London Report: Petrofac buoys FTSE but poor store data weighs on market August 27, 2014 BRITAIN’S top equity index yesterday climbed to its highest closing level in nearly two months, with oil and gas services company Petrofac buoyed by positive broker comments. However, supermarkets J Sainsbury and Tesco underperformed after weak sales data. The FTSE 100 index ended up 0.1 per cent, or 7.90 points, at 6,830.66 points. Petrofac rose [...]
New York Report: Wall Street treads water August 27, 2014 US STOCKS were little changed yesterday, with the S&P 500 creeping up to another record closing high in a lethargic session, though a number of retail stocks traded heavily after reporting results. The Dow Jones industrial average rose 15.31 points, or 0.09 per cent, to 17,122.01. The S&P 500 gained 0.1 point, or 0.01 per [...]
2,000 migrants drowned trying to flee to Europe so far this year, says UN August 27, 2014 Almost 2,000 people have drowned in the Mediterranean in a desperate bid to flee to Europe so far this year, according the United Nations refugee agency. "In all, we believe that 1,889 people have perished this year while making such journeys, 1,600 of them since the start of June," a spokeswoman for the UN's refugee [...]
Scottish independence: ‘Yes’ vote would damage shipping and maritime sector, says industry survey August 27, 2014 If the Scots vote for independence in September's referendum, it could hit the country's shipping and offshore maritime sector, according to a survey by leading international accountant and shipping adviser Moore Stephens. The survey of leading members of the shipping industry found that 55 per cent of respondents believed a yes vote damage the industry. [...]
UK property: Stamp duty is still a barrier to sale as demand looks flat August 27, 2014 Demand may be seeping out of the housing market, but it's taking its time about it. The National Association of Estate Agents, which conducts monthly surveys of affiliated agents, found the average number of buyers registered per office had decreased 0.9 per cent between June and July,while the number of houses registered for sale increased [...]
Warren Buffett and Floyd Mayweather square off ahead of Maidana rematch August 27, 2014 Warren Buffett appears to be the latest member of Floyd Mayweather's "The Money Team", making him "teammates" with Justin Bieber. Mayweather, the pound-for-pound best boxer in the world, posted an image of Buffett visiting him at his gym to his Instagram page, accompanying it with a caption describing Buffett as "the original founder of The [...]
McDonald’s set to fight back against Moscow crackdown August 27, 2014 After Russian courts ordered the closure of four McDonald's branches for 90 days, the global food giant has responded saying it will appeal the rulings and is scrutinising the decision made by the courts. "We do not agree with the court's resolution and will appeal against this resolution in accordance with the procedure established by [...]
European bond yields fall further after Draghi’s hints at quantitative easing August 27, 2014 European bond yields fell again on Wednesday, as the knock-on effect from a speech by European Central Bank (ECB) president Mario Draghi continued to quell investors' fears over muted growth. Germany's 10-year yield fell to 0.9 per cent in London (and a record 0.91 per cent in New York), while Spanish 10-year yields fell to [...]
Can Ebola be stopped? 14th century Venice could teach us something August 27, 2014 In 1348, the Black Death arrived in Venice from Sicily. From there it travelled across most of Europe and ultimately killed off an estimated 45 per cent of the population. Spread by a simple flea bite, it turned out to be one of the most devastating pandemics in human history. Venice, the hub [...]
Uber dives into fast food delivery business with UberFRESH trial August 27, 2014 Not satisfied with providing taxi rides or delivering groceries Uber is trying its hand at the fast food delivery business, with a new service called UberFRESH. The taxi app claims it will be able to deliver food from local restaurants in 10 minutes or less. Unfortunately for Uber-loving Brits this service will only be available [...]