Eurozone confidence slides on geopolitical fears June 27, 2014 The latest data from the European Commission (EC) has shown a drop in headline Eurozone consumer confidence, falling to -7.5 in June. Analysts had expected to see data firm up slightly, with economists forecasting an increase to -6.7 this month from a reading of -7.1 in May. In a preview of today's release, [...]
Third UK growth estimate fails to meet high hopes of analysts June 27, 2014 A third estimate of UK growth has seen first-quarter activity unrevised by economists, static at 0.8 per cent in the first three months of this year on the last quarter of 2013. Data from the Office for National Statistics remained in line with the second estimate of GDP, which also saw growth unrevised at 0.8 [...]
Why Facebook and Google’s lack of diversity is bad for business June 27, 2014 Facebook has followed hot on the heels of Google by releasing data on the diversity of its employees. To the surprise of no one, it turns out Facebook is mostly white and male, much the same as Google, and a reflection of the tech industry at large. Research shines a light on why the lack [...]
Berendsen revenues up, in line with expectations June 27, 2014 UK laundry service provider Berendsen has announced that trading was in line with management expectations for the half-year ending 30 June 2014. At constant exchange rates, group underlying revenue was up 3 per cent year-on-year. Underlying revenue increased by the same amount in its core growth business. Revenues were calculated as being one per cent [...]
London Stock Exchange to buy Russell Investments for £1.6bn June 26, 2014 The London Stock Exchange went on the front foot yesterday to clinch the group’s biggest takeover in its 200-year history, landing a £1.6bn deal to challenge the dominance of its US rivals. The group will buy American index provider Russell Investments from Northwestern Mutual Insurance Company, after beating New York-based rival MSCI in a hotly [...]
Bank of England mortgage lending cap attempts to stop boom June 26, 2014 The Bank of England announced a new mortgage lending cap yesterday, with the hope that the rule would cool down the housing market if credit became too frenzied. Governor Mark Carney revealed the rule, which will put a ceiling on banks’ riskier mortgage lending. The financial policy committee (FPC) decision means that no more than [...]
Liberty Living pulls London IPO due to market concerns June 26, 2014 Liberty Living has scrapped its plans for a listing on London’s main market less than a month after announcing its intentions, citing adverse market conditions. Liberty is a brand of the Dublin-listed student property fund Brandeaux, which was forced to suspend its shares last summer after it was overwhelmed by redemption requests by investors. “This [...]
House building boost falls short of national need June 26, 2014 THE NUMBER of new houses built rose by four per cent in the three months to May, compared to the same period last year, but construction remains depressed far below what the country needs to address its systemic house supply shortage. According to the National House Building Council (NHBC) there were 37,975 new homes registered between March [...]
What the other papers say this morning – 27 June 2014 June 26, 2014 FINANCIAL TIMES GoPro soars on Nasdaq debut Shares in GoPro soared higher than the daredevil sports enthusiasts who use its action cameras as it made its stock market debut yesterday leaping more than 30 per cent to over $31 in its first morning of trading. The initial public offering is the biggest for a consumer [...]
Glastonbury no longer just for hippies as City gets ready to party June 26, 2014 Once the reserve of hippies and staunch lefties, Glastonbury has started to appeal to a much wider audience, with luxury winnebagos for £8,250 a pop for those not in favour of pitching tents. This year, we’re expecting Glasto regulars RLM Finsbury founder Roland Rudd, Deloitte head of property Andy Rothery, Serco’s newbie chief Rupert Soames [...]