M&C Saatchi’s ad revenue soars on strong UK and US markets September 11, 2014 ADVERTISING giant M&C Saatchi saw revenues rise three per cent during the first half of the year, it reported yesterday, to £82.6m on the back of strong growth in the UK and US. With a 17 per cent jump in profit to £8m during the six months to 30 June, the group said it was [...]
Floral tribute for victims of 9/11 terror September 11, 2014 Friends and relatives of the nearly 3,000 victims of the devastating 9/11 attacks on New York’s World Trade Centre —many of whom worked for BGC Group — have marked the 13th anniversary of the terrorist atrocity by putting flowers, toys and photos on the names which are written at the National September 11 Memorial and [...]
Europe’s banks hit their capital buffer targets September 11, 2014 Europe’s biggest banks were closing in on their capital targets at the end of last year, global regulators at the Basel Committee said yesterday, indicating the lenders appear to have met the goals by now. Now the banks have built up the vital buffers, they should be able to dedicate more resources to lending and [...]
Bank of England fears rate hike could send assets topsy turvy September 11, 2014 INVESTORS must be prepared for an increase in interest rates in the UK and across the world, or risk market chaos when the hike happens, Bank of England policymaker Donald Kohn said yesterday. Kohn fears that investors have surged into risky assets in a search for yield – exactly as very loose monetary policy was [...]
German $280bn current account surplus likely to raise eyebrows September 11, 2014 THE GERMAN government will come under pressure to do more to boost domestic demand after a report revealed yesterday that it was on track to achieve a record current account surplus this year. A forecast by the Ifo think tank estimated that Europe’s largest economy would have the world’s largest current account surplus, at about $280bn [...]
Weak Eurozone is dragging down UK growth forecasts September 11, 2014 BRITAIN’S burgeoning economic recovery is still being held back, economists at the Institute of Chartered Accountants in England and Wales (ICAEW) warned today. It chopped its 2014 GDP growth forecasts for the UK from 3.4 per cent to 3.2 per cent as weak demand across the Channel was now hitting British export volumes. Worries over the [...]
Lululemon ups 2014 forecast September 11, 2014 CANADIAN clothing heavyweight Lululemon Athletica reported a higher-than-expected quarterly profit yesterday, mitigating some of the damage from a series of mishaps last year, spurring it to raise its 2014 profit forecast and pushing its stock higher. Lululemon’s shares jumped 13.9 per cent on the results to $43.73 yesterday, after it reported a 13 per cent [...]
Uber driver hit with first fine September 11, 2014 Ride hire app Uber suffered a fresh blow in Germany yesterday, after a Frankfurt taxi operator won a temporary injunction against an Uber partner driver. Earlier this month, the Frankfurt regional court imposed an injunction on the firm’s ride-sharing offering UberPop – that allows passengers to share a hire car to the same destination – [...]
Philips needs solid numbers if he’s to see through his three-year plan – Bottom Line September 11, 2014 So you’ve had a row with your other half, and the next day, with the ensuing awkwardness still lingering, your eyes drift towards the posh chocolates in Waitrose. Combine ’em with some flowers, you reckon – chuck in a faux-sentimental card and maybe even a two-day break in Bruges – and hey presto, problem solved. [...]
House sales up again with flood of new buyers September 11, 2014 The housing market resurged again in July, defying expectations that activity was slowing down, industry figures revealed yesterday. The number of first-time buyers surged by 25 per cent in the year, according to the Council of Mortgage Lenders (CML). More than 30,000 bought a place on the housing ladder in the month, the biggest number since [...]