Fed’s Fisher says no-one has confidence in the government but there won’t be a default October 4, 2013 The Federal Reserve's Richard Fisher has said that uncertainty over the shutdown of the US federal government has put business in a defensive crouch, as no-one has confidence in the federal government, and that the US is a country in denial. Shutdown of several functions of the Federal government has now lasted for four days [...]
Companies to be liberated from “sensitive” names October 4, 2013 Business minister Jo Swinson has announced today that the number of 'sensitive' names business-startups need to get approval for before setting up, is to be slashed. Companies House, the UK registrar of companies, classes some words as "sensitive" and therefore cannot form or change the name of a company if it contains one of these [...]
Merkel begins SPD talks on grand coalition October 4, 2013 German Chancellor Angela Merkel is today in preliminary talks with the Social Democrats (SPD) in discussions on the possibility of forming a grand coalition. Talks could last for two months or more; whilst the SPD is seen as the most likely coalition partner for Merkel, agreements on taxation, a minimum wage and infrastructure investment need [...]
Spread better IG sets up Twitter grey market October 4, 2013 Following last night's news that Twitter aims to raise $1bn during its initial public offering (IPO) – the largest Silicon Valley IPO since Facebook – spread better IG has set up a grey market to allow clients to trade ahead of the official debut. With the current valuation seeing solid buyers, suggesting that the company's market cap [...]
New direction for car parts maker Schaeffler as CEO quits October 4, 2013 The troubled German car parts manufacturer Schaeffler has announced the resignation of its chief executive Juergen Geissinger. He will be replaced, with immediate effect, by finance chief Klaus Rodenfeld, who will step in as interim chief executive. The company is looking to reorientate its strategy; Geissinger's departure was, it said today in a statement, by [...]
Swiss regulator launches investigation into possible currency manipulation October 4, 2013 The Swiss financial regulator FINMA is investigating several financial firms over possible manipulation of foreign exchange rates. In a press release the agency said: FINMA is currently conducting investigations into several Swiss financial institutions in connection with possible manipulation of foreign exchange markets. FINMA is coordinating closely with authorities in other countries as multiple banks [...]
Demand pushes up price of Royal Mail Shares October 4, 2013 Demand for Royal Mail shares is high enough for sales at the upper end of the original range. The shares had been priced at between 260-330p, but demand means the government can sell them at between 300-330p, with early dealings possibly at 375-380p, giving the company has a potential value of up to £3.3bn. 62 [...]
Analysts bullish on gold in wake of US government shutdown October 4, 2013 A Bloomberg survey of 30 analysts showed 18 expected gold prices to rise next week, eight expected a fall and four were neutral. The shutdown of the US federal government and political battles over the debt-ceiling are expected to drive investors towards the precious metal. After a long decline, bullion gained 7.6 per cent in [...]
Eurozone producer price index flat in August October 4, 2013 The producer price index for the Eurozone was at a a flat 0.0 per cent in August, indicating no change in the average price level month-on-month, after expectations it would increase 0.1 per cent. July's figure was 0.2 per cent – the first increase since February. Core prices crept up just 0.1 per cent [...]
Serco slims portfolio with sale of occupational health business October 4, 2013 Serco Group has slimmed down its portfolio, having sold off its UK occupational health business for consideration of £3.5m. (Release) Serco had anticipated that the disposed business, which provides occupational health services to 450,000 public and private sector client employees, would deliver restricted growth, owing to it not being entirely in line with other similar [...]