Bank of England MPC votes to keep interest rates at record low September 4, 2014 The Bank of England's monetary policy committee has done just what everyone was expecting, and held rates where they are at 0.5 per cent. The minutes of last month's meeting revealed the nine-person panel had been split seven to two in favour of leaving rates at their historic lows, and it is considered unlikely that [...]
Watch: Dyson unveils the 360 Eye, its robotic vacuum cleaner September 4, 2014 In recent years James Dyson has experimented with fans and hand dryers, but it seems he has returned to his first love, the vacuum cleaner. At a press conference in Japan this morning, Dyson unveiled his first robotic vacuum, the 360 Eye. Admittedly, robotic vacuum cleaners aren't a new idea – in 2001 Dyson trailed [...]
French unemployment edges higher adding to Hollande’s woes September 4, 2014 The unemployment rate in France has edged higher in another blow to President Hollande’s efforts to reduce jobless rates- one of a variety of economic woes for the French leader. 10.2 per cent of the French population were out of work in the second quarter of this year, compared to 10.1 per cent in the [...]
Save money on your overseas transfers and payments September 4, 2014 With an expanding expat community (6 million British citizens reside overseas, by the last count) and a diverse population with global connections at home more Brits than ever before are finding it necessary to send money overseas. According to the World Bank the equivalent of more than $23 billion was transferred out of the UK [...]
NHS funding should target the old for tax hikes and benefit cuts, says report September 4, 2014 Higher earners over the age of 40 should be targeted for "critical needs taxes" if the UK is to keep up with demands from an increasingly strained NHS, a new report has said. Charges and private insurance were rejected as possible solutions by the report, compiled by a commission within charity the King's Fund. "We [...]
Paddy Power names Andy McCue successor to chief executive Patrick Kennedy September 4, 2014 A successor to Paddy Power chief executive Patrick Kennedy, who departs at the start of next year, has been found close to home. Despite an “international search”, a new leader was right under their noses all along: managing director of the online bookies’ UK and Ireland retail operations Andy McCue will takeover from 1 January [...]
European markets cautious as Nato summit begins September 4, 2014 European markets took a break from recent rallies as the leaders of Nato countries prepared to meet at the Celtic Manor resort in Wales this morning. Having hit its highest level in 14 years yesterday, the FTSE 100 rose a modest 0.1 per cent to 6,880 in early trading, while France's Cac fell 0.4 per [...]
Co-operative Group is back in profit as it confirms Richard Pennycook as chief executive September 4, 2014 The troubled Co-operative Group has made interim chief executive Richard Pennycook will take on the role full-time. Pennycook was promoted from his position of chief financial officer in March after the surprise resignation of Euan Sutherland. His appointment is likely to give the group's investors – including the hedge fund owners of its banking arm [...]
Betfair share price up with record quarterly revenue on target thanks to World Cup September 4, 2014 Betfair scored big in the three months to July – a period which happened to coincide with the World Cup – recording its best-ever quarterly revenues, which sent shares up three per cent this morning. The bookies’ revenue jumped by 30 per cent to £117.3m, largely down to the world's biggest football tournament, though stripping [...]
SuperGroup share price rises 4.2 pc as revenues jump September 4, 2014 SuperGroup shares opened 4.2 per cent higher this morning, after it reported a strong start to the year, with total revenues up 15.9 per cent, and both wholesale and retail divisions up by double-digits. The business, which owns the SuperDry brand, recorded group revenues of £87m for the three months to July 26, up [...]