Stepping into the Eurozone– top tips on overseas trading August 13, 2014 The UK has strong ties to the Eurozone, with euro countries being our biggest trading partners by far, in particular France and Germany (UK/German bilateral trade is valued at around €153bn). The strong cultural ties, open market and political climate encouraging free trade between member countries makes the EU an attractive option for thriving UK [...]
Scottish independence currency contingency plans in place, says Bank of England’s Mark Carney August 13, 2014 Contingency plans have been made by the Bank of England ahead of the Scottish referendum in response to uncertainties over the country’s currency if it becomes independent. Bank of England governor Mark Carney said the body had "a wide range of tools and plans" to deal with any financial issues arising from the referendum, regardless [...]
Drive your money further while navigating international payments August 13, 2014 Across the City, eyes have been watching the steady rise of the pound against the euro over the last 12 months. With a stream of positive economic data coming in since Q4 of 2013, sterling has been slowly strengthening month by month, hitting a peak of €1.27 against the euro and $1.72 against the dollar [...]
Scandal-hit American Apparel posts bigger-than-expected losses August 13, 2014 American Apparel has reported bigger than expected losses for its second quarter, as the company attempts to ride out a series of scandals relating to founder and former chief executive Dov Charney. The retailer said in a preliminary filing that it expected to make a net loss of $15m (£8.9m) for the three months [...]
Russian Football Union risks Fifa sanctions for accepting Crimean teams into league August 13, 2014 Russia has risked incurring the wrath of Fifa after its football union voted to incorporate three clubs from the annexed Crimea region into their third division, a decision apparently motivated by fear of upsetting president Vladimir Putin. The Russian Football Union, host federation of the 2018 World Cup, has breached Fifa statutes which state [...]
Land Securities Group sells off 50 per cent stake in Bristol shopping centre for £268m August 13, 2014 Land Securities Group, the owner of the Walkie Talkie building, has sold off a 50 per cent stake in a Bristol shopping centre for £267.8m. The UK’s largest property company has sold half of its stake in Cabot Circus and Quakers Friars, a joint venture with Hammerson, to AXA Real Estate as it reshapes its [...]
France is new “sick man” of Europe as growth falls behind European average August 13, 2014 France is struggling to keep up with the rest of Europe when it comes to economic growth, prompting the Centre for Economics and Business Research (CEBR) to dub it "the sick man" of Europe. According to a CEBR report, France is yet to see the benefit of measures put in by the European Central [...]
PlayStation 4: Sales reach 10 million as 14 November UK release date revealed for PlayStation TV August 13, 2014 Sony has sold 10m of its PlayStation 4 consoles in the nine months since launch and has revealed a 14 November UK release date for its new PlayStation TV streaming device. Speaking at gaming conference Gamescom, Sony Computer Entertainment chief Jim Ryan said consumer sales of the console, not just units shipped to retailers, had [...]
Interest rate rise will be gradual and limited, says Mark Carney August 13, 2014 The Bank of England (BoE) has raised its 2014 growth forecast from 3.4 per cent to 3.5 per cent. However, those hoping for a rapid rise in rates will be disappointed thanks to weaker than expected growth in wages. The Bank now expects earnings to rise by just 1.25 per cent for 2014. [...]
Arcadia strikes deal to launch Topshop and Miss Selfridge in mainland China August 13, 2014 Sir Philip Green's high street retailers Topshop and Miss Selfridge will debut in China next month through a deal with local online partner ShangPin.com. The deal between Green's Arcadia Group and online department store ShangPain will take the two retailers to consumers in 400 cities across the country. This is the first time [...]