New Quindell deputy chairman Jim Sutcliffe to step down from the Financial Reporting Council January 16, 2015 New Quindell deputy chairman Jim Sutcliffe will step down from his role as chairman of the Financial Reporting Council's (FRC) codes and standards committee "with immediate effect", the organisation said today. Sutcliffe was appointed as Quindell's new deputy chairman earlier this week, causing its shares to rise more than 26 per cent. But the troubled [...]
Swiss franc surges after central bank scraps currency ceiling and slashes interest rates January 15, 2015 The Swiss franc has surged against the euro after the central bank scrapped a currency "ceiling", and took interest rates even further into negative territory. The Swiss franc was up as much as 37 per cent against the euro before later paring gains. Swiss shares shed some 10 per cent after investors rushed into safe-haven [...]
Euro tumbles to new nine-year low after Swiss central bank slashes interest rates January 15, 2015 The tumbled to new nine-year low after the Swiss central bank slashed interest rates to -0.75 per cent and scrapped its currency "ceiling." The euro fell to $1.1685 against the US dollar following the shock announcement by its central bank. The FTSE Eurofirst 300 initially shed 2.1 per cent before recovering to trade down 1 [...]
Company floats in 2014 score higher than FTSE 100 average January 14, 2015 IF YOU invested in any the 30 companies that completed public floats last year, chances are you’ll be happy you did. Research out from Deloitte shows the 2014 additions to the share market generated an average return of 12.4 per cent, outperforming the FTSE 100 by 14.4 percentage points. An investment of £1,000 in each [...]
Policy hawks stand ground despite sinking inflation January 13, 2015 A drop in the inflation rate to 0.5 per cent has not been enough to reverse the positions of monetary policy hawks – economists favouring a hike in interest rates. “We think the economy is growing strongly enough to take a normalisation of monetary policy and we’re sticking by that,” James Sproule, chief economist at the [...]
Inflation has fallen below target: Should the UK be worried? January 13, 2015 Lower price rises are a boost for the UK but something to be feared in Europe. Why target inflation? Inflation is the increase in average prices in the economy over a period of time – normally a year. It is calculated by looking at a typical basket of goods, and seeing how the price [...]
UK Inflation: Walkmans, videos and rollerblades – this is what the basket of goods looked like last time inflation was this low January 13, 2015 The last time inflation was this low, shoppers were still buying Walkmans, recording their favourite TV shows using a VHS recorder – and rollerblades were A Thing. Prices rose just 0.5 per cent in December, the latest ONS figures reveal, the slowest rise since records began in 1989, and on a par with May 2000’s [...]
UK inflation: Consumer price index falls to 0.5 per cent in December January 13, 2015 Crumbling energy and petrol prices dragged the rate of inflation to a joint low since records began in 1989, forcing Bank of England (BoE) governor Mark Carney to write an open letter to the chancellor explaining the fall. The consumer prices index (CPI) rose just 0.5 per cent in the year to November, the Office [...]
Mark Carney set to write inflation letter next month January 12, 2015 INFLATION is expected to have dropped too far below the Bank of England’s target, prompting an embarrassing letter from Mark Carney to George Osborne to explain what went wrong. But instead of sending the letter the moment the inflation data is published – at 9.30am this morning – the governor of the Bank will now [...]
Quindell share price rises as investors give thumbs up to Richard Rose and Jim Sutcliffe appointments January 12, 2015 Investors in troubled insurance outsourcer Quindell yesterday welcomed the firm’s appointment of Richard Rose and Jim Sutcliffe as chairman and deputy chairman, despite it coming to light that the pair have been granted a combined 18.6m share options. The Hampshire-based firm’s stock was up 26 per cent in trading yesterday following the news. “All appointments [...]