Four Londoners arrested in connection with insider trading investigation July 31, 2013 The Financial Conduct Authority (FCA) and the Metropolitan Police this morning executed search warrants in West London. Four individuals including three men aged 29, 51, and 56 and one women aged 25 have been arrested and are currently in custody to be questioned in connection with an investigation in to insider dealing and market abuse. [...]
Economist says more QE likely only if economy suffers July 31, 2013 We shouldn't expect more quantitative easing unless things get much worse, says Howard Archer, who now believes it would take a "marked relapse over the coming months" for the bank to increase its money printing. After new Bank of England governor voted against further asset purchases at July's Monetary Policy Committee meeting, he is expected [...]
Loopholes appear in Greek VAT cut July 31, 2013 There appears to be a number of loopholes in the lauded value-added tax (VAT) cut in Greece, looking at a government circular out yesterday. The circular issued by the Greek Finance Ministry confirmed that VAT will be cut to 13 per cent from 23 per cent from tomorrow for a five month trial period in [...]
Italian unemployment falls slightly July 31, 2013 Italian unemployment fell slightly to 12.1 per cent in June from 12.2 per cent the month before. Analysts had expected an increase to 12.3 per cent. However, the proportion of young people in unemployment rose 0.8 percentage points to 39.1 per cent, and the number of inactive workers rose by 40,000. And employment fell by [...]
German unemployment remains unchanged but labour market is strengthening July 31, 2013 German unemployment remained flat at a seasonally adjusted 6.8 per cent in July. However, the number of people unemployed in Germany fell by 7,000 to 2.934m, less than the 13,000 decline the month before, but beating analyst expectations of a fall of just 4,000. This unexpected fall is good news for Germany, but Christian Schulz, [...]
Taylor Wimpey enjoys boost from government lending schemes but doesn’t see planning system improving July 31, 2013 Housebuilder Taylor Wimpey has reported a 42.1 per cent increase in first half pre-tax profit to £109m citing improved consumer sentiment and government mortgage schemes. Chief executive Pete Redfern said there was a “meaningful improvement in the housing market” in the first half of the year and that Taylor Wimpey is “ideally positioned to perform [...]
French firm makes reduced offer for British engineer Invensys July 31, 2013 French firm Schneider has made an offer for British engineer Invensys, an announcement that was speculated about yesterday. The formal offer will be paid in cash and shares if accepted. At 502p per share, that offer is lower than what the firm originally suggested, 505p. That's probably because no other bidder came forward, despite speculation [...]
Moneysupermarket enjoys revenue growth ahead of new ad campaign but says Funding for Lending hitting savers July 31, 2013 Price comparison website Moneysupermarket.com has reported a ten per cent increase in group revenue to £112.3m and a 29 per cent boost in adjusted EBITDA to £39.9m (release). Looking ahead, Moneysupermarket said its July revenue was flat against a strong July 2012 when the new advertising campaign launched. This year’s new campaign launches in August. [...]
British American Tobacco confident of another good year of earnings despite fragile market conditions July 31, 2013 British American Tobacco has said it is confident of another year of good earnings despite persistently fragile economic conditions in Europe as it reported adjusted group profit from operations increased by six per cent at constant rates of exchange (release). While volumes were down 3.4 per cent at 332bn cigarettes, price rises pushed up sales [...]
Prolonged cold weather and price hike boost British Gas owner’s half year profits July 31, 2013 Centrica, owner of British Gas, has reported a rise in half-year profits after an unusually cold Winter increased gas demand (release). The group’s adjusted operating profit rose by nine per cent to £1.58bn for the period ended 30 June 2013. Adjusted earnings were up two per cent to £767m or 14.8p adjusted earnings per share [...]