Regulator confirms ongoing investigation into foreign exchange trades October 16, 2013 The financial conduct authority (FCA) has confirmed recent speculation that it is conducting an investigation into foreign exchange markets. We can confirm that we are conducting investigations alongside a number of other agencies both in the UK and abroad into a number of firms relating to trading on the foreign exchange (forex) market. As part [...]
EADS Test & Services sale expected within weeks October 16, 2013 The European Aeronautic Defence and Space Company is within weeks of agreeing the sale of its Cassidian Test & Services Unit. Chief strategy and marketing officer, Marwan Lahoud, told a committee of the French Parliament: We have identified several investors and expect to take a decision in a few weeks. The subsidiary was put up [...]
US housebuilders see lowest confidence since June October 16, 2013 US homebuilders having a rough one this month. The NAHB housing market index dropped from 57 (revised from 58) to 55 in October. That's the lowest level since June. Analysts had been expecting an improvement to 58.
US default averted: Markets higher on news that political squabbles are over October 16, 2013 Republican leader John Boehner has agreed to take up the Senate's plan to avert a US default, according to Robert Costa of the National Review. That will allow it to pass with Democrat votes. Stocks are now roaring. The Dow Jones Industrial Average is up nearly 200 points, while the Nasdaq and S&P are up [...]
YouView signs up non-exec chair who was credited with saving NTL October 16, 2013 Streaming services company YouView has appointed Simon Duffy as a non-executive chairman. Duffy is no stranger to television services – he's widely credited for the rescue of debt-laden NTL (now Virgin Media) when he was executive vice chairman there. If you don't know it – YouView says that it's the UK's fastest growing TV platform, [...]
EE to launch superspeed 4G trial in London – Download a 2GB movie in 57 seconds October 16, 2013 Network operator EE has announced the launch of a range of new 4G plans, alongside the trial of a 300Mbps network in London. That superfast trial will start this November, with a wider rollout planned for 2014. To give an idea of just how fast 300Mbps is – A standard definition movie weighs in at [...]
Pepsi sees growth after Coca-Cola fizzles October 16, 2013 After Coca-Cola's mixed results yesterday, rival Pepsi has reported higher earnings for the third quarter, with organic revenue growth of 3.3 per cent. Whereas Coca-Cola saw a decline in net revenues, which lagged behind forecasts, Pepsi reported soft net revenue growth of two per cent year-to-date. Pepsi said it was on track to meet its [...]
Shutdown prevents official US inflation release – but other estimates suggest prices aren’t rising October 16, 2013 If the US government wasn't in shutdown, we would have just put up a post about the latest inflation data. Sadly, the Bureau of Labour Statistics (BLS) isn't publishing that data, and estimates of price changes in September will have to wait. But just because the BLS figures aren't on hand doesn't mean that we [...]
Danone changes targets on major impact of Fonterra formula milk recall October 16, 2013 Danone has changed its targets for 2013 following the major impact of the recall of infant formula products in Asia. Sales in the third quarter were up 4.2 per cent like-for-like, despite the recall and unfavourable exchange rates, the company said today – and they're confident in a full recovery, although not necessarily this year. [...]
JD Wetherspoon slams unsustainable taxes on pub sector October 16, 2013 JD Wetherspoon's 2013 annual report has shown pre-tax profits fall by three per cent to £57.1m in the 52 weeks ended 28 July as it warns that heavy taxation threatens the pub sector. There was some good news for shareholders with earnings per share, before exceptional items, increasing 12.6 per cent, along with revenue growth [...]