Receivers called in as London’s Gherkin goes into administration April 24, 2014 What a pickle. Deloitte has just announced that it’s been appointed as receivers for the Gherkin, formally known as 30 St Mary Axe. Phil Bowers and Neville Kahn, both of Deloitte, have been appointed Joint Receivers. They’ve said that adverse interest rate and currency movements have seen the senior liabilities secured by the property increase [...]
How drugged up is the City of London? April 24, 2014 Not very, according to the latest Crime Survey for England And Wales. It appears the City is on a bit of a comedown. Official statistics published today show just how far recorded drug offences have fallen in the City. There were 440 recorded offences during 2013, down from over 1,000 in the 12 [...]
What you need to know before the US open April 24, 2014 US markets are expected higher today, buoyed by the tech results released last night. Apple’s jumped 8.3 per cent in pre-market trading. Data wise, orders for durable goods rose 2.6 per cent in March, above expectations and pointing to a lift in business investment. Initial jobless claims, however, increased by 329,000 last week, reflecting the [...]
What’s it actually like to work at Facebook? April 24, 2014 Facebook’s bumper annual results last night, with a 72 per cent increase in revenue on last year’s first quarter, means that working at Facebook right now is probably pretty sweet. No doubt they’re throwing giant beach balls around, high fiving each other and necking ice-cold Buds from their beanbags. Consider us jealous. But [...]
Evidence missing in action as Ireland bans ecigarettes in health facilities April 24, 2014 Ecigarettes are to be banned in Irish health facilities from 1 May. The Health Service Executive (HSE) said the crackdown was justified because the devices "pose a challenge to smoke-free campus enforcement and come with safety concerns for a healthcare environment." The HSE said the decision followed a detailed review of its health policy, adding [...]
ECB’s Draghi suggests minutes are a “logical next step” April 24, 2014 The European Central Bank's President is pushing efforts at greater clarity. Mario Draghi has said that "the publication of a richer account of our monetary policy deliberations", otherwise known as minutes, now "represents a logcal next step". The central banking chief thinks that publication would "provide a more detailed explanation of the reasoning" behind ECB [...]
Business confidence in Germany picks up in April April 24, 2014 The positive mood among German businesses improved in April, according to the latest data from think-tank Ifo, with a reading of 111.2 – from 110.7 in March and economists’ prediction of a slip to 110.5. The results, say Capital Economics, point to further recovery, reversing last month's fall. Current assessment came in at a solid [...]
Goldman Sachs says global investors are at risk because of this fundamental bias April 24, 2014 Choosing where to put money is a tricky process – a case of weighing up the potential returns and risks of a myriad of possible investments. And many of the financial professionals we trust to deal with this problem are suffering from a fundamental bias, according to a note from US investment bank Goldman Sachs. [...]
AstraZeneca keeps schtum on Pfizer approach as profits plunge April 24, 2014 The UK’s second-largest drugs firm has announced its quarterly earnings this morning, making no mention of the reported £60bn bid approach from US pharma giant Pfizer. AstraZeneca said profit before tax fell 50 per cent to $638m (£380m) in the first quarter of 2014, from $1.3bn a year earlier, as it felt the loss of [...]
Alstom in the dark over potential GE bid April 24, 2014 US engineering giant General Electric (GE) has entered talks to buy French company Alstom for roughly $13bn, according to reports from Bloomberg. Should the deal go ahead it would be the most substantial move made yet by GE chief executive officer Jeffrey Immelt to reverse the massive decline in GE's share price. The move would [...]