US jobs growth slows in July, sending dollar lower August 5, 2015 Private sector employment in the US increased by 185,000 jobs in July, short of economists’ expectations, sending the dollar lower. The increase was the smallest rise since April. In June, the figure rose by 229,000, revised down from 237,000. The dollar took a battering on the data release, with the euro gaining nearly half a [...]
Quindell shares expected to resume trading tomorrow it reports £238m loss reported and restates previous year’s results amid FCA investigation August 5, 2015 Quindell shares are expected to resume trading tomorrow after more than a month of suspension from Aim, as it reported annual losses of £238m in the latest chapter in a tumultuous saga which has spurred a second investigation by a City regulator. An investigation by the Financial Reporting Council (FRC) has forced the company to restate [...]
Bank of England’s Ian McCafferty says interest rates could rise this year “data dependent” August 5, 2015 The Bank of England's Ian McCafferty reportedly said interest rates could rise before the end of this year depending on the strength of future economic data. "Financial markets still believe that an interest rate rise is unlikely until May or June next year, and economists suggest February or March," The Courier said he told the Dundee [...]
Standard Chartered share price rises as investors warm to Winters August 5, 2015 Shares in Asia-focused bank Standard Chartered were up more than four per cent at 992p in lunchtime trade as new chief exec Bill Winters won over investors. The figures This came despite first half results showing adjusted pre-tax profit slumped 44 per cent to $1.82bn (£1.17bn) in the six months to the end of June. The bank also cut its dividend [...]
Crowdcube raises £6m from Numis, Tim Draper’s Draper Esprit and Balderton, with plans to open access to IPO investments August 5, 2015 Crowdfunding investment platform Crowdcube has raised its own round of funding, which will allow it to offer a new way for investors to access companies which are about to go public. The £6m comes from stockbroker Numis, among others. The pair will work together to bring IPO investment opportunities to the platform. Renowned Silicon Valley [...]
Greek debt crisis: Greece upbeat on bailout deal but bank shares continue to plummet August 5, 2015 Greek finance minister Euclid Tsakalotos said yesterday that he was confident an agreement with the cash-strapped country’s lenders could be reached by 20 August, despite admitting disagreements on privatisations. Tsakalotos met yesterday with representatives of the International Monetary Fund, Eurozone and European Central Bank (ECB) to further discuss terms attached to any further lending. He [...]
Tesco and Sainsbury’s vs Asda and Morrisons: Britain’s biggest retailers row over Sunday trading laws August 5, 2015 British businesses are readying for a fight over government plans to shake up Sunday trading rules. The government will today open a formal consultation on proposals to give local areas the power to allow large shops to open for longer on Sundays. Current laws allow smaller shops to stay open all day, but limit larger [...]
Pfizer can buy Hospira for $17bn after European Commission approval August 4, 2015 The European Commission has approved the proposed acquisition of Hospira by Pfizer for $17bn (£10.9bn) under EU merger regulations. Phizer, the US drug maker, pledged it would protect the research of some drugs and guard against price rises to calm competition concerns in order to acquire its US rival Hospira. The deal will see Pfizer [...]
Markit UK construction PMI: Growth loses momentum in July August 4, 2015 The UK's construction sector unexpectedly lost momentum in July as growth in housebuilding and civil engineering slowed. The widely watched Markit/CIPS UK construction purchasing managers’ index (PMI) slowed to 57.1 in July, from 58.1 a month earlier, also missing economists' expectations for a reading of 58.4. Any number above the crucial 50 mark implies expansion. Growth [...]
RBS share sale: Detractors have forgotten what a terrible state the bank was in August 4, 2015 Just a few years afterwards, it seems people have forgotten how momentous the financial crisis was – and in what a terrible state RBS was. And while criticism of the chancellor for pushing ahead with the first sale of the government’s shares in RBS is politically appealing for some and taxpayers will not ‘get back [...]