Germany opens petrol probe April 4, 2012 Germany has launched a probe into possible price-fixing by the country’s top five petrol station chains, German press reported yesterday. The Federal Cartel Office has started an investigation by requesting information from BP’s Aral unit, Esso, Shell, ConocoPhillips’ Jet unit and Total. The watchdog is said to have received complaints that the big five brands [...]
Economists say US debt crisis is on the horizon April 4, 2012 SOVEREIGN debt is as big a problem in the US as it is in the Eurozone, and only a crisis looks likely to prompt its dysfunctional government into taking action, Legal and General Investment Management (LGIM) warned yesterday. Figures out yesterday showed the country’s service sector expanded in March, but LGIM economist Tim Drayson said [...]
Record rate of Japanese recovery April 4, 2012 Japanese service sector output grew at a record high rate in March as the economic recovery took hold, Markit’s purchasing managers’ index (PMI) showed yesterday. The index hit 53.7 in the month, up from 51.2 in February and comfortably above the “no change” level of 50. Manufacturing activity also rose strongly, indicating a solid rise [...]
Data analysis has £216bn potential April 4, 2012 “Big data” analysis has the potential to add £216bn to the UK economy by 2017, according to research out today from the Centre for Economics and Business research and SAS UK. The huge amount of data generated by online and mobile activity can be analysed to “unlock previously unseen patterns, sentiments and customer intelligence,” the [...]
Frustrated Draghi calls for faster labour reform April 4, 2012 GOVERNMENTS must use the current relative “calm” in financial markets to push ahead with vital reforms, European Central Bank (ECB) boss Mario Draghi insisted yesterday, as he left interest rates at one per cent. The ECB pumped over €1 trillion (£827bn) into banks in two long term refinancing operations (LTROs) in December and February, which [...]
Are you feeling better about the economy? April 4, 2012 This week we are asking members of our Voice of the City panel, run in conjunction with PoliticsHome, whether they are feeling more upbeat about the economy than at the start of the year. Have recent business surveys given reason for cheer? Do you think the UK has avoided a technical recession? Or perhaps you [...]
CITY A.M. | SHADOW MPC April 4, 2012 ALLISTER HEATH | CITY A.M. “Hold rates. Strong survey data shows the economy has been recovering through the first quarter, firmly eliminating any need for more easing. Indeed, markets are already providing some tightening of their own, putting up mortgage rates and borrowing costs.” SIMON WARD | HENDERSON “Hold rates and suspend gilt purchases. The [...]
Fears copyright deal damages people’s rights April 4, 2012 EUROPE’S top court will determine whether a global trade agreement on copyright theft breaches citizens’ fundamental rights including the freedom of expression, the European Commission said yesterday. The European Union executive said it had referred the Anti-Counterfeiting Trade Agreement (ACTA), which is designed to tackle intellectual property theft, to the European Court of Justice for [...]
BLINKBOX SIGNS PARTNERSHIP WITH DISNEY April 4, 2012 ONLINE movie service Blinkbox has joined forces with Disney to bring the film company’s latest releases to UK customers. Many popular titles, including War Horse (pictured) and The Muppets, will be available to rent online the same day that they are released on DVD, while Blinkbox users will also be able to access Disney classics [...]
Capita snaps up Axa’s Bluefin benefits consultancy for £50m April 4, 2012 OUTSOURCING group Capita has bought an employee benefits business from insurance firm Axa for £50m on a cash-free and debt-free basis. Capita will take over Bluefin Corporate Consulting, which advises on pension enrolment and other employee benefits, while Axa will keep the Bluefin trading name and its insurance and wealth management arms. Axa said in [...]
