This week’s 4 must-see charts March 7, 2014 The Fed’s use of the word “weather”, vulnerable high street profits, gold’s revival, and the economic effects of the Ukraine crisis. We bring you some of our favourite analysts’ picks of the most important graphs this week. David Lebovitz, global market strategist at JP Morgan Asset Management: There has been a lot of discussion of [...]
Ukraine PM says there will be no recognition of Crimean referendum March 7, 2014 The Ukrainian prime minister Arseniy Yatsenyuk, has told CNBC that there will be no international recognition of the referendum aking the people of Crimea if they wish to join the Russian Federation. Yatsenyuk said: No-one will recognise this referendum, apart from maybe North Korea, Syria and Israel. I want to be very clear – Crimea [...]
Why this analyst believes time is running out to prevent a housing bubble March 7, 2014 Both the government and the Bank of England need to take urgent action to prevent the UK from entering into another housing boom, according to chief UK economist at Berenberg, Robert Wood. The warning comes after a host of data releases showing rapid increases in house prices across the UK. The Halifax house house price [...]
Alliance Trust starts registering English companies ahead of Scotland vote March 7, 2014 Alliance Trust, the Dundee-based investment management group, has begun setting up registered companies in England, ahead of the Scottish referendum. The firm said it’s a precautionary measure when it comes to tax, financial regulation and what currency Scotland would use if independent – another knock for Alex Salmond. Chief executive Katherine Garrett-Cox said: The referendum [...]
Bad news mounts for Bitcoin as Japan plans tax March 7, 2014 The bad new keeps on mounting for the world's most popular cryptocurrency Bitcoin. The Japanese government has said that Bitcoin is not a currency and some transactions using it could be taxed. Chief cabinet secretary Yoshihide Suga, told reporters on Friday: If there are transactions and subsequent gains, it is natural…for the finance ministry to [...]
Boohoo confirms £560m listing next week March 7, 2014 Online fashion website Boohoo has confirmed this morning that it’ll debut on London’s Alternative Investment Market (Aim) market next week, with a market cap of £560m. Shares will be trading from next Friday, with 600m placed at 50p each, raising £300m. The firm’s got plans to spend £50m of what’s raised via the flotation on [...]
What you need to know before the open March 7, 2014 A mixed open for Europe this morning as investors await the US employment report. Consensus is that US hiring increased enough in February to leave the Fed’s tapering plan on track. The S&P 500 saw a record finish again yesterday as weekly jobless claims dropped to a three-month low. The ECB disappointed yesterday, leaving its [...]
Turkey’s prime minister confirms possible Facebook and Youtube ban March 7, 2014 Turkish prime minister Recep Tayyip Erdogan has said the country could ban Facebook and Youtube after local elections on 30 March, because, he claims, it’s being used by his political opponents to discredit him. On a late night TV interview yesterday, he said he’d rather shut the sites down then see them be used against [...]
Asian markets rise as investors await US jobs data March 7, 2014 Asian shares are rising on the back of gains seen on Wall Street yesterday as investors turn their attention to US jobs data to be released later today. A Reuters survey of economists forecasts US non-farm payrolls to have increased by 149,000 in February, outpacing the 113,000 seen in January. Markets remained calm in the [...]
Firms lash out at government over migration March 6, 2014 BUSINESS leaders have accused the government of holding British firms back after a Conservative minister called for tighter immigration controls, despite a new report which contradicts his claims. In a speech yesterday immigration minister James Brokenshire said the government is sticking to its target of cutting net migration to the tens of thousands by 2015, [...]