London Report: China trade data surprise breaks FTSE’s losing run August 8, 2013 THE FTSE 100 benchmark equity index broke a four-day losing streak yesterday as forecast-beating trade data from China, the world’s biggest metals consumer, lifted mining stocks. China’s exports and imports both rose more than expected in July, in a tentative sign of economic recovery. The basic materials sector added 12 points to Britain’s FTSE 100, [...]
New York Report: Microsoft’s rise helps lead US shares higher August 8, 2013 US stocks advanced yesterday, snapping a three-day losing skid as a rally in Microsoft helped lift the technology sector. The three major US stock indexes all managed to shake off early losses as Microsoft shares climbed. The stock closed up 2.6 per cent at $32.89 in heavy volume. The S&P information technology sector index rose [...]
Any Other Business – 09/08 August 8, 2013 ■ You either love it, or hate it. And it seems that viewers of veggie spread Marmite’s new advert are in the latter camp after 278 complaints were made about it to the Advertising Standards Authority. The offending television clip showed jars of Marmite being rescued from neglectful homes. Readers will be pleased to know [...]
Tesla share price up over 420 per cent in one year August 8, 2013 Shares in Californian motor company Tesla rose over 14 per cent this afternoon to over 153 cents (around 99p) after the company reported forecast-beating second quarter results. This latest increase means share prices in the company are up over 420 per cent in just one year. Tesla said its second quarter revenue was $405m, with [...]
Champagne production expected to jump this year but Bordeaux has less to celebrate August 8, 2013 Champagne production is expected to increase by 56 per cent this year compared to 2012 – some 16 per cent higher than the average yield over the past five years. However, the French agriculture ministry has cut its overall wine production forecast to 11 per cent growth this year following a particularly poor harvest in [...]
Serious Fraud Office launches investigation into data loss August 8, 2013 The Serious Fraud Office (SFO) has launched an investigation into the loss of a large amount of data relating to an investigation into defence contractor BAE Systems. The data loss occurred when the SFO mistakenly sent 32,000 document pages, 81 audio tapes and electronic media from a probe into BAE to the wrong person. The [...]
UK government sees increase in fuel poverty this year August 8, 2013 Source: DECC The Department of Energy and Climate Change (DECC) has said it expects the number of households in fuel poverty will "increase marginally" over the course of this year. Until July 2013, any household spending more than ten per cent of its income on gas and electricity was defined as being fuel poor. The [...]
Fannie Mae hands $10bn profits straight to government August 8, 2013 Fannie Mae, the US government-backed mortgage financier, will have to pay the Treasury Department $10.2bn (£6.6bn) after a sharp rise in home prices pushed second quarter net income up to $10.1bn. This latest payment in the form of dividend on the preferred stock held by the Treasury, will bring total dividend payouts to the government [...]
Serious Fraud Office accidentally sends data from BAE probe to wrong person August 8, 2013 The Serious Fraud Office has mistakenly sent 32,000 document pages, 81 audio tapes and electronic media from a probe into BAE Systems to the wrong person. Around 98 per cent of the material has been recovered and the SFO said it is attempting to recover the remaining material not already destroyed by the recipient. The [...]
US initial jobless claims impress again August 8, 2013 US initial jobless claims increased by less than expected in the week ending 3 August, to 333,000 from an upwardly revised 328,000. Analysts had expected an increase to 336,000 (release). However, continuing jobless claims in the week ending 27 July were higher than expected – at 3.018m rather than the 2.950m expected – and up [...]