Asian shares turn positive as emerging markets calm February 6, 2014 Asian shares are seeing a modest advance as investors look to the European Central Bank (ECB) and US jobs numbers to provide stability in the wake of recent turbulence in emerging markets. The ECB is is expected to maintain its current monetary stance but many investors would be pleasantly surprised if the bank took easing [...]
Abenomics fails to deliver for Japan’s mega banks February 5, 2014 Japanese banks are set for a rough ride this year as they struggle to maintain strong profits, according to Fitch Ratings. The ratings agency said recent gains seen in the wake of Abenomics can be attributed more to a surge in optimism rather than fundamental improvements. Core lending remains sluggish as a stronger yen combined [...]
Leading US pharmacy plans to clear shelves of cigarettes February 5, 2014 From October, smokers will no longer be able to stock up on Marlborough lights and flu medicine at their local CVS. The company has taken the decision to become the first American pharmacy to clear all tobacco products from its 7,600 stores. "Ending the sale of cigarettes and tobacco products at CVS/pharmacy is the right [...]
GlaxoSmithKline profits miss as China challenges weigh February 5, 2014 Britain's biggest drugmaker GlaxoSmithKline (GSK) has reported growth in profit before tax of four per cent, reaching £6.6bn for the year ended 31 December 2013. GSK saw earnings per share reach 31.1p; above analyst estimates of 30.8p. The company's full year revenue rose one per cent to £26.5bn. GSK announced that it expected around 30 [...]
How charities lavish millions of taxpayer money on left-wing campaigns February 5, 2014 The government is spending millions of pounds lobbying itself and threatening the independence of charities, according to new research released today by the Institute of Economic Affairs (IEA). The Sock Doctrine outlines how charities in receipt of government money are engaging in political activism such as campaigns to hike the price of alcohol and ban [...]
Asian markets indecisive ahead of US data February 5, 2014 Asian shares are struggling to maintain a minor rally as an indecisive performance by the Japanese market drove further demand for safety in the yen and top-rated bonds. Should the US produce poor payrolls on Friday, Asian markets could suffer further as pessimism amongst investors rises. After a bumpy ride, the Nikkei has risen by [...]
The 3 best and worst places to hold Bitcoin February 4, 2014 The debate about how to deal with the virtual currency Bitcoin is still in its infancy, according to a report released by the Law Library of Congress. The report surveys 40 jurisdictions and the European Union on any regulations or statements from central banks and governments on the handling of Bitcoin. Of the countries surveyed [...]
War on drugs is unwinnable says Clegg February 4, 2014 Nick Clegg has declared the war on drugs unwinnable and that a fundamental rethink of current policy is needed. Speaking on a visit to Colombia, the deputy prime minister said that the UK must end the conspiracy of silence surrounding the failure of prohibition, telling the BBC "If you are anti-drugs you should be pro-reform." [...]
UBS increases bonus pool by 28 per cent in wake of bumper profits February 4, 2014 Swiss financial services company UBS has announced profit before tax for the fourth quarter of 356m Swiss francs (£242m) after being boosted by a tax benefit and bumper revenues from its investment bank. In good news for UBS staff, the bank has decided to increase its total bonus pool by whopping 28 per cent. The [...]
Co-founder of Ocado steps down as the company reports £12.5m loss February 4, 2014 Online grocer Ocado has suffered a pre-tax loss of £12.5m for the year ended 1 December, despite increasing sales growth and the company’s deal with Morrison's last year to supply a new online service. Gross sales rose by 15 per cent to £843m, with new customer acquisitions up over 40 per cent on 2012. Analysts [...]
