Berkshire Hathaway “A” shares have officially topped $250,000 February 15, 2017 These shares are so expensive, you need a mortgage just to buy one: last night "A" shares of Berkshire Hathaway, the vehicle founded by legendary investor Warren Buffett, rose above $250,000 dollars for the first time. The company's shares closed 0.8 per cent higher last night, at $250,419. That means shares have surged more than [...]
Real wage growth lowest since 2014 as inflation starts to bite February 15, 2017 Wage growth for British workers has slowed as inflation pushed down real earnings to their slowest increase since December 2014. Average weekly earnings grew by 2.6 per cent in the year to December before inflation is taken into account, according to the Office for National Statistics. However, when the increasing cost of living is added [...]
Big Oil is sleepwalking into crisis by underestimating the electric car revolution February 15, 2017 The “disruptive” label is overused. However, the unexpected pace of advancement in clean technology over the past decade has taken many established utility companies by surprise. And despite recent, largely reassuring results from the oil sector, Europe’s utilities provide a potentially prophetic glimpse into its future. In the German city of Hamm, the Westfalen D [...]
A tale of two Eurozones: Greater Germany and Club Med are drifting ever further apart February 15, 2017 At the end of last week Federica Mogherini met leading members of the Trump administration. Mogherini, yet another Italian politician turned Euro-bureaucrat, is in fact the foreign policy chief of the European Union. She stood on her dignity, or rather the dignity of the European Commission, issuing a warning to America not to interfere with [...]
It’s time for diversity at the Bank of England February 15, 2017 The financial crash knocked some of the stuffing out of the economics profession, though you wouldn’t know it given the confidence with which economists still parade their forecasts. A few – especially those with a monetarist or Austrian inclination – publicly expressed concern about policy in 2005-2007, but nobody from the mainstream predicted a financial meltdown. [...]
City watchdog seeks to improve capital markets for companies and investors February 14, 2017 The City watchdog today laid out a discussion paper seeking advice on how the UK primary capital markets could be improved for companies seeking funds and investors. The Financial Conduct Authority (FCA) is canvassing views on whether primary equity markets provide enough capital for company growth, particular in the early-stage science and technology sector. Read [...]
Protectionism is raising risks to companies’ global supply chains February 14, 2017 Protectionism and macroeconomic uncertainty have increased the risks to the world’s supply chains to the highest level in 24 years, according to an index tracking world trade. The index grew to a record high as Western Europe saw risks to the world economy’s globalised structure increase markedly, according to economists at Dun & Bradstreet. Companies [...]
Behind the deal: Biggest IPO of 2017 so far is another triumph for boutique investment bank Zeus February 14, 2017 Actuarial and consulting firm Xafinity today announced plans for the biggest UK float of 2017 so far. Weighing in at £190m, the first premium main market listing of the year marks another triumph for boutique investment bank Zeus Capital, which acted as financial adviser, bookrunner and sole broker. Skiing, mountain biking and initial public offerings Read [...]
Federal Reserve’s Janet Yellen sets course for rate rises if economy continues to perform well February 14, 2017 The US dollar jumped in value as Federal Reserve chair Janet Yellen told Congress a delay in raising interest rates could be “unwise” if the US economy continues to perform well, despite uncertainty around the outlook. However, Yellen said it was “too early” to know what policies US President Donald Trump’s administration would follow or [...]
Beleaguered Greek economy shrinks at end of 2016 as government hires Rothschild to advise on debt load February 14, 2017 The Greek economy shrank in the last three months of 2016, heaping more misery on the beleaguered country as it attempts to avoid a government default. Greece’s GDP fell by 0.4 per cent in the final quarter, according to the Hellenic Statistical Authority, a steep fall from growth of 0.9 per cent in the three [...]