Three cheers for services! Now get back to work UK February 5, 2014 The UK economy is still 1.3 per cent smaller than it was before the Latest Great Global Recession (or whatever you want to call it) came along and ruined everything back in 2008. At least that’s what the Office for National Statistics estimated at the end of last year. But most of us, certainly blogging [...]
Royal Mail pay deal is reached February 5, 2014 A conclusion to the enduring row over pay, pensions and conditions at Royal Mail. A overwhelming majority of workers have accepted the deal – which'll see wages rise by nine per cent over three years, and also give workers legal protection on their terms and conditions. The Communication Workers Union (CWU) has announced that 94 [...]
2 things to look out for in tonight’s Twitter results February 5, 2014 Twitter’s results tonight (out around 10pm GMT) will be our first look into a company that had one of the hottest IPOs last year and is currently trading at more than double its $26 (£16) opening price in November. These are the two main things to look out in Twitter’s numbers tonight: User Growth One [...]
Shark-hunters: BBA mulls new role fighting crime February 5, 2014 Cybercrime is top of the Bank of England’s list of threats to financial services, and the British Bankers’ Association (BBA) could be appointed to fight attacks on the system. Rogue states, terrorists or criminals could all try to take down the payments infrastructure, and today a report was published on Waking Shark 2, a trial [...]
GlaxoSmithKline profits miss as China challenges weigh February 5, 2014 Britain's biggest drugmaker GlaxoSmithKline (GSK) has reported growth in profit before tax of four per cent, reaching £6.6bn for the year ended 31 December 2013. GSK saw earnings per share reach 31.1p; above analyst estimates of 30.8p. The company's full year revenue rose one per cent to £26.5bn. GSK announced that it expected around 30 [...]
Why ITV’s new drama channel should excite investors February 5, 2014 It might be time to change the channel. It’s not just Downton Abbey fans who are excited by the news that ITV's launching its first pay-TV channel, dedicated to British drama. The head of trading at Galvan, Ed Woolfitt, has some advice for investors and telly-watchers alike: “switch over and buy ITV”. Encore will be [...]
How tube strikes are hitting London’s economy February 5, 2014 Disruption getting around London will likely have a "dampening impact" on London's economy. IHS Global Insight's Howard Archer says that the main impact will be on the capital's shoppers, but this shouldn't result in a major loss, as consumers defer their purchases or choose to go online for their goods. Tourism, restaurants and entertainment in [...]
EU retail sales drop 1.6pc in December February 5, 2014 Eurozone retail sales in the run up to Christmas weren’t strong as analysts had forecast, or thought, denting hopes that GDP will have improved in the fourth quarter. In December, sales fell one per cent year-on-year after expectations of a 1.5 per cent rise. And November’s 1.6 per cent increase has been revised down to [...]
UK service activity hits seven-month low February 5, 2014 This morning, Markit PMI figures for UK services showed a slowing in services activity in January, at 53.3 from 58.8 – a seven-month low. But the fact the UK services PMI is down from the 62.5 peak seen in October of last year is no reason to worry, says Berenberg’s Robert Wood. When combined with [...]
How charities lavish millions of taxpayer money on left-wing campaigns February 5, 2014 The government is spending millions of pounds lobbying itself and threatening the independence of charities, according to new research released today by the Institute of Economic Affairs (IEA). The Sock Doctrine outlines how charities in receipt of government money are engaging in political activism such as campaigns to hike the price of alcohol and ban [...]