No Eurozone rate cut as Draghi plays down fears of deflation February 6, 2014 THE EUROZONE will not tip into deflation, European Central Bank boss Mario Draghi said yesterday, defying the monetary policy doves who had called for him to cut interest rates again. Inflation in the Eurozone has fallen to 0.7 per cent in the year to January, well below the target of below but near to two per cent. [...]
News Corp’s cost cutting pushes profit up February 6, 2014 NEWS Corp, publisher of the Wall Street Journal, reported a four per cent decline in quarterly revenue to $2.2bn (£1.4bn) on weaker advertising at its newspapers, but cost cuts helped push profit well ahead of analysts forecasts. Shares rose four per cent in after hours trading.
Credit Suisse’s recovery hurt by legal costs February 6, 2014 MORTGAGE and tax litigation costs knocked Credit Suisse’s fourth quarter results, published yesterday, reversing some of its recovery over 2013. Profits came in at SFr267m (£182m) in the three-month period, up two per cent on the same period of 2012. But for the year as a whole profits came in at SFr3.1bn, more than double [...]
London boroughs are home to families that never fly the nest February 6, 2014 AS THE supply of housing fails to keep up with demand, an increasing number of London families are finding themselves sharing homes, often with an older generation of relatives. According to figures from the 2011 census released by the Office for National Statistics (ONS) yesterday, the number of such “concealed families” has risen by 70 per [...]
Property boom pushes house prices far ahead of incomes February 6, 2014 UK INCOMES are failing to keep up with rising prices in the housing market, pushing properties to their most expensive level against earnings since 2008. According to Halifax’s house price index, the price to earnings ratio climbed to 4.74 in January, rising from 4.44 in the same month last year. The ratio is currently at [...]
KKR rides wave in equities to boost earnings February 6, 2014 KKR, the private equity company, gave a record amount of cash back to investors last year after rising markets helped double quarterly profits. The firm, co-founded as Kohlberg, Kravis & Roberts, made a distribution of $1.40 per share to shareholders for the year ending 2013, its highest level ever as a public company. The payout [...]
AstraZeneca’s shares slide due to lost patents February 6, 2014 ASTRAZENECA’S share price dropped almost two per cent yesterday, after the pharmaceuticals giant warned of a decline in revenues this year. The FTSE 100-quoted firm said that 2013’s six per cent fall in revenue to $25.7bn (£15.8bn) was in line with expectations, reflecting the continuing impact of loss of exclusivity on several brands. New heart [...]
Inside Track: Supermarket set to repair Russian reputation in London February 6, 2014 THERE’S been many a well-known company, from the likes of retailer Harvey Nichols to the property website Zoopla or even the restaurant website Just Eat, tipped to float on the reviving London new issues market, but it looks likely one of the first companies to make it across the line will be Lenta, which is [...]
Analyst Views: What did you make of Astrazeneca’s results yesterday? February 6, 2014 MICK COOPER | EDISON INVESTMENT RESEARCH AstraZeneca’s results are dominated by the expected generic erosion, but changes implemented by Pascal Soriot are starting to come through. Notably, [asthma drug] Symbicort has performed well in the US and there are signs that [new heart drug] Brilinta could fulfil its promise. SAVVAS NEOPHYTOU | PANMURE GORDON AstraZeneca’s [...]
Vodafone eyes UK broadband and TV markets February 6, 2014 VODAFONE is considering a move into the UK broadband and television market, its chief executive confirmed yesterday, while its UK mobile revenue declined for the seventh consecutive quarter. When asked about Pay-TV chief executive Vittorio Colao said: “We are watching the space. Today, there’s not an urgent need to be there. It could be different [...]
