Institute of Directors criticises government for failing to expand EU single market July 22, 2013 The Institute of Directors (IoD) has commented on today’s government audit on the balance of competences between the UK and the EU, covering areas including taxation, foreign policy and health. Simon Walker, director general of the IoD, said: The Government has a golden opportunity to urge extending the Single Market to services. The biggest failing [...]
Goldman cuts US growth forecast AGAIN – it’s now less than half what it was two weeks ago July 22, 2013 Goldman Sachs has cut its second quarter US GDP estimate again after home sales fell in June for the first time this year. The bank now forecasts 0.7 per cent growth in the second quarter, revised down from 0.8 per cent. This is the fourth revision to US output estimates in less than two weeks, [...]
Telefonica confirms it is in talks over major German telecoms merger July 22, 2013 Telefonica Deutschland has confirmed it is in talks with Dutch telecoms company KPN to purchase German mobile operator E-Plus, although transactions are still being negotiated, according to a reporter for the Financial Times. BN 07/22 16:17 *TELEFÓNICA DEUTSCHLAND CONFIRMS TALKS POSSIBLE PURCHASE E-PLUS — Anousha (@anoushasakoui) July 22, 2013 Telefonica had already said it was [...]
Why silver will underperform next to gold over the next two years July 22, 2013 Despite the recent price spike of both gold and silver, silver will continue to underperform gold given its greater susceptibility to industrial volatility and reduced household demand, according to a note from Capital Economics. This goes against what a number of other analysts have been arguing. The price of silver was up over five per [...]
Former bank of England governor introduced to Lords as Baron King of Lothbury July 22, 2013 Former governor of the Bank of England Sir Mervyn King was introduced to the House of Lords today as a non-party political peer under the title Baron King of Lothbury. Sir Mervyn King goes into the phone box and comes out Lord King, arriving today at the House of Lords: pic.twitter.com/pKfxh8NPN0 — Sam Coates Times [...]
UK government: EU membership in our interest but other diplomatic avenues should be explored July 22, 2013 A UK government audit of EU powers in the realm of foreign policy has argued it is strongly in the country’s interest to retain membership of the union. The key benefits cited included: Increased impact from acting in concert with 27 other countries; greater influence with non-EU powers, derived from our position as a leading [...]
UK supportive of EU taxation policies but warns against further encroachment on sovereignty July 22, 2013 An audit of the effects of the UK’s EU membership on taxation carried out by the government has found broad support for current tax policies, but reported that these views would be subject to change if the EU attempts to encroach further on the country’s sovereignty. The government consulted Parliament and its committees, businesses, and [...]
McDonald’s revenues miss expectations as European sales remain suppressed July 22, 2013 McDonald’s has reported second quarter revenues of $7.08bn, or $1.38 per share, missing analyst expectations of $1.41 per share (release). Year-on-year, second quarter revenues were up 2.4 per cent, and earnings per share rose by seven per cent. Net profits were up five per cent to $1.40bn. In the US, comparable sales were up one [...]
Portuguese prime minister will reshuffle cabinet further and make Portas right hand man July 22, 2013 Portuguese prime minister Pedro Passos Coelho has reaffirmed his intention to reshuffle the cabinet following assurances from president Anibal Cavaco Silva that early elections would not be called to help him push through the austerity programme. Coelho also confirmed speculation by saying it was his intention that junior coalition partner Paulo Portas would be made [...]
Portuguese prime minister’s commitment to bailout programme sends bond yields plummeting July 22, 2013 Portugese prime minister Pedro Passos Coelho has said the political crisis gripping his country has damaged confidence, and called for political unity. Coelho was referring to the disquiet over austerity policies imposed as a condition for bailout from international lenders, which lead to the dramatic break up of his coalition government earlier this month and [...]