Record week for equity funds as inflows hit £16.2bn September 23, 2013 Last week saw a record breaking £16.2bn flow into into equity funds. Funds in developed markets experienced the bulk of the inflow posting £15.4bn while funds in developing nations saw an inflow of £1bn, according to data from EPFR Global. The inflows were the largest ever recorded in the EPFR data set. The move into [...]
Post-secondary vocational courses aren’t meeting demand September 23, 2013 Vocational post-secondary courses are not meeting potential demand, says report reviewing vocational education training and England. (Release) The report, published by the international Organisation for Economic Co-operation and Development (OECD), says that vocational provision in England at post-secondary level is low in comparison with many other countries. Moreover, employer engagement in the development of qualifications [...]
Hands on with Tesco’s £119 Hudl tablet September 23, 2013 (City A.M./Oliver Smith) Here's Tesco's new Hudl tablet, avaible from Monday in the four colours you see above. (black, blue, red and purple). Analysts had been predicting a £99 price tag, so it's a little steeper than we'd thought at £119. For those participating in Tesco's loyalty scheme – Clubcard Boost – some customers will [...]
Aberdeen Asset Management leads FTSE on strong new business numbers September 23, 2013 Aberdeen Asset Management is up over 2.4 per cent in early trading on its interim management statement, released this morning (release). The group saw gross new business of £7bn in the last two months, while assets under management continued their fall. While Aberdeen managed £212.3bn of assets on 31 March, that dropped to £209.6bn by [...]
Eurozone growth stabilises hitting June 2011 highs September 23, 2013 Eurozone data shows that services and manufacturing sectors are both still in expansion in September. Markit's composite purchasing managers' index is up from 51.5 to 52.1. Analysts had been expecting a rise to 51.9. By sector, there's a jump for services from 50.7 to 52.1 (51.1 expected) and a fall for manufacturing from 51.4 to [...]
German manufacturing and services sectors both see growth in September September 23, 2013 Analysts had been expecting an improvement in German data across both the manufacturing and service sectors, and we didn't get it. The service sector purchasing managers' index rose from 52.8 to 54.4, economists had estimated a jump to 53.1. But in manufacturing, we've seen a purchasing managers' index number of 51.3, from 51.8. That's against [...]
Irn-bru manufacturer profits dented as aborted merger costs AG Barr £4.9m September 23, 2013 With Britvic walking away from merger talks with fellow soft-drinks manufacturer in July, the Scottish firm AG Barr has had to deal with legal costs of some £4.9m relating to the failed deal (release). During the year to 26 January 2013, A.G. BARR p.l.c. and Britvic plc worked together on a proposed all-share merger which [...]
Centrica project terminations cost company £240m September 23, 2013 Utilities company Centrica has announced its decision not to proceed with two gas storage projects in Yorkshire and the North sea, costing the company £240m. (Release) Its new-build gas storage project at Baird in the UK Southern North Sea has been terminated, whilst its £1.4bn project at Caythorpe in East Yorkshire has been put on [...]
French service sector returns to growth in September September 23, 2013 Some mixed data for the French economy this morning, as the situation improves in the services sector while the pace of contraction in manufacturing increases. According to preliminary data from Markit, the service sector purchasing managers' index grew from 48.9 to 50.7 in September. That exceeds predictions of a rise to 49.3, and the break-even [...]
Before the open: Markets mixed following German elections and Bullard on taper September 23, 2013 Despite Angela Merkel's win in the German elections, European markets look set to open mixed this morning, following James Bullard's Friday comments on the Fed's decision not to taper. Share markets seen drifting, mainly lower, as #Merkel works to form new German government. Financial bookies: FTSE 100 -15, DAX +7, CAC40 -8 — Peter Hoskins [...]