Hays records jump in profits and aims to double earnings by 2018 August 28, 2014 RECRUITMENT firm Hays reported a solid jump in profits yesterday, along with a plan to double earnings from operations in the next five years. Operating profit in the year to June swelled by 12 per cent, compared with the same period last year, hitting £140.3m. Profit before tax rose by the same proportion, climbing to [...]
Euro sentiment drops again on dismal outlook August 28, 2014 ECONOMIC confidence in the Eurozone’s recovery has dropped to the lowest level so far this year, as the currency union’s recovery from recession looks increasingly fragile. The European commission’s own economic sentiment indicator fell again, dropping to 100.6, just above the level with denotes the long-term average confidence level. The measure is now at its lowest [...]
European Central Bank hires Blackrock to help with loan purchase programme August 27, 2014 The European Central Bank (ECB) has appointed money managers Blackrock to advise the institution on a plan to buy up loans and help revive the bloc’s financial markets. Blackrock will advise the ECB on an asset-backed securities (ABS) purchase programme, which would be designed to give the stagnant euro economies a boost. However, former ECB [...]
Watchdog slaps £14.5m fine on RBS for advice August 27, 2014 THE ROYAL Bank of Scotland (RBS) was slapped with a £14.47m fine by the UK’s main banking watchdog yesterday over the quality of its mortgage advice. The penalty relates to two reviews of sales undertaken in 2012 – the Finance Conduct Authority (FCA) said that only two of the 164 mortgage agreements reviewed met the required standard, [...]
Fyffes share price up as markets go bananas for Chiquita merger shipping savings August 27, 2014 Shares in London-listed fruit giant Fyffes jumped yesterday, after a joint announcement with banana colossus Chiquita that the firms identified another $20m (£12.06m) in synergy savings to be made by their merger. Fyffe’s shares rose to 78.5p during the day, up by 4.67 per cent from Tuesday’s close. The companies had already announced $40m in [...]
Francois Hollande gives ex-Rothschild banker Emmanuel Macron top economics job August 26, 2014 Embattled French President Francois Hollande announced his new government yesterday, replacing his rebellious economy minister with former Rothschild banker Emmanuel Macron. The 36-year-old was previously Hollande’s economic adviser, and takes the place of Arnaud Montebourg, the firebrand socialist who trashed the government’s economic policies in a speech last weekend. Macron is viewed as a reformist [...]
Scottish rents rise as estate agents blame tenancy fees ban August 26, 2014 Scottish estate agents are blaming the country’s ban on tenancy fees for a recent rise in rents, indicating that the Labour party may face a similar challenge if it brings in the same rule for the UK after 2015. Your Move, a large network of Scottish estate agencies, argues today that a 2.7 per cent [...]
Surge in aircraft orders at Boeing lifts American recovery prospects August 26, 2014 A sharp uplift in goods orders and the highest consumer confidence in nearly seven years were recorded in the US yesterday, adding weight to evidence of the economy’s increasingly solid expansion. Orders of durable goods jumped by 22.6 per cent between June and July alone, driven primarily by a colossal 318 per cent rise in [...]
London house price growth set to slow to nothing in two years August 26, 2014 London house price growth will slow to nothing in 2016, as interest rates rise and properties become increasingly unaffordable, according to research yesterday According to property firm Savills, prices will climb by 15 per cent in the capital this year, but a slowdown will mean no price growth by 2016, and slower-than-average increases in 2017 [...]
UK’s surge in renminbi trading cements European hub status August 26, 2014 The UK is fast become the dominant European hub for renminbi trading, with payments in the Chinese currency more than doubling in size over the last year. Data from currency trackers Swift show that renminbi trading in the UK has surged, rising by 123.6 per cent in the year to July. Activity in Germany has [...]
