Government confirms student loan sell-off November 25, 2013 The UK government has confirmed the sale of large part of its student loans portfolio to Erudio Student Loans. The sale relates to students who took out fixed term loans between 1990 and 1998. Such loans are the last of their kind still in public ownership. The move is step towards selling all of the [...]
Essar suffers $44m loss as refining margins fall to 2011 low November 25, 2013 Essar Energy has reported loss before tax of $44.4m (£27.4m) in the six months ended 30 September, compared to $52.7m (£32.5m) profit in the same period of 2012, reflecting the "tough global refining market environment" and "weak economic conditions in Europe and emerging markets". Group revenue was up five per cent like-for-like to $13.4bn and earnings [...]
Higher pig prices fail to dampen Cranswick profits November 25, 2013 Food producer Cranswick has reported a solid performance for the six months ended 30 September. Cranswick's profit before tax jumped 16 per cent, reaching £26.1m, while reported revenue rose by 15 per cent to £483.5m. Growth in sales and a newly commissioned pastry facility, as well as pig breeding and rearing activities, were cited as [...]
What you need to know before the open – 25/11 November 25, 2013 European markets are expected to rise this morning after gains in Asia and another record finish in the US. Sentiment has also received a boost from the deal with Iran regarding its nuclear programme. Brent crude prices started the week down 2.5 per cent. Morning all. There's a bit going on early doors. Could [...]
Rolls-Royce lands $215m contract for jet fighter LiftSystems November 25, 2013 Rolls-Royce has been awarded a $215m (£133m) contract to produce and support its LiftSystems technology for the F-35 Lightning II program. The technology gives F-35B aircraft the ability to perform short take-offs and vertical landings and is currently being used by the US Marine Corps in Yuma Arizona. Rolls-Royce LiftSystem Program director said: The innovative Rolls-Royce [...]
The Long View: Bob Dylan and the selfie: The world’s now a stage and we’re all performing | City A.M. November 25, 2013 MY SMARTPHONE has a feature I can’t ever imagine using – it promises to insert my live picture into any snapshot I take by turning on both front and rearfacing cameras at once. But I’m clearly behind the times. Even as I cling to my old-fashioned desire to take photographs of the things that I [...]
Greek recession shows no signs of ending says Capital Economics November 25, 2013 Forecasts of Greek economic growth remain too optimistic, according to Capital Economics. The London-based consultancy says that the modest improvement seen in the third quarter GDP figures has failed to significantly benefit Greece. Greece’s flash GDP estimate for the third quarter showed that GDP had gone from -3.7 per cent to -3.0, its highest rate [...]
A nominal GDP target could help the UK economy cope with the East’s rise November 23, 2013 THE UK economy is now accelerating strongly and, if the traditional correlations with business surveys continue to hold, growth could be 3 per cent or more next year. Furthermore, if unemployment continues to decline as fast as the claimant count has fallen in the past four months, the 7 per cent unemployment threshold set out [...]
City economist on shortlist for €100,000 prize for Brexit plan November 23, 2013 UNIVERSITY professors, a City economist and even a Conservative MEP are among the finalists for a bumper €100,000 (£85,600) prize that will be awarded to the author of the best blueprint of how the UK might leave the European Union. With the prospect of a so-called Brexit raised by the possibility of a referendum following [...]
Bank of America intern died of natural causes says coroner November 22, 2013 The coroner hearing the inquest into the death of Moritz Erhardt, the 21 year old summer intern at Bank of America Merrill Lynch, has said that he died of natural causes, as a result of an epileptic fit. Coroner Mary Hassell told Poplar Coroners Court today: One of the triggers for epilepsy is exhaustion and [...]