OECD warns Labour price freeze could see lights go out December 9, 2013 The secretary-general of the OECD, Angel Gurria has warned that the Labour party's planned energy price freeze could bankrupt energy investors leading to chaos in Britain's energy market. Speaking to BBC's Panaroma due to broadcast on Monday night, he said: If you freeze the price of energy and the international price of energy rises, it [...]
What you need to know before the open – 09/12 December 9, 2013 A positive start to the week's trading is expected today, with a very thin macroeconomic calendar ahead of us for Monday. Analyts forecast that the FTSE will open higher on momentum from Friday's US session, record highs on India's Sensex stock index, and the better than expected Chinese inflation data published this morning. Morning all. [...]
Albermarle & Bond profits crash by over 75pc as gold prices slide December 9, 2013 Troubled pawnbroker Albermarle & Bond (A&B) won't be feeling much better today. The company has been hit by multiple setbacks – most recently announcing on the 30 September that falling gold prices have created uncertainty over its future. Its final results for the financial year ended 30 June reveal that performance is markedly worse on [...]
You won’t believe why some think China’s smog is a good thing December 9, 2013 It's not news that Chinese megacities are suffering from some pretty terrible smog, such as Beijing, pictured above as early as 2008. The International Olympic Committee (IOC) raised it as one of their concerns for the 2008 games. Since then, it's been getting much worse, and many are worried about the health impacts. But it [...]
Ex Barclays chief Bob Diamond returns December 9, 2013 Former Barclays chief executive plans his City comeback BOB DIAMOND is launching a new investment vehicle in London to fund a venture into African banking, his first big move since leaving Barclays in last year’s Libor scandal. City commentators welcomed the investment banker’s return, 18 months after he bore the brunt of the blame for [...]
Mayor’s office sold in £1.7bn Kuwaiti deal December 9, 2013 KUWAITI firm St Martins Group has paid around £1.7bn to buy the More London complex next to Tower Bridge, which includes Boris Johnson’s headquarters City Hall. The sale, one of the largest ever UK commercial property deals, is due to be formally completed next month. The 10-year old development on the south bank of the [...]
Christmas cheer kicks off with card spending boost December 9, 2013 A SEASONAL boost in consumer spending began last month, with new figures from millions of credit and debit cards showing a three per cent increase from October. Online sales were particularly popular in November, according to Barclaycard, swelling to just over a fifth of all spending. Black Friday’s frenzied shopping has now arrived from the [...]
Boris’s airport could get axe in Davies report December 9, 2013 THE MAYOR’s plans for a hub airport in the Thames Estuary could get the axe in a report out later this month, Boris Johnson’s own aviation adviser has warned. Daniel Moylan told industry experts that the plan for an airport based on the Isle of Grain in north Kent or on an artificial island is [...]
World leaders gather to mourn Nelson Mandela December 9, 2013 WORLD leaders including David Cameron, Barack Obama and Angela Merkel will join stars such as Bono, Oprah Winfrey and the Spice Girls for a four-hour memorial service for Nelson Mandela in Johannesburg tomorrow. Although the programme has so far not been revealed, President Obama is likely to deliver a speech and various pop stars are [...]
What the other papers say this morning – 09 December 2013 December 9, 2013 FINANCIAL TIMES HSBC eyes listing of £20bn UK bank HSBC has sounded out investors about a flotation of its UK arm, in a move that would realise value from its high street banking business and address regulatory pressures. The bank has in recent weeks asked investors whether they would support the sale of a sizeable [...]