Conversations between forex traders during the height of the scandal make them look like a bunch of teenagers November 12, 2014 Daily av volume turnover was $5tn + in 2013 vs 216bn equities market Traders described themselves as "the players" "A team" 1 team" "the 3 musketeers" " 3 way relationship built on immense trust" "[don't] want other numpty's in mkt to know [about information exchanged within the group], but not only that is [...]
Strong pound hits Burberry profits November 12, 2014 Burberry may be the toast of the fashion pack, but its success abroad has taken its toll. The company, which has been prolific in Asia, has posted adjusted pre-tax profits down 12 per cent £152.3m in the six months to the end of September. Shares in the brand opened just under one per cent lower as [...]
March of the discounters: Sainsbury’s share price rises as it promises £150m price cuts November 12, 2014 Newly-installed Sainsbury's chief executive Mike Coupe has taken the bull by the horns, promising a £150m "investment" in price cuts in order to compete with increasingly powerful discounters such as Aldi and Lidl. Investors were clearly impressed: shares rose four per cent as the market opened. The supermarket posted results showing its worst first-half performance [...]
Another City tower in the offing? Brookfield buys the rest of 100 Bishopsgate November 11, 2014 After things started to look up for The Pinnacle, there may be hope for another long-delayed City tower. Brookfield Multiplex has brought up the remaining stake in the tower it doesn't own from Great Portland Estates, suggesting work on the scheme, which was given planning permission almost a decade ago, might finally go ahead. According [...]
Remembrance Day 2014: This map is a sobering reminder of the toll WW1 took on one London borough November 11, 2014 More than a century after the beginning of the First World War, the UK will remember those who gave their lives with two minutes' silence at 11am. To pay tribute to the fallen, one London borough has mapped the names, addresses, stories – and even the final resting places – of soldiers with connections to [...]
HSBC boss attacks gay City leaders who stay in the closet November 10, 2014 Antonio Simoes, the chief executive of HSBC's UK operation, has criticised gay City leaders who stay in the closet. Speaking at a conference hosted by Deutsche Bank in the City today, Simoes, who spoke openly about his sexuality for the first time in a video message to his employees last year, said business leaders have [...]
Catalan independence vote: Does it mean anything? November 10, 2014 It was dismissed by Spain’s central government as “useless”, but the population of Catalonia nevertheless went to the polls yesterday to vote on whether the region should become independent. Voters were asked two questions: firstly, whether they wanted Catalonia to be a state, and secondly, whether they wanted the state to be independent. [...]
John Lewis, M&S, Debenhams – the best Christmas TV adverts of 2014 November 7, 2014 Alright, so there's still a month and a half until the big day – but settle in, because Christmas ads have begun to grace our screens, and they're going to be around for the next 47 evenings in. You might as well become acquainted. First up, we had the big one: John Lewis' much-awaited Christmas [...]
Dollar falls as US unemployment drops – but not enough November 7, 2014 The dollar wobbled, then fell 0.15 per cent against the pound after the US announced weaker-than-expected jobs growth. Non-farm payroll figures published by the US' Bureau of Labor Statistics today showed the country added 214,000 jobs in September, a drop from September's 256,000 and way below expectations of 235,000. Unemployment fell to 5.8 per cent, [...]
Rouble edges up after falling to historic low against dollar and euro November 7, 2014 The rouble recovered slightly against the dollar in late morning trading, after it dropped to historic lows against both the dollar and the euro. At one point in mid-morning, it took more than 48 roubles to buy a dollar, as investors showed their lack of confidence in the Russian central bank's ability to control its [...]
