Carney: We won’t hike rates (yet) January 23, 2014 GOVERNOR Mark Carney fought off suggestions that the Bank of England should hike interest rates yesterday, as his flagship scheme for monetary policy came under threat after only six months. There is “no immediate need to increase interest rates,” Carney said last night, speaking on the BBC’s Newsnight programme. The Bank governor also tried to [...]
Argentina in crisis as peso suffers biggest fall since 2002 January 23, 2014 THE ARGENTINE peso crumbled yesterday, plunging at the steepest rate in over a decade. Against the dollar, the peso collapsed by 12.5 per cent, dropping to around $0.126. The currency has not plunged so far in a single day since Argentina defaulted on its debt in early 2002. The dramatic drop comes after the government announced a [...]
Wrong kind of concrete brings Victoria line to a rush hour halt January 23, 2014 THE LONDON Underground’s Victoria line was plunged into disarray yesterday, after a bizarre incident in which a signal room was flooded with wet concrete. Services were completely stalled between Warren Street and Brixton during one of the busiest times of the day, putting nearly half of the line out of action, with severe delays on [...]
Cost of raising a child surges past £227,000 January 23, 2014 THE COST of raising a child and supporting them through university has risen by almost £5,000 over the past year to £227,266, according to figures put together by the Centre for Economics and Business Research (CEBR). The research, commissioned by insurer LV, said a seven per cent surge in the cost of childcare for children [...]
Bring your business back home, PM urges at Davos January 23, 2014 THE PRIME Minister will today promise a pro-business regulatory environment and cheap sources of energy, in a bid to tempt British companies to bring their operations backto the UK. In a speech in Davos this morning, David Cameron will make the case for re-shoring the nation by bringing manufacturing, call centres and head offices back [...]
Mark Carney has been the luckiest of unlucky Bank governors January 23, 2014 BORROWERS, relax; savers, tear your hair out. The Bank of England’s base rates will remain on hold; Mark Carney doesn’t “see an immediate need to change monetary policy.” Carney has been extraordinarily lucky in his misfortune. His flagship policy is in tatters and yet the economy’s strong growth, rising employment and lower inflation means that [...]
Apple boosts screen sizes January 23, 2014 APPLE will release two more iPhone models with larger screens this year in an attempt to boost demand in Asian markets. The two models will have screens of 4.5 and five inches, according to the Wall Street Journal, up from the four inch screens that Apple currently produces. The phones already had their screens enlarged [...]
Labour to push for votes at 16 January 23, 2014 THE LABOUR party will lower the voting age to 16 if they form a government after the next election. Speaking today, shadow justice secretary Sadiq Khan will market the measure as part of Labour’s political reform package to “reconnect with the public”. “Giving 16 and 17 year olds the vote will energise young people, and [...]
Still no new boss for Microsoft January 23, 2014 Microsoft’s profits for the fiscal second quarter beat expectations last night, but the computer giant gave no further indication as to who would replace their outgoing chief executive. Microsoft reported a profit of $6.56bn (£3.94bn), or 78 cents per share, compared with $6.38bn, or 76 cents per share, in the same period one year ago. [...]
Slower growth for Starbucks January 23, 2014 Starbucks reported yesterday that sales at stores in its US-dominated Americas region cooled more than analysts expected in its latest quarter. The world’s biggest coffee chain boosted its 2014 earnings per share forecast to a range of $2.59 (£1.56) to $2.67, from $2.55 to $2.65 before, sending shares up 0.9 per cent to after hours. [...]
