US tech stocks are an enticing proposition November 12, 2013 IN AN eye-catching achievement for a company that has never made a profit, Twitter’s share stampede last week sent the value of the social networking platform to $24bn (£15.12bn) on its stock market debut, although its shares have since dropped back to around $42. Many investors, however, are still understandably cautious about investing in high-profile [...]
Vodafone’s build plan promises 77,000 new 4G sites by 2016 November 12, 2013 Vodafone has said today that by March 2016 it'll provide access to 89,000 4G sites, adding 77,000 to its current 12,000. The big network growth push comes as part of the telecom company's Project Spring, a £7bn investment funded by the proceeds of its $130bn (£81.7bn) Verizon Wireless sale. Vodafone announced this morning in its [...]
Italian GDP set for ninth consecutive contraction says chief treasury economist November 12, 2013 Italian GDP is set to contract by 0.1 or 0.2 per cent in the third quarter, according to chief economist at the Italian ministry of economy and finance, Lorenzo Codogno. A third quarter contraction would mean the Italian economy has shrunk for nine consecutive quarters. Speaking to Reuters, Mr Codogno said he expected growth to [...]
John Lewis confirms new store for Westfield London November 12, 2013 John Lewis confirmed its plans to open a new store in Shepherd Bush's Westfield shopping mall this afternoon. The four-storey store will be the partnership's fifth in London, will cover 230,000 sq ft and is expected to create 600 new jobs when it opens in 2017. The shop will stock over 350,000 lines and include an [...]
Apple launches Retina-display iPad mini, supply worries begin November 12, 2013 Apple's Retina-display iPad mini is now on sale, after a surprise launch this morning. Although the news is encouraging – many thought that the delay on the launch, which was expected to be at the end of November, would be longer – there are now worries over supply. Apple said in a statement today that [...]
A new team for “deepening reform” says China’s CPC as it recognises market’s “decisive” role November 12, 2013 China's CPC has approved a decision to set up a central flagship team for "comprehensively deepening reform", following a four-day meeting which ended on Tuesday. The team will be in charge of designing, coordinating, arranging and pushing forward reform as well as supervising the implementation of the reform plans, according to a statement issued [...]
Wonga appoints co-founder Errol Damelin as chairman November 12, 2013 Payday loan company Wonga has appointed its co-founder and chief executive officer (CEO), Errol Damelin as chairman of the company. Damelin has been the CEO of the company since its founding in 2006. He will be replaced by chief operating officer, Niall Wass. Jonty Hurwitz, who co-founded Wonga, announced he will retire from the company's [...]
RBS reprivatisation could be sped up by “bad bank” November 12, 2013 RBS's "bad bank" may speed up the reprivatisation of the state-owned lender, according to James Leigh-Pemberton. Leigh-Pemberton was answering questions from MPs at a Treasury Select Committee meeting this morning, in his role as executive chairman designate of UK financial Investments (UKFI) – the UK body that manages taxpayers' stakes in RBS and Lloyds Banking [...]
Walkie Scorchie redesign almost there says developer Land Securities November 12, 2013 The developer of the Walkie Talkie skyscraper in the City of London, Land Securities, said this morning that a solution to the "seasonal solar glare" issue – the 70C beam of sunlight that melted cars, burnt shops and saw an egg fried in its heat – is in its final stages. Land Securities says that [...]
Growth set to gain momentum in developed economies says OECD November 12, 2013 Growth in developed countries increased in September with the recovery in the Eurozone "gaining momentum," according the Organisation for Economic Co-operation and Development. The Composite Leading Indicator (CLI), intended to detect turning points in economic activity, show growth is above trend in Japan and is strengthening in the UK. Growth in the US is around [...]