New York Report: Bernanke pulls Wall St lower with dim view October 30, 2013 US STOCKS fell yesterday, with the S&P 500 snapping a four-day streak of gains after the Federal Reserve said it had a weaker growth outlook for the economy, even as it held steady with its stimulus programme for the time being. Trading was volatile following the release of the statement, with the major US stock [...]
The end of the rental shop October 30, 2013 As Blockbuster goes into administration again, Alex Dymoke looks to the future of online TV and film rentals BLINKBOX WHAT IS IT? Founded in 2006, Blinkbox is now owned by Tesco. It allows you to rent or buy films and TV shows online, which expire after 30 days. WHAT’S ON IT? The latest film and [...]
Royal Mail strike called off October 30, 2013 A Royal Mail worker strike planned for Monday has been called off by the Communication Workers Union (CWU). Progress was made following talks between the union and the company. There have been warnings of Royal Mail strikes all the way up to Christmas. Staff had already been offered an 8.6 per cent pay rise over [...]
Owner of AA on hunt for new boss to replace Strong October 30, 2013 The AA is searching for a new boss, calling into question the future of Andrew Strong, its long-serving chief executive officer, reports Sky News' Mark Kleinman. Sky News understands that the owner of the AA, Acromas Holdings, has approached several leading businessmen about the role of chief executive and taking over in the new year. [...]
Energy bills cut by £131 through collective switching October 30, 2013 More than 21,000 people saved an average of £131 on their electricity bills, according to a report released today by the Department of Energy and Climate Change. Consumers used collective switching – where they organise together to negotiate with their electricity providers, usually facilitated by a third party. The report, "Helping Consumers Switch: Collective Switching [...]
Mild weather drives inflation fall in Germany October 30, 2013 Germany's consumer price index has missed expectations in October, coming in at -0.2 per cent, after expectations it would remain unchanged at 0.0 per cent. Year-on-year, the index rose 1.2 per cent, again missing expectations of a 1.4 per cent increase. Berenberg's Christian Schulz says that relatively mild weather at the start of the heating [...]
Banking risks too great to relax capital controls in Cyprus October 30, 2013 The Cypriot banking sector is too fragile to fully relax capital controls, according to London-based consultancy Capital Economics. The Cypriot finance ministry has been gradually relaxing capital controls and hopes to remove almost all by 2014. However the restriction on deposits leaving the country remains in place. Cyprus' economy is still mired in recession however [...]
Sponsored tube stations could fund free 4G, lifts, TV screens and underground toilets October 30, 2013 Sponsorship of the Oyster system and other sponsorship opportunities could allow Transport for London (TfL) to actively improve stations – introducing free wireless and 4G connectivity, TV screens, lifts, and even toilets for passengers. The report “Sealing the Deal: TfL sponsorship feasibility study” by Gareth Bacon of GLA Conservatives says that there is a potential [...]
US inflation soft as consumer price index climbs in line with expectations October 30, 2013 The US consumer price index for September met expectations, increasing 0.2 per cent, following August's 0.1 per cent rise. Excluding food and energy, though, prices went up by only 0.1 per cent for the month – the same increase as in August and below the consensus prediction of a 0.2 per cent rise. All the [...]
US sees number of private sector jobs created at its lowest since April October 30, 2013 ADP employment change, a measure of private sector employment, has missed expectations in October, with the private sector creating 130,000 jobs in the month – a sixth-month low. Analysts had expected a rise of 150,000. Last month's number was 145,000 (revised down from 166,000). Small businesses created 37,000 jobs, whilst medium businesses (50-499 employees) [...]