Greece deal triggers European markets rise to six week high but sterling strengthens against euro July 16, 2015 The FTSE 100 closed 0.63 per cent up at 6,796.45 points on the first day of trading following Greece's securing of a much-needed bailout loan. Read more: Europe offers bailout to Greece as ECB raises bank support European shares climbed to a six-week high, with the pan-European FTSEurofirst 300 index up 1.36 per cent to 1,608.12. [...]
Four key takes from the ECB’s July presser July 16, 2015 1. ECB has hiked ELA to Greece: Draghi confirmed that the European Central Bank will increase the amount of liquidity assistance available to Greek banks by €900m in one week. He said that approval of bridge financing, plus the Greek parliament's move to vote in favour of austerity rules outlined by its lenders drove the decision. [...]
Ebay revenue up seven per cent as PayPal spinoff draws near July 16, 2015 The figures Revenues at e-commerce giant Ebay jumped seven per cent to $4.38bn (£2.8bn) in the three months to the end of June , according to a report released today. The company’s net income fell to $83m, or seven cents per share in the second quarter, from $676m in 2014. Ebay has announced an additional $1bn [...]
Eurogroup of finance ministers confirms it will grant a three-year bailout loan to Greece as European Central Bank hikes bank liquidity assistance July 16, 2015 The Eurogroup of finance ministers today confirmed it will grant Greece a three-year bailout loan – just as European Central Bank (ECB) chief Mario Draghi confirmed it will increase the amount of liquidty assistance available to banks by €900m in one week. At a press conference today, Draghi said the approval of bridge financing, plus [...]
Europe still has a problem with low inflation July 16, 2015 While consumers may be happy to see prices rising more slowly, central bankers and politicians around Europe are a little more nervous about how they are are behaving across the European Union and Eurozone. The European Union experienced annual inflation of just 0.1 per cent in June and the Eurozone only did marginally better with [...]
Angry Birds 2: After six years and 2bn downloads, Rovio finally announces Angry Birds will get a sequel July 16, 2015 Get ready for the addiction to strike anew: Angry Birds 2 is coming at last. Six years after the smartphone game that drove us into a bird-throwing frenzy, Finnish game developer Rovio Entertainment has finally announced it will be getting a sequel. The original Angry Birds stormed to the top of the charts when it [...]
Entrepreneurs beware: The Entrepreneurs Networks parliamentary snapshot reveals just how little MPs know about EIS, SEIS and other startup policies July 16, 2015 How much do MPs know about the real business world? A new survey suggests it might be even less than you think (and we're assuming you had pretty low expectations already). The Entrepreneurs Network's annual parliamentary snapshot has exposed a “worrying lack of knowledge” about existing policies that are designed to support entrepreneurs. [...]
Mortgage lending up by 29 per cent in June as political uncertainty ends July 16, 2015 The amount of money lent to UK home buyers in June showed a significant rise compared to May as political uncertainties waned, according to new figures Read more: UK house price growth slows to lowest rate in over a year Gross mortgage lending rose 29 per cent compared with May, climbing to an estimated £20.5bn, according [...]
German finance minister Wolfgang Shaeuble on Grexit: Perhaps temporary exit from the Eurozone would be better for Greece July 16, 2015 Never one to mince his words, German finance minister Wolfgang Schaeuble has suggested that, despite the Greek parliament's overwhelming support for its creditors' reform proposals, a "temporary Grexit" might be a better option. Read more: IMF slams Greece deal This morning Schaeuble told Deutschlandfunkradio that "perhaps [Grexit] would be the better way for Greece". Given [...]
Markets rise on Greece hopes – but euro falls to eight year low against sterling July 16, 2015 If you're off to soak up some rays in one of Europe's sunnier climates this summer, get euros now: the currency dipped to just over 69p against the pound this morning, its lowest in eight years. Meanwhile, the currency dipped below $1.09 against the dollar for the first time since March. That's largely thanks to [...]