General Election 2015: FinnCap CEO Sam Smith wants more help for growing companies and support for UK FinTech April 29, 2015 ELECTION COUNTDOWN: 7 DAYS TO GO Every day until the final week of the election campaign, we ask a business leader to say what policies would entice them to vote for a particular party. SAM SMITH: CHIEF EXECUTIVE, FINNCAP Put in place further tax breaks for investing in growth companies. Reduced the corporate [...]
Growth in American economy freezes due to the bad weather April 29, 2015 US economic growth stalled in the first three months of 2015, growing just 0.2 per cent compared to the same time last year. Growth was 2.2 per cent in the final quarter of 2014, and economists had expected the economy to expand one per cent in the first quarter of 2015. The slowdown has been [...]
New Greek negotiator Euclid Tsakalotos heads to Brussels for bailout discussions April 29, 2015 Greek officials will meet with representatives of its creditors in Brussels today, as the country rushes to avoid bankruptcy. The Greek delegation will be led by Oxford-educated Euclid Tsakalotos, City A.M. understands. He has usurped finance minister Yanis Varoufakis as Greece’s main negotiator, after a meeting between Varoufakis and Eurozone finance ministers last week turned [...]
Nasdaq apologises for letting Twitter results fly out ahead of time, blames Shareholder.com April 29, 2015 Nasdaq was yesterday forced to apologise for the early release of Twitter’s earnings, blaming an “operational” error that lasted just 45 seconds. Twitter’s share price plunged nearly nine per cent yesterday, following a 20 per cent tumble on Tuesday when the social media site’s below-estimate quarterly earnings were announced early. Nasdaq blamed its [...]
Troubled Barclays braced for famously tough incoming new chairman John McFarlane April 29, 2015 It is hard to keep a straight face when calling PPI compensation and litigation costs “one-offs” at any of the big banks nowadays. Yet seven years on from the start of the financial crisis, Barclays and the other big banks are still treating the extraordinary costs as unusual items each quarter. Yesterday Barclays [...]
US corporate results round up April 29, 2015 Carlyle Group impacted by $112m French court fine Carlyle Group reported a 13 per cent year-on-year drop in first-quarter profit, as it was asked to pay $112m in a French tax court case involving one of its real estate funds, yet it still beat most analysts’ expectations on performance. Carlyle had reserved only $82.5m for [...]
Consumer optimism gives mixed signals ahead of General Election as confidence index plateaus April 29, 2015 Consumer confidence is high going into the General Election, new figures show today, but has failed to improve on last month. The consumer confidence index produced by market researchers GfK remained at a score of four in April. Despite confidence failing to improve on March, it is at its highest level for over a [...]
Eurozone sees faster money supply growth April 29, 2015 THE EUROZONE’S money supply accelerated in April, boosting the currency bloc’s growth and inflation prospects. M3 – which adds up all the euros in the bank accounts of people and companies – rose by 4.6 per cent in March compared with the same month last year, according to data released by the European Central Bank yesterday. [...]
Bernanke becomes bond giant Pimco’s latest major signing April 29, 2015 BEN BERNANKE the former chairman of the US Federal Reserve, has joined bond giant Pimco as a senior advisor to the firm. The news comes after he announced last week that he would be advising hedge fund Citadel. He also works full-time for the Brookings Institute. In an interview Bernanke said that he would not be [...]
The flash crash trader Navinder Singh Sarao returns to London cell ahead of extradition fight April 29, 2015 The legal team of flash crash trader Navinder Singh Sarao is aiming to appoint a QC to work on his upcoming extradition case, a member of his legal team said at Westminster Magistrates’ Court yesterday. Richard Egan, partner at Tuckers Solicitors, said yesterday that while a junior barrister is currently dealing with the case [...]
