After share price crash Asos warns on profits and investors slam Morrisons June 5, 2014 SOME of Britain’s biggest retailers were left reeling yesterday after a profits warning from Asos spooked investors and supermarket bosses came under a fierce verbal attack from angry shareholders. Asos shares crashed 31 per cent, wiping £1.2bn off its market value, after the online fashion retailer warned that a strong pound and a rise in [...]
Super Mario unleashes box of tricks in bid to soften the euro June 5, 2014 THE EUROPEAN Central Bank (ECB) cut rates again yesterday, pushing one of its main policy tools into negative territory for the first time ever, as president Mario Draghi hinted at even more easing. With the deposit rate cut from zero to minus 0.1 per cent, Eurozone banks effectively must pay the central bank to park [...]
Eurozone will need more than just QE if it is ever to recover June 5, 2014 SHORT of embracing quantitative easing, the European Central Bank has now done everything it can to try to loosen conditions in the Eurozone. But by no stretch of the imagination could yesterday’s actions be deemed radical. If the aim was to prevent the decline of Eurozone inflation, now down to 0.5 per cent, and to [...]
Only QE left on Draghi’s table June 5, 2014 EUROPEAN Central Bank (ECB) president Mario Draghi made it clear yesterday that there would be no further cuts in interest rates, with only full-blown quantitative easing (QE) left as a major option for easing policy. Until now the ECB “sterilised” its Securities Market Program, trying to offset their own purchases of government debt, so that [...]
The ECB’s new interest rate policy – what does it all mean? June 5, 2014 The European Central Bank has taken the bold decision to push the deposit rate from zero to minus 0.1 per cent, essentially meaning that Eurozone banks must pay the central bank to make deposits there. But what does this decision from ECB president Mario Draghi mean for everyone? Funding For Business Lending [...]
What the other papers say this morning – 06 June 2014 June 5, 2014 FINANCIAL TIMES Juncker won’t give in to Cameron A defiant Jean-Claude Juncker has warned Britain that he will not bow to David Cameron’s objections or yield to press coercion in his bid to become European Commission president. The former Luxembourg prime minister told a private gathering of party colleagues that he was seeking a broad [...]
UK’s tech giant avoids growing fears of bubble June 5, 2014 APRIL’S worldwide tech sell-off – which knocked off 3.1 per cent of the Nasdaq index in a single day, its biggest one-day decline since 2011 – was the forerunner to a wider tech stock bubble bursting, an investment bank said yesterday. Berenberg yesterday warned that Samsung’s smartphone growth is peaking, Apple’s success in tablets is [...]
AA speeds up plans for a £4bn London float despite Saga flop June 5, 2014 BRITAIN’S biggest car insurer and roadside recovery firm, the AA, is reportedly set to push on with plans for float that will value the company at around £4bn. The listing will be part of a process known as an accelerated initial public offering by parent company Acromas, which could be announced today according to Sky [...]
Veterans mark 70th D-Day anniversary June 5, 2014 Hundreds of the last surviving D-Day veterans and world leaders, including Queen Elizabeth II, David Cameron, Barack Obama, Vladimir Putin and Francois Hollande have gathered in Normandy to mark the 70th anniversary of the landings. Among the veterans event was Jock Hutton, 89, who repeated the parachute jump he made 70 years ago.
Activist ups its stakes in bid to sue Lloyds Bank June 5, 2014 ACTIVIST investor Crystal Amber will reportedly up its stake in NBNK Investments, the vehicle which lost out during the auction of Lloyds Bank’s 630 branches in 2012, in a move to pursue legal action against the bank. NBNK has lined up law firm Stewarts Law to take legal action against Lloyds, which chose the Co-operative [...]
