Violence spreads in east Ukraine April 15, 2014 THE UKRAINIAN government deployed forces in the east of the country yesterday, as Russian Prime Minister Dmitry Medvedev warned that Ukraine is on the brink of a civil war. Government forces moved into the cities of Kramatorsk and Slovyansk, both scenes of violent clashes over the last few days. At the airport in Kramatorsk, Ukrainian [...]
Passengers paying for more of the railway’s running expenses April 15, 2014 PASSENGERS are now paying for almost 60 per cent of the running costs of Britain’s railways, as the government cuts its share of the bill and more Brits take the train. Tickets generated £7.7bn across the rail network in 2012-13, up 3.6 per cent in real terms, the industry watchdog said today. The state cut [...]
London’s house prices up 17 per cent in one year April 15, 2014 LONDON’S hyperactive housing market is sending prices surging up, rising at more than three times the pace of the rest of the UK during the year to February. Yesterday, the Office for National Statistics (ONS) announced that house prices in the capital have risen by 17.7 per cent in the year to February, in comparison [...]
Inflation is a nasty stealth tax. We should celebrate its defeat April 15, 2014 INFLATION, as Milton Friedman used to argue, is a form of taxation without legislation. Wealth is taken from some people – for example, holders of cash – and given to others – such as those with large debts. The process is stealthy, opaque, unpredictable and undemocratic, badly understood by citizens, and one of many reasons [...]
End of wage squeeze on horizon as inflation falls to 2009 levels April 15, 2014 CONSUMER prices are now rising at the slowest pace in four and a half years, a dramatic turnaround which could end the pressure on family incomes from years of above-target inflation. Official figures released yesterday show that the consumer price index (CPI) rose by only 1.6 per cent in the year to March, the lowest [...]
What the other papers say this morning – 16 April 2014 April 15, 2014 FINANCIAL TIMES Market troubles dent Moelis flotation Boutique investment bank Moelis raised $163m from its US initial public offering after last-minute investor concerns forced it to shrink the size of its share sale and cut the price of the deal below its expected range. The IPO is the latest to come under pressure on the [...]
EU passes barrage of banking regulation April 15, 2014 EUROPE’S banking union was voted through by MEPs yesterday after two years of work on the plan to break the link between banks and their government’s finances. The rules include a system of bail-in rules that aim to make investors pay for banks’ losses rather than the taxpayer. And banks will have to create plans [...]
Regulators approve crackdown on high-frequency trading April 15, 2014 HIGH frequency traders (HFT) will have to stop work when regulators deem markets too volatile, under rules voted through by the European Parliament yesterday. Regulators argue the algorithmic traders promote instability in markets and damage other investors. The sector maintains it is an important source of liquidity and that the traders help markets find prices. HFTs [...]
Extra reporting requirements imposed on non-financial firms April 15, 2014 EUROPEAN firms will have to publish updates on areas as varied as their environmental impact, gender diversity and corporate social responsibility programmes under rules approved yesterday. The rules are a departure from the traditional reports that focused on business performance and finance. The UK government said it is vital the rules do not bring in too [...]
Co-op chair Lidbetter to fast track Lord Myners’ reforms April 15, 2014 THREE Co-op Group directors are working on implementing Lord Myners’ reforms as fast as possible, City A.M. understands, hitting back at the non-execs who have campaigned against the changes. Group chair Ursula Lidbetter has publicly backed Myners’ bid to streamline the ungainly democratic structure. But others, led by Midcounties Co-operative boss Ben Reid, have opposed [...]
