Number of businesses rises by 18,000 says ONS October 3, 2013 The ONS has released its figures for UK business activity, size and location for the year March 2012 to March 2013. The number of VAT and PAYE businesses is estimated to have risen by 18,000 or 0.9 per cent. This represents a slower growth as compared to the 1.8 per cent rise or 37,000 seen [...]
UK service sector growth slows slightly but still strong at 60.3 October 3, 2013 The UK services sector is still expanding in September, with a strong PMI reading of 60.3. Although in line with expectations this is a bit of a slowdown from August's reading of 60.5. The sector's strong performance marked the end of the best quarter since Q2 1997, with analysts estimating UK economic growth for the [...]
Mixed results for William Hill – Sportsbook strong but weak retail October 3, 2013 William Hill has announced growth in key areas, led largely by Sportsbook going from strength to strength, but retail results look weak. (Release) The betting firm has reported 42 per cent growth in Sportsbook wagers in the 13 weeks ending 1 October, with football Sportsbook wagering up 49 per cent and mobile wagering on Sportsbook [...]
Eurozone order books point to stronger growth October 3, 2013 Fresh survey data suggests that the pace of Eurozone expansion is higher than expected. Markit's purchasing managers' index (PMI) rose from 51.5 to 52.2, above analyst expectations of an increase to 52.1. Any number above 50 implies expansion. Markit's chief economist, Chris Williamson, says that the number "confirms the message from the earlier flash reading [...]
Lottery ticket price doubles in first hike since 1994 October 3, 2013 The price of a ticket to play the National Lottery has been increased from £1 to £2, in order to fund bigger prizes and increasing philanthropic activity. The cost of a ticket has been falling in real terms since its launch – if hikes had matched inflation a ticket would now cost a £1.67. At [...]
Easyjet raises annual profit forecast after good summer October 3, 2013 Easyjet has upped its profit forecast after strong figures for the summer. (Release) Revenue per seat for the three months to 30 September is expected to grow by about six per cent, said the budget airline. Pretax profit for the year to 30 September is expected to be between £470m and £480m – previous estimates [...]
BP victory as court caps compensation to oil spill victims October 3, 2013 The 5th US Circuit Court of Appeals court has sided with BP, in agreeing that the compensation to be paid to victims of the Gulf of Mexico oil spill needs will be capped. The court concluded on wednesday night that the agreement reached last year would need to be altered, with stricter conditions on those [...]
New non-nonsense FCA regulation for payday lenders October 3, 2013 The Financial Conduct Authority (FCA) has today set out its vision for regulating consumer credit with stricter demands. A more stringent system with the FCA, which is due to take over from the Office of Fair Trading (OFT) on 1 April 2014 and will be taking on over 50,000 already licensed firms, will "create [...]
House price growth slows in September October 3, 2013 House prices grew by 0.3 per cent in September, down from 0.4 per cent growth in the month before. That's according to new Halifax House Prices data, which analysts had expected to show 0.4 per cent growth this month. Prices are currently down 14.5 per cent from their peak level seen in August 2010, with [...]
What you need to know before the open – 03/10 October 3, 2013 European markets are set to open mixed, with the FTSE slightly up. Things have calmed somewhat in Italy after Berlusconi climbed down, agreeing to support Enrico Letta. The dollar remains down as eyes are still on the US, with concessions failing to be forthcoming in budget talks and markets bracing for ongoing shutdown. ETX Capital [...]