Inflation dips to four-year low in China as economy slows down November 10, 2014 Inflation in China remained low in October, signalling the economy was still cooling. The consumer price index – the headline inflation figure – was 1.6 per cent higher in October than it was last year, according to figures yesterday released by the National Bureau of Statistics. Annual CPI is at its lowest since December 2009. [...]
Italy industrial production in new downturn November 10, 2014 ITALY’s industrial production fell by 0.9 per cent month-on-month in September, according to official figures released by Istat yesterday. To add insult to injury, August’s figure was revised down to 0.2 per cent from 0.3 per cent. The troubled nation fell into a triple dip recession in the first half of the year. This Friday [...]
Trinity Mirror ad revenue dented by dip in supermarkets’ spend November 10, 2014 TRINITY Mirror, the publisher best known for its Daily Mirror, Sunday Mirror and Sunday People titles, yesterday announced a whopping 12 per cent decline in ad revenue during the 17 weeks to 26 October. The company attributed the fall to a decrease in spending from supermarket brands, which dragged overall revenue down by five per [...]
Senegal discovery boosts Cairn November 10, 2014 SCOTLAND-based oil and gas explorer Cairn Energy yesterday announced a second oil discovery off the coast of Senegal in West Africa. The company described the find as “significant”, adding that the oil was of high quality. Shares in the company soared 12.1 per cent on the news, to close at 177p. The discovery was made [...]
City Moves for 11 November 2014 | Who’s switching jobs November 10, 2014 RSA Ian Hood has been promoted to the newly-created role of group chief digital officer at the insurer. He was most recently digital and multi-channel director at RSA, and has also held senior positions at MORE TH>N, Swiftcover, and Direct Line. Deutsche Bank JP Rangaswami has been appointed chief data officer at the bank. Based [...]
Best of the Brokers for 11 November 2014 November 10, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com DIGNITY Numis reiterated its “hold” rating, following an “unexpectedly strong” operating profit in the third quarter, up 23 per cent. The broker said the group “should continue to show solid operating progress despite the weaker than expected trend in UK deaths”. J SAINSBURY [...]
Soaring Tesco helps FTSE but Serco plummets – London Report November 10, 2014 BRITAIN’S top share index yesterday advanced to a five-week high as investors bought into the consumer staples and retail sectors, with ailing supermarket group Tesco leading the gainers. The stand-out mover of the day, however, was mid-cap services outsourcer Serco, whose shares fell 32.2 per cent to 215p after saying it planned a rights issue [...]
Trains and pharma boost Dow and S&P – New York Report November 10, 2014 THE DOW and S&P 500 yesterday extended their run of record high closes for a fourth session, led by transport and healthcare shares. The Dow Jones industrial average rose 39.81 points, or 0.23 per cent, to 17,613.74, the S&P 500 gained 6.34 points, or 0.31 per cent, to 2,038.26, and the Nasdaq Composite added 19.08 [...]
Archbishop of York urges UK businesses to adopt living wage to tackle income inequality November 10, 2014 It is time for UK businesses to start supporting the living wage, the Archbishop of York argued to Britain’s business leaders today. Archbishop John Sentamu delivered a stern and simple message to the Confederation of British Industry annual conference: “Work must pay.” The living wage, which is set at £9.15 per hour in [...]
Russia Today found guilty of bias and warned of sanctions by Ofcom November 10, 2014 Broadcasting regulator Ofcom has judged TV station Russia Today to be guilty of biased reporting, and has warned it will face tough sanctions following any future failures to provide impartiality. Russia Today, which is funded by the Russian federal government, failed to provide balanced reporting on the on the Ukraine crisis in March, according [...]