Union climbdown saves Grangemouth refinery October 25, 2013 Sources have told Sky that the Grangemouth refinery will be saved in a last-minute deal. The Unite union confirmed that it has accepted the survival plan proposed by Ineos in a dramatic U-turn. On Friday Unite offered a two-year no-strike deal in an attempt to prevent the closure of the Grangemouth refinery, MP Michael [...]
Accelerating GDP confirmed in third quarter with growth in all four sectors October 25, 2013 Encouraging results this morning as the preliminary estimate for third quarter GDP saw a rise of 0.8 per cent, the strongest pace of growth in over three years, and in line with expectations, following the second quarter's 0.7 per cent increase. The economy is, though, still 2.5 per cent smaller than pre-crisis peak. All four [...]
German business conditions less rosy in October as they miss expectations October 25, 2013 German IFO numbers have painted a slightly depressed picture for business conditions with IFO business climate for October at 107.4 – the first monthly fall since April, and missing expectations of 108.0 and down marginally on September's 107.7. Current assessment came in at 111.3 – down from 111.4 and versus expectations of an increase to 111.6. [...]
Carlsberg overhauls charter and proposes hike in dividend October 25, 2013 The Carlsberg Foundation is set to remove an obligation in its charter, that it must own at least 51 per cent of the voting rights and more then 25 per cent of the share capital in Carlsberg Group. In a press release on Friday the Carlsberg Foundation confirmed it had submitted an application to amend [...]
Samsung sales soar on chips and Galaxy S October 25, 2013 Samsung Electronics has announced that its net profit climbed 25.6 per cent in the third quarter to 8.24 trillion won (£4.7bn), boosted by a surge in shipments of its Galaxy S smartphone and higher prices for memory chips. A record operating profit of 10.2 trillion won (£5.92bn) was up 26.08 per cent from the same [...]
Life and pensions group Phoenix on track to hit targets after solid business October 25, 2013 Britain's largest pension fund consolidator Phoenix Group said today that it has seen a year-to-date cash generation of £734m, putting it on track to deliver a top-end end-of-year target of £650-£750m in the nine months to 30 September. Shares jumped on the news. The insurer continues to discuss merger plans of Phoenix and Swiss Re's [...]
What you need to know before the open – 25/10 October 25, 2013 With UK GDP German IFO out later today, European markets are set to open mixed. US markets closed higher yesterday, boosted in after-hours trading by positive reactions to Amazon and Microsoft results. Daily % change of FX majors vs. USD: JPY +0.28, CHF +0.20, GBP +0.17, EUR 0.12, AUD -0.14, NZD -0.44 — DailyFXTeamMember (@DailyFXTeam) [...]
The global economy sinks under its debts as the real cost of energy rises | City A.M. October 25, 2013 ALTHOUGH the economy is improving, this is turning out to be “a recovery, but not as we know it”. Britain may be getting better off, but people keep getting poorer, as the costs of essentials continue to grow much more rapidly than incomes. Yet far from being a uniquely British problem, this is a worldwide [...]
Move into the heart of city living October 24, 2013 Make a smart international investment or simply live among some of the world’s most famous landmarks There are certain things non-Londoners take for granted that seem like every-day miracles to those living in the capital. Walking to work is one of them – the morning commute is inescapable in the Big Smoke. You can also [...]
Have a right royal time in Fergie’s former apartment October 24, 2013 Sarah Ferguson’s old flat in Battersea, where she reputedly entertained Princess Di, goes on sale for £1m CAST yourself back to London in 1985 at the height of Thatcher’s reign, ill-judged perms and Dead or Alive’s music career. Partying away in a two bedroom flat around the corner from Clapham Junction and the Battersea Arts [...]