Abu Dhabi and Dubai exchanges hire advisers for possible merger October 2, 2013 PLANS for a merger between Abu Dhabi’s and Dubai’s main stock exchanges gained momentum yesterday, after it emerged that both parties have hired banks to advise on a possible deal. Merging the Dubai Financial Market and the Abu Dhabi Securities Exchange would be one of the biggest reforms in the country’s financial industry in recent [...]
Bitcoins seized as FBI shuts down illegal drug marketplace in US October 2, 2013 US LAW enforcement authorities have shut down Silk Road, the web marketplace for illegal drugs like heroin and cocaine as well as criminal activities including murder for hire, and arrested its alleged owner, the Federal Bureau of Investigation (FBI) said yesterday. The FBI arrested Silk Road owner Ross William Ulbricht, 29, known as Dread Pirate [...]
Dividends under threat as firms struggle with slump in earnings October 2, 2013 NEW RESEARCH by the Share Centre has found that dividend cover, which measures earnings against dividends paid to shareholders, has fallen to a three-year low. A lower dividend cover ratio suggests that profits have fallen, making a cut in dividends more likely. A higher ratio indicates a healthier profit level. Though FTSE 350 firms have [...]
Boardroom pay rules are set for fresh shake-up October 2, 2013 THE FINANCIAL Reporting Council is weighing up a change to the rules governing boardroom pay, which could see executives banned from sitting on remuneration panels at other companies. The watchdog’s consultation was launched a day after new laws came into effect giving investors the right to a binding vote on executive pay. The FRC will [...]
Oxbridge and Imperial top uni rankings as red bricks struggle October 2, 2013 OXFORD, Cambridge and London’s Imperial College have maintained their positions in the world’s top 10 universities, according to rankings released today – but other British institutions are falling behind foreign rivals. The University of Oxford remains the second best institution in the world according to the Times Higher Education magazine’s 2013-14 rankings, sharing the honour with [...]
Investment hits 60-year low as firms hold back on expenditure October 2, 2013 THE UK’s investment dipped to the lowest level seen since in around 60 years during the second quarter of this year, in comparison to the size of the British economy. Despite the apparent beginnings of an economic recovery, business investment is still anaemic. The Office for National Statistics (ONS) referred to “the lowest recorded level [...]
Party members strip off for the Tory conference October 2, 2013 THE CONSERVATIVE party conference shuddered to a halt yesterday, with weary MPs trudging away from Manchester, dreaming of promotion or survival in the forthcoming cabinet reshuffle. But full credit to one female party member who refused to take off her coat while passing through the airport-style security on the way to hear David Cameron’s speech yesterday [...]
Roman remains discovered in Crossrail tunnel October 2, 2013 WORKERS on the Crossrail project have uncovered 20 Roman skulls under Liverpool Street station. The remains, found in a utility tunnel, could be from victims of the Boudicca rebellion against the Romans during the 1st century, some experts believe. “This is an unexpected and fascinating discovery that reveals another piece in the jigsaw of London’s [...]
Olisa set to run for alderman October 2, 2013 KEN Olisa, the business veteran who chairs Restoration Partners, has thrown his bow-tie in the ring for the forthcoming City of London alderman elections. Olisa, known for describing ENRC as “more Soviet than City” shortly after his ejection from the mining group’s board in 2011, will stand in the Ward of Farringdon Within in next [...]
Domino’s Pizza keeps baking strong UK sales October 2, 2013 SHARES in Domino’s Pizza jumped nearly four per cent yesterday after it posted a rise in third quarter underlying sales and said its German expansion plans are back on track. The chain said despite the hot weather, like-for-like sales across its 669 mature UK stores rose four per cent over the 13 weeks to 29 [...]
