Mark Carney silent on Bank of England’s mystery dove as he predicts interest rate hikes February 24, 2015 Interest rates will rise gradually over the next two years, Mark Carney told MPs yesterday, playing down the chance of another rate cut. One member of the monetary policy committee (MPC) is tempted to vote for a rate cut, according to the minutes of its last meeting. However, Bank of England governor Carney refused to [...]
Our key takeaways from Mark Carney’s speech on UK interest rates February 24, 2015 During a speech to MPs earlier today, Bank of England governor Mark Carney said an interest rate hike before the end of the year looked likely. Reading out highlights from the central bank's quarterly inflation report, he told parliament’s treasury select committee that the rise would take place despite low consumer inflation, which [...]
Apple share price climbs towards trillion dollar valuation February 24, 2015 Apple, the maker of iPhones, MacBooks and soon-to-be Apple watches, saw its share price tick up today, meaning it was edging that little closer to hitting the never-before-seen trillion dollar valuation. Apple's share price fell as much as 0.9 per cent to 131.44 in early morning trade, before paring gains to 133.5. Yesterday, it closed [...]
The UK has the sixth best digital economy in Europe February 24, 2015 The UK is one of Europe's leading digital economies, ranking as the sixth best country in Europe a new report has found. It's ahead of the majority of the rest of Europe when it comes to digital in areas such as connectivity, internet use and the integration of digital technology, according to the European Commission [...]
Yellen: Fed will drop the word “patient” before it hikes interest rates February 24, 2015 The US Federal Reserve's rate-setting committee will lose patience before it hikes interest rates, promised Fed boss Janet Yellen today – although she remained cagey about when that would happen. In prepared remarks to the Senate Banking Committee, she suggested there is no "given point" at which the Federal Open Markets Committee (FOMC) will decide [...]
The UK economy according to the OECD in six charts February 24, 2015 Andy Haldane, the Bank of England's chief economist, said last year that the economy "appears to be writhing in both agony and ecstasy." While the economy was growing at a faster rate that most of its rich counterparts, most people weren't benefiting from this because real wages were falling, and productivity, or output per hour work, [...]
HSBC share price hits two-year low in Hong Kong February 24, 2015 HSBC shares listed on Hong Kong's Hang Seng index, tumbled as much as 3.9 per cent to HK$69.15, after it posted figures showing pre-tax profits tanked 17 per cent to $18.6bn (£12.1bn) in 2014, down from $22.5bn the year before. The bank's shares listed on the FTSE 100 closed down 4.2 per cent at 573.3p yesterday, [...]
Persimmon share price falls despite profits jumping 44 per cent February 24, 2015 The figures Persimmon, the UK's biggest listed housebuilder, said underlying pre-tax profit jumped 44 per cent to £475m for the fiscal year 2014, up from £330m a year earlier. Full-year revenue rose 44 per cent to £475m, up from £330m in 2013. Completions – the number of homes built – rose 17 per cent to 13,509 while [...]
Apple plans €1.7bn investment in European data centre project February 23, 2015 TECHNOLOGY titan Apple’s shares reached a record high of $133 last night after the US group announced plans to invest €1.7bn (£1.2bn) on two massive European data centres. Chief executive Tim Cook called the data centres: “Apple’s biggest project in Europe to date”. Based in County Galway, Ireland, and Denmark’s central Jutland, the two data [...]
Quindell’s stock surges as it extends Slater & Gordon talks February 23, 2015 STOCK in the beleaguered insurance outsourcer Quindell surged 26 per cent in trading yesterday, after the company said it had extended the exclusivity period for talks with Slater & Gordon over the sale of its professional services division. The news was aimed at dampening market speculation that negotiations with the Australian law firm had come [...]