What you need to know before the open March 14, 2014 Talks between US and Russia will be taking place in London today, ahead of the much-contended referendum in Crimea on Sunday. Concerns over the fortunes and future of the region continue to eat into investor confidence, with European markets expected lower across the board today. Asian markets suffered in Friday trading from the anxiety-induced risk [...]
Tony Benn passes away aged 88 March 14, 2014 Tony Benn, the veteran left-wing politican, has passed away at the age of 88, his family have said. They've issued a statement this morning, confirming Benn died peacefully early this morning at his home in west London, surrounded by his family. Thanking the NHS staff and carers who have looked after him, they said: We [...]
Ukraine and China fears drag down Asian markets March 14, 2014 The Nikkei has hit a one-month low in Friday trading, sliding 3.3 per cent, as concerns over Chinese growth and the situation in Ukraine continue to weigh heavy on investors’ minds. There’s little to add in the way of comforting economic data, and the slowdown in the world second-largest economy and growing tensions over Ukraine [...]
Bank bonuses to face fresh curbs March 13, 2014 BANK bonuses could become a thing of the past as a result of a series of aggressive new rules which would see financiers forced to wait 16 years before they can fully enjoy their pay. The Bank of England’s prudential regulation authority (PRA) yesterday revealed plans which threaten to claw back bonuses up to six years [...]
Morrisons’ woes wipe £2.6bn off supermarkets March 13, 2014 FEARS of a new supermarket price war wiped around £2.6bn off the combined value of Britain’s major grocers yesterday after Morrisons launched a major assault on its discount rivals. Shares in Morrisons plunged 12 per cent – to their lowest level since 2008 – after it revealed it would invest £1bn in slashing prices over [...]
London house prices pull further ahead of regions March 13, 2014 HOUSE prices in the City soared by more than any other London borough, while the capital’s market continued to blast ahead of the rest of the UK, new figures showed yesterday. It came as mortgage lending shot up by more than a third in the last year, led by high loan-to-value mortgages. London prices increased [...]
Investors pulling billions out of crisis-hit Russia March 13, 2014 INVESTORS are deserting Russia, according to a new study by Goldman Sachs, which says capital outflows from the country could double from last year. The bank estimates that outflows have already risen to $45bn (£26.98bn) in this quarter, a 60 per cent increase on the same period last year, and that the estimate is consistent [...]
Downgrade for RBS over risky cost cut plans March 13, 2014 RBS was downgraded last night by credit ratings agency Moody’s which said the bank’s latest structural reforms will “depress profitability” at a time when the bank has little money to spare should things go wrong. The bank announced plans to slash costs and streamline the business last month, and Moody’s said the aim itself is [...]
What the other papers say this morning – 14 March 2014 March 13, 2014 FINANCIAL TIMES Zuckerberg attacks US surveillance Mark Zuckerberg, Facebook founder and chief executive, has strongly criticised the US government for dragging its heels on plans to reform its mass surveillance programme. In a post on the social network, Zuckerberg said he had called President Barack Obama to express his “frustration” over the damage the government [...]
London listings in best start to year since 2007 March 13, 2014 LONDON’S red hot stock market is set to deliver the best first quarter for floats since the financial crisis, as a host of companies rushed to join the flotation queue yesterday. The capital’s stock market has raised $5.92bn (£3.5bn) since the start of the year, the best first quarter for initial public offerings since the [...]