London Report: Healthy economic data due as the UK’s growth continues June 16, 2014 ONGOING growth is expected to be reflected in healthy economic data out this week, showing strength in public finances, consumer price inflation, retail sales and manufacturing. Howard Archer of IHS Global Insight said: “Consumer price inflation is expected to have edged back down to 1.7 per cent in May as some transport prices ease back [...]
Wall St The Week Ahead: Defence stocks gain attention June 16, 2014 WITH the possibility of escalating violence in Iraq, stocks in the defence sector could garner more attention this week. The stock market and oil prices were rattled late last week after violence in the nation escalated as a Sunni insurgency against the government heats up. A continued escalation of the conflict could result in a [...]
iPhone charger recall issued due to “safety risk” June 13, 2014 Apple has issued a recall of European iPhone chargers over fears that it could overheat posing a safety risk. 37 countries where the 5W European USB power adapter was sold with iPhone 3GS, iPhone 4 and iPhone 4S models between October 2009 and September 2012 are affected. UK models of the 5W USB power [...]
Shares, stocks and corporate news: What you need to know before the US open June 13, 2014 US markets are expected to open lower, with equities heading for a weekly loss. Concerns about a disruption in oil supplies have grown as Iraq descended further into violence following the fall of Mosil and Tikrit to Sunni Islamic insurgents. The International Energy Agency said the situation was particularly worrying since Iraq is forecast to [...]
Wonga boss Errol Damelin steps down June 13, 2014 Founder and chairman of payday lender Wonga Errol Damelin has stepped down from the company's board. The British-based entrepreneur co-founded Wonga in 2006 after setting up Supply Chain Connect. Wonga said in a statement: "Last November Damelin indicated to the Board that he wanted to begin an orderly exit from the Company after stepping down [...]
Jamaica decriminalises cannabis in “enlightened” approach to drugs June 13, 2014 Jamaica is set to liberalise its drug laws in what the Justice Minister Mark Golding called a "more enlightened approach" to dealing marijuana possession. Marijuana will be decriminalised for religious, medical and scientific purposes. Jamaicans will soon be able to carry up to two ounces of cannabis without fear of criminal prosecution. Instead, the possession [...]
BoAML: Wall Street success could be greatest threat to US recovery June 13, 2014 Forget geopolitical tensions or an emerging market slowdown, the success of the US' own financial system could now be the biggest risk to success. According to a Bank of America Merrill Lynch (BoAML) research report out today, the threat of Federal Reserve action to dampen excesses on Wall Street may in turn kill off the [...]
Petra share price to sparkle as 122.52 carat blue diamond set to be world’s most expensive June 13, 2014 Petra Diamonds has recovered an exceptional 122.52 carat blue diamond its Cullinan site in South Africa. That same mine has produced the largest rough gem diamond ever, the 3,106 carat Cullinan diamond. Martin Potts, an analyst at FinnCap, says that this stone may break the record price paid for a rough diamond. The current record [...]
Second Twitter exec resigns with goodbye tweets after Ali Rowghani’s exit June 13, 2014 Twitter's head of media in North America is leaving the social network – just a day after COO Ali Rowghani stepped down. Chloe Sladden, a senior executive reporting directly to Rowghani, was instrumental in forging relationships between Twitter and its media partners including broadcasters and publishers. She also worked closely with Twitter's high [...]
Bonmarche profits soar June 13, 2014 Women's retailer Bonmarche has enjoyed a massive rise in profit before tax of 66 per cent, to £8m for the year ended 29 March. Like for like sales grew by over 10 per cent, with revenue climbing 12 per cent to £164m. The company's market share of women's value sector also rose by a hefty [...]