The pain in Spain falls – but for how long? January 20, 2014 Spanish bond yields continue to fall, plunging this morning to levels last seen in 2006, years before the crisis that dramatically increased the costs of borrowing for many riskier European governments. (Tradeweb) The yield on a 10-year Spanish bond dropped to below 3.7 per cent this morning, down from four per cent at the end [...]
Plans for West End revamp unveiled as Crossrail expected to bring in extra 250m visitors January 20, 2014 Trying to move down Oxford Street at the weekend or any day for that matter is getting rather like trying to move down a busy tube carriage during rush hour. No wonder then that with the imminent launch of Crossrail expected to bring 250m extra visitors West End leaders are thinking about how to improve [...]
Mothercare jumps on Tesco takeover talk January 20, 2014 Talk of renewed interest from Tesco in languishing Mothercare have seen stocks in the baby care and clothes retailer jump over five per cent. Reports that the supermarket has rekindled its interest in launching a takeover bid follow an announcement by Mothercare earlier this month that its full-year profits would be half what analysts were [...]
Two steps forward for Iranian nuclear deal January 20, 2014 In November, an historic deal between Iran and the US, Russia, China and European powers was struck. Today, two significant things regarding the deal are happening. Part of the agreement was that Iran begin curbing its uranium enrichment. That curbing has started today, according to state TV. And today is also the day the UN [...]
The three technologies that are set to win 2014 January 20, 2014 Markets should prepare themselves for an "upgrade wave" due to the huge potential of wearable technology, Ultra High Definition (UHD) TV and the acceleration of innovative automobiles, according to investment banking firm Numis. In the wake of the annual Consumer Electronics Show a host of new technologies are preparing to burst onto the scene innovating [...]
Turkey’s lira is hitting new lows. Here’s what you need to know January 20, 2014 Another morning, another massacre for the Turkish lira. It hit new all-time lows against the dollar this morning, falling below $2.25. That's despite Turkey's fairly fresh faced economy minister Nihat Zeybekci saying on Saturday that "we couldn't couldn’t create an economic crisis in Turkey even if we wanted to, it’s that strong," according to BloombergHT. [...]
Deutsche Bank tumbles on €1.2bn loss January 20, 2014 Shares in Deutsche Bank have fallen five per cent this morning after the bank’s shock announcement last night that it was hit by a pre-tax loss of €1.153bn in the last quarter of 2013. Litigation expenses and one-off restructuring costs weighed heavily on the lender. Market consensus had been for profits of around €700m. The [...]
Why China’s slowing growth isn’t too much of a worry January 20, 2014 Chinese economic growth is slowing, but numbers last night weren’t quite as disappointing as anticipated and still point to steady growth. Fourth quarter GDP slowed from 7.8 per cent to 7.7. per cent – the lowest it's been for 14 years, but above market forecasts of a fall to 7.6 per cent. Industrial production in [...]
What you need to know before the open – 20/01 January 20, 2014 European bourses are set to open lower this morning after a weak finish to last week and disappointing GDP numbers from China. It's set to be a quiet day when it comes to economic data, too: Morning all. #FTSE called flat to small off today. US Holiday so could be a quiet one. — [...]
City jobs market bouncing back January 20, 2014 CITY hiring is booming on the back of the burgeoning recovery, business groups and recruiters said today, indicating the economy is at last getting back to health. More than 10,000 net new finance workers were hired in the final three months of 2013 and an additional 15,000 net will be taken on this quarter as [...]