Adecco says job market improving August 8, 2013 European labour markets have reached a turning point, the world’s biggest staffing firm Adecco said yesterday, as it beat second-quarter profit expectations and saw its shares surge to a two-and-a-half year high. Adecco’s underlying revenues, excluding currency moves and acquisitions, fell three per cent in the second quarter to €4.93bn (£4.24bn), in line with expectations [...]
China probes Novo Nordisk August 8, 2013 Chinese authorities have visited a site operated by Danish drugmaker Novo Nordisk, the world’s biggest maker of insulin, in the latest sign of a widening investigation into western drugmakers. The firm said it co-operated with the visit, as it revealed a better-than-expected 12 per cent rise in quarterly profits to 8.59bn crowns (£964m) and raised [...]
Adidas sees sales slump August 8, 2013 German sportswear giant Adidas lowered its sales forecasts yesterday to “low- to mid-single digit” growth following poor figures in the US and western Europe. In its first-half results the firm reported that like-for-like sales dropped in western Europe to €1.9bn (£1.64bn). The sports giant said that this was largely down to increased event related sales [...]
City Moves for 9 August 2013 | Who’s switching jobs August 8, 2013 Clayton Euro Risk The risk management company has announced the appointment of Konstantine Pastras as client development and strategy director. Pastras specialises in residential mortgage-backed securities. He has previously held various roles at DBRS Ratings, Fitch Ratings and Investec. Financial Conduct Authority The regulator has appointed four directors in its supervision division. William Amos was previously [...]
Best of the brokers for 9 August 2013 August 8, 2013 CARILLION Morgan Stanley has started covering the support services group with an “equal-weight” rating and a target price of 345p. The broker sees solid momentum in the firm’s order book, in spite of uncertainty around the value of the government’s Green Deal. LANCASHIRE UBS has cut the insurer from “buy” to “neutral” and lowered its [...]
London Report: China trade data surprise breaks FTSE’s losing run August 8, 2013 THE FTSE 100 benchmark equity index broke a four-day losing streak yesterday as forecast-beating trade data from China, the world’s biggest metals consumer, lifted mining stocks. China’s exports and imports both rose more than expected in July, in a tentative sign of economic recovery. The basic materials sector added 12 points to Britain’s FTSE 100, [...]
New York Report: Microsoft’s rise helps lead US shares higher August 8, 2013 US stocks advanced yesterday, snapping a three-day losing skid as a rally in Microsoft helped lift the technology sector. The three major US stock indexes all managed to shake off early losses as Microsoft shares climbed. The stock closed up 2.6 per cent at $32.89 in heavy volume. The S&P information technology sector index rose [...]
History repeats itself: Why the Bank’s interest rates pledge lacks credibility August 8, 2013 FROM 1992 until 2007, the UK had a monetary policy framework (a system for how interest rates were set and money printed) called “inflation targeting”. By 2007, the target was 2 per cent inflation, but inflation was allowed to deviate from this point target, for short periods, by up to 1 per cent provided it [...]
The Long View: Our very own Breaking Bad could be the wake-up call we desperately need August 8, 2013 BRITAIN needs better liars. Having lost our tolerance for taking reality straight up, we need a more palatable way to swallow hard truths. And for this, truth sugared by fiction looks like the best option we have left. In other words, Britain needs its own Breaking Bad, the greatest television drama since The Wire, which [...]
British business would thrive under a bespoke new deal with Brussels August 8, 2013 IN THE coming months, as the EU floats the possibility of fiscal, debt, and banking union as a solution to the Eurozone crisis, there is an opportunity for David Cameron to renegotiate a new deal that benefits our service and financial sectors. At Business for Britain, we have begun the process of consulting our supporters [...]
