Clipstone IPO to raise £150m July 7, 2014 A LOGISTICS real estate investment trust is seeking to raise an initial £150m in a listing on the London Stock Exchange as it looks to tap into the boom in UK online retailing. Clipstone Logistics Reit confirmed yesterday that £72m of properties would be acquired upon admission, of which the majority were warehouses let to [...]
George Osborne tells India: The good days are coming July 7, 2014 Chancellor George Osborne has hailed Narendra Modi’s new administration in India for working to attract investment into the country, telling an audience in Mumbai that “good days are coming”. In a speech in which he announced a number of new trade deals between the UK and India, the chancellor praised the close ties between the [...]
Booming factories beginning to reach the limits of their capacity July 7, 2014 BULLISH manufacturers are increasingly running up to the limits of their capacity, according to a new survey today, despite the sector’s output being depressed in comparison to the pre-crisis period. The British Chambers of Commerce (BCC) today said that capacity utilisation in UK industry was at its highest on record, according to its quarterly update. [...]
Shock drop in output recorded for Germany’s industrial firms July 7, 2014 GERMANY’S industrial output took a tumble in May, according to statistics released yesterday, showing the biggest month-on-month drop in more than a year and a half. Between April and May, production dipped by 1.8 per cent, with year-on-year growth of just 1.3 per cent, the slowest in 2014 for the Eurozone’s powerhouse economy. “Today’s data [...]
Germany’s Angela Merkel sends strong warning to US over spy claims July 7, 2014 German Chancellor Angela Merkel has spoken for the first time about an alleged double agent in the German intelligence community, claiming if true it would be “a clear contradiction of what I consider to be trusting co-operation” with the US. Speaking during a trade visit to China, her seventh since taking office in 2005, Merkel [...]
Robert Walters buoyed by rise in UK hiring July 7, 2014 WHITE-COLLAR recruiter Robert Walters yesterday announced a five per cent rise in second-quarter gross profit, as an improved business environment encouraged firms to bring more permanent employees on board. The company, which places workers in engineering, legal, marketing and banking jobs, said it expected full-year profit before tax to be at the upper end of [...]
Cut taxes and spending to boost economic growth, says Eurogroup July 7, 2014 CUTTING taxes on employment will create jobs and growth, making Europe’s economies more competitive, Eurozone finance ministers – the Eurogroup – said yesterday. Europe’s taxes on labour – including income tax and social contributions – are among the highest in the world, and the Eurogroup urged each nation to take more action. It listed 11 of [...]
Euro investors more confident as international crisis fears fade July 7, 2014 THE OUTLOOK of European investors improved slightly in July, against expectations and reversing the trend of the previous two months, according to the Sentix economic index. The measure came in at 10.1 in July, up from June’s 8.5, but still lower than scores recorded earlier in the year. The index still stands above zero, signalling [...]
Agri-giant ADM likes the taste of Wild Flavors July 7, 2014 Archer Daniels Midland Company (ADM), the US-based agribusiness giant, has agreed to buy Wild Flavors, a supplier of natural ingredients to the food and beverage industry, in a deal worth €2.3bn (£1.83bn). ADM will buy Wild Flavours from Hans Peter Wild, who has a 65 per cent stake in the company, and private equity firm [...]
Daily gold fix could be scrapped to stop price manipulation risk July 7, 2014 The gold price fix could become a continuous process, rather than a single daily event, to stop traders manipulating the benchmark, the World Gold Council (WGC) said yesterday. And the banks who set the price could lose their position with more firms brought in to join them. Currently the fix, the price used in transactions [...]