Privatisation may have come too late to stop the decline of Royal Mail May 20, 2014 Since privatisation Royal Mail has enjoyed a positive settlement with the Communication Workers Union (CWU), continued to implement its efficiency plan and has reported trading in line with guidance. However, Royal Mail's recent success is under increasing threat as the UK takes off as one of the most liberal and competitive postal markets in the [...]
Fierce competition hits Vodafone profits May 20, 2014 Vodafone has reported a fall in group revenue of of 1.9 per cent to £43.6bn, with organic service revenue declining 4.3 per cent for the year to 31 March. The company reported a hefty fall in adjusted profit before tax of 40 per cent to £6.5bn, while EBITDA came in at £12.8bn slighlty below the [...]
Asian markets on the rise while Thailand declares martial law May 20, 2014 Asian markets are enjoying modest gains as the Bank of Japan's (BoJ) two day policy meeting gets underway. The BoJ is widely expected to maintain current policy when it announces its decision on Wednesday. Governor Haruhiko Kuroda has sought to maintain an optimistic outlook for the health of the Japanese economy, dampening expectations the BoJ [...]
Black market cigarettes on the rise after 150pc tax increase since 2010 May 19, 2014 The consumption of non UK duty paid tobacco (NUKDP) is showing its first increase in recent years as cigarettes have faced a 150 per cent tax rise since the start of 2010. The amount NUKPD of roll your own (RYO) tobacco has risen to a staggering 48 per cent, while the figure for stick cigarettes [...]
What is Twitch and why is it worth $1bn? May 19, 2014 Google is reportedly swooping for three-year-old video game streaming service Twitch with an offer of more than a billion dollars. While watching other people play video games might not sound like a big business opportunity, it's an industry that has grown rapidly in recent years with Twitch playing a key role in boosting its popularity. [...]
Fatty food is the new tobacco says international report May 19, 2014 The global food industry could be facing a regulatory regime similar to that of the tobacco industry, if world leaders follow the recommendations of a report released by the World Obesity Federation and Consumers International. The two international bodies recommend that the world's governments undertake a binding commitment to place stricter controls on food marketing [...]
AstraZeneca rejects new Pfizer offer May 19, 2014 Shares in US drugs giant Pfizer have slumped by 14 per cent after the company's £69bn takeover offer was rejected by the board of AstraZeneca. Last night Pfizer revealed that it had raised its offer for AstraZeneca to £55 a share, after having an earlier offer of £53.50 turned down on Friday night. Chairman of [...]
Asian markets slide after Chinese house prices disappoint May 19, 2014 Asian markets have suffered declines as weak housing data from China renewed fears that the slowdown in the world's second largest economy could be getting worse. House prices for new homes rose in 44 of 70 cities surveyed last month, compared with 56 cities is March. The People's Bank of China has instructed financial institutions [...]
Central bank report says Bitcoin could threaten the global financial system May 15, 2014 A report by the Bank of Canada (BoC) has warned that the widespread adoption of cryptocurrency Bitcoin could bring serious risks to the established financial system. Entitled Understanding Platform Based Digital Currencies, the authors wrote "there could be potential risks to overall financial stability if Bitcoin became a significant means of payment and the Bitcoin [...]
Ukraine crisis and warm weather hammer EU-Russia trade May 15, 2014 Trade between Russia and the EU slumped in the first three months of 2014, according to figures to be released by Eurostat on Friday, reports Euractiv. EU imports from Russia dropped nine per cent in the first quarter compared to the same period last year, with the volume of Russian imports standing at €49bn (£40bn), [...]
