Janet Yellen to give debut speech at Jackson Hole monetary policy forum August 17, 2014 The annual American monetary policy gathering in Jackson Hole, Wyoming will get underway this week, Janet Yellen’s first as chair of the US Federal Reserve. The events, which begin on Thursday, are centred on the topic of “re-evaluating labour market dynamics” this year. The Federal Reserve chair typically gives a speech on the Friday morning [...]
Jackson Hole: Home of the annual American monetary policy forum August 17, 2014 ■ The Federal Reserve Bank of Kansas City, one of the US central bank’s regional arms, invented the annual economic symposium back in 1978. ■ But the bank moved hosting the economic symposium from Kansas City after the first few years to Jackson Hole, a picturesque valley on the edge of the Teton Range of [...]
UK firms falling behind Europe on divi payouts August 17, 2014 WEAK British firms failed to cash in on the global recovery in the second quarter, with dividends rising at well below the average rate across the world, Henderson Global Investors said today. UK businesses paid dividends of $33.7bn in the second quarter, up 9.7 per cent on the year. That was largely down to the [...]
More pubs than ever are picking BT Sport over rival Sky Sports August 17, 2014 More pubs now subscribe to BT Sport than Sky Sports, according to the former state monopoly, as its £2bn investment in building a sports TV empire continues. In May, BT said more than 19,000 pubs, clubs and commercial properties had signed up for its sports service, putting BT neck-and-neck with Sky Sports, BT’s consumer division [...]
Concern over Tesco dividend August 17, 2014 FEARS that Tesco may have to cut its £1bn dividend increased yesterday after a fresh warning from one of the supermarket’s activist investors. Harris Associates, which owns a three per cent stake, told The Sunday Times that the dividend “should be cut if it’s paid for by borrowing” and not covered by free cash flow. [...]
Small business boom in line to create 1.9m new jobs this year August 17, 2014 THE UK’s small and micro businesses are responding to the growing economy and are set to create 1.9m new jobs this year, each paying on average £14,405. The jobs could potentially add £27bn to the UK economy in small business wages. Figures from insurer Direct Line also show that 400,000 home-based businesses are taking on [...]
Health and safety watchdog is accused of impartiality over fees August 17, 2014 THE Health and Safety Executive (HSE), the body responsible for ensuring businesses stick to strict guidelines and protect their employees, is accused of impartiality over the fees it charges to UK companies. The fee for intervention scheme allows the HSE to charge businesses that breach its code, with few challenging the payments. Laura Cameron, a [...]
Infrastructure is neglected August 17, 2014 A REPORT from a leading UK industry group has warned that political stalling and poor forward planning has dramatically hampered the country’s record as an attractive place to invest. Manufacturers’ association, the EEF, is calling for a UK infrastructure authority to put right years of underinvestment in roads, railways and airports. EEF business policy adviser [...]
City Moves for 18 August 2014 | Who’s switching jobs August 17, 2014 CWPA City and Westminster Property Associations announced the appointment of a new executive director, Charles Begley, who will take up his post in October. An ex-journalist and comms expert, he is a senior partner at TTA Property, part of The Good Relations Group and the specialist corporate, consumer and stakeholder real estate arm of top [...]
Best of the Brokers for 18 August 2014 August 17, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ESURE GROUP Berenberg has upgraded to “buy” from “hold”, also raising the target price to 286p from 267p. The broker believes esure can deliver an attractive yield of over six per cent in 2014-16, and is well placed to grow earnings in the [...]