Fed up markets down? It’s about funding not rates September 18, 2015 Global markets were sent into a tailspin yesterday after the Federal Reserve held fire on interest rates amid fresh concerns over the Chinese economy and emerging markets. But market mavens should be paying attention to funding, rather than interest rates. It’s frequently said and not always in jest, that the credit markets are smarter than the stock [...]
Poundland’s share price climbs as it gets final clearance from competition watchdog for 99p Stores bid September 18, 2015 Poundland's share price rose this morning after saying it will complete its acquisition of rival 99p Stores by the end of this month, after receiving final clearance from Britain's competition watchdog today. The Competition Markets Authority (CMA) concluded that a merger between the two budget retailers wouldn't result in a substantial lessening of competition. It [...]
Fidor launches in the UK as digital challenger bank expands September 18, 2015 A German digital challenger bank is expanding to the UK, joining the ever-growing collection of challenger banks giving the "big five" a run for their money. Fidor, an innovative online lender which crowdsources ideas for financial products and incentivises users with better rates if they can get Facebook "likes", launches today, offering a flexible saving [...]
Chile earthquake 2015: 8.3 magnitude quake sends London copper up to two-month high September 18, 2015 The major earthquake that hit Chile late last night has caused copper to rise to a two-month high on the London Metal Exchange. Its benchmark value went up 1.1 per cent to $5,440.50 a tonne, following fears that the natural disaster would impact supplies from Chile, which is the world's biggest producer of the [...]
Chile earthquake 2015: Quake prompts tsunami warning in California, Hawaii, Peru and New Zealand September 18, 2015 A tsunami warning has been issued for Los Angeles and other parts of California, as well as Hawaii, after an 8.3 magnitude earthquake struck central Chile yesterday. The earthquake first struck just off the coast of Chile, about 144 miles north west of the capital Santiago, just before 8pm local time. Five people are known [...]
Using ad-blocker on City A.M. September 18, 2015 Why can’t I use an ad blocker on cityam.com? The journalism on City A.M. is funded by advertising but this business model is threatened by the use of ad blockers, which prevent adverts from appearing on the website. City A.M. therefore restricts access to full articles when ad blockers are active. How do I [...]
Meet purple squirrels: The new breed of star employee that companies need to be more open-minded about hiring September 18, 2015 The Social Mobility and Child Poverty Commission’s recent finding that top law and accounting firms are shunning talented working class applicants in favour of more privileged candidates made me think hard about diversity in my own industry, advertising. I’m sure many other business leaders reacted in the same way. Unfortunately, this problem is not [...]
Anxious investors weigh on FTSE as engineering is hit – London Report September 18, 2015 London’s leading shares closed lower yesterday as anxious investors awaited the outcome of the US Federal Reserve’s interest rate-setting meeting. The blue-chip FTSE 100 index closed 0.68 per cent lower, or 42.22 points, at 6186.99. Engineering firms led the index downward, with the Weir Group slipping 2.58 per cent and Smiths Group shedding 4.16 per [...]
Crawl behind the roped-off area with Maggie’s charity jaunt September 18, 2015 Tonight some of London’s finest state rooms and offices will be open to the public – but those generous types doing the Maggie’s Culture Crawl may be a bit flushed in the face by the time they arrive at the Foreign Office in Westminster. After a 15-mile walk for charity, weaving through London’s historic buildings, [...]
If you want an iPhone 6 quickly move to NY City September 18, 2015 Londoners have to work an average of 41.2 hours to be able to buy an iPhone 6 – far more than their counterparts in New York City, LA, Miami, Chicago, Zurich or Geneva, where it takes less than 30 hours to notch up enough readies to splurge on the smartphone. And according to UBS’ Prices [...]