How did they do it? The strategies of the world’s greatest investors June 18, 2015 WARREN BUFFETT THE MOST SUCCESSFUL INVESTOR EVER Now aged 84, Nebraska-born Warren Buffett was the most successful investor of the twentieth century. Known as the “Oracle of Omaha” for his wisdom, at one point he was the richest man in the world with an estimated net worth of $71bn. Buffett is a [...]
Greece on the brink ahead of crunch talks: UK prepares for Grexit as Varoufakis insists quick deal is “moral duty” June 17, 2015 Eurozone finance ministers head to Luxembourg this morning knowing that another day of failed talks could see Greece default on its debts and crash out of the single currency. Today had been considered the final chance to strike a deal in time for Greece to avoid a default. The prospect of a breakthrough is [...]
Strong jobs report gives George Osborne boost at PMQs June 17, 2015 Chancellor of the exchequer George Osborne took centre stage in the House of Commons yesterday, buoyed by strong new jobs numbers. Standing in for the first time in place of Prime Minister David Cameron at Prime Minister’s Questions (PMQs), Osborne welcomed the support of Tory backbenchers citing the latest labour market statistics and singing [...]
Fed on course to raise rates by the end of 2015 June 17, 2015 THE FEDERAL Reserve has signalled that a rise in short-term interest rates could come as soon as September, as the US economy continues to show signs of improvement. In a statement after a two-day meeting last night, Fed policymakers did not explicitly say when they plan to lift the central bank’s benchmark rate, but with their interest [...]
TalkTalk moves to obstruct BT’s £12.5bn EE deal June 17, 2015 A fresh skirmish broke out between TalkTalk and BT yesterday, after BT published a consultancy report in support of its proposed £12.5bn takeover of EE. BT chief excecutive Gavin Patterson said the combination would create a “true UK digital champion”, while EE boss Olaf Swantee hit out at rivals who are trying to block the [...]
Zac Goldsmith says Heathrow airport expansion plan is undeliverable June 17, 2015 Conservative MP Zac Goldsmith stepped up his campaign against the expansion of Heathrow airport yesterday, and said adding to the existing site is “politically undeliverable”. The environmentalist MP for Richmond Park launched a new website, www.heathrowflightpaths.co.uk, which features on its homepage a map purporting to show the areas of London that will be affected [...]
Guardian Media Group to name new chief exec June 17, 2015 GUARDIAN Media Group (GMG), owner of the Guardian newspaper, is set to appoint deputy chief executive David Pemsel for the top role. A board meeting on Tuesday decided the promotion, which is due to be announced today, according to Sky News. Pemsel has reportedly seen off competition from an unidentified UK-based Google executive and will [...]
Greek government balks at central bank’s Grexit warning June 17, 2015 With time running out to avoid a Greek default, a stark warning from Greece’s central bank proved sharply divisive yesterday. On the eve of a meeting of Eurozone finance ministers in Luxembourg, the Bank of Greece warned that the country risks a “painful” exit from the euro and even possibly the European Union if Athens [...]
Q&A: If Greece goes bust, will it necessarily leave the Eurozone? June 17, 2015 Q Why would a default lead to a so-called Grexit? A The main reason why Greece is said to be at risk of leaving the Eurozone is because it would need to support its banking system. Q Why would Greek banks need support? A The banks have lent money to the government. If the state [...]
Chancellor puts pressure on pension providers with FCA to launch review June 17, 2015 The government is considering imposing a legal cap on the amount savers are charged to withdraw money from their pensions, chancellor George Osborne has said. Standing in for Prime Minister David Cameron at Prime Minister’s Questions (PMQs) yesterday, Osborne said that Treasury is consulting to make sure that people are not charged excessive early exit [...]
