Eurozone GDP sluggish again as pressure builds on Draghi December 5, 2014 If Mario Draghi and the European Central Bank (ECB) left investors frustrated after quantitative easing didn’t materialise yesterday, that frustration will only grow as the latest Eurozone GDP figures again revealed the weakness in the single market. Eurozone GDP figures for the third quarter were again weak, with quarterly growth for the 18-nation bloc bang [...]
Car industry set to create 50,000 jobs as reshoring takes hold December 5, 2014 The automotive industry is set to create a 50,000 new jobs as it reshores, according to research from Lloyds bank. British manufacturers will bring jobs back to the UK over the next couple of years to make more of an impact in the green auto market. Companies are choosing Britain, according to Lloyds, to shorten [...]
January’s rail fare rise will be the lowest in five years, says Rail Delivery Group December 5, 2014 A bit of good news on this dreary December day. The rail regulator has confirmed that fares will rise by just 2.2 per cent in January, the lowest rise in five years. In recent years beleaguered commuters have had to endure rises as high as eight per cent, but today rail industry body the Rail [...]
Balfour Beatty share price climbs after it rejects a £1bn bid from JLIF for its PFI contracts December 5, 2014 Balfour Beatty has rejected a £1bn bid for its lucrative portfolio of infrastructure contracts from John Laing Infrastructure Fund (JLIF), saying it’s not enough. Shares in the UK’s largest construction firm climbed more than three per cent after it said the bid falls “significantly short” of its value. The firm said its value stood at [...]
Oil price drop: How does it affect Russia, Saudi Arabia, Venezuela, the US, the UK and the Eurozone? December 5, 2014 The price of Brent crude oil has dropped by around 40 per cent since June, at one point falling to its lowest level in more than four years. It's now stablising at around $70 a barrel, but speculators think it could fall further – perhaps down to $65, maybe even as far as $60 [...]
Where do the UK’s wealthiest property investors live? Rich list shows how London’s power is shifting December 5, 2014 The richest investors in property have increased their wealth by 35 per cent in the past 12 months, meaning a swelling of wallets to the tune of £55.8bn since 2013. A new rich list compiled by Estates Gazette reveals the richest 250 people in world property have so much wealth, that £100m is needed to [...]
Canary Wharf owner Songbird Estates says revised £2.6bn Qatar offer is not enough December 5, 2014 Canary Wharf owner and takeover target Songbird Estates has said a revised offer of 350p per share made by the Qatari sovereign wealth fund late yesterday undervalues the company. The board of Songbird said the new cash bid valuing the firm at £2.6bn “does not reflect the full value of the company, its unique position and [...]
UK house prices: Berkeley Group brushes off lower growth to post 80 per cent profit growth December 5, 2014 UK house prices may have begun to slip from the meteoric growth levels seen earlier this year, but Berkeley group is still reaping the rewards. The British house building company reported a 79.9 per cent rise in profit before tax for the six months to 31 October, putting the figure at a healthy £305m. Revenue [...]
Crisis at the FCA as top regulator Clive Adamson departs December 4, 2014 Some of the City’s most senior insurance executives last night expressed their dismay at the departure of Clive Adamson from the Financial Conduct Authority (FCA). Adamson was widely respected within the industry for being a tough but fair regulator. The news that he is to step down comes days ahead of the publication of a [...]
Bond is back for the 24th time & he‘s got a new motor December 4, 2014 PINEWOOD studios yesterday announced that 007 will be returning to the screens for the 24th time in a film entitled Spectre. Daniel Craig will again play the suave British agent James Bond and it will also star Naomie Harris, Lea Seydoux and Monica Bellucci – all pictured above. Bond will have a new set of [...]