Analysts predict price cuts at Sainsbury’s April 29, 2014 Analysts at Deutsche Bank issued a positive note on Sainbury’s today ahead of its full-year results next week, arguing that the supermarket group could be a relative winner in the sector compared to its rivals but warning that it will have to join them in slashing prices to stay ahead of the game. The [...]
The West’s latest sanctions might deal a heavier blow than we think April 29, 2014 Despite being criticised for their mildness, the newest sanctions imposed on Russian companies and indviduals by the US and EU send out a clear message on elements of Russia's way of doing business. Russian officials have warned the country’s hi-tech sector could be affected and Gazprom, Russia’s massive gas company, has said the sanctions have the [...]
In Pictures: London’s best offices to work in April 29, 2014 If you could work in any office in London where would it be? Giving yourself vertigo half way up the Shard? Zipping down a slide at Moshi Monsters’ HQ in Shoreditch? Well, stop wondering because the good people at the British Council for Offices (BCO) has come up with the top six offices to [...]
Half of all Tube trains are running as normal despite the strike April 29, 2014 Half of all scheduled Tube services are running this lunchtime despite the strike action by the RMT union, Transport for London has said. Two-third of Underground stations are open, and there were 7,961 buses operating on the city streets this morning – the highest number ever, says TfL. Boris Bike hires are up [...]
Is this the laziest place in England? April 29, 2014 The Department for Transport today released figures on how many people in England are walking or cycling, raising an important question – what's the laziest place in England? The answer on this metric is East Lindsey, Lincolnshire, where only 76.7 per cent of people surveyed answered positively. This means, astonishingly, that nearly a [...]
MIT undergrads land $500,000 of free Bitcoin April 29, 2014 Two students at the Massachusetts Institute of Technology (MIT) have raised $500,000 for a bold new project to create a Bitcoin "ecosystem" at the heart of one of America's most prestigious university's. All 4,528 of MIT's undergraduates will receive $100 worth of Bitcoin this Autumn. Founder of MIT's Bitcoin club Dan Elitzer and computer science [...]
Who is Nokia’s new chief executive Rajeev Suri? April 29, 2014 Nokia this morning appointed 46-year-old Rajeev Suri as chief executive officer to run its business following the €5.44bn (£4.48bn) sale of its handset division to Microsoft. Last week’s sale saw former chief executive Stephen Elop return to Microsoft to run its newly acquired mobile division. The ‘turnaround specialist’ Up until now Suri has led Nokia [...]
What you need to know before the US open April 29, 2014 US stocks futures pointed to a higher opening today, following some better-than-expected corporate results. European markets have continued to received a lift from positive earnings reports and news of mergers. A two-day Fed policy meeting begins later today, with expectations that a decision will be taken to taper for a fourth time. The increase in [...]
Ministers defend Royal Mail sale but refuse to name priority investors April 29, 2014 Ministers and advisers leading the Royal Mail float have insisted the sale was a success, arguing that a higher price might have imperilled the deal and that the priority investors chosen were suitable. In his latest appearance in front of the business select committee to defend the £1.7bn Royal Mail stake sale, business secretary [...]
Britain’s biggest banks have to withstand this doomsday scenario April 29, 2014 Banks have been told they have to be able to cope with a 35 per cent crash in house prices, a 3.5 per cent fall in GDP and unemployment of almost 12 per cent if they want to avoid further pressure from the Bank of England. These type of stresses have all happened in [...]