Yellen: Low rates to stay as labour market still unsatisfactory May 7, 2014 Janet Yellen has today defended the US’s central bank’s accommodative policy, saying it still remains warranted – it’s not rushing to raise interest rates. Giving her testimony to Congress, this is Yellen’s first opportunity to speak following April’s improved jobs figures. Dismissing concerns over growth stangation in the first quarter – which, she said, were [...]
Boris slams transactions tax as a threat to the City April 30, 2014 A NEW tax on financial transactions (FTT) will drive business out of London, Boris Johnson warned yesterday, as the European Court of Justice kicked out a British challenge to the tax. Countries like France and Germany want to tax each trade of shares issued in their countries, wherever in the world they are traded. Bonds and derivatives [...]
Mind the snap: Boris poses for a strike selfie April 29, 2014 NEVER one abandon to his people to a morning of queueing at bus stops and squeezing, sardine-like, into Tube stations alone, Boris Johnson trooped down to London Bridge yesterday to support strike-stricken commuters. He was happy to pose for a selfie with a passer-by but deftly maintained a half-grimace to show his displeasure at the [...]
A revue of reviews – everything you could ever want to read about Piketty’s Capital April 28, 2014 You may not have read French Economist Thomas Piketty's near-700 page long Capital in the Twenty-First Century, but there's no need to worry – neither have some of the people who've reviewed it. Below are some of the biggest reviews of the work so far, ranging from praise to scorn, and with a wide range [...]
Draghi hints at publishing euro bank’s minutes April 24, 2014 EUROPEAN Central Bank (ECB) chief Mario Draghi hinted yesterday that the Eurozone’s interest rate setters could start to publish minutes of their policy meetings, following the standard practice of other major central banks. Speaking in the Netherlands, Draghi said: “The publication of a richer account of our monetary policy deliberations represents a logical next step [...]
Branson’s airline narrows its losses April 24, 2014 VIRGIN Atlantic expects the benefits of its cost-cutting plan and a tie-up with US carrier Delta Air Lines to help it back to profit by the end of this year. Virgin, which is in the middle of a two-year turnaround plan under new boss Craig Kreeger, halved its group pre-tax loss of £51m last year. [...]
ECB’s Draghi suggests minutes are a “logical next step” April 24, 2014 The European Central Bank's President is pushing efforts at greater clarity. Mario Draghi has said that "the publication of a richer account of our monetary policy deliberations", otherwise known as minutes, now "represents a logcal next step". The central banking chief thinks that publication would "provide a more detailed explanation of the reasoning" behind ECB [...]
Sports Direct criticises investors for rejecting Mike Ashley bonus April 23, 2014 SPORTS Direct yesterday hit out at shareholders for failing to back a bonus share scheme that would have awarded its founder Mike Ashley a £70m windfall, as it posted a rise in fourth quarter sales. The sportswear giant’s board was forced to cancel the plan earlier this month after failing to win enough investor support. [...]
Farage predicts a political earthquake April 22, 2014 Ukip’s leader Nigel Farage is predicting a political “earthquake” if his party does well in the European elections next month. Speaking at the launch of his party’s campaign in Sheffield yesterday, Farage said: “If Ukip win these elections, a referendum and an opportunity for us to get back control of our country will be one [...]
Asian markets rise as Yellen reaffirms commitment to low rates April 17, 2014 Asian markets have seen minor gains after the US posted better than expected industrial production figures, and the chair of the Federal Reserve Janet Yellen reaffirmed the Fed's commitment to supporting the recovery. Investors were reassured by Yellen's remarks to the Economic Club of New York that the US would "likely require low real interest [...]