Kier Group on the road to higher revenues and profits as orders rise after Mouchel buy-up September 18, 2015 KIER Group’s share price dropped by 4.61 per cent yesterday after the group announced its results for the year. However, the construction firm saw a 14 per cent rise in revenue for the year to 30 June, up to £3.4bn from £2.9bn last year. The group’s pre-tax profit jumped by 17 per cent, from £73.7m [...]
Soaring rents cool off in August but agents warn of imminent rises September 17, 2015 RENTS paused for breath in August after blistering increases earlier this year, but agents warn it could just be the quiet before the storm as lettings season picks up in the autumn. Average rents across England and Wales dipped 0.1 per cent last month, taking annual growth down to 5.5 per cent from July’s record [...]
How the world reacted to the Federal Reserve interest rate decision: Emerging markets soar and US stocks whip about on Fed’s decision not to hike rates September 17, 2015 Emerging markets took off after the Federal Reserve’s decision to hold interest rates steady at a historic low – but the dollar swooped on the news. Blaming a shaky global economy, the Fed’s Federal Open Market Committee voted to hold its fire on a US rate hike, leaving interest rates at the zero to a [...]
Britain’s wardrobe comes with an expensive £38.5bn price tag September 17, 2015 LONDON is a city of unashamed spenders when it comes to clothing, according to new research released yesterday that estimates Britons’ wardrobes to be worth a staggering £38.5bn. The report, released yesterday by Allianz Insurance ahead of London Fashion Week, surveyed more than 2,000 Brits about their shopping habits and found that women value the [...]
City Moves for 18 September 2015 | Who’s switching jobs September 17, 2015 BNP PARIBAS INVESTMENT PARTNERS The asset manager has announced several appointments to its institutional business. Guy Williams becomes chief investment officer. He was formerly chief investment officer of the firm’s global fixed income affiliate Fischer, Francis, Trees & Watts (FFTW) Daniel Morris joins Williams’s team as senior investment strategist and Richard Barwell (pictured) joins as [...]
Market slips as Fed holds – New York Report September 17, 2015 THE S&P 500 and Dow industrials ended lower yesterday, giving up a one per cent rally in a choppy session, as investors struggled to interpret the Federal Reserve’s decision to hold off on raising interest rates. The Dow Jones industrial average fell 65.27 points, or 0.39 per cent, to 16,674.68, the S&P 500 lost 5.11 [...]
Fintech is booming – but where are the insurance tech startups? September 17, 2015 As a technology investor, I spend my days scouring Europe in search of the next big thing. London’s fintech scene has been a profitable hunting ground of late. With the UK fintech industry generating $20bn in revenue annually, it is not surprising that $5.4bn has been invested in British fintech companies since 2010. [...]
Uber can help make London’s congestion a thing of the past – if sensible regulation allows innovation September 17, 2015 Every morning, 1m people brave London’s roads at rush hour and drive to work. And 94 per cent of them drive alone. This might be preferable to squeezing onto public transport, but the strain on London’s roads will only worsen as our economy grows. We need change. Yet there is an alternative to [...]
Federal Reserve interest rate decision: Fed leaves US interest rate unchanged September 17, 2015 The Federal Reserve decided to keep US interest rates unchanged today, confirming analysts’ suspicions that recent market turmoil would stay the bank's hand. The shaky global economy, recently dragged by turmoil in China after Black Monday, lay behind the Fed's decision to hold its fire and keep the interest rate at its zero to a [...]
Retail sales suggest UK economic growth to slow in the third quarter September 17, 2015 UK retail sales inched up in August – having dipped a month earlier – but a lack of strength is leading analysts to warn that UK growth is hitting a "soft patch" in the third quarter. Retail sales grew by just 0.2 per cent on a monthly basis, in line with expectations, according to the [...]