Former Apple boss quits role at Monsoon after two years February 18, 2015 Monsoon chief executive John Browett has quit after two years in the job to pursue other opportunities. The former boss Dixons Retail has had an eventful few years after leaving the electricals giant in 2012 to join Apple as head of retail. However, his stay at Apple’s US headquarters was short-lived and he [...]
Federal Reserve cautious of raising interest rates against backdrop of economic growth February 18, 2015 The Federal Reserve’s policy committee reaffirmed its cautious approach to raising interest rates after voting in unison against the measure in January. Minutes from the January meeting reveal that the majority of the committee were wary of hiking rates too soon and hampering growth in the US economy. However, the group was less unified [...]
Sterling hits new seven-year high against Euro following hints of interest rate hike February 18, 2015 The UK’s pound jumped more than one per cent against the euro today to €1.36, reaching its strongest level since January 2008 after the Bank of England hinted it could lower interest rates in the next few months. The seven-year high for sterling against the eurozone currency came after minutes from the Bank [...]
Tesco investors non-plussed by John Allan as chairman – he’s no Archie Norman say analysts February 18, 2015 Something to tick off Dave Lewis’ Tesco recovery to-do list: – appointing a new chairman. The milestone was finally passed after a near four-month search with the naming of Dixons Carphone’s John Allan as Richard Broadbent’s successor. What’s that done to Tesco shares? Not much. They edged up slightly in early trading and are [...]
Chinese New Year: How the goat could bring some prosperity to China’s struggling economy February 18, 2015 The year of the horse didn't work out too well for China. Growth slowed to its lowest point in two decades, while an over-investment in construction has resulted in too much property relative to demand. The country's leaders have attempted to spur growth on again, with the People's Bank of China cutting interest [...]
Bank of England minutes: MPC unanimously voted to hold interest rates February 18, 2015 The Bank of England's monetary policy committee (MPC) voted unanimously to hold the interest rate at 0.5 per cent when it met last, despite hints it could be lowered in the next few months. Minutes of the MPC's meeting in early February showed the committee's hawks – Martin Weale and Ian McCafferty, who have both [...]
Plunging inflation may knock deficit reduction February 17, 2015 Inflation fell to a record low in January, giving a welcome boost to hard-pressed households – but a group of economists warned the drop will harm the government’s finances, because tax receipts rise when prices go up. Prices rose by just 0.3 per cent in the 12 months to January, the Office for National Statistics said [...]
Tesco hopes Allan is the key to resolving its lingering problems February 17, 2015 John Allan turned around Dixons, but can he now reboot Tesco? ONE sat on the board of high street electricals giant Dixons Carphone while the other has already led a successful turnaround of supermarket Asda. Both Archie Norman and John Allan were considered strong contenders for the chairman role at Tesco, but last night the [...]
Finance firms shun bond market as likes of Apple take the lead February 17, 2015 APPLE’S Tim Cook has rolled out four jumbo bond issues in the past two years – and according to new research published yesterday it seems he’s not alone. Figures from the influential Organisation for Economic Co-operation and Development (OECD) show the number of non-financial companies issuing corporate bonds has jumped 77 per cent since 2008, [...]
Here’s everything we know about Tesco’s new chairman, John Allan February 17, 2015 After a four-month search, Tesco has finally revealed who will replace Sir Richard Broadbent as chairman. John Allan was chosen after “a deep and thorough process” to lead the supermarket's board as it attempts to recover from a wretched 2014. Allan, who commented that he was “very pleased to be taking on this role at such a [...]