By: Harriet Green

I am City A.M.'s deputy business features editor. I look after the Entrepreneurs page, Alternative Finance and our Office Politics section. I also help out with the Forum, running our daily debate. I have a special interest in distributed ledger technology. Prior to working at City A.M., I ran a social enterprise.

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Accelerating GDP confirmed in third quarter with growth in all four sectors

October 25, 2013

Encouraging results this morning as the preliminary estimate for third quarter GDP saw a rise of 0.8 per cent, the strongest pace of growth in over three years, and in line with expectations, following the second quarter's 0.7 per cent increase. The economy is, though, still 2.5 per cent smaller than pre-crisis peak. All four [...]
German business conditions less rosy in October as they miss expectations

October 25, 2013

German IFO numbers have painted a slightly depressed picture for business conditions with IFO business climate for October at 107.4 – the first monthly fall since April, and missing expectations of 108.0 and down marginally on September's 107.7. Current assessment came in at 111.3 – down from 111.4 and versus expectations of an increase to 111.6. [...]
Carlsberg overhauls charter and proposes hike in dividend

October 25, 2013

The Carlsberg Foundation is set to remove an obligation in its charter, that it must own at least 51 per cent of the voting rights and more then 25 per cent of the share capital in Carlsberg Group. In a press release on Friday the Carlsberg Foundation confirmed it had submitted an application to amend [...]
Samsung sales soar on chips and Galaxy S

October 25, 2013

Samsung Electronics has announced that its net profit climbed 25.6 per cent in the third quarter to 8.24 trillion won (£4.7bn), boosted by a surge in shipments of its Galaxy S smartphone and higher prices for memory chips. A record operating profit of 10.2 trillion won (£5.92bn) was up 26.08 per cent from the same [...]
Life and pensions group Phoenix on track to hit targets after solid business

October 25, 2013

Britain's largest pension fund consolidator Phoenix Group said today that it has seen a year-to-date cash generation of £734m, putting it on track to deliver a top-end end-of-year target of £650-£750m in the nine months to 30 September. Shares jumped on the news. The insurer continues to discuss merger plans of Phoenix and Swiss Re's [...]
What you need to know before the open – 25/10

October 25, 2013

With UK GDP German IFO out later today, European markets are set to open mixed. US markets closed higher yesterday, boosted in after-hours trading by positive reactions to Amazon and Microsoft results. Daily % change of FX majors vs. USD: JPY +0.28, CHF +0.20, GBP +0.17, EUR 0.12, AUD -0.14, NZD -0.44 — DailyFXTeamMember (@DailyFXTeam) [...]
US trade deficit increases in August but is not expected to impact growth

October 24, 2013

The US trade deficit widened slightly in August to $38.80bn, from July's figure of $38.64bn (revised from $39.15bn). Analysts epxected that it would fall to $39.50bn. Paul Ashworth, chief US economist at Capital Economics, says the deficit suggests "that net external trade had a neutral impact on overall third-quarter GDP growth", which Capital Economics estimate [...]
JP Morgan valued Royal Mail sale at up to £10bn

October 24, 2013

JP Morgan told the government earlier this year that it thought Royal Mail could have an equity value of around £7.75bn to £9.95bn, according to Sky News City editor Mark Kleinman. The government floated the company at £3.3bn earlier this month, launching shares at 330p. Taking into account the company's approximately £800m of net debt, [...]
Hopes grow for Grangemouth deal as Unite changes tack

October 24, 2013

Unite's Len MCluskey has told Grangemouth owner Ineos that the union will embrace the rescue plan. Following emergency talks with Ineos management this morning, McCluskey said that Unite "was not going to allow this plant to close down". On BBC News 24 he said that they will not let 800 jobs go and see Grangemouth [...]
Regulator slaps prudential requirements on crowdfunding platforms

October 24, 2013

The Financial Conduct Authority (FCA) has set out today how it will regulate crowdfunding, enforcing prudential requirements for platforms. Loan-based crowdfunding platforms, which allow businesses, organisations and individuals to raise money through people pooling money, will now be required to immediately present clear information as standard and have in place resolution plans that ensure loan [...]

Meta strikes AMD chip deal as AI spend continues to boom

Ukraine invasion anniversary prompts fresh Russia Paralympics ban calls

Drinks disasters: Three top tips to avoid being a wine wally

By: Harriet Green

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