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 [...]
Wolfson shares fall 15pc on $20m loss February 5, 2014 Audio semiconductor company Wolfson Microelectronics has seen its shares plunge 15 per cent this morning, after it reported revenues and gross margins dwindled in the fourth quarter as it turned a loss. The Edinburgh firm said revenue was hit by a "very volatile" phone market and faster-than-expected transition to 4G smartphones "benefitting a competitor". Revenue [...]
The 5 best ways commuters are beating today’s tube strikes February 5, 2014 With delayed services, and stations so crowded that they've had to be closed (and we can see why) many have decided to experiment with new ways to get to work. If you don't fancy using our guide to navigating the tube strikes, then here are some more innovative options. On your bike While this option [...]
Eurozone economy expanding at fastest rate since June 2011 February 5, 2014 We might finally be seeing a stronger recovery in the Eurozone. Eurozone output is rising at its fastest pace since 2011 according to the latest purchasing managers' index (PMI) data from Markit. Up from 52.1 to 52.9 in January – but still short of analyst expectations. Consensus estimates suggested we'd be seeing a jump to [...]
Broker ICAP’s revenues hit by US swaps rules February 5, 2014 ICAP has said this morning that its revenues were down six per cent year-on-year in the last three months of 2013 due to bank deleveraging and stronger regulatory controls. The UK-based broker said that “challenging market conditions” pushed earnings lower, but that its cost savings programme remains on track. Management said profit before tax expectations [...]
What you need to know before the open – 05/02 February 5, 2014 Europe is set to open marginally lower this morning. 35 minutes to go and the FTSE100 looks set to open down 20, at 6429. — David Jones (@JonesTheMarkets) February 5, 2014 US data that shows the impact of wintery weather, along with ongoing concern over economic slowdown in China are keeping investors cautious. [...]
Hargreaves Lansdown posts record revenue and profit February 5, 2014 Financial services company Hargreaves Lansdown has announced record revenue and profit growth in the second half of 2013, despite a “low interest rate environment”. Profit before tax growth of 11 per cent to £104.1m in the six months ended 31 December, with revenue up 13 per cent to £158.4m. The firm continued to see substantial [...]
Asian markets indecisive ahead of US data February 5, 2014 Asian shares are struggling to maintain a minor rally as an indecisive performance by the Japanese market drove further demand for safety in the yen and top-rated bonds. Should the US produce poor payrolls on Friday, Asian markets could suffer further as pessimism amongst investors rises. After a bumpy ride, the Nikkei has risen by [...]
How to find value in a volatile market February 4, 2014 A correction can be a good time to add on weakness – but capital protection should still be key OVER the course of last month, investors pulled around $12.2bn (£7.5bn) out of emerging market (EM) equity funds, according to EPFR data. And this month’s headlines have been no less dramatic, with the S&P 500 suffering [...]
Hedge your stocks with short-term bonds February 4, 2014 AFTER a volatile start to 2014 for equities, with the MSCI world index yesterday down more than 5 per cent year-to-date, investors will understandably be thinking about capital preservation. And while the prospect of monetary tightening in the West will be problematic for fixed-income, a careful selection of bonds could help to dampen portfolio volatility. [...]