A DIY investment price war could be on the way January 15, 2014 Imagine if Sainsbury’s or Tesco made you pay to enter their supermarkets and buy their milk and bread, but promised that the milk and bread would be much cheaper than before. That slightly dystopian vision is what occurred to UK money management industry last year, after regulators decided the relationship between suppliers and distributors was [...]
The World Bank’s 3 big fears for 2014 January 15, 2014 The World Bank's latest report on Global Economic Prospects is out today, and while advanced economies are expected to boost global growth in 2014, the authors reveal some worrying downside risks from emerging markets. 1. Rocky road as global interest rates rise The Bank is worried that a “more precipitous adjustment” in rates could “inflict [...]
78 per cent of economists agree that Uber’s price hikes are good for consumers January 15, 2014 A poll of academics has overwhelmingly concluded that using higher prices to allocate transport services is good for consumers. 78 per cent of the IGM Economic Experts Panel agreed with the statement: Using surge pricing to allocate transportation services — such as Uber does with its cars — raises consumer welfare through various potential channels, [...]
2013 Royal Family gift list revealed January 15, 2014 It might not come as too much of a surprise that, for the Royal Family, a gift is not just for Christmas – they receive them all year round. And today, Buckingham Palace has released a list of what was received in 2013. Below are the items the Queen alone received last year. Highlights for [...]
Who will Hollande fly to the White House with? January 15, 2014 Francois Hollande is, in his own words, going through a “difficult time.” There are accusations of an affair with French actress Julie Gayet and his partner Valerie Trierweiler has been in hospital, reportedly with “emotional shock.” Well, if you’ve got an opinion on what the outcome of this debacle might be, [...]
Why Nat Rothschild and Tony Hayward are not celebrating today January 15, 2014 So Nat Rothschild and Tony Hayward won't be raising a glass just yet over Genel Energy. The billionaire financier, former BP chief and other founders were thought to be heading towards a bumper bonus payout, as shares in the Kurdistan-focused oil explorer hit a record high of £11.13 last week. If the shares close higher [...]
Laura Ashley and Moss Bros go their separate ways January 15, 2014 Laura Ashley has said goodbye to Moss Bros, disposing of its entire holding in the suit sellers and raising £8m. The womenswear and home furnishings store started building up its stake in 2008, which sparked talks of a possible takeover, but a bid never came to fruition. Laura Ashley is taking advantage of Moss Bros' [...]
3 arrested in regulator boiler room probe January 15, 2014 The City watchdog the Financial Conduct Authority (FCA) has said this morning that three people have been arrested in connection with its investigation into boiler room activity. The City of London Police implemented search warrants at six addresses in Kent, Essex, and Bedfordshire yesterday morning. The individuals were two men aged 32 and 41, and [...]
Gold price weakness still hurting African Barrick January 15, 2014 2013 wasn't a great year for gold bugs – in fact, it was pretty dire. Tapering in the US and overspending when prices were high meant the yellow metal suffered a 28 per cent decline in price – the largest fall since 1981. The FTSE Gold Miners index fell 55 per cent during the year. [...]
EU moves toward new regulatory crackdown on HFT January 15, 2014 The European Union has agreed to introduce a plethora of new regulations governing high frequency trading (HFT,) commodity speculation and derivatives trading. The measures come shortly after the introduction of a cap on banker bonuses. The revision to the Markets in Financial Instruments Directive (MiFID) is to be implemented by the end of 2016 and [...]