FTSE opens flat ahead of Jackson Hole speech August 31, 2012 The blue chip index opened modestly up this morning, as investors were cautious ahead of Fed chairman Ben Bernanke’s Jackson Hole speech later, where he is expected to signal more stimulus for the US economy. Rental equipment supplier Lavendon Group led the risers, up more than nine per cent in early deals. Investors were buoyed [...]
Samsung triumphs over Apple in Japan patent case August 31, 2012 A Tokyo court ruled today that Samsung’s mobile devices did not violate an Apple patent involved in synching mobile devices and computers, awarding the South Korean maker a victory a week after it lost a bruising landmark patent case in the United States. In rejecting Apple’s suit, Tokyo District Court Judge Tamotsu Shoji said Samsung’s [...]
Independent news profits tumble August 31, 2012 Publishing group Independent News & Media posted a 26 per cent year on year fall in operating profit in the first six months of the year that saw changes to the ownership of the company and senior executives resign. Telecoms billionaire Denis O’Brien tightened his grip on INM earlier this year by increasing his stake [...]
Bernanke may hint at more stimulus at Jackson Hole August 31, 2012 Federal Reserve Chairman Ben Bernanke will likely acknowledge the US central bank is actively considering another round of monetary easing in his keynote Jackson Hole speech today. But the Fed chief could disappoint fidgety financial markets if he stops short of signalling another bond-buying program is imminent, which many analysts say is a strong possibility. [...]
Businesses urge government action to boost shrinking economy August 31, 2012 Britain’s government must take bold steps to boost investment, and the Bank of England should drop its resistance to buying company loans in order to get the economy out of recession, the country’s largest business lobby said on Friday. The call by the British Chambers of Commerce (BCC) for sweeping, potentially debt-financed measures to boost [...]
House prices show biggest monthly rise since 2010 August 31, 2012 British house prices showed their strongest monthly rise in more than two-and-a-half years this month, mortgage lender Nationwide said today, in contrast to a generally weak picture for the country’s property market and broader economy. Nationwide said house prices rose by 1.3 per cent in August after falling a downwardly revised 0.8 per cent in [...]
Jenkins vows to mend Barclays August 30, 2012 ANTONY Jenkins yesterday pledged to restore Barclays’ tarnished reputation by taking the lead in reforming the industry, insisting he will wholeheartedly take part in schemes to boost lending and will seek to implement the new ring-fence well ahead of official deadlines. Jenkins has taken over from shamed chief executive Bob Diamond who resigned at the [...]
Key growth forecasts for UK slashed August 30, 2012 THE UK will remained mired in a double dip recession for most of 2012, before a sluggish recovery through 2013, according to reports from two prominent business groups. The British Chambers of Commerce (BCC) this morning slashed growth forecasts for this year and the next, just a day after the Confederation of British Industry (CBI) [...]
Jenkins gets City backing as seasoned professional August 30, 2012 BARCLAYS is in for a sharp change of culture, despite the promotion of a leading insider to the top job, analysts said yesterday. Antony Jenkins joined the bank more than 30 years ago, with an interval at Citi, and as such could be open to criticism as Barclays faces calls to change its culture radically. [...]
Only smarter policy can improve these monstrous numbers August 30, 2012 THE confirmation by Sir Martin Sorrell that WPP will bring its headquarters back to the UK is a cheering signal that the right policy really can bring rapid returns. Royal assent to the Finance Act 2012 was granted on 17 July, so changes to the controlled foreign companies regime, which governs the taxation of overseas [...]
