Bordeaux Index reveals cork-popping champagne sales as economy recovers November 29, 2013 In the first ten months of 2013 wine merchant Bordeaux Index sold over £11m worth of champagne, close to double the amount the sold over same period last year. Champagne made up close to 17 per cent of of the company's total sales in 2013 compared to eight per cent for the same period last [...]
How sustainable is Japan’s surge in consumption? November 29, 2013 In Tokyo, the prices of home durable goods rose in November for the first time in two decades, and at their fastest pace in 30 years. The data provide further bolstering to Abenomics – prime minister Shinzo Abe's answer to breathing life into an economy that's trying to overcome 15 years of deflation. Prices of [...]
UK banking regulator sets out capital standards November 29, 2013 The Prudential Regulation Authority (PRA) announced on Friday that major banks and building societies will be required to have a core capital buffer equivalent to seven per cent of their risk weighted assets from January 2014, as well as comply with a leverage ratio of three per cent. The PRA said in a statement: The [...]
Pearson sells Mergermarket group to BC partners November 29, 2013 Publishing company Pearson has agreed to sell the Mergermarket group to funds advised by BC Partners for £382m, with the transaction expected to be completed by the end of the first quarter of 2014. Mergermarket provides global corporate financial news, intelligence and analysis to firms in 65 different countries. Pearson's chief executive, John Fallon, said: [...]
12 times as many bankers earning €1m in Britain than any other European country November 29, 2013 The European Banking Authority has produced figures that show Britain has 12 times as many bankers earning over €1m (£856,000) than any other country in Europe. More than 3,500 bankers in Europe earned €1m or more last year, up 11 per cent from 2011. Britain accounted for 2,714 of the figure with the next highest, [...]
Eurozone unemployment falls but jobs market is still weak November 29, 2013 The euro area unemployment rate fell to 12.1 per cent in October, down from September's 12.2 per cent. In the EU28, the unemployment rate was at 10.9 per cent. From a year earlier, both rates have risen. In October 2012, euro area unemployment was 11.7 per cent and 10.7 per cent in the EU28. Among [...]
Italian inflation declines in November November 29, 2013 Inflation data from Italy will do little to alleviate Eurozone deflation concerns. The Italian consumer price index fell 0.4 per cent in November, according to a flash estimate from Istat. Analysts has expected inflation of 0.2 per cent, from October's 0.1 per cent increase. Year-on-year, Italian inflation was 0.6 per cent in November, after expectations [...]
Eurozone inflation rises from October low November 29, 2013 The Eurozone continues to see weak inflation, as the consumer price index rose 0.9 per cent in a Eurostat flash estimate for November. This beat expectations of a 0.8 per cent increase and October's low of 0.7 per cent. The rise is, however, well below the European Central Bank's target for inflation of just [...]
Italian unemployment still 12.5pc as youth unemployment hits record high November 29, 2013 Italian unemployment has steadied at 12.5 per cent in October, in line with expectations. Istat, the country's statistics office, estimates that 22.4m people were employed in October 2013, with the employment rate at 55.5 per cent. The inactivity rate was 36.4 per cent. In the third quarter, the number of people employed was down 2.3 [...]
Goldman says UK revival is one of 2013’s big surprise stories – and here’s why November 29, 2013 Investment bank Goldman Sachs says that the turnaround in the UK's economic performance is one of 2013's "most notable economic surprise stories". While most held a grim outlook for the UK economy – data has improved throughout the year. As the end of 2013 approaches GDP growth has averaged around 0.7 per cent per quarter, [...]