Mixed bag as travel companies release expectations for year September 26, 2013 Whilst Thomas Cook books fewer holidays for the UK, and anticipates political disruption to travel, Tui Travel sees 11 per cent growth and plenty of winter bookings. Travel agent Thomas Cook has seen UK holiday bookings down three per cent on last year, with a capacity reduction of 2.5 per cent. (Release) Summer trading has [...]
LSE sees equity trading rise by five per cent as derivatives drop September 26, 2013 The London Stock Exchange (LSE) has reported UK Equity value trading up five per cent in the five months ending 31st August 2013, as compared to the same period last year (release). Derivatives trading was dramatically down by 31 per cent from last year. Equity capital raised amounted to to £9.3bn with a total [...]
Italian retail sales decline continues – and it’s worse than expected September 26, 2013 Italian retail sales are weak for July, down 0.3 per cent in one month. Analysts had been expecting a contraction of just 0.1 per cent after a 0.2 per cent fall in the month before. Food goods sales fell by 0.1 per cent, with non food goods dropping by 0.3 per cent. Italian retail sales [...]
US government shutdown could cause tapering confusion September 26, 2013 US Federal Reserve calculations over the beginning of tapering – a scaling back of its asset purchases program – could be hampered by fiscal squabbles over the Federal debt ceiling. Fed chairman Ben Bernanke has already referred to the lack of clarity as a hindrance on monetary policy decisions: The extent of restrictive fiscal policies [...]
Ladbrokes shares slump on profit warning September 26, 2013 Betting shop owner Ladbrokes has announced an expected fall for operating profits for their online business in 2013 below current market expectations with a range of £10m to £14m. (Release) Ladbrokes shares fell nine per cent following the announcement. In its interim management statement, the gaming company says that the second half of 2013 has, [...]
Fed’s Lacker warns that forward guidance on rates may depress growth September 26, 2013 The Federal Reserve's Jeffrey Lacker has said that forward guidance may threaten economic growth – as central banks assure markets that rates will stay low, this may itself dampen expectations of future growth. In practice, he says that separating forward guidance on rates from asset purchases has proven difficult. Credibility requires consistency, over time, between [...]
Asda apologises for offensive mental patient Halloween costume September 26, 2013 Supermarket giant Asda has been forced to apologise after selling a "mental patient fancy dress" Halloween costume online. The costume, which included clothing, mock blood, a mask and imitation meat cleaver, has been withdrawn, following horrified reactions on Twitter. We removed the product from our website this afternoon but unfortunately the page may remain visible [...]
Before the Open: Politics continue to mute markets September 26, 2013 US and European markets are expected to open lower again today after political squabbling in the US over raising the debt ceiling. Global markets are suffering from risk-off. US equities saw their 5th straight loss overnight with risk currencies once again following. — RMB Global Markets (@RMB_GM) September 26, 2013 Asian markets closed lower, [...]
Global Britain: Over half of UK company shares owned by foreign investors September 25, 2013 More than half of shares in listed UK firms owned by foreign investors for the first time UK CAPITAL markets are more global than ever, it was revealed yesterday, as official statistics showed that for the first time more than half of shares in British companies are now owned outside the UK. In just a [...]
Labour wipes billions off energy firms as price freeze predicted to cost £6.8bn September 25, 2013 ED MILIBAND yesterday wiped £2bn off the value of leading energy firms, as investors rushed to sell shares in gas and electricity suppliers following the Labour leader’s announcement that he would freeze bills if elected in 2015. British Gas owner Centrica saw £1.1bn wiped off its market value and fellow supplier SSE shed £870m, as [...]