Norwegian krone will eventually strengthen November 2, 2010 NOT even a strong fiscal position and exposure to the commodity story through being an oil exporter can discourage the bears from selling the Norwegian krone at the moment. Against the single currency, the Norwegian krone has weakened by 4.46 per cent since the start of September and 6.5 per cent since mid-May, erasing all [...]
Times digital sales may be £6m a year November 2, 2010 THE Times newspaper yesterday announced it has taken 105,000 “digital sales” of its newspaper since it erected a controversial paywall in July. The number includes a series of heavily discounted “early adopter” offers and day passes, as well as iPad and monthly subscription sales. A further 100,000 existing subscribers to the print edition of the Times [...]
Lebedev bank is stormed by armed and masked cops November 2, 2010 Armed police stormed a Moscow bank controlled by the billionaire owner of the Independent and Evening Standard in a dramatic raid yesterday. Around 30 Russian police carrying Uzis and clad in balaclavas terrified staff as they demanded access to documents. Tycoon and former KGB spy Alexander Lebedev was in the offices of his National Reserve [...]
QE2 MAY GIVE US DOLLAR A RELIEF RALLY November 2, 2010 DIRECTOR OF CURRENCY RESEARCH, GFT AS THE currency world turns its attention to today’s FOMC statement, which is expected to reveal the terms of its QE2 programme, it may be useful to ask why do US monetary officials insist on quantitative easing in the first place? After all, most economists agree that this round of [...]
Jailed Yukos oil tycoon rails against Kremlin November 2, 2010 JAILED former oil tycoon Mikhail Khodorkovsky used his closing argument at his second trial yesterday to raise his profile as a political prisoner, saying he would sacrifice his life for the rule of law in Russia. Khodorkovsky said he was “ashamed” of Russia, a country where “a person who collides with ‘the system’ has no [...]
The commercial property king who says the City is ready for take-off November 2, 2010 Land Securities’ chief executive leaps from behind his desk, bounding across his seventh floor office overlooking Trafalgar Square as he welcomes City A.M. – after years of stagnation, the country’s biggest property developer is on the move again – and it certainly seems to have put a spring in Francis Salway’s step. Last week, the FTSE [...]
NYSE Euronext profit off as trading slumps November 2, 2010 NYSE Euronext quarterly profit dropped 12 per cent on a global slowdown in share trading, but the results were better than expected and the trans-Atlantic exchange operator said it would continue its joint-venture approach to any new swaps ventures. Management stressed that trading was unusually quiet in the third quarter and said this was unlikely [...]
Two arrested after German and UK insider trading probe November 2, 2010 Two people have been arrested in London on suspicion of insider trading after investigators raided two addresses in the UK and one in Germany, the City watchdog said yesterday. The Financial Services Authority (FSA) said that a 37-year-old professional man and a 28-year-old woman had been arrested after the joint operation with the police and [...]
Construction loses momentum to fall to eight-month low November 2, 2010 ACTIVITY in the construction sector slowed more than expected in October to its weakest level in eight months, a closely-watched survey showed yesterday suggesting one of the key areas of recent UK economic growth could be faltering. The Markit/Chartered Institute of Purchasing and Supply construction purchasing managers index fell to 51.6 in October from 53.8 [...]
Pace of staff recruitment slows down November 2, 2010 STAFF appointments rose at the weakest rate for 14 months in October, with the pace of recruitment slowing in both permanent and temporary staff placings. The Recruitment and Employment Confederation (REC) and KPMG Report on Jobs – published today – found overall demand for staff was reported to have increased at the weakest rate for [...]
