Apple and Shell’s Eurozone bond bonanza: Corporate giants set to cash in on cheaper rates and a lower euro September 11, 2015 Two mammoths of the corporate world, Apple and Shell, stepped on to a crowded bandwagon yesterday when they decided to tap the Eurozone’s bond market to raise billions of euros. More than €53bn (£39bn) have been raised using bonds – interest-paying IOUs – by US companies so far this year, according to figures from [...]
Celebrating 10 years of City A.M. with drinks at the Guildhall September 11, 2015 To the Guildhall in the heart of the City, and its magnificent Old Library, where some of the biggest names in finance, business, politics and media celebrated the 10th anniversary of City A.M. The Lord Mayor, Alan Yarrow, welcomed over 500 guests and praised the tenacity of the paper’s founders. Cabinet Office Minister Matt [...]
RBS and NatWest to offer interest-only mortgages from 21 September to high earners September 10, 2015 RBS and NatWest will be offering their wealthier customers interest-only mortgages for the first time since December 2012. The loans, available from 21 September, will only be offered to those earning £100,000 or more a year, excluding bonuses, with a maxium loan-to-value of 75 per cent. Customers must also have an acceptable repayment strategy, such as savings or a [...]
Andrew Tyrie warns over bank surcharge ahead of Treasury meeting September 10, 2015 The chairman of an influential parliamentary committee has once again slammed the bank surcharge ahead of a meeting between challenger banks and the Treasury tomorrow. "Millions of consumers and small businesses have been getting a poor deal for decades because of inadequate competition and choice in banking," Andrew Tyrie, who chairs the Treasury Select Committee, said today. [...]
Ex-StanChart chief executive Peter Sands in talks to advise the UK government September 10, 2015 The former chief executive of Standard Chartered is reportedly in talks to become an informal, unpaid government adviser. Peter Sands, who left the bank in June, will help the government navigate changes in the UK labour market according to the Financial Times. However Sands won't have a direct role in financial regulation, and a formal [...]
UN: Global food prices sustain sharpest fall in seven years September 10, 2015 Global food prices suffered the steepest monthly drop in seven years last month, due to low global oil prices and concern over a slowdown in the Chinese economy. The United Nation's (UN) food price index averaged 155.7 points, down 5.2 per cent from a month earlier, marking the steepest monthly drop since December 2008. The index tracks international [...]
Ikea enjoys record year fuelled by Chinese and Russian shoppers September 10, 2015 Furniture giant Ikea reported another record year yesterday after enjoying strong demand for its flat-pack furniture across all markets. The Swedish company reported an 11 per cent increase in full-year sales to a record €31.9bn (£23.2bn) compared with the previous year. Sales at stores open more than a year grew by 5.1 per cent in [...]
Survey: Businesses still confident despite risks September 10, 2015 IN SPITE of lingering uncertainty over Britain’s relationship with the European Union, UK business owners are overwhelmingly optimistic, according to a new survey out today. In a survey of more than 300 UK owner-managed businesses, Allied Irish Bank found that six in 10 owner managers expect the economic situation to improve in the next year, and [...]
Ericsson purchases software maker Envivio in $125m deal September 10, 2015 TELECOMMUNICATIONS giant Ericsson yesterday agreed to buy rival Envivio in a deal valued at about $125m (£81m). Under the terms of the agreement, Ericsson will pay Envivio holders $4.10 a share. The deal is expected to close in the final quarter of 2015. San Francisco-based Envivio, which makes software to process and distribute internet protocol-based [...]
UK Primary Consumer Sentiment Index rises as summer’s economic scepticism starts to recede September 10, 2015 UK consumer confidence appears to have rebounded after a two month decline, according to a survey by Thomson Reuters and Ipsos Mori. September’s figures, released yesterday, show the Primary Consumer Sentiment Index (PCSI) up 1.4 points from August, standing at 53.6 for September. Looking further into the sub-indices that make up the PCSI, the growth [...]