CME wants to double its share of forex trades with new exchange April 14, 2014 EXCHANGES giant CME Group hopes to channel another $160bn (£95.6bn) per day of currency trades through its marketplaces when it sets up a new European unit this month. CME Europe opens on 27 April and will initially offer futures contracts in 30 currency pairs as well as energy-related products like biofuels. Currently around three per [...]
Treasury says fuel tax freeze helps economy April 14, 2014 THE FREEZE in fuel duty will boost the economy by up to £7.5bn, a new government report calculated yesterday, arguing that cheaper petrol prices will lead to higher spending and increased investment. The Treasury’s analysis – which has been peer reviewed by academics – was met with encouragement from the Institute of Directors (IoD), which [...]
Worker killed as part of building at 20 Grosvenor Square collapses April 14, 2014 A MAN has died and another was injured after part of a building collapsed at 20 Grosvenor Square in central London yesterday. The man died while he was working on the West End site, which was bought by Abu Dhabi Investment Council last year and was being converted by luxury developer Finchatton into a residential [...]
Shares at French Connection soar as sales pick up April 14, 2014 SHARES in French Connection leapt nearly 11 per cent yesterday, reaching their highest level in almost three years after the fashion group posted a strong start to the year. The brand, which became famous in the 1990s thanks to the success of its FCUK logo, has been trying to turn around its business after years [...]
Analyst Views: What did you think of French Connection’s trading update? April 14, 2014 ANDREW WADE | NUMISWhile French Connection has only reported an 11 week period, it is a strong start to the year. It was better than we had been expecting and reflects its ongoing success turning the business around, including improvements in stock buying, range architecture and product design. FREDDIE GEORGE | CANTOR FITZGERALDWhile French Connection [...]
BBC’s flagship shows joining Amazon Prime April 14, 2014 SHERLOCK, Doctor Who and Life on Mars will soon become available on Amazon Prime Instant after the online retail giant signed a deal to add top BBC shows to its revamped video streaming subscription service, formerly known as LoveFilm.
Spanish output leads boost for euro industry April 14, 2014 THE EUROZONE’S industry grew at a faster pace than analysts expected in February, climbing by 1.7 per cent from the same month in 2013 as the currency union continued its modest recovery. Production expanded by 0.2 per cent from January, driven upwards by strong performances in Germany and Spain, with 0.4 and 0.7 per cent [...]
Greek deficit in 2013 substantial despite optimism for bond issue April 14, 2014 THE GREEK government’s spending and tax revenue came in close to target for 2013 but the country’s deficit remains significant, despite positive headlines following last week’s successful bond issues. The deficit excluding support for the still-troubled Greek banking system was €3.84bn (£3.17bn) last year, equal to 2.1 per cent of GDP, marginally lower than the [...]
Hedge funds make bets on rise in sterling April 14, 2014 TRADERS have ramped up their bets on sterling, with a big jump in the number of hedge funds taking long positions in the pound in expectation of a rate hike, US data shows. Long contracts on sterling rose 38 per cent higher versus the prior week, up from 33,572 at the start of April to [...]
Wealth manager consolidation continues with off-shore deals April 14, 2014 TWO MORE wealth managers joined the growing trend for consolidation in the sector yesterday after Brooks Macdonald and Rowan Dartington struck deals to buy offshore rivals. Brooks Macdonald, which is listed on the junior stock market, said it had acquired DPZ Capital, a 15-person strong investment manager based in Jersey. Brooks will pay £5.7m up [...]