Japan market hits seven-year high on back of Bank stimulus November 4, 2014 Japanese shares yesterday jumped to a seven-year high after last week’s surprise stimulus move by the country’s central bank. In a rally that started last Friday, the Nikkei 225 index closed up 2.7 per cent at 16,862.47 after being shut for a holiday on Monday. The rally was not interrupted by a fall in Japan’s [...]
Deloitte loses RBS audit job November 3, 2014 THE ROYAL Bank of Scotland (RBS) announced yesterday it would look to appoint Ernst and Young (EY) as auditor from 2016, potentially breaking its 14 year relationship with current auditors Deloitte. Deloitte, who have been the firms auditor since 2000 will continue in the role and undertake audit for the rest of 2014 as well [...]
Swiss banker not guilty in US November 3, 2014 RAOUL Weil, a former top banker who headed global wealth management at UBS was found not guilty yesterday in a South Florida federal court of conspiracy to defraud the Internal Revenue Service. Weil, the highest-ranking Swiss banker to stand trial in the United States, was accused of conspiring to help wealthy Americans hide $20bn (£12.5bn) [...]
UK factories see growth despite euro stagnation November 3, 2014 The UK economy showed continued signs of improvement in October, quelling fears that a lack of growth in the Eurozone would have a significant impact on the recovery. The UK manufacturing purchasing managers’ index – a survey of private sector companies – rose to 53.2 in October, up from 51.5 in September, according to figures released [...]
Intu Properties readies £350m bond issuance November 3, 2014 SHOPPING centre owner Intu Properties reported rising footfalls in its interim management statement released yesterday as the firm prepares to issue a £350m bond. For the period between 1 July and 3 November, Intu Properties agreed 71 long-term leases worth £13m in annual rent. This brings the total for the year to date to 169 [...]
Office building supports boom in construction November 3, 2014 CONSTRUCTION activity is making a sustained recovery with the commercial sector providing a boost, new data released today shows. The Glenigan index, produced by construction analysts Glenigan, was four per cent higher for November than it was a year ago. The figure is up from three per cent in October and marks 17 consecutive months [...]
Businesses expect UK energy infrastructure to worsen as political uncertainty discourages investment November 3, 2014 British businesses see politicians as more of a hindrance than a help when it comes to improving the UK’s infrastructure, with the vast majority wanting power to be transferred to an independent commission. Two separate surveys published this morning show business leaders slamming Westminster over the state of Britain’s transport and energy capacities. A poll [...]
UK business confidence hit by general election and Eurozone worry November 3, 2014 Uncertainty surrounding the outcome of the general election, the threat of a skills shortage, and a weak Eurozone has hit UK business confidence – but it is still high by historic standards. A confidence index produced by the Institute of Chartered Accountants in England and Wales (ICAEW) fell to 28.6 for the fourth quarter of [...]
Skills shortages boost jobs: Demand for professional talent soars after year of strong growth November 3, 2014 The jobs market for professional workers is booming on the back of a strong year of economic growth in the UK. Professional recruitment firms now have 41 per cent more vacancies on their books than this time last year, reveals survey data released today by the Association of Professional Staffing Companies (APSCo). The latest research [...]
Survey shows dip in risk level for small firms November 3, 2014 BRITAIN’S small and medium enterprises (SMEs) are feeling more confident about the risks they face, despite the fact that financial difficulties still remain for many. The Zurich SME risk index, which measures the perceived level of business risk faced by SMEs, fell to 39.92 points in the third quarter of the year from 42.17 in [...]