Dovish statements from ECB president Mario Draghi send the euro tumbling again November 3, 2015 The euro fell against the pound and the dollar last night, following European Central Bank (ECB) president Mario Draghi reiterating the dovish comments he made in October. Speaking at a cultural event in Frankfurt, Draghi repeated that the ECB would review the degree of monetary stimulus required at the next governing council meeting in December, [...]
TalkTalk cyber attack: Another teenager has been arrested in connection with the alleged data theft November 3, 2015 A 16-year old boy was arrested in Norwich earlier this evening, in connection with the ongoing investigation of alleged data theft from TalkTalk. The telecom firm was thrown into crisis last month after a hacking crisis during which customer data was stolen from its website. Share prices plummeted in the wake of the attack. Police made their [...]
Terry Smith slams investors as Fundsmith posts 18.5 per cent returns over the past year November 3, 2015 Terry Smith’s Fundsmith equity fund celebrated its fifth anniversary yesterday by announcing returns of 18.5 per cent for the full year ending in October, and assets under management of £4.1bn. This brings cumulative returns since the fund was created to 121 per cent, equivalent to annualised returns of 17.2 per cent, outperforming funds in the [...]
Hey big spender! US firms splash out a record $1.8 trillion on M&A as 2015 marks return of the mega-deal November 3, 2015 US companies have spent a record $1.8 trillion on mergers and acquisitions (M&A) this year as they scramble to offload huge cash piles before an expected increase in interest rates. The figures, from Dealogic, include Visa Inc’s $23.4bn (£15bn) purchase of Visa Europe yesterday, the latest in a frenzy of multi-billion dollar mega deals signed off in [...]
Chancellor George Osborne in Berlin to meet German ministers for talks on non-Eurozone states November 2, 2015 Chancellor George Osborne heads to Berlin today, where he is expected to make the case for protecting the interests of non-Eurozone states in crunch talks with German government officials. Osborne, who has made similar trips to Paris, Stockholm, Helsinki and Copenhagen in recent months, is set to meet with German finance minister Wolfgang Schauble and German [...]
Britain ranked as 15th most prosperous country in the world – Legatum Institute November 2, 2015 Britain's economy is soaring past its European counterparts thanks to an employment boom, a major new report says today – but education and health standards are slipping to the bottom of the league table. The Legatum Institute’s annual Prosperity Index, which ranks 142 countries across eight categories using a combination of official statistics and public polling, placed the UK [...]
Bubble bubble housing trouble: London’s property market is scarily close to a crash October 30, 2015 London's housing market is teetering on the brink of a crash after two years of “explosive” growth that has turned it into one of the most overvalued cities in the world, economists at UBS have warned. The news comes as research released today from YourMove and Reeds Rains shows that record numbers of aspiring homeowners believe [...]
Britain needs one million extra construction workers by 2020 to fulfil housebuilding needs October 30, 2015 The UK will need one million extra construction workers by 2020 to fulfil its growing housebuilding requirements, new research has revealed today. There are currently 980,000 people working in the UK’s house building industry, who are set to build 148,000 new homes this year. This will need to grow to 1.98m workers in order to [...]
Consumers growing more positive about personal finance but worried over UK economy October 30, 2015 People are feeling more positive about their personal finances, but more worried about the general UK economy, new research today reveals. The latest UK Consumer Confidence Barometer, conducted by market research giant GfK, surveyed 2,000 individuals on how the financial situation of their household had changed over the past 12 months. The index increased by [...]
London’s cabbies can’t afford to live in the past October 30, 2015 During last year’s Black Cab protest against Uber, one bit of news footage stood out. A cabbie was being interviewed on camera, explaining that Uber’s behaviour was unacceptable and unfair. Behind his seat, attached to the dividing screen between driver and passenger, was a sign that read “cash only”. This pigheaded refusal to join the [...]
