Wall St drops on dollar fears – New York Report March 24, 2015 US stocks fell for a second session yesterday, with equities keeping a tight range that corresponded with currency fluctuations as traders focused on the dollar’s strength and its possible effect on corporate earnings. The Dow Jones industrial average fell 104.9 points, or 0.58 per cent, to 18,011.14, the S&P 500 lost 12.92 points, or 0.61 [...]
Why drug-resistant superbugs could wipe 6pc off the world economy by 2050 March 24, 2015 Tackling antibiotic resistance could become one of the biggest struggles of our time, according to new research by the UK All Party Parliamentary Group on Global Tuberculosis (APPG TB). An overuse and misuse of antimicrobials has allowed some of the planet's deadliest diseases to start winning the battle against man-made drugs, and the situation is [...]
HSBC to move 1,000 jobs from Canary Wharf to Birmingham March 24, 2015 HSBC will move 1,000 jobs from its Canary Wharf headquarters to Birmingham from 2017, the bank said today. In a statement today, it added that the jobs will be head office roles at its ring-fenced bank. Under rules due to be set out by the Prudential Regulation Authority (PRA), banks must separate their "core" retail [...]
Five Morrisons execs leave as Potts swings axe March 24, 2015 Five members of Morrisons' management team are on the way out, after new boss David Potts swung his axe. Group customer marketing and digital director Nick Collard, group retail director Martyn Fletcher, group property and strategy director Gordon Mowat, group logistics director Neal Austin and convenience managing director Nigel Robertson are all leaving. "I will [...]
Brexit would be “disastrous” for UK, says Standard Life chairman March 24, 2015 The chairman of insurer Standard Life has told the CityWeek conference it would be "disastrous for London and the UK" if Britain were to leave the single market. Sir Gerry Grimstone said: Why on earth would we not want to be part of one of the biggest markets in the world? Our whole energy should [...]
Surprise as UK inflation falls to zero for first time since current records began in 1989 March 24, 2015 Inflation fell to zero in February for the first time since current the current records began in 1989, moving Britain closer to deflation, official statistics showed today. Figures released by the Office for National Statistics showed prices didn't increase at all in February compared with the same time a year ago. The figure came [...]
888 Holdings share price jumps as it announces one-off dividend after “record” year March 24, 2015 Investing may be a gamble, but this morning 888 Holdings shareholders won big after the online gaming group recommended a special dividend of 7 cents per share, on top of a final dividend of 4.5 cents per share. The news sent shares up 4.75 per cent at 160p as the market opened. The company said [...]
Missed financial targets at RSA wipe a third off of Stephen Hester’s bonus March 23, 2015 RSA chief executive Stephen Hester has been granted 68 per cent of his potential bonus, with missed financial targets mostly responsible for the loss of nearly one third. Hester’s £939,000 bonus took his total remuneration for 2014 to £2.12m, according to the company’s annual report released yesterday. Hester became embroiled in several pay scandals as [...]
Heron Tower forex trader CWM FX drops website after provider Leverate pulls platform March 23, 2015 CWM FX has pulled the forex trading function from its website after platform provider Leverate Financial Services terminated its working agreement, City A.M. understands. Earlier this month CWM FX referred to a City of London police raid at Heron Tower (100 Bishopsgate) in which 13 people were arrested, and later released on bail. Further details [...]
Mario Draghi defends ECB policy decisions after QE rollout March 23, 2015 European Central Bank (ECB) chief Mario Draghi yesterday hit back at claims that new monetary policy measures would reduce the need for governments to undertake reforms, ultimately harming growth prospects. “Do you really think a high level of interest rates would form an incentive for a government to improve its education system, or judiciary, or [...]