Asian markets wary after east Ukraine vote May 12, 2014 Asian shares outside of Japan are on the rise as investors drew hope from the possibility of the Chinese government taking further action to boost the economy. Last week, President Xi Jinping said the world's second largest economy needed to readjust to a "new normal". Restrictions on foreign investment in listed Chinese companies have been [...]
Hawks circle as economy booms May 11, 2014 THE BANK of England is facing growing pressure to reconsider its cheap money policies after another set of business surveys will today point to strong growth across the economy. The Confederation of British Industry (CBI) said this morning it now sees the economy growing by three per cent this year, up from its forecast of [...]
Cameron softens tone on Pfizer deal as boss flies in May 11, 2014 PRIME MINISTER David Cameron has signalled a softening of the government’s position over the Astrazeneca Pfizer takeover bid, warning against putting undue pressure on the deal. In an interview yesterday, Cameron said the government has made “very good progress” on guarantees that jobs would remain in the UK if the deal went ahead, adding that [...]
Separatists in Ukraine cheer huge turnout May 11, 2014 SEPARATISTS in the east of Ukraine last night hailed a number of self-rule referendums in the region a success, despite accusations of fraud. Voters in the country went to the polls to determine whether eastern regions of Donetsk and Luhansk will remain in Ukraine or operate under self-rule. Votes were being counted overnight and a [...]
BP to invest $1.5bn in Egypt May 11, 2014 BP plans to invest $1.5bn (£890m) this year to increase its production of natural gas in Egypt, hit by an energy crisis following three years of political turmoil, the state news agency MENA said yesterday. Egypt is seeking to raise $2.5bn to cover natural gas imports until the end of December, the head of state-run Egyptian Natural Gas Holding [...]
Brits lack investment knowledge May 11, 2014 Over half of Britons do not have financial goals, while of those that do nearly two thirds do not have a plan in place to reach them, according to a survey released this morning. Natixis Global Asset Management found that 54 per cent of UK investors admitted they had not set themselves financial goals, with [...]
Juncker in line for EC president May 11, 2014 Jean-Claude Juncker said yesterday he had won assurances from German chancellor Angela Merkel that he would become the next EC president if their centre-right bloc wins the European parliamentary elections on 22-25 May. Juncker’s comments, made in an interview with Bild am Sonntag paper, contrasted with Merkel’s own suggestion on Saturday that the real choice [...]
What the other papers say this morning – 12 May 2014 May 11, 2014 FINANCIAL TIMES Fraud office steps up Barclays probe Bob Diamond, John Varley and other senior members of Barclays’ former management are set to be questioned under caution by the UK’s Serious Fraud Office, in an acceleration of its probe into alleged corrupt arrangements in Qatar as part of the bank’s emergency cash call in 2008. [...]
UK firms getting stronger despite commodity fall May 11, 2014 THE TURMOIL in the commodities markets knocked £47.4bn off yearly revenues reported by the biggest London-listed companies in the last quarter, disguising a steady recovery in other firms’ trading, research out today claims. Turnover at FTSE 350 firms that reported annual figures by the end of March fell 1.5 per cent to £1.51 trillion, The [...]
London is the super-rich capital of the world with 72 billionaires May 11, 2014 LONDON is now home to 72 billionaires, making it the world’s capital city for sterling billionaires and giving the UK the highest number of super-rich residents per head in the world. The number of British-based billionaires has exploded in the last decade, rising from 30 to more than 100. However, Alisher Usmanov has lost his [...]