What investors are looking for in today’s US jobs report May 2, 2014 Investors are hooked on this afternoon's US jobs market report. We've got the critical nonfarm payrolls (NFP) number coming up, and analysts expect to see that 215,000 jobs were created this April. If that happens, it'll be the strongest month for the US labour market since November, the month before the country saw a period [...]
What you need to know before the open May 2, 2014 A mixed open's expected for European markets today, as investors come back from the May Day holiday and start digesting some of the key data from yesterday, along with what's out today. European manufacturing data is predicted to show improvements for Italy, Spain and Germany, but numbers for France may well confirm the slide seen [...]
Pfizer confirms offer hike for AstraZeneca as it argues case to the PM May 2, 2014 Pfizer has upped its offer for UK drugs giant AstraZeneca by £3bn and has sent a letter to Prime Minister David Cameron outlining the benefits of such a deal. The drug company's improved offer amounts to £50 per share. Pfizer confirmed that should the deal go ahead it would establish corporate and tax residency in [...]
RBS unveils £1.6bn first quarter profit May 2, 2014 RBS saw pre-tax profit hit £1.64bn in the first quarter of this year – a 98 per cent increase from 2013. The state-backed lender's operating profit jumped to £1.5bn from £747m a year earlier, as operating costs fell and impairment charges diminished by almost two-thirds. Chief executive Ross McEwan, who's been leading the bank's latest [...]
InterContinental set to return $750m to shareholders May 2, 2014 Intercontinental Hotels Group (IHG) has said it is pleased with its start to the year reporting a growth in revenue per available room of six per cent for the first quarter. The rise was driven by an increase in occupancy 2.4 percentage points and a rise in the average daily rate of 1.9 per cent. [...]
Barclays loses head of Asia-Pacific business May 2, 2014 Barclays has said Robert Morrice, its Asian Pacific chairman and chief executive (CEO), is retiring after 17 years in the role. Andrew Jones and Eiji Nakai will step into the breach as co-CEOs, the bank said today. Jones is currently chief operating officer for Asia Pacific, while Nakai is chief executive of Barclays Japan business. [...]
Any Other Business – 02/05 May 2, 2014 JOHN Lewis’ flagship shop on Oxford Street transformed itself from a department store into a period drama last night for the launch of a new exhibition celebrating its 150th anniversary. Actors swanned about in period dress acting out the long and interesting history of the business, while invitees sipped cocktails and champagne. Even the heavy [...]
Mixed morning for Asian markets ahead of US jobs report May 2, 2014 Asian markets are a mixed bad this morning as investors await the release of US payrolls later in the session. Economists estimate the US will report the biggest increase in non-farm payrolls since November last year, reports Bloomberg. The survey of 94 economists forecasts that 218,000 workers were added to payrolls in April. US economic [...]
Pfizer sweetens bid for UK giant May 1, 2014 US DRUG giant Pfizer is weighing plans to return with a blockbuster $106bn (£63bn) bid for British rival AstraZeneca, laying the ground for one of the biggest takeover battles since the financial crisis. Pfizer is preparing to increase its suggestion of £46.61 per share (made in January) to above the £50 mark – a level [...]
Backlash as Labour’s plans to control rent prices start to fall down May 1, 2014 ED MILIBAND’S plot to overhaul the private rented sector was unravelling last night as the key industry body that Labour claimed was working on plans for a rent benchmark denied it is involved. The blow comes as it emerged most buy-to-let landlords are unable to offer three-year tenancies under the terms of their mortgages, according [...]