FTSE 100 records lowest close for a year as geopolitical and Eurozone worries take their toll October 9, 2014 The FTSE 100 slid to its lowest close for a year today, with anxious investors scurrying to sell off stock due to geopolitical and Eurozone worries. The index of blue-chip shares was down eight per cent on the bell, a 50.39 point drop to 6,431, the lowest level since 10 October last year. [...]
Eurozone inflation rate: Mario Draghi calls on governments to help fight deflation October 9, 2014 Mario Draghi is determined to tackle low inflation in the Eurozone, and has called upon governments to also play their part in the fight against possible deflation. The president of the European Central Bank (ECB) today announced a new package of credit easing measures, including targeted long-term refinancing operations and a bond-buying programme. [...]
iPad Air 2: UK price, release date, spec and rumours about Apple’s 16 October launch event October 9, 2014 Apple may only just have released the iPhone 6 into the wild but already Tim Cook is moving on to the next thing with a launch event next week. It's all top secret of course. An invite has been sent out to the press for 16 October teasing "It's been way too long" and revealing [...]
World economic freedom falls as rule of law retreats in the US October 9, 2014 World economic freedom has fallen and is well below its peak level of 6.92 in 2007, according to the Fraser Institute's Economic Freedom of the World (EFW) report. The report examines the policies and institutions of 151 countries. In 2012, the most recent year for which data is available, the average score dropped to 6.84. [...]
There was “no reasonable way to continue” at Pimco, says bond king Bill Gross October 9, 2014 Bill Gross left Pimco because there was no “reasonable way to continue there”, the so-called 'bond king' said today. Admitting it was the “most obvious question”, Gross – whose surprise exit has led to a record outflow from the fund he used to manage, while giving Janus Capital's share price a nice little boost [...]
Tiny London flat snapped up for £100,000 October 9, 2014 Here at City A.M. we're big fans of tiny houses. There was the super-skinny north London house which went to auction for £235,000 even though it measured in at just 83 inches wide. Then we learned of a 12ft-wide house being built in south London – which was put up for sale for [...]
Spot the Balls quiz: Who said what at this year’s party conferences? October 9, 2014 As the party conference season comes to an end, we're pretty confident many of the speakers will look back and hope parts of their speeches will be forgotten. Unluckily for them, we were on hand to take down every word. But can you remember who said what? Take our quiz to see whether you are [...]
Mark Zuckerberg: Facebook has no plan to monetise WhatsApp October 9, 2014 Mark Zuckerberg has admitted Facebook does not have a plan to monetise WhatsApp, following its $22bn takeover which completed this week. The deal was initially agreed way back in February, yet Facebook has not yet worked out how to make money out of the instant messaging service which currently has 600m users. Currently [...]
Blood moon 2014: Pictures of the October lunar eclipse as UK misses out on sky spectacle October 9, 2014 A lunar eclipse wowed skywatchers yesterday as it turned the moon dramatic shades of red and orange. The so-called “blood moon” appeared in the skies across North America, western parts of South America, Australia, and parts of South East Asia, The spectacular event was the second lunar eclipse of the year, but the UK missed [...]
World Bank calls for $20bn fund to tackle Ebola spread October 9, 2014 Jim Kim, President of the World Bank, has called for the introduction of a global fund worth $20bn (£12bn) to help tackle the Ebola epidemic currently gripping West Africa. Yesterday, the United Nations' loan provider predicted that Ebola could cost the global economy as much as $33bn over the next two years if it [...]