It’s time for financial bears to hibernate January 13, 2014 Investors are about to face a news drought, following on from Friday's US payroll data. Kit Juckes of Societe Generale says that should be enough to send financial bears, particularly of the emerging markets variety, into hibernation. We're going to need to wait "until the snow melts and the true data pictures emerges", he says. [...]
Homeserve faces £34.5m fine from regulator January 13, 2014 Emergency insurance firm Homeserve has said this morning that it's facing a £34.5m fine from the Financial Conduct Authority for "historic" failings when it came to its handling of complaints and its marketing. The proposed fine is higher than the company anticipated. From the statement: This [the fine] is higher than the company's provision and [...]
Sports Direct buys up stake in Debenhams January 13, 2014 An unusual decision from Sports Direct this morning, but markets seem to like it. The retailer announced this morning that it's bought a 4.6 per cent stake in Debenhams. Shares in the latter have climbed over five per cent on the news: In a statement this morning, Sports Direct said that the move is to [...]
Royal Mail kicks off 2014 with management shakeup January 13, 2014 The recently-privatised Royal Mail has announced a series of changes to its senior management team. As Royal Mail begins its time in the private sector, Mark Higson, managing director, operations and modernisation, following the company's AGM, decided to resign from the board in July 2014. The company said he had "played a key role in [...]
What you need to know before the open – 13/01 January 13, 2014 US jobs data on Friday was something of a surprise in terms of how poor the payrolls report was, but markets seem pretty unperturbed by the news, with European bourses expected positive this morning. European equities to play catch up on Street of Dreams close at this morning's opening – FTSE +13, DAX +17, [...]
Greene King brews up record-breaking Christmas January 13, 2014 Pub retailer Greene King has posted a rise in like-for-like sales of five per cent for the last six weeks. The company achieved a six per cent rise in like-for-like sales over the years two most important trading weeks. Christmas Day proved to be the most successful in the company's history, with 62,000 meals sold, [...]
French official – Our debt puts us in danger zone January 13, 2014 THE FRENCH government’s huge debt pile has plunged the euro area’s second largest economy into a danger zone, the head of its public audit office said yesterday. France’s national debt has reached the equivalent of 93.4 per cent of the country’s GDP, it has estimated – up from 90.2 per cent at the end of 2012. By [...]
Fall in homes for sale boosts prices further January 13, 2014 LONDON’S house prices jumped again in October, according to data out today from Hometrack, as supply of homes dropped but demand kept on rising. Nationally prices increased by 0.5 per cent in the month, with London leading the way at 0.8 per cent. That means that over the last 12 months London’s prices have risen [...]
Apple’s mobile sales in Europe grow in strength January 12, 2014 APPLE’S smartphone sales continue to increase month-on-month, making up 18.1 per cent of the smartphones sold in Europe’s five biggest markets during the three months to November, data from Kantar Worldpanel showed today. In October Apple’s share was 15.8 per cent. November’s strong sales are linked to high levels of customer satisfaction of its iPhone [...]
London skyline gets a £1.2bn Chinese fortune January 11, 2014 CHINESE state-owned Greenland Group has made its first foray into the UK market with a £1.2bn swoop on two major London developments – which could see it build the tallest skyscraper in Canary Wharf. The property giant yesterday signed a deal to buy developer Minerva’s Ram Brewery, a historic seven acre site in Wandsworth claimed [...]