How the big three central banks are dealing with falling inflation March 25, 2014 The last few months have seen inflation trend downwards in the Eurozone, US, and UK. Today's news that UK inflation has fallen to a 52-month low has stirred concerns among some quarters that central banks aren't reacting to falling price pressures. The latest Office for National Statistics data shows inflation falling to 1.7 per cent [...]
UK house prices see biggest jump since summer 2010 March 25, 2014 House prices rose 6.8 per cent compared with a year earlier – the biggest increase since August 2010 – and up from 5.5 per cent in December, according to figures from the Office for National Statistics. A Bloomberg poll revealed analysts expected a rise of 6.6 per cent. London led the increase, with prices up [...]
Inflation falls for fifth consecutive month March 25, 2014 Annual inflation has fallen from 1.9 per cent to 1.7 per cent in February, according to the latest figures from the Office for National Statistics. That's a 52-month low, and a dramatic fall from 2.9 per cent last June. The latest figure "is now clearly below the Bank of England's two per cent target rate", [...]
Entrepreneur accidentally donates $13,000 to fund doge-themed race car March 25, 2014 The founder of payments platform Moolah.io has suffered from something of a fat finger. Instead of donating 2m Dogecoin to the fundraiser "Doge4Nascar", while hungover Alex Green managed to accidentally enter an extra zero, and ended up giving 20m Dogecoin ($13,200) to the cause. Writing on Reddit, he blamed his "silly keyboard", but says that [...]
Siemens is “committed” to renewable energies, says boss March 25, 2014 Siemens' chief executive, Roland Aurich, has said that the UK’s pledge to produce 30 per cent of UK energy from renewable sources by 2020 has given certainty to how the company “goes forward” with investments. Speaking on Radio 4’s Today Programme, Aurich said we “need to make sure we combat climate change”. Siemens is going [...]
Kingfisher shares climb on bumper profits March 25, 2014 B&Q owner Kingfisher is enjoying a rise in share price of four per cent after the company announced bumper profits before tax of 9.8 per cent to £759m for the year 2013/14. The company saw revenues rise 5.2 per cent to £11bn despite a difficult first quarter in 2013 and a weak economic environment in [...]
RSA shares fall after insurer prices £773m rights issue March 25, 2014 RSA’s said this morning that a rights issue, designed to help it move on from the scandal relating to its Irish business, will see it raise £773m, in line with expectations of £775m. The insurer’s now headed up by Stephen Hester (pictured), ex-chief executive of RBS. He commented: Following a comprehensive review of the options [...]
Wolseley shares gain despite European trading hit March 25, 2014 Wolseley, the world’s largest plumbing supplies group, has said strong trading in the UK and US lifted its profit – though it saw more challenging conditions in Continental Europe. Profit before tax came in at £316m in the half year ended in January – up 63.7 per cent on a year earlier. Trading profit rose [...]
Centrica lands €1.1bn Irish deal March 25, 2014 Energy giant Centrica together with private equity groups Brookfield Renewable Energy Partners and iCON Infrastructure Partners II have agreed to buy Irish energy firm Bord Gais Energy (BGE) for €1.1bn (£0.9bn). Centrica will take ownership of BGE's electricity supply business in Ireland as well as the Whitegate gas-fired power station, with an enterprise value of [...]
What you need to know before the open March 25, 2014 European bourses are expected to see a positive start this morning, although trading’s still choppy as geopolitical tensions continue. Speculation on further stimulus from China has been growing, which seems to have boosted sentiment. On the other hand, this could be misplaced – the government’s determined to trim recklessness in the banking system, so added [...]