What you need to know before the open – 21/10 October 21, 2013 With US data restarting this week, it's back to business as usual. A record week for US markets last week, we also saw European counterparts looking positive. *Nikkei Ends Up 0.9% at 14,693.57 underpinned by a strong performance on Wall Street and expectations Fed will delay trimming its stimulus. — Holger Zschaepitz (@Schuldensuehner) October 21, [...]
JP Morgan fined $13,000,000,000 October 21, 2013 JP Morgan agrees record fine but could still face criminal claims JP MORGAN is facing a record $13bn (£8bn) bill to settle mortgage market claims with US regulators this week – but even the record payment is not expected to be enough to stop criminal cases being brought. The unprecedented payment is expected to cover [...]
Estate agents label price hikes unsustainable October 21, 2013 ASKING prices for London houses have soared again this month and are climbing at an unsustainable rate, according to new figures released today by Rightmove. According to the property site, asking prices climbed by a huge 10.2 per cent between September and October alone. The average asking price for a house in greater London is [...]
Hands’ Terra Firma set for £1bn flotation of Infinis October 21, 2013 TERRA Firma, the private equity firm controlled by seasoned investor Guy Hands, is today expected to lay out plans to float wind power firm Infinis on the London stock exchange, valuing its equity stake at £1bn. Infinis, the country’s biggest independent generator of renewable power, was snapped up by Hands’ group 10 years ago using [...]
Three men to appear in court in Libor case October 21, 2013 FORMER UBS and Citigroup trader Tom Hayes will appear at Southwark Crown Court today to answer charges related to the Libor-rigging scandal. Tom Hayes is expected to enter a plea for eight counts of conspiracy to defraud at Southwark Crown Court, and will appear along with Terry Farr and James Gilmour from RP Martin, who [...]
Pay picking up but UK living costs still high October 21, 2013 BRITON’S incomes edged up for the first time in three months in October as the labour market strengthened, although pay growth still lagged far behind inflation, a survey showed this morning. An index measuring the change in income from employment compared with last month rose to 50.6 from 49.5 in September, just topping the neutral [...]
What the other papers say this morning – 21 October 2013 October 21, 2013 FINANCIAL TIMES Cameron to build on Royal Mail sale David Cameron is planning to build on the huge popularity of the Royal Mail privatisation by prioritising retail investors for the sell-offs ahead of the general election in 2015. Attracting retail investors will be a key aim as the government prepares to complete the sales of [...]
Huge subsidies to kickstart new UK nuclear plant October 20, 2013 A DEAL to build Britain’s first nuclear power station for two decades is expected to be revealed today after a year of negotiations over subsidies to be paid to the operators. French energy firm EDF and the Department for Energy and Climate Change (DECC) will host the unveiling of Hinkley Point C today. EDF’s long-time [...]
Q and A: China’s nuclear fusion with Britain October 20, 2013 Q Why is a French firm teaming up with China to build power plants in Britain? A EDF has wanted to build a third nuclear station at Hinkley Point for years, but has been searching for a new investor after UK-listed Centrica quit in February. China has enough cash to get involved in pretty much [...]
SSE defends energy price rise as Archbishop hits out at Big Six October 20, 2013 ENERGY firm SSE last night defended its decision to raise prices, blaming wholesale prices and government policy for the hike. Its remarks come after the Archbishop of Canterbury squared up to Britain’s energy companies over their plans to up fuel bills this winter. Justin Welby, a former oil trader, said the so-called big six firms [...]