Kazakhstan to issue $10bn in bonds as it returns to market after 15 years September 25, 2014 Fancy owning a piece of Kazakhstan – or more specifically, its debt? Well the country is about to make its long-awaited return to the international bond market, and it's doing it through a London listing. According to an announcement made this lunchtime, the Republic of Kazakhstan has received approval for its issue of $10bn [...]
What is a put option and how is Mike Ashley using it to bet on Tesco? September 25, 2014 Mike Ashley's Sports Direct has taken a punt on Tesco by entering into a put option agreement with Goldman Sachs. But what exactly is a put option and how is he using it to make money? In short, Sports Direct is selling the option to Goldman, meaning that if the share price goes up, [...]
Euro drops to 22-month low against the dollar September 25, 2014 The euro has fallen to the lowest level against the dollar in 22 months, following hints by ECB President Mario Draghi that more policy involvement may be needed to boost the Eurozone. The common currency had fallen to $1.273, taking it to the levels last seen in 2012. Draghi was quoted in a [...]
Amazon share price falls as authors plot US Department of Justice approach over Hachette dispute September 24, 2014 Amazon's share price fell in early trading today, after it emerged that a group of more than 1,000 authors were poised to take the standoff with publisher Hachette to the US Department of Justice. Shares at the internet giant were down 0.7 per cent in mid-morning trading in New York. Writers including Malcolm [...]
Will anyone in the City observe national Go Home on Time Day? September 24, 2014 If you're planning on pulling a late one tonight, you might want to think again – because today is national Go Home On Time Day. No, we'd never heard of it either, which is strange because it's been happening since 2000. That suggests it's not necessarily succeeding – at least in certain sectors [...]
Property fraudster Achilleas Kallakis “must pay £3.25m” or face more prison time over Allied Irish Bank and Bank of Scotland fraud September 24, 2014 A man convicted of perpetrating fraud totalling more than £760m has been ordered to pay back just £3.25m within six months or face seven years in prison. Last January Achilleas Kallakis and his partner Alexander Williams were found guilty of defrauding the Allied Irish Bank and the Bank of Scotland out of a series [...]
Labour Party Conference: Watch Ed Balls dance to Gangnam Style September 23, 2014 Ed Balls really likes to blow off steam at the Labour Party conference. Not content with shedding the blood of Northern Echo journalist Paul Merrick at the annual pre-conference charity football match over the weekend, now the shadow chancellor has been filmed getting down on the dancefloor – though this time around he's arguably [...]
Labour Party Conference: Critics slam Miliband’s mansion tax plans September 23, 2014 Ed Miliband today confirmed Labour's plans to introduce a "mansion tax" on homes worth more than £2m – but his plans have already met with criticism. Nick Leeming, chairman of national estate agents Jackson-Stops & Staff, has dubbed it the "Downton Abbey view of politics" claiming it is "distorting" the view of who owns homes [...]
Mapped: Which Phones 4u stores are being shut down? September 23, 2014 PricewaterhouseCoopers has revealed the addresses of the 360-plus Phones 4u stores that are being shut down, and the number of staff being made redundant as the business is wound down. At this stage 1,679 people will lose their jobs, with a further 720 people staying on to help with the wind down. Some [...]
Whistleblowers should be “rewarded and celebrated”, says HSBC boss September 23, 2014 Whistleblowers at financial services firms should be "rewarded and celebrated", HSBC Group chairman Douglas Flint said at the launch of a campaign encouraging people to speak out against wrongdoing today. Set up by the Chartered Institute of Securities and Investment, Speak Up is designed to encourage the financial services industry to help staff who [...]
