Earnings season: Morgan Stanley bankers set for bigger bonuses, while Citigroup and JP Morgan traders face drop October 12, 2014 Third quarter earnings season is here and the fun on Wall Street is about to begin. Morgan Stanley's bankers look set for the biggest bonus payouts on Wall Street this year, while JP Morgan and Citigroup bonus traders may be less fortunate. According to estimates seen by Bloomberg, Morgan Stanley "probably had the biggest increase [...]
Europe needs a €300bn “New Deal” says French Economy minister October 12, 2014 France and Germany are facing recession worries and Italy is already shrinking. The Eurozone is disinflating. Is it time for a New Deal? The answer according to French Economy Minister Emmanuel Macron, is yes. By referencing the game-changing New Deal of 1930's in an interview published in the weekly Journal du Dimanche, Macron showed exactly how [...]
U2’s Bono backs Ireland over corporation tax: How does the UK compare? October 12, 2014 In an interview with the Observer, Bono, the lead singer of U2 defended Ireland's corporation tax approach, even as the war with the EU intensifies. Ireland's corporation tax, at 12.5 per cent, is one of the lowest rates going. Companies like Apple and Google have been quick to identify the benefits of operating out of the [...]
3.2m people play “most expensive game of all time” Destiny every day October 12, 2014 It has been over a month since Destiny was released, yet interest in the "most expensive game of all time" is showing no signs of slowing down. According to developer Bungie, 3.2m people play the game every day. And when they're playing, they're staying – clocking an average game time of around three hours a [...]
Ukraine crisis: Russia pulls 17,000 troops from border October 12, 2014 Russia is pulling troops away from the Ukrainian border, ahead of president Vladimir Putin’s meeting with Petro Poroshenko. 17,600 soldiers stationed in the Rostov region have been ordered to return to their bases. According to Russian news agency RIA Novosti, the troops’ training exercises have now come to an end. A ceasefire [...]
Ebola in America: Texas health care worker becomes first person to contract disease on US soil October 12, 2014 Ebola is now officially spreading in the US, after a Texas health care worker tested positive for the virus today. The worker had been treating Ebola patient Thomas Eric Duncan at a Dallas hospital, a statement from the Texas health services department confirmed. It marks the first time someone has contracted the deadly [...]
Tesco board to lose two members as chief exec Dave Lewis continues to rebuild October 12, 2014 Tesco is said to be losing two of its most senior executives, as the beleaguered supermarket looks to rebuild from the shock revelation of a £250m profit overstatement last month. Company secretary Jonathan Lloyd is reported to have resigned, while the chairman of the audit committee Ken Hanna is said to be stepping down [...]
EU-US trade deal: Business vs NGOs October 11, 2014 The proposed EU-US free trade deal known as the Transatlantic Trade and Investment Partnership (TTIP) has become a subject of hot controversy across Europe and the US. TTIP even made its way into the campaign for Scottish independence, with the SNP claiming the deal would open up the NHS for privatisation. The debate intensified last [...]
Balfour Beatty circular on Parsons Brinckerhoff deal gets approval October 11, 2014 Infrastructure company Balfour Beatty announced yesterday that its shareholder circular regarding the proposed sale of its US business Parsons Brinckerhoff (PB) to a Canadian bidder has been approved by the UK listing authority. The sale price of PB amounts to £820m. The company said in a statement: The sale price represents a significant return on [...]
UK set to land 378,000 jobs thanks to re-shoring October 11, 2014 The UK could see 378,000 jobs created over the next three years thanks to mid-market firms re-shoring some of their business, according to research from General Electric Capital and Warwick Business School. Furthermore, executives of these businesses believe revenues could rise by 14.8 per cent – or £3.8m firm per annum, with an average up-lift [...]