Tel Aviv stock blunder wipes 99.9 per cent off Israel Corp August 26, 2013 THE TEL Aviv Stock Exchange, Israel’s major stock market, stopped trading on Sunday after a typing error caused shares in top listed firm Israel Corporation to crash 99.88 per cent. The mistake, thought to have been caused when a trading clerk accidentally typed in the wrong company to sell shares in, caused the exchange’s top [...]
Recovery dents certainty on UK interest rates August 26, 2013 MARK Carney’s plans to keep interest rates low for another three years took another blow today as new figures showed the UK’s dominant services sector grew at its fastest rate for six years in the three months to August. Service sector business activity is at its highest level since 2007, the Confederation of British Industry [...]
Charlie Bean insists easy money is here to stay for years to come August 26, 2013 TOP BANK of England officials this weekend insisted firms should have the confidence to borrow because rates will stay at rock bottom for years, despite market scepticism. Deputy governor Charlie Bean said he wants to send a “clear signal” rates will not rise in the near future despite the improving economy. “What we’re trying to [...]
Durable goods orders suggest meagre investment from firms August 26, 2013 DURABLE goods orders in the US fell through the floor in July, dropping by 7.3 per cent from June, with transport, computers and electrical equipment all seeing declines. The figures for long-lasting manufactured items announced yesterday were much worse than expected. Analysts had projected a three per cent fall, but the drop was the most [...]
Gove attacks Miliband’s union tendency August 26, 2013 Michael Gove will today use a speech to brand Labour leader Ed Miliband as “uncertain, irresolute, weak” in his dealings with trade unions. The Tory education secretary will insist Labour has sunk back to its “pre-Blair position of living in the unions’ shadow”.
Foxtons’ float to land bosses £100m windfall August 26, 2013 LONDON estate agency Foxtons is poised to make a move onto the London Stock Exchange that could land its senior management team a £100m windfall. The company, which was founded more than 30 years ago in Notting Hill, is expected to announce today its intention to pursue a public flotation that could value the business [...]
Carphone Warehouse completes £650m refinancing with lenders August 26, 2013 MOBILE phone retailer Carphone Warehouse announced today it has signed a huge refinancing deal with its banks, helping to fund the recent £470m buy out of its joint venture partner Best Buy in Europe. The London-listed group has sealed two loans worth £650m from its syndicate of lenders, in one of the largest underwritten deals [...]
Revellers delight in Notting Hill Carnival August 26, 2013 HUNDREDS of thousands of people flocked to west London yesterday to enjoy the second day of the Notting Hill Carnival, one of Europe’s biggest street festivals. Now in its 49th year the carnival, which is led by members of the West Indian community, saw hundreds of costumed performers and colourful floats parade through the streets [...]
Microsoft board weighs options for new leader August 26, 2013 APPLE’S co-founder yesterday warned Microsoft against resting on its laurels as the company starts its search for a new chief executive. Steve Wozniak, who joined forces with Steve Jobs to launch Apple’s first personal computers, told the BBC that the company behind Windows had offered customers dated products and “no really great new surprises” in [...]
Bottom Line: Ballmer’s retirement is perfect timing August 26, 2013 There is never a perfect time for this type of transition,” Steve Ballmer said last week when he announced his retirement. But as far as shareholders are concerned now is the perfect time. The fact that the shares went up over seven per cent last Friday is evidence of that. The firm, which Ballmer has [...]