Mo partners, mo problems: A quarter of law firm partners take more money out than they make in profits February 8, 2016 The proportion of law firms whose partners are taking out more money out than they earn has risen, a new study has found. The Law Society's Financial Benchmarking Survey found the number of firms where partners' salaries exceeded income rose to a quarter, from a fifth last year And Robert Banner, chair of the Law Society's law [...]
Deutsche Bank seeks to quell investor fears as it assures it can make debt repayments due in April February 8, 2016 Deutsche Bank moved to calm investors this evening, after it said it will have no problem making bond payments due in April. The bank, whose shares fell 9.5 per cent to €13.82 during trading in Frankfurt today, said its payment capacity was approximately €1bn, which it said was "sufficient to pay additional tier one (AT1) coupons of approximately €350m [...]
The Vix volatility index is spiking again as turmoil hits global equities markets February 8, 2016 The Vix – everyone's favourite measure of global market volatility – was up 17.3 per cent at 27.42 points in mid-afternoon trading in the US. The Vix has spiked several times in recent months as turbulence took hold of global markets. In January, it rose as high as 31.36 during intraday trading, while during so-called Black Monday in [...]
US tech stocks Twitter, Facebook, Etsy, Groupon and Salesforce share prices fall, dragging Nasdaq to its lowest in 18 months February 8, 2016 Global market turmoil has hit tech stocks, with investor favourites Facebook, Twitter and Salesforce combining to drag the Nasdaq index to its lowest level since July 2014. In early afternoon trading in New York, Facebook was 5.5 per cent lower, at $98.33, while Salesforce was 8.5 per cent lower, at $53.53. That dragged the Nasdaq down 2.9 [...]
Brace yourselves: Deutsche Bank share price suffers as European markets including FTSE 100, Dax and Cac dive on fears of a downturn February 8, 2016 Deutsche Bank shares finished the day 9.5 per cent lower in Frankfurt at €13.82 as European markets spent the day in a steady decline – with analysts warning of downturn fears. Deutsche, which last week issued a profit warning, was pushed lower on a rise in credit default swap spreads, CMC markets analyst Jasper Lawler said. Read [...]
Rush hour chaos for London commuters as Storm Imogen as high winds close Charing Cross and cause delays at Victoria station, London Bridge station, Waterloo East station and Cannon Street station February 8, 2016 Londoners were facing misery on their evening commute as high winds from Storm Imogen caused delays across the London travel network. Southeastern Rail warned that although Charing Cross and Waterloo East stations had reopened after lines were blocked earlier, there were still delays and disruption to services. It also urged commuters using Cannon Street to allow extra [...]
Chesapeake Energy: Share price of world’s second-largest natural gas producer halted as it says there are no plans to pursue bankruptcy February 8, 2016 Shares in Chesapeake Energy, the world's second-largest natural gas producer, were halted in early trading in New York, after more than half their value was wiped off – but the company said it had no plans to pursue bankruptcy proceedings. The fall came after rumours circulated suggesting the company, which is also the US's 12th-largest producer of [...]
Another mammoth tower for London: Developer Aroland Holdings has just submitted plans for 1 Undershaft, the City’s tallest skyscraper February 8, 2016 No sooner has the Cheesegrater completed, but Singaporean developer Aroland Holdings submitted plans for 1 Undershaft – which, at 72 storeys, will be the City's tallest building once it's completed. The building, which will stand between the Cheesegrater and the Gherkin, will include office and retail space, as well as the now-compulsory viewing gallery over the [...]
From the pursuit of happiness to the EU referendum: Here’s what got us talking this week February 5, 2016 It was week in which we discovered people leave taxidermy foxes in black cabs. Facebook turned 12 (and oh, how it's changed…). And The One Where Joey Presents Top Gear suddenly became a possibility… The Seven Weird Habits of Highly Successful People (including Bill Gates) 1. Everyone started thinking about happiness First, a study showed [...]
FTSE 100 ends the week lower as European markets are hit by weak US jobs data February 5, 2016 After another tumultuous week on the markets, the FTSE 100 it 0.86 per cent lower, at 5,848 points, after weak US jobs data weighed on global markets. Other European markets followed suit, with the Cac falling 0.6 per cent to 4,200 points, while the Dax dipped 1.1 per cent to 9,286 points. The biggest fallers included [...]
