Concerns for growth as Eurozone consumer confidence edges down to 13-month low March 21, 2016 Consumer confidence in the Eurozone has fallen to a 13-month low this month. Figures released today by the European Commission reveal the so-called flash consumer confidence index – an early estimate of data to be finalised at the beginning of next month – dropped to a score of minus 9.7. It marks the third consecutive month [...]
The UK’s giant current account deficit unlikely to create extra risk in the run up to EU referendum, says Bank of England’s Kristin Forbes. March 21, 2016 A top Bank of England official has said the UK's large current account deficit helps to share risk, as well as create it, in the face of domestic uncertainty. The current account deficit hit 5.1 per cent of GDP in 2014, the largest in 60 years of comparable records. It is the amount the UK [...]
Actuaries set out guidelines to protect against risks like Libor manipulation and PPI mis-selling, urging firms to focus more on the quality of their risk data March 21, 2016 The Institute and Faculty of Actuaries (IFoA) has today published a document full of ideas of how financial services firms could better handle operational risk, lowering the likelihood of incidents such as Libor rigging and PPI mis-selling. In its paper aimed at banks, insurers and other financial services firms, the IFoA's Operational Risk Working Party examines how businesses [...]
CBI: UK factory output falls at fastest rate since 2009 March 21, 2016 Manufacturing output fell sharply over the past three months, but demand remains robust, according to a new survey data. Of the 471 manufacturers surveyed by the Confederation of British Industry (CBI), 18 per cent said output had gone up over the last three months compared with 33 per cent that reported a fall. The difference, [...]
Britons have turned their backs on week-long holidays in favour of mini-breaks, new Doodle study shows March 21, 2016 Britons are shunning traditional week-long holidays in favour of "cheaper" and "less stressful" mini-breaks, new research from Doodle shows. The survey, conducted by One Poll, found 28 per cent of respondents had taken an average of five or more holidays last year. But, on average, Britons had only taken one holiday of seven days or more over the past 12 [...]
Brent crude and WTI oil prices stabilise after early losses on Monday March 21, 2016 Oil prices stabilised from early losses on Monday morning as the market absorbed the news that the decline in the number of US oil rigs had halted. Last week, US energy firms added one oil rig in the first addition since December following 12 weeks of cuts, according to oil services firm Baker Hughes. Brent [...]
The Waitrose effect: Living near to the supermarket can double your house price March 21, 2016 We all know that properties near good schools can command higher than average prices – but what about your local supermarket? If you're lucky enough to live within walking distance of a Waitrose, your home is likely to benefit from an uplift to your house price, new research from Emoov claims. It's not clear what [...]
Valeant chief executive Michael Pearson has been ousted from the company following the share price losing 50 per cent of its value last week and flirting with a debt default March 21, 2016 Canadian drug giant Valeant has announced it's going to replace chief executive Michael Pearson. Valeant said in a statement it has kicked off a search for a new CEO, with Pearson continuing as both chief executive and director until his replacement is appointed. The firm has also named activist investor Bill Ackman, CEO of Pershing Square Capital Management, to its board of directors. Robert Ingram, chairman of [...]
YouGov share price flat after market research company reveals boost to profits and revenues for its six months ending January 2016 March 21, 2016 Share price in YouGov was trading flat after the company revealed higher revenues and profits for its six-months ending January 2016. The market research company announced that its revenues had grown to £41.5m, up 15 per cent from £36.2m for the six months to January 2015, while profits before tax had increased to £5m, up 42 [...]
NetPlay TV share price jumps 17 per cent despite year-on-year profit losses March 21, 2016 NetPlay TV, the company behind interactive gaming services including SuperCasino.com, Jackpot247.com and Vernons.com, has seen its share price shoot up today despite slight drops on its year-end financial results. The figures Operating profits for the betting company fell marginally by £0.2m in 2015 to £6.02m (down from £6.24m in 2014), NetPlay TV said this morning. The company's [...]