Gazprom and the EU agree “mutually beneficial relations” April 2, 2014 The chief executive of Russian state-controlled gas producer Gazprom has agreed with the EU that they have a shared interest in maintaining “mutually beneficial relations”. The giant supplier announced in a statement that boss Alexei Miller met with Guenther Oettinger, European energy commissioner, and discussed a "wide range of issues of bilateral cooperations". The news [...]
France names Sapin as finance minister April 2, 2014 Michel Sapin has been made finance minister of France, while industry minister Arnaud Montegbourg was given the new title of economy minister with oversight over industry and the digital economy. Sapin is an ally of embattled French President Francois Hollande and has previously served as a finance minister in the 1990s and labour minister. Sapin [...]
Eurozone producer prices fall more than expected April 2, 2014 Industrial producer prices fell 0.2 per cent in both the euro area and in the EU28 in February, according to figures from Eurostat. Analysts had expected a 0.1 per cent drop. A month earlier, prices saw a 0.3 per cent fall. Compared to a year earlier, prices fell 1.7 per cent in the euro area [...]
Surging construction sector loses some momentum in March April 2, 2014 The UK's construction sector is roaring a little less loudly this month. The latest purchasing managers' index data from Markit shows a sector PMI of 62.5 in March, below last month's 62.6. That's despite economists predicting that we'd see a rise to 63 this month. Nonetheless, that's a spectacular pace of growth in the sector. [...]
New competition authority says UK private healthcare will see a crackdown April 2, 2014 The newly-formed Competition and Markets Authority (CMA) has announced it’s cracking down on private healthcare benefits and incentive schemes. It’s also forcing the sale of some hospitals, after a two-year investigation by its predecessor, the Competition Commission. The watchdog says it’s shelving demands for BMI Healthcare, Britain’s biggest private healthcare provider, to sell off several [...]
Domino’s sales jump as e-commerce continues to grow April 2, 2014 Pizza delivery group Domino's has seen its like-for-like sales rise by 10.8 per cent. System sales rose by 14.8 per cent to £188.5m for the 13 week period to 30 March, according to the company's interim management statement. The company attributed the rise in part to its most successful meal deal ever offered – the [...]
GSK ends trial of lung cancer drug April 2, 2014 GlaxoSmithKline (GSK) has announced this morning that it’s decided to stop a third-phase trial of MAGE-A3ii, the lung cancer drug, after being unable to identify a group of patients that’ll benefit from the treatment. GSK said that a recent trial showed the drug “did not significantly extend disease-free survival when compared to a placebo”. It [...]
What you need to know before the open April 2, 2014 European markets are set to open up this morning after positive data from the US. Corporate data House prices in March grew by 0.4 per cent, slower rate then previous months, according to the Nationwide building society. House prices are now 9.5 per cent higher than they were at the same point last year. Fashion [...]
Asos’ profit takes a hit as retailer announces £2.5bn sales goal April 2, 2014 Asos has announced a 22 per cent fall in profit before tax to £20.1m the six months to February, as heavy investment in customer proposition, infrastructure, personnel and capacity takes its toll. But expansion costs were expected by and for the fashion retailer, and Numis has described it as “loaded with investment for growth” this morning. [...]
Average London house price hits £362,000 April 2, 2014 House prices in March grew by 0.4 per cent, a slower rate than in previous months, according to the Nationwide building society. House prices are now 9.5 per cent higher than they were at the same point last year. London house prices are up 18 per cent compared to March 2013. However, Nationwide said "there are [...]