The 3 best and worst places to hold Bitcoin February 4, 2014 The debate about how to deal with the virtual currency Bitcoin is still in its infancy, according to a report released by the Law Library of Congress. The report surveys 40 jurisdictions and the European Union on any regulations or statements from central banks and governments on the handling of Bitcoin. Of the countries surveyed [...]
Microsoft names Satya Nadella as next CEO February 4, 2014 Tech giant Microsoft have named Satya Nadella as their next CEO. Nadella was widely considered to be the front runner for the post, and has become the company's third boss, replacing Steve Ballmer. The search for the next chief took nearly 24 weeks, and Microsoft founder Bill Gates says there's "no better person to lead [...]
What you need to know before the US open – 04/02 February 4, 2014 US markets look poised to steady today, following yesterday’s shock manufacturing report. The numbers saw the S&P 500 experience its worst day since June yesterday, with both the dollar and global equities sliding. Global shares dropped to a near four-month low. But despite little in the way of data today to help investors plan a [...]
Microsoft’s next CEO has 4 huge challenges to face February 4, 2014 As rumours surrounding Microsoft’s next chief executive continue to swirl, we take a look at the four big challenges they're set to face. 1. Mobile Microsoft’s success in mobile with Windows Phone has been mixed, on the one hand its share of sales in Europe is hovering around ten per cent, and on the other [...]
MPs blast watchdog’s “Nuremberg defence” February 4, 2014 Junior bankers should not be allowed to claim they were “only obeying orders” when they mis-sell financial products to consumers, MPs said today in a row with the Financial Conduct Authority. Allowing front line sales staff to use the excuse amounts to a “post-modern Nuremberg defence,” said Mark Garnier, an MP on the Treasury Select [...]
The cheapness of emerging market stocks in 1 chart February 4, 2014 Emerging market stocks are cheap, say Bank of America Merril Lynch analysts, and they've got this fun chart to make the point. Chart oversells EM cheapness, but 'Atlas Mugged' so plaudits to BAML. pic.twitter.com/ZW8uw1vg3o — Paweł Morski (@Pawelmorski) February 4, 2014 Comparing the entire free float market cap of emerging market countries to individual [...]
Walmart’s $500m Canada growth plan February 4, 2014 While Walmart is grappling for growth in the US, it’s upping the ante across the border in Canada. The world’s biggest retailer is planning to invest $500m (£307m) in Canada over the next 12 months, completing 35 supercentre projects and revamping older sites. The superstore also said it’ll expand distribution networks to support growth and [...]
War on drugs is unwinnable says Clegg February 4, 2014 Nick Clegg has declared the war on drugs unwinnable and that a fundamental rethink of current policy is needed. Speaking on a visit to Colombia, the deputy prime minister said that the UK must end the conspiracy of silence surrounding the failure of prohibition, telling the BBC "If you are anti-drugs you should be pro-reform." [...]
Sainsbury’s shares are jumping this morning. Here’s why February 4, 2014 Sainsbury’s shares have climbed over two per cent this morning after Bernstein Research upgraded the supermarket's stock this morning to ‘outperform’. Shares took a tumble last week after chief executive Justin King announced he's leaving. The initial five per cent drop (shares later stabilised) was a nod to King's performance – he's widely hailed for [...]
Boris and Bob Crow talk for the first time in five years… but the Tube strike’s still on February 4, 2014 Bob Crow’s having a busy morning. The head of the RMT union is at City Hall with his counterpart at the TSSA to try and confront Boris Johnson and his transport staff about the looming Tube strike. The mayor, meanwhile, was in the middle of his regular phone-in show on LBC – so Crow phoned [...]