London Report: GDP figures and housing prices reveal recovery October 20, 2013 GROSS domestic product (GDP) figures due on Friday are expected to reveal the UK’s solid recovery prospects, coupled with further good news from Nationwide and Rightmove housing figures earlier in the week. Analysts predict further improvement in the economy, with third quarter GDP expected to rise. “We expect GDP to rise 0.8 per cent quarter-on-quarter. [...]
New York Report: US data clog to clear as report season begins October 20, 2013 A BACKLOG of US data will begin to clear this week with payrolls figures landing just as more than one-quarter of S&P 500 companies report earnings. But equities, at record highs, have already surpassed expectations for the year and could begin to drift sideways. The S&P 500 closed Friday at 1,744.50, an all-time high, making [...]
UK efforts to nurture a tech startup revolution are worryingly trivial October 20, 2013 IF THE government thinks investing in Silicon Roundabout is the best way for the UK to produce the next Facebook or Twitter, it’ll be waiting a long time. As a Brit at the helm of a software company co-headquartered in California and Sheffield, I’m often asked my thoughts on what the UK should do to [...]
As Google shares pass $1,000 analysts says the company remains a top pick October 18, 2013 Shares in internet giant Google have passed the $1,000 mark after unveiling stunning results last night. Google beat expectations with net profits growing by 36 per cent to $2.97bn (£1.2bn) in the three months to 30 September. That number was well ahead of consensus profit forecasts. Those results have seen Google add over $35bn to [...]
Mercedes-Benz speeds onto markets with 30,000 orders October 18, 2013 Daimler has received more than 30,000 orders for its flagship Mercedes-Benz S-Class, in less than three months since the model was launched, said the company today. The roll-out of the luxury car has been the fastest in the company's history. (Release) The new Merc is now available in all of Daimler's key markets – arriving [...]
Cable pens another defence of Royal Mail selloff as shares soar to 500p October 18, 2013 Shares in Royal Mail hit 500p this morning, soaring up 50 per cent since they were initially floated on the stock market last week at 330p. Vince Cable has again defended the pricing of the company, rebutting claims that he cost the taxpayers hundreds of millions of pounds by undervaluing shares, reports Sky News' City [...]
EU and Canada agree free trade deal October 18, 2013 The European Union and Canada have agreed a major free trade deal. The deal comes after four years of negotiation and is the first of its kind between the EU and a G7 country. It is expected to generate £17.42bn through trade and new business. President of the European Commission, Jose Manuel Barroso and Canadian [...]
UK walks away unscathed from US shutdown October 18, 2013 The UK has not been too affected by the US debt debacle, says economic research consultancy Capital Economics. Managing director Roger Bootle commented that, while fourth-quarter US GDP might be "a little sub-par" – meaning that a slowed economy could have affected UK exports – they do expect annualised growth of between 1.5 per cent [...]
An absent US resolution leaves commodities gloomy October 18, 2013 With no enduring resolution to the US debt ceiling debate, commodities will remain in the doldrums, says Goldman Sachs. The investment bank warns that the uncertainty around the debt ceiling is being viewed as an extension of QE, with delays on a tapering decision complicating the Fed's reaction function. It isn't clear whether the absence [...]
EU commission authorises investigation into Holcim-Cemex deal October 18, 2013 The European Commission has authorised anti-trust regulators to investigate the planned acquisition of cement giant Holcim's Spanish operations, by Mexican cement company Cemex. In a press release issued on Friday, the Commission asserted the deal could threaten competition in the Spanish cement market. The Commission will ask Cemex to notify the project. The acquisition of [...]