage and savings rates in 2012, a report suggested today. The Industry Sentiment Financial Services Survey also warned of a plunge in confidence among Britain's building societies, a sector that has been seen as key in offering an alternative to banks.
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