LA fitness selling 33 stores to slim down business March 7, 2014 UK gym chain LA fitness has announced it’s selling 33 of its 80 clubs as part of a restructuring plan to reduce its debt burden. By slimming down its portfolio, the group hope to secure its long-term future. Chief executive Martin Long said: It is a structural issue that is hampering LA fitness and it [...]
US jobs data: 175,000 workers hired in February March 7, 2014 On a seasonally adjusted basis, 175,000 US workers were hired in February. The number was significantly above analysts estimates of 149,000, suggesting a strengthening of the US economy. The labour force participation rate came in at 63 per cent, the same as was recorded last month. The unemployment rate ticked up to 6.7 per cent, [...]
Why Germany’s industry pickup isn’t that exciting March 7, 2014 German industrial production gathered steam in January, with output rising 0.8 per cent. While consensus was for a 0.7 per cent rise – so initially the pickup looks pretty encouraging – December’s fall of 0.6 per cent was revised up to a drop of 0.1 per cent, and several analysts had been expected a bigger [...]
Here’s the new app you can use to check your cash is real March 7, 2014 The Bank of England (BoE) has just announced the release of its new banknote app. The app provides the user with an interactive touch screen guide to the BoE's banknotes as well as checks on their security features. The £20 note has eight such security features. The Bank says the app is free and aimed [...]
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 [...]