Here’s what JP Morgan thinks will drag corporate profits out of the doldrums January 13, 2014 Despite a reprieve in the Eurozone crisis over the course of 2013, corporate profits remain at pre-recession lows. JP Morgan has cast doubt on whether forecasts for earnings per share (EPS) will be as high as anticipated for 2014. The International Broker's Estimate System (IBES) forecasts EPS growth in Europe of as much as 16 [...]
Bitcoin lands world’s largest social investment network January 13, 2014 Bitcoin continues to move from strength to strength, as the world's largest social investment network, eToro, announced that its members will now be able to invest in the virtual currency. eToro's 3m traders can now make Bitcoin investments via contracts for difference (CFDs). The company will encourage members to consider the cryptocurrency a long term [...]
Royal Mail kicks off 2014 with management shakeup January 13, 2014 The recently-privatised Royal Mail has announced a series of changes to its senior management team. As Royal Mail begins its time in the private sector, Mark Higson, managing director, operations and modernisation, following the company's AGM, decided to resign from the board in July 2014. The company said he had "played a key role in [...]
Greene King brews up record-breaking Christmas January 13, 2014 Pub retailer Greene King has posted a rise in like-for-like sales of five per cent for the last six weeks. The company achieved a six per cent rise in like-for-like sales over the years two most important trading weeks. Christmas Day proved to be the most successful in the company's history, with 62,000 meals sold, [...]
Bitcoin wins the heart of libertarian CEO January 10, 2014 Encouraged by positive Senate hearings in November and enthusiastic Bitcoin processors, online retailer Overstock.com has decided to take the plunge and accept the cryptocurrency. In the first 90 minutes of Bitcoin sales, the site received around 150 orders. Overstock took the decision several months earlier than had been planned. The libertarian chief executive of Overstock.com, [...]
As retailers suffer poor Christmas sales – is a tech revolution their only hope? January 10, 2014 In the wake of poorer than expected Christmas trading results, a veteran of the retail trade is warning that if businesses fail to innovate, they will continue to face challenges getting customers to walk through their doors. Chief executive of mobile payment solutions specialist Powa Technologies, Dan Wagner, says that innovation is key for retailers [...]
Young Britons hit hardest by housing crisis January 10, 2014 PR consultancy MRM has released a report investigating the attitudes of "Generation Austerity," aged 20-29. Their results set today's young people radically apart from the rest of the population, in their attitudes to personal finance. When asked what is the most important thing for you to save for right now, 37 per cent of generation [...]
JP Morgan think a lack of frack is hurting European chemicals January 10, 2014 JP Morgan has warned that the rise of shale gas could prove to be a "structural negative" for the European chemicals industry. JP Morgan remains negative on the European chemical sector citing BASF, Solvay, Lanxess (all under weight) as its least preferred options. However, US chemical producers are booming due to a sharp fall in [...]
Regulator imposes surprise Heathrow price cap January 10, 2014 The operator of Heathrow airport is set to clash with regulators after the Civil Aviation Authority (CAA) said user charges for airlines will be capped at 1.5 per cent below RPI inflation. Dame Deidre Hutton, CAA chairwoman, said the price cap was "good news for air passengers. They will see prices fall, whilst still being [...]
JD Sports enters the New Year with steady sales growth January 10, 2014 JD Sports has reported like-for-like sales for the group's core Fascia stores are now marginally ahead of the 5.8 per cent rise seen in the for the forty two weeks to 23 November. The group believes the most recent six weeks trading has given the company hope for further progress over the course of 2014. [...]
