Euro edges closer to $1.10 mark as investors await more details on quantitative easing March 4, 2015 The euro edged closer towards the $1.10 psychological barrier in early afternoon trading, falling 0.8 per cent to $1.1086 as investors awaited further details of the European Central Bank's (EBC) €1.2 trillion (£870bn) quantitative easing programme. The currency crashed through its previous 11-year low of $1.1098, which it hit in earlier this year. ECB chief [...]
Eurocell IPO: Shares trade above initial offer price March 4, 2015 Shares in Eurocell traded up today after the window and door maker's debut onto the London Stock Exchange. The Derbyshire-based firm, spun off by private equity group H2 Equity Partners, priced its shares at 175p, valuing it at £175m. But the company's shares were about 5.7 per cent higher in late afternoon trading, at 185p. "We have [...]
More Londoners will be affected by EU bonus cap under new rules March 4, 2015 More people working in the UK's financial services sector will have their bonuses capped, under new draft guidelines released today by the European Banking Authority (EBA). Last year, the financial watchdog put into force a limit on bonuses among bankers across the EU's 28 member states, stipulating that they could be no greater than twice [...]
Ford’s European chief Jim Farley says UK is better off without a Brexit March 4, 2015 Car manufacturing behemoth Ford has thrown its weight behind the campaign to keep the UK in the European Union. Jim Farley, the president of Ford’s European operation, said the company “really hopes” the UK remains part of the EU. He called the UK’s continued membership “critical”. During his slot on Radio 4's Today programme, Farley underlined [...]
Fresnillo share price sheds as much as six per cent after pre-tax profit falls 40 per cent March 4, 2015 The figures Fresnillo said revenue fell 12.5 per cent to $1.41bn in the year ending December 2014, down from $1.6bn a year earlier. Pre-tax profit at the precious metals producer fell 40 per cent to $251m primarily due to plummeting silver and gold prices, as well as higher production costs. The company's share price slumped as [...]
Tesco hires BP vice president Byron Grote March 4, 2015 BP director and vice president Byron Grote is joining Tesco's board as the troubled supermarket looks to bolster its financial experience. Grote, who has been at BP since it acquired Standard Oil of Ohio in 1987, joins the Tesco board on May 1 as a non-executive director. The grocer said he brought “extensive executive [...]
Standard Chartered share price rises as boss Peter Sands gives up bonus March 4, 2015 Shares in troubled bank Standard Chartered were up six per cent this morning, despite reporting a sharp drop in pre-tax profits. Investor optimism was clearly high, as outgoing boss Peter Sands, who, it was revealed last week, will be replaced by Bill Winters, announced he and the rest of the board will forego their bonuses. [...]
Cold snaps cost the economy £2.5bn, says Cebr research on UK weather’s impact March 4, 2015 Freezing temperatures are not just bad for your bones, but cost the UK billions of pounds in lost productivity and output having the most severe impact on the economy than any other type of weather. Just a single degree drop in the minimum average temperature costs the UK economy £2.5bn, and has a worse effect [...]
In charts: Eurozone service sector showing “clear signs of recovery” with France’s growth the fastest in 42 months March 4, 2015 Amid the fear and doubt surrounding the future of the Eurozone, business growth in the economic bloc has reached a seven-month high. The figures With any reading above 50 indicating growth, the Markit purchasing managers’ index score was 53.7 for February, which, although lower than the 53.9 given in a flash estimate last month, is [...]
Vienna tops list of cities for highest quality of life as London drops down March 4, 2015 If you've had enough of overcrowded tubes, ridiculous rents as well as overpriced bars and restaurants – and have always wanted to work in another country – then these are the cities you should be setting your sights on. Vienna's quaint coffee shops, meandering bike paths and majestic architecture propelled it to the top spot of [...]