Retail sales fall more than expected in January February 21, 2014 UK retail sales weren’t as good as expected in January. Month-on-month, they fell 1.5 per cent, after December’s particularly strong 2.5 per cent rise on the back of bumper Christmas shopping. Analysts had expected a fall of one per cent in January. The decline's the biggest since April 2012. But the underlying trend in retail [...]
Game on – Farage to take on Clegg over EU February 21, 2014 Nigel Farage has accepted Nick Clegg's challenge to debate Britain's membership of the European Union. Speaking to LBC's Nick Ferrari show, Farage said: I have absolutely no choice I've got say yes. He added: I will do it with Nick Clegg, but the other two, I'd like to see them there as well. In the [...]
Axa shares slide as earnings miss estimates February 21, 2014 Insurance firm Axa has reported net income up 14 per cent in 2013 to €4.5bn. Lower than expectations of analysts polled by Thomson Reuters, who has forecast earnings of €4.96bn, the figure was negatively impacted by interest rates and foreign exchange hedging derivatives, the firm said. Shares have fallen almost two per cent on the [...]
Ukraine President confirms early vote February 21, 2014 The Ukranian President Victor Yanukovych has confirmed that the country will be holding an early presidential poll. The President has agreed to a national unity government and to constitutional reforms designed to limit the power of the President. Earlier in the day the President released a statement saying an agreement was reached with opposition leaders and [...]
SES profits jump in wake of strong video focus February 21, 2014 Satellite and communications company SES has reported a jump in profit before tax of 9.1 per cent to €677m (£577m) for the year to 31 December. SES said it was reinforcing its position in developed markets, while focusing on investments in regions and applications with high growth potential. Romain Bausch, president and CEO, commented: The [...]
What you need to know before the open February 21, 2014 With UK retail sales out this morning, European markets are expected higher. Stocks were seen rallying in premarket trading, tracking US counterparts. Along with Asian stocks, they responded well to better-than-expected US manufacturing data, contrasting to the previous day’s weak results for China. This morning, Ukraine President Viktor Yanukovych said a deal, which will be [...]
Any Other Business – 21/02 February 21, 2014 THOSE of you heading for a Friday night out at Sushi Samba later might want to take some provisions with you. Word comes to us that one City consultant got stuck in the lift at the restaurant for four hours last Friday evening. Stephen Pearce, whose consultancy Kennedy Pearce also has an office in Heron [...]
Asian markets riding high on US data February 21, 2014 Asian markets are bouncing back in the wake of better than expected US manufacturing data. US factory activity accelerated at its fastest pace for nearly four years in February, according to Markit’s preliminary US manufacturing purchasing managers’ index. The US Labour Department also showed there were fewer applications for unemployment benefit last week. The results [...]
NHS and benefits reform praised as key to raising UK productivity February 20, 2014 REFORMS to the UK’s welfare state are boosting productivity, growth and wages, according to a report out today from the Organisation of Economic Cooperation and Development (OECD). Britain is lagging behind other rich countries, with productivity as much as 25 per cent below the average across the G7 in 2012, the Office for National Statistics [...]
EU sanctions as Ukraine burns February 20, 2014 HOPES of a resolution to the growing crisis in Ukraine have faded with violent clashes claiming the lives of 75 people since Tuesday. European leaders last night voted to impose sanctions on the country after talks between three EU foreign ministers and the Ukrainian government broke down without a resolution. The sanctions include asset freezes, [...]