Investment in renewable energy declines sharply October 14, 2013 Global investment in clean energy was £28.7bn in the third quarter of 2013, a 14 per cent fall on the second quarter of this year, according to Bloomberg New Energy Finance (BNEW). Investment in the sector is now 20 per cent below the number for the third quarter of 2012. The weak investment figures will [...]
Eurozone industrial production up one per cent in August October 14, 2013 (Eurostat) Output in the Eurozone industrial sector rose in August after industrial production came in up one per cent, following expections of a 0.8 per cent rise, and after falling 1.5 per cent in July. Year-on-year, production was down 2.1 per cent, after expectations of -2.4 per cent and following a fall of 1.9 per [...]
Wockhardt shares drop as drug company is slapped with new export ban from UK regulator October 14, 2013 Wockhardt shares slid five per cent today after the UK's medicines regulator withdrew its approval for one of the company's key facilities. The Indian drug-maker's Chikalthana plant, which makes a generic version of the high blood pressure drug Toprol, may be in violation of the Medicines and Healthcare Products Regulatory Agency, who have revoked its [...]
Politicisation of energy market spells trouble for SSE says JP Morgan October 14, 2013 JP Morgan has warned that the politicisation of the UK energy market could lead credit ratings agencies to downgrade energy firm SSE. The recent announcement that the company would raise prices by 8.2 per cent, adding £104 to the average annual bill, led to a series of condemnations by senior Labour politicians. SSE asserted that [...]
Equities are getting smashed as US shutdown drags on into 13th day October 14, 2013 After a confidence rally on Friday, we're seeing European stocks drift down along with US futures. Rumours of a deal over the US debt ceiling have been vaporised over the weekend as fiscal deadlines approach. The US faces a default on 17th October if no progress can be made. Much of the US is closed [...]
New acting finance chief for Michael Page as recruiter anticipates challenging fourth quarter October 14, 2013 British-based recruitment company Michael Page has announced the appointment of a new acting chief financial officer, as it reports year-on-year profit up 0.4 per cent. However, the company expects a challenging fourth quarter. Chief executive officer Steve Ingham says the firm has seen "another robust performance in the third quarter, against a backdrop of challenging, [...]
Chinese exports down as September sees strong demand and inflation October 14, 2013 (National Bureau of Statistics of China) With Chinese trade data coming in overnight, optimistic economic expectations continue to be reflected in results, with September imports rising to 7.4 per cent, exceeding expectations of 7.0 per cent. Despite healthy demand, however, export growth dropped sharply by 0.3 per cent from August's 7.2 per cent. Inflation for September rose, with the [...]
What you need to know before the open – 14/10 October 14, 2013 With any hope of a weekend agreement on the US debt ceiling now dashed, last week's market optimism has been watered down. Budget talks are moving to the Senate, but there is still disagreement between the parties. #European markets look set to fall this morning, but not by much, with just three days to go [...]
France will stay the lame duck of Europe if voices for reform remain mute October 14, 2013 VISITORS to France are often impressed by its network of fast trains, and its miles of half-empty motorways. They are right to be. The French had their HS2 debate decades ago, and the railway buffs won. As a result, the World Economic Forum ranks France fourth for infrastructure in its global competitiveness survey. (Airports are [...]
Miliband’s policies have already damaged Britain’s economy October 14, 2013 EVERY so often, financial markets spectacularly misjudge an issue. One such blunder took place immediately after Ed Miliband announced his policy to freeze gas and electricity prices for the first 18 months of a Labour government. Instead of heading for the exits, investors sat on their hands. Shares barely fell that first afternoon, despite extensive [...]