How Richard Branson nearly had another big fire on his hands January 13, 2014 Richard Branson has narrowly escaped having another lightning related fire at one of his properties. The entrepreneur tweeted a picture of a powerful fork of lightning just missing his game reserve in Ulusaba, South Africa. (Wolfgang Schmid) “After what happened with the Great Fire on Necker, we should possibly have learnt not [...]
Why one bank’s watching Glencore Xstrata this year January 13, 2014 2013 was a tough year for miners, with metal prices falling and several companies suspending projects and cutting costs. What's more, the instrumental Chinese economy saw a slowdown over the year. But despite a persistently bad performance in global equities for the sector, Saxo Bank has upped its view to 'positive' on miner Glencore Xstrata. [...]
Chinese holidaymakers lead the charge over Christmas January 13, 2014 Wealthy foreign visitors helped keep Britain’s tills ringing over Christmas with spending up a record 40 per cent on the previous year. Chinese tourists led the charge, with spending up 52 per cent to around £741 per transaction in December, according to figures out today by tax-free shopping specialist Global Blue. While China accounted for [...]
Who will build the roads (after these capacity constraints)? January 13, 2014 Since the New Year, a number of surveys have been pretty explicit about new constraints on the supply of materials and labour in specific industries. Last week, the British Chambers of Commerce said that 81 per cent of manufacturers are reporting difficulties in recruitment, the highest on record. In Services, it’s 60 per cent, perhaps more [...]
Number of fake euro notes on the up January 13, 2014 Demand for fake euro notes rose in the second half of 2013. The number if counterfeits taken out of circulation went up 11.4 per cent from the first half of the year. The European Central Bank (ECB) said that it withdrew 353,000 notes in the period – although it stresses that this is a very [...]
Here’s what JP Morgan thinks will drag corporate profits out of the doldrums January 13, 2014 Despite a reprieve in the Eurozone crisis over the course of 2013, corporate profits remain at pre-recession lows. JP Morgan has cast doubt on whether forecasts for earnings per share (EPS) will be as high as anticipated for 2014. The International Broker's Estimate System (IBES) forecasts EPS growth in Europe of as much as 16 [...]
Total spearheads investment in UK shale January 13, 2014 Total has become the first major oil and gas company to enter Britain's shale gas market, investing at least $21m (£12.7m). The French-based firm has secured a 40 per cent interest in two shale exploration licenses in Lincolnshire, paying up to $48m (£29m). It'll be partnering with Dart Energy, Egdon Resources, IGas and eCORP oil & gas [...]
Here’s why this analyst thinks Royal Mail shares could go higher still January 13, 2014 Royal Mail's announcement of a management team reshuffle has already been met with glee by one analyst. Robin Speakman of Shore Capital says that the changes "reflect transformation progress", and Speakman is convinced that the delivery company still has "strong potential … for profitable growth and development". Shore Capital are maintaing a "buy" rating on [...]
Morrisons shares buoyed by £800m property sell-off January 13, 2014 Morrisons topped the FTSE 100 this morning after a weekend report from the Sunday Times that the UK supermarket is planning a £800m property sell-off to raise money and placate vexed investors. The move follows the store's lamentable Christmas sales, revealed last week. It delivered a 5.6 per cent drop in sales, along with a [...]
Bitcoin lands world’s largest social investment network January 13, 2014 Bitcoin continues to move from strength to strength, as the world's largest social investment network, eToro, announced that its members will now be able to invest in the virtual currency. eToro's 3m traders can now make Bitcoin investments via contracts for difference (CFDs). The company will encourage members to consider the cryptocurrency a long term [...]