London’s house prices up 17 per cent in one year April 15, 2014 LONDON’S hyperactive housing market is sending prices surging up, rising at more than three times the pace of the rest of the UK during the year to February. Yesterday, the Office for National Statistics (ONS) announced that house prices in the capital have risen by 17.7 per cent in the year to February, in comparison [...]
End of wage squeeze on horizon as inflation falls to 2009 levels April 15, 2014 CONSUMER prices are now rising at the slowest pace in four and a half years, a dramatic turnaround which could end the pressure on family incomes from years of above-target inflation. Official figures released yesterday show that the consumer price index (CPI) rose by only 1.6 per cent in the year to March, the lowest [...]
What the other papers say this morning – 16 April 2014 April 15, 2014 FINANCIAL TIMES Market troubles dent Moelis flotation Boutique investment bank Moelis raised $163m from its US initial public offering after last-minute investor concerns forced it to shrink the size of its share sale and cut the price of the deal below its expected range. The IPO is the latest to come under pressure on the [...]
EU passes barrage of banking regulation April 15, 2014 EUROPE’S banking union was voted through by MEPs yesterday after two years of work on the plan to break the link between banks and their government’s finances. The rules include a system of bail-in rules that aim to make investors pay for banks’ losses rather than the taxpayer. And banks will have to create plans [...]
Regulators approve crackdown on high-frequency trading April 15, 2014 HIGH frequency traders (HFT) will have to stop work when regulators deem markets too volatile, under rules voted through by the European Parliament yesterday. Regulators argue the algorithmic traders promote instability in markets and damage other investors. The sector maintains it is an important source of liquidity and that the traders help markets find prices. HFTs [...]
Extra reporting requirements imposed on non-financial firms April 15, 2014 EUROPEAN firms will have to publish updates on areas as varied as their environmental impact, gender diversity and corporate social responsibility programmes under rules approved yesterday. The rules are a departure from the traditional reports that focused on business performance and finance. The UK government said it is vital the rules do not bring in too [...]
Co-op chair Lidbetter to fast track Lord Myners’ reforms April 15, 2014 THREE Co-op Group directors are working on implementing Lord Myners’ reforms as fast as possible, City A.M. understands, hitting back at the non-execs who have campaigned against the changes. Group chair Ursula Lidbetter has publicly backed Myners’ bid to streamline the ungainly democratic structure. But others, led by Midcounties Co-operative boss Ben Reid, have opposed [...]
Yahoo boosted by Alibaba April 15, 2014 STRUGGLING internet icon Yahoo last night reported sluggish revenue growth for the first quarter of 2014. But its shares were boosted by strong revenues at Alibaba, a Chinese firm in which Yahoo has a 24 per cent stake. Yahoo’s revenues edged up one per cent to $1.09bn (£652m) but net income fell 25 per cent [...]
Twitter buys data firm Gnip April 15, 2014 TWITTER welcomed another tech firm into its flock yesterday with the acquisition of Gnip, a provider of social data to websites such as Reddit, Instagram and Tumblr, for an undisclosed sum. “This acquisition signals clear recognition that investments in social data are healthier than ever,” said Gnip chief executive Chris Moody on the deal. Twitter [...]
Ukip strikes back after claims that Farage misused allowance April 15, 2014 UKIP party officials were on the attack yesterday, after claims that leader Nigel Farage misused allowances from the European parliament. The party published a list of journalists at The Times who it accuses of conspiring against Ukip to boost the fortunes of the Conservative party by publishing the expenses claims. Yesterday, The Times published a [...]