Carney’s message for businesses and the regions August 29, 2013 Bank of England governor Mark Carney has told businesses not to “worry that the rug is going to be pulled out from under you too soon” in attempt to boost confidence in light of a future rise in interest rates, and stressed the importance of monetary policymakers getting out of London and talking directly to [...]
Before the Open – 29/08 August 29, 2013 Asian shares had a mixed performance last night as offshore markets rebounded from Syria concerns while mainland markets remained suppressed. The Hang Seng recovered slightly from multi-month lows, rising around 0.4 per cent to 21,606. However, the Shanghai Composite remained in the red, despite a good start on the back of a strong finish in [...]
Admiral Group reports boost in profits August 29, 2013 Motor insurance company and owner of price comparison website Confused.com Admiral Group has reported a 5.6 per cent increase in pre-tax profits and six per cent growth in earnings per share for the first half of the year (release). Pre-tax profits rose to £181.4m from £171.8m in the same period the year before. Basic earnings [...]
Confidence in Abenomics hit as Japanese retail trade drops sharply August 29, 2013 Source: Capital Economics Japanese retail trade contracted by more than expected in July, according to official figures from the Ministry of Economy, Trade and Industry. Compared with July 2012, retail trade fell by 0.3 per cent, following 1.6 per cent annual growth the month before. Analysts had expected to see no movement at all. [...]
US pending home sales suffer biggest monthly fall this year August 28, 2013 US pending home sales fell by more than expected in July, according to data from the National Association of Realtors (NAR). The pending home sales index fell by 1.3 per cent from the month before to 109.5 – the biggest fall this year. This follows a 0.4 per cent drop in the month to June. [...]
UK National Security Council unanimous on Syria ahead of Cameron’s UN meeting August 28, 2013 The UK National Security Council has unanimously agreed that the use of chemical weapons by Syrian president Bashar al-Asasad was “unacceptable”, UK prime minister David Cameron has said. Members of the UK NSC include defence secretary Philip Hammond, home secretary Theresa May, deputy prime minister Nick Clegg, and other military and intelligence heads. The meeting, [...]
HCA responds to competition watchdog’s calls to sell off hospitals August 28, 2013 Private healthcare provider HCA International has responded to this morning’s report from the Competition Commission concluding that the UK's private healthcare sector is suffering from too little competition, saying it is “disappointed that the quality of clinical care and investment in innovation seems to have been ignored”. The Commission identified 101 hospitals facing little local [...]
Carney’s liquidity rule loosening could boost bank earnings by up to 10 per cent August 28, 2013 The loosening of liquidity requirements announced by Mark Carney and the Prudential Regulatory Authority (PRA) could be a significant boon to bank earnings, according to market watchers. Bank of England governor Carney said: For major banks and building societies meeting the minimum 7% capital threshold, the Bank of England will reduce the level of required [...]
Cyprus preparing for all eventualities on Syria August 28, 2013 Cyprus’ foreign minister Ioannis Kasoulides has said the country is preparing for “all eventualities” with regards to the tensions brewing in Syria. On Tuesday, he denied speculation that British airbases on the island – in particular, RAF Akroti on the southern tip – could play a major role in any military strike against Syria. [...]
Mark Carney drops local knowledge with Jake Bugg reference August 28, 2013 Bank of England governor Mark Carney tried to impress with some regional knowledge in his Nottingham speech, dropping the name of local-born singer-songwriter Jake Bugg: Productivity growth has been anaemic and – remarkably – the UK is no more productive than it was back in 2005 – before Jake Bugg got his first guitar. We [...]