US home resales cool off in August September 21, 2015 FOLLOWING three consecutive months of gains, the rate of US home resales fell by more than analysts’ forecasts in August, according to data released by the National Association of Realtors (NAR) yesterday. The annualised figure was down 4.8 per cent in August from an eight-year high of 5.58m in July. NAR chief economist Lawrence Yun [...]
Stevia maker PureCircle aims for main market as profits rise September 21, 2015 STEVIA ingredients producer PureCircle is set to move to the London Stock Exchange’s main market, after reporting a 78 per cent rise in profits for the year to 30 June 2015. The firm’s revenue jumped 26 per cent to $127m (£82m). PureCircle’s increased profitability has been driven by a rise in demand for natural sugar [...]
Small business owners feel benefits of growing economy September 21, 2015 Two thirds of small business owners are confident about the opportunities for business growth over the next five years. A survey by insurers Axa shows that 62 per cent of SME owners say they are thriving as a result of owning their own business. Glen Parkinson, SME business director at Axa PPP healthcare, said: “It’s [...]
Medium-sized deal makers join the M&A party September 21, 2015 COMPANIES involved in takeovers have been financially outperforming their peers in recent months, new research showed yesterday. Acquirers in medium-sized deals, between $100m (£64m) and $1bn, outperformed a global index of companies by 14 percentage points in the three months to September, research from Towers Watson and Cass Business School shows. Larger deals – over [...]
Lockhart confident the US will see an interest rate rise this year September 21, 2015 THE FEDERAL Reserve can still hike rates this year, a US central banker said last night. “I am confident the much-used phrase ‘later this year’ is still operative,” Dennis Lockhart, who votes on the rate-setting committee, said yesterday. “As things settle down, I will be ready for the first policy move on the path to a [...]
City Moves for 22 September 2015 | Who’s switching jobs September 21, 2015 LEGAL & GENERAL INVESTMENT MANAGEMENT Katharine Photiou has been appointed head of workplace defined contribution, product and proposition, at the investment management firm. She joins from Barclays, where she was head of workplace savings. Photiou has also held roles at Mercer and Friends Provident, latterly as head of defined contribution corporate strategy and design. JP [...]
Wall St rises despite fall in biotech shares – New York Report September 21, 2015 THE MAJOR US stock indexes ended higher yesterday, rebounding from losses late last week with help from Apple and financial shares, but a drop in biotech shares limited Nasdaq’s advance. The Dow Jones industrial average rose 125.54 points, or 0.77 per cent, to 16,510.12, the S&P 500 gained 9.03 points, or 0.46 per cent, to [...]
Bank of England deputy governor Jon Cunliffe says UK economy “pretty strong” and next interest rate move likely to be a rise September 21, 2015 Bank of England (BoE) deputy governor Jon Cunliffe has said Britain's economy is "pretty strong" and that the next interest rate move should be in an upwards direction. "We’ve got to look 18-24 months ahead but if you put that economic picture together it seems that the next move on monetary policy would be up and [...]
QE programme details: Why all eyes are on ECB president Mario Draghi this week – eToro Tips & Picks September 21, 2015 The markets continue to be dominated by last week’s Fed rate decision. The Fed seems to have caused more concerns about emerging markets by not raising rates than it would have done if it had tightened policy. Investors are still trying to decipher just what last week’s meeting means for the markets and [...]
Volkswagen reportedly target of criminal investigation by the US justice department September 21, 2015 Volkswagen (VW) is reportedly the target of a criminal investigation on emissions by the US justice department according to a Bloomberg report. The company's shares closed down 23 per cent today, after chief executive Martin Winterkorn apologised for manipulating the carbon emissions data from Volkswagen and Audi vehicles. "I personally am deeply sorry that we [...]