Esure sees profits rise in first year as listed company March 11, 2014 Insurance group Esure has ended its first year as a listed company by reporting a rise in profit before tax of 2.5 per cent to £118m, for the year ended 31 December 2013. The company's final dividend was 13.3 pence per share. The full year dividend reached 15.8 pence per share. Esure saw a return [...]
Asian markets rise after Bank of Japan maintains monetary easing March 11, 2014 Asian markets are rising this morning after the Bank of Japan's (BoJ) decision to maintain its policy of monetary stimulus. However, the BoJ downgraded its forecast for Japanese exports. With the effect of a weak yen on consumer prices fading the BoJ's two per cent inflation target may become more difficult to achieve by the [...]
Cyprus central bank governor resigns March 10, 2014 The government of Cryprus has released an official statement confirming the resignation of its central bank governor Panicos Demetriades. Realtions between the central bank governor and the government have been poor for much of the past year. President Nicos Anastasiades had in the past gone so far as to openly call for Demetriades' resignation. In [...]
Carl Icahn slams eBay CEO March 10, 2014 In another open letter to eBay stockholders, activist investor Carl Icahn has blasted the company's CEO for actions that he believes have cost the e-commerce giant $4bn (£2.4bn). Icahn alleges that John Donahoe cost eBay $4bn when he sold Skype in 2009, in what he called a "premature sale" at a "diminished price." The investment [...]
There’s nothing to fear from the rise of zero-hours contracts. Here’s why March 10, 2014 In 2013, the number of employees on zero-hours contracts reached 582,935, more than double the number estimated by the government last August, according to revised figures from the Office for National Statistics (ONS). The number of people on zero-hours contracts has tripled since the coalition government took office in 2010. To many, this development in [...]
Reckitt Benckiser shares rise after K-Y deal March 10, 2014 Shares in consumer goods group Reckitt Benckiser are up 0.04 per cent this morning. Earlier in the day, the company announced that it would be acquiring the global rights to the K-Y brand of intimate lubricants from Johnson & Johnson for an undisclosed amount. In 2013, K-Y had net sales greater than $100m. The products [...]
GSK ups stake in Indian unit to 75pc March 10, 2014 Britain's biggest drug maker GlaxoSmithKline (GSK) has announced that, following the voluntary open offer by its subsidiary, it has successfully hiked its stake in its publicly-listed Indian unit, from 50 per cent to 75 per cent. The company said GSK Pharmaceuticals Limited will remain publicly-listed. David Redfern, chief strategy officer, commented: We are very pleased [...]
Asian markets fall as China trade balance slips into deficit March 10, 2014 Asian markets are taking a beating this morning after data showed an unexpected fall in Chinese exports in February, fuelling fears of a slowdown in the world's second largest economy. The disappointing data from China dampened the optimism seen in the wake of Friday's better than expected US job numbers. Investors are remaining cautious as [...]
US jobs data: 175,000 workers hired in February March 7, 2014 On a seasonally adjusted basis, 175,000 US workers were hired in February. The number was significantly above analysts estimates of 149,000, suggesting a strengthening of the US economy. The labour force participation rate came in at 63 per cent, the same as was recorded last month. The unemployment rate ticked up to 6.7 per cent, [...]
Here’s the new app you can use to check your cash is real March 7, 2014 The Bank of England (BoE) has just announced the release of its new banknote app. The app provides the user with an interactive touch screen guide to the BoE's banknotes as well as checks on their security features. The £20 note has eight such security features. The Bank says the app is free and aimed [...]
