Fourth quarter growth set to be boosted by strong factories December 17, 2013 MANUFACTURERS are recording some of the strongest growth on record this quarter, with output rapidly rising as order books are still filling up. According to the Confederation of British Industry (CBI), output has held at the 18-year high recorded last month, with order books at a similar level. The robust figures recorded suggest that British [...]
Libor trio plead not guilty to trying to manipulate the rate December 17, 2013 THE FIRST three men to face trial in connection with a global investigation into Libor-rigging pleaded not guilty at Southwark Crown Court yesterday. Tom Hayes, a former UBS and Citigroup trader, has been charged with eight counts of conspiring with staff from at least 10 major banks and brokerages to manipulate the London Interbank Offered [...]
Europe agrees to new rules on audit switching December 17, 2013 EUROPEAN politicians struck a deal yesterday that paves the way for new rules forcing companies to switch auditors at least once every 24 years. After years of wrangling and stalled talks, MEPs have agreed in principle to vote for the law, which aims to ensure auditors are better able to flag up problems at their [...]
Trader faces ban from financial industry after lying to tribunal December 17, 2013 COFFEE trader David John Hobbs faces a ban from working in financial services after the Court of Appeal yesterday found he lied to a tribunal over claims of market abuse. Hobbs – dubbed the Caffiend – has also been fined £175,000. In 2010 the ex-Mizuho trader was accused by the Financial Services Authority of manipulating the coffee [...]
Muted inflation in the Eurozone remains below Brussels target December 17, 2013 EURO area prices fell by another 0.1 per cent between October and November, as inflation remains well below the European Central Bank’s (ECB) target level. Despite the drop over the month, the Eurozone’s annual rate of consumer price inflation rose slightly, up to 0.9 per cent in the year to last month. In the year [...]
Dixons back in health after a return to profit December 17, 2013 DIXONS’ chief executive said the group was well on its way to a recovery after exiting three troubled European businesses and posting its first underlying interim profit in six years. The recession claimed Comet, Jessops and HMV as casualties last year, with Dixons the last man standing in a sector particularly hit by the squeeze [...]
Brand Index: Never mind the hare and bear – Brits are going budget December 17, 2013 OUR RECENT online focus group of people from the so-called “squeezed middle” revealed that they are not feeling the benefits of the economic recovery and also have virtually no faith in politicians (from any political party) to help improve their lot. This week I will delve into which brands the squeezed middle are warming to this [...]
Analyst Views: Has Dixons successfully strengthened its position in the market? December 17, 2013 KATE CALVERT | INVESTEC Dixons has benefited from consolidation particularly with Comet having gone into administration. But the results also show group progress made from the UK restructuring. It has also made great progress in differentiating itself from other major online players. JOHN CUMMINS | WH IRELAND Interims from Dixons read well and demonstrate both [...]
Video ads could lead Facebook to earn another $1bn next year December 17, 2013 FACEBOOK will embark on what could be its next $1bn (£614m) line of business, according to analysts, with the roll out of video ads across the social network later this week. The company said that the new ads will offer advertisers a way to reach the service’s 1.1bn users with video clips in the news [...]
Huawei’s technology to receive closer scrutiny from government December 17, 2013 THE NATIONAL security adviser published a report yesterday encouraging tighter oversight at the Huawei Cyber Security Evaluation Centre (HCSEC), which tests the Chinese telecoms firm’s equipment for vulnerabilities. Huawei’s technology is deeply embedded in the UK’s telecoms infrastructure after a deal in 2005 with BT led to Huawei providing parts of its extensive broadband network. The [...]
