Undercover landlords: One in six renters sublet their home but a third keep it under wraps February 24, 2016 Rents as well as house prices may be rising but tenants are not missing a trick, with more than one in six admitting to having sublet their home, new research today shows. Insurance provider Direct Line for Business said 17 per cent of tenants surveyed said they have rented out part or all of their property to someone [...]
What is helicopter money and could it save the global economy from another recession? February 24, 2016 Inflation is below target in most of the world's major developed economies. With interest rates at record lows and economists still split on the effects of quantitative easing, helicopter money has been touted as a possible weapon in central banks' arsenals. The idea The 18th century philosopher David Hume asked what would happen if some good fairy went around [...]
Third time lucky: London Stock Exchange and Deutsche Boerse in third hook-up attempt February 23, 2016 The London Stock Exchange Group (LSE) and Deutsche Boerse are making their third attempt at a merger in two decades, in a bid to create a dominant European exchange operator worth more than £20bn. LSE confirmed that it was in merger talks with Deutsche Boerse yesterday afternoon, after reports of a possible deal sent the London [...]
London Stock Exchange and Deutsche Boerse deal: Robey Warshaw, Linklaters and Perella Weinberg among the big players working on the merger February 23, 2016 As the London Stock Exchange (LSE) and Deutsche Boerse hammer out the details of their potential merger, City A.M. takes a look at the bankers and other advisers trying to make the deal happen. Boutique banks are booming, and none more so than London-based Robey Warshaw. Co-founder Simon Robey may be a huge Arsenal fan, but was [...]
Etsy’s share price surges after reporting strong revenue growth despite an earnings loss February 23, 2016 Quirky online marketplace Etsy reported revenue just over expectations, as it announced the number of its active buyers and sellers has surged. Etsy's share price jumped over 17 per cent in after-hours trading on the news, but had closed seven per cent lower ahead of the results. Revenue for the fourth quarter was reported at $87.9m (£62.7m), [...]
One dead and five construction workers in hospital while three remaing missing following incident at Didcot Power Station during demolition in Oxfordshire February 23, 2016 Emergency services are currently attending an incident at Didcot Power Station in Oxfordshire, which has left one dead while five construction workers are in hospital, and three are missing. Oxfordshire Fire & Rescue Service area manager Mat Carlile, who is on the scene, said: “I can confirm search operations are in progress and that there has been one fatality, [...]
Hugo Boss share price plummets following ugly results as the US and China look set to drag on future profits February 23, 2016 Hugo Boss shares have tumbled by almost 20 per cent, their biggest fall since October 2008, after it warned that sales in China and the US so far this year have been weaker than it expected. The German-based fashion label said in a statement earnings before interest, taxes, depreciation and amortisation and excluding special items will decline by a “low double-digit” percentage [...]
At the close: FTSE 100 index closes lower as Saudi and Iranian oil ministers’ statements helps price of oil to fall despite London Stock Exchange surging February 23, 2016 The FTSE 100 index closed lower today as the price of oil fell after comments from the Saudi and Iranian oil ministers put the production freeze into doubt. The UK's blue-chip index fell 1.25 per cent to 5,962 points, led lower by Standard Chartered and BHP Billiton, despite the surging share price of the London Stock Exchange. "European [...]
Top European regulator Daniele Nouy warns low interest rates could push banks into riskier investments February 23, 2016 Subdued profitability caused by low interest rates could push banks toward riskier activities, a top European regulator has warned. “Low profitability is obviously a major concern for the stockholders of banks. And it is also a concern for supervisors. Over the long term, low profitability threatens the ability of banks to generate capital and access [...]
Mars recalls chocolate bars in UK and 54 countries, including Snickers, Celebrations, Mars bars and Milky Way February 23, 2016 Chocolate maker Mars has been forced to recall chocolate bars including best-selling Mars and Snickers from more than 50 countries, including the UK after they were found to potentially contain bits of plastic. The US company said the popular sweets are being recalled in 55 countries across Europe, including the UK, Germany, France and the Netherlands in Europe as well [...]