Ukraine’s central bank confirms measures to stop capital flight February 26, 2014 Ukraine’s central bank has put out a statement saying it’ll "take measures to stop capital flight" from the country. Let's just hope nobody starts muttering "capital controls". Stepan Kubiv, the bank’s chairman, also said it wants the International Monetary Fund (IMF) to prepare a financial aid programme, after the government's finance minister said the country's [...]
Carl Icahn says EBay’s “governance failures do not have a shelf-life” February 26, 2014 In another open letter to EBay stockholders, activist investor Carl Icahn has again lashed out at the online auctionhouse for what he perceives as failures of corporate governance. The investment guru has struck out at specific EBay board members, including Marc Andreessen and Scott Cook. Icahn has reiterated his call for voters to support a [...]
What you need to know before the US open February 26, 2014 It looks like US stocks are set to open slightly up today, but with just new home sales figures for January out, it’s not an overly illuminating day for investors looking for more information on the health of the economy. Like a lot of data we've seen over the last few weeks, home sales will [...]
Are we stuck with the “wrong sort of growth”? Maybe not February 26, 2014 Our economy has bounced back over the last 12 months – no doubt about it. But is this welcome resurgence built on shaky ground? Critics have pointed out that the growth often appears to be fuelled by consumer spending and a somewhat warped housing market. Hardly reassuring. Such fears were brushed off last month by [...]
Here’s what 3 banks are saying about Tesco’s latest turnaround plan February 26, 2014 Tesco’s shares are down more than four per cent, after the supermarket chain scrapped its profit margin target and laid out plans to invest in lowering its prices, prompting analysts cuts their ratings and price targets. Deutsche Bank cut its earning before interest and tax (EBIT) forecast of a £50m decline in the year to [...]
Visa Europe caps transaction fees after EU antitrust probe February 26, 2014 Credit card company Visa Europe will cap the transactions fees it charges to 0.3 per cent, the European Commission said on Wednesday. The cut in fees represents a 40-60 per cent reduction in Visa Europe's multilateral interchange fees (MIFs). The cap will initially apply to to cross-border transactions within the European Economic Area (EEA) but [...]
Merkel told to abandon green subsidies February 26, 2014 Angela Merkel should abolish renewable energy subsidies due to their lack of cost-effectiveness, according to a report from the Expert Commission on Research and Innovation that will be presented to the chancellor on Wednesday. The commission took aim at the Green Renewable Energy Act (EEG), which cost €22bn (£18bn) in subsidies last year. The body [...]
CEO of disappearing Bitcoin exchange assures users he’s “still in Japan” February 26, 2014 After the highly popular Bitcoin exchange disappeared entirely yesterday, CEO Mark Karpeles has put an announcement on MtGox's site to "reassure everyone that I am still in Japan". Karpeles says that he is "working very hard with the support of different parties to find a solution to our recent issues." The Bitcoin exchange is alleged [...]
Pictures: Ghostly photos mixing the City of old with new February 26, 2014 Check out these images from the Museum of London which mesh old photos of the City with shots from today. It's spooky, it's interesting, we like it. The images haven't just been created for a laugh. The images have been created to publicise an update for the Streetmuseum app which allows you to overlay the [...]
Maria Miller just came up with the most convincing case for Scottish independence yet February 26, 2014 Culture secretary Maria Miller must really want a yes vote. Speaking today at the Oxford Media Convention the cabinet minister said that if Scotland does vote for independence this September, it will be a vote to leave the institutions of the UK. That, Miller says, would include leaving the BBC. We're sold. A Scottish independence [...]