QE2 strong option says BOJ chief October 28, 2010 THE Bank of Japan (B0J) said yesterday boosting its five trillion yen (£38bn) asset buying plan was a “strong option” if the economy deteriorated. The BOJ’s governor Masaaki Shirakawa made the admission as he said he was bringing forward its next policy review to 4-5 November right after the US Federal Reserve meets, which markets [...]
WI-FI HITS UNDERGROUND October 28, 2010 CUSTOMERS will be able to log on to the internet from their laptops or mobile phones at Charing Cross Tube Station from 1 November through BT Openzone. The trial, which will test how the service works and look at customer take up, will include live Transport for London service updates available to all wi-fi users [...]
CME to focus on clearing as hits its target October 28, 2010 CME Group, the world’s biggest futures exchange operator, reported profit in line with Wall Street’s expectations, and pegged future growth to global expansion and its derivatives clearing business. The operator of the Chicago Mercantile Exchange, Chicago Board of Trade and New York Mercantile Exchange benefited from a surge in Treasury futures and energy contracts trading. [...]
Chi-X cool on plans to make trading more transparent October 28, 2010 Europe’s largest dark pool Chi-X Europe yesterday played down plans by international regulator IOSCO to limit the activities of these opaque trading systems by making them more transparent. Global regulatory body the International Organisation of Securities Commissions (IOSCO) on Wednesday issued a consultation paper that outlined proposals to “minimise the adverse impact of the increased [...]
Demand for HD television buoys Pace October 28, 2010 Pace, the world’s largest set-top box maker, has managed to maintain the blistering rate of sales it set in the wake of the World Cup. Demand for its high-definition services continues to rocket, solidifying the firm’s position at the top of the market, ahead of bitter rival Motorola. The UK-based firm now says it is [...]
UK Coal output jumps but cuts full-year target October 28, 2010 Britain’s biggest coal miner UK Coal posted a 22 per cent rise in production in the third quarter and said it remains on track to meet its full-year output guidance of around 6m tonnes for its deep mines. However, the company cut its estimate for surface mines production to about 1.5m tonnes, from 1.6m previously, [...]
Stuart Rose cheers One New Change October 28, 2010 CITY shopping centre One New Change attracted thousands of workers from across the Square Mile when it opened for trading yesterday. Outgoing Marks & Spencer chairman Sir Stuart Rose officially opened the mall, which is home to 60 shops and restaurants on Cheapside opposite St Paul’s Cathedral. Topshop owner Sir Philip Green and representatives of [...]
High street sales rise for the fourth month in a row October 28, 2010 RETAIL sales continued to rise in October despite the wide ranging cuts announced by the government last week, according to figures from the Confederation of British Industry. But the rate of growth slowed compared with September – which was at a six-year high – but long term outlook remains unclear. The CBI’s monthly distributive trades [...]
Nintendo hit as high yen takes its toll on business October 28, 2010 NINTENDO yesterday reported a half-year loss after being hit by falling sales and the high value of the yen, which lowers its overseas earnings. The Japanese computer games firm posted a net loss of 2bn yen (£15.6m) for the six months to 30 September. This compares with a net profit of 69.5bn yen for the [...]
CITY VIEWS: WHAT WILL ONE NEW CHANGE MEAN FOR THE CITY? October 28, 2010 MARK WEBSTER | BT “It means I won’t have to spend my weekends shopping, as I can do it all in my lunch break. It’s interesting to see such a large project in these economic times, but from the crowds today it seems like it will be used.” JANDRE ELS | REDSTONE “It’s quite a [...]