Japan sees its exports leap November 19, 2014 JAPAN’S exports jumped sharply in October in an encouraging sign that there are some drivers of growth in the economy, official figures showed this morning. The economy slipped into recession this week, and growth is slowing in key markets like China, but exports still managed to jump by 9.6 per cent on the year. Analysts [...]
BBVA puts €2bn bet on Turkey November 19, 2014 SPANISH lender BBVA yesterday bought another €2bn (1.6bn) stake in Turkey’s second largest private bank, Garanti. The 14.89 per cent stake comes from Dogus Holdings, and takes BBVA’s overall stake to 39.9 per cent. A global footprint was one fact which helped Spanish lenders BBVA and Santander through the financial crisis, as Spain’s domestic economy [...]
Pay gap falls as young women out-earn men November 19, 2014 THE GENDER pay gap has fallen to a record low, official figures showed yesterday, as young women now earn more than men. Among 22- to 29-year olds, women earn an average of 1.1 per cent more than men per hour. And for 30- to 39-year olds, women earn 0.2 per cent more. However, men still earn more [...]
Jump in female and foreign directors on big UK firms’ boards November 19, 2014 Britain is increasingly the home of international business, as the UK’s biggest firms have four-times more foreign directors than their US counterparts. And female representation on boards is also growing strongly One-third of FTSE 150 directors are non-UK citizens, compared with just eight per cent of S&P 200 board members in the US, Spencer Stuart’s [...]
Queens Park Rangers says public supports Old Oak Common stadium plans November 19, 2014 A public consultation has revealed strong support for a proposal by Premier League football club Queens Park Rangers to develop a vast area of west London. The club had planned to develop hundreds of acres of brownfield around Old Oak Common by building a new 40,000-seater stadium, as well as 24,000 homes. However, Geoff Warren, [...]
Quindell-linked analyst Andy Bryant resigns days after chairman Rob Terry exits November 19, 2014 Troubled insurance outsourcer Quindell saw another of its entourage jump ship yesterday when Andy Bryant, technology analyst at its sole remaining broker Cenkos Securities, resigned. The departure follows on from that of Quindell chairman Rob Terry yesterday and the resignation of broker Canaccord Genuity last month. A Cenkos spokesperson told City A.M. that Bryant’s departure [...]
Rochester & Strood by-election: Ukip set to win seat despite Mark Reckless’ EU repatriation row November 19, 2014 Ukip looks set to win a second seat in parliament today, despite an ugly row which has broken out within the party about comments made by candidate Mark Reckless over repatriation of EU migrants. Reckless claimed that European migrants living in the UK would be asked to leave the country if Ukip was the governing [...]
US Justice Department raked in $24bn this year on bank fines November 19, 2014 Giant bank fines helped the US Department of Justice triple its income from the charges this year, officials revealed last night. The DoJ is just one of several major finance regulators, and its total haul of fines for the financial year ending 30 September came in at a record $24bn (£15.3bn) – up from $8bn on the [...]
Taxi app wars: Uber vs Hailo vs Maaxi vs Lyft – Emil Michael gaff is latest hurdle in startup battle November 19, 2014 Fast-growing “ridesharing” app firm Uber hit the headlines for all the wrong reasons again this week as senior executive Emil Michael was reported suggesting the company hire researchers to dig up dirt on its media critics. The blunder is the latest in a long line of controversies that have plagued the startup over [...]
Pub industry says end of beer tie system could lead to closures and job losses November 19, 2014 Britain’s pub groups woke up with a hangover yesterday after MPs voted in favour of a shake up of Britain’s nearly 400-year-old beer-tie system, warning that a change to rules could lead to further pub closures across the country. Companies. including Enterprise Inns and Punch Taverns – two of the UK’s largest tenanted [...]