Storms see US homebuilder confidence fall at record pace February 18, 2014 "Unusually severe weather conditions" have put a chill into US homebuilders, according to the National Association of Home Builders. The NAHB housing market index just saw its biggest ever plunge. Losing 10 points, it's fallen from 56 to 46 in February. Analysts had expected no change from last month's 56. "Significant weather conditions across most [...]
Ferrari profits from cutting its car sales February 18, 2014 Ferrari has managed to lift its revenues and profits despite capping production last year in a bid to keep the exclusive image of its sports cars intact. The Italian car maker has today posted revenues of €2.3bn (£1.9bn) for 2013, up five per cent, while net profits were up 5.4 per cent at €246m. [...]
Squatters are trying to beat huge brands to these new domain names February 18, 2014 Squatters are targeting some of the biggest worldwide brands ahead of the release of swathes of new web addresses this year. Domain names like www.amazon.web and www.gucci.shop are being targeted by squatters looking to cash in on confusion surrounding the new addresses due to be released later this year. Over 98 per cent [...]
Man falls from roof of JP Morgan’s Hong Kong HQ February 18, 2014 A man has fallen to his death after jumping from the roof of investment bank JP Morgan's Hong Kong office, according to the South China Morning Post. Witnesses told the paper that the man fell from the 30 storey Chater House building between 2.00pm and 3.00pm local time. Samaritans is available round the clock on [...]
Is the Indian government copying George Osborne? February 18, 2014 A beleaguered finance minister announces his budget to his country’s parliament, trying to reduce his country’s budget deficit in the face of above-average inflation and dreary growth prospects. The scene might sound familiar to followers of British politics, but yesterday it was Indian finance minister Palaniappan Chidambaram’s turn. The situation is hardly unique in [...]
Paragon becomes second new bank in 100 years February 18, 2014 Paragon Bank launches today after receiving a license from the authorities – the first new license since Metro Bank’s in 2010, making Paragon the second new bank in over 100 years. The bank’s parent group was already engaged in specialist lending such as buy to let mortgages. But this license allows it to [...]
Candy Crush maker King’s $500m IPO on its way February 18, 2014 The developer of addictive puzzle solving games, King, has confirmed that it's going to market. The company has filed for a $500m initial public offering. It boats 324m monthly unique users, and offers a portfolio of over 180 games. King hopes to list ordinary shares on the New York Stock Exchange with the ticket symbol [...]
This press release sums up everything that’s wrong with the UK’s house price obsession February 18, 2014 If there's a blindspot in the UK's collective understanding of economics – house prices is certainly it. In no other area would we so excitedly greet news of rising prices. That public relations officers feel we should want to applaud news of house prices well above their pre-crisis high is an insult. "Like chinks of sunlight, [...]
Why this analyst feels Vodafone needs a little love February 17, 2014 Telecoms operator Vodafone is in need of some love, according to an analyst from Macquarie, now that a buyout from AT&T has been taken off the table. “Vodafone’s recent results and its increasingly visible structural challenges signal the company is in desperate need of some love,” said analyst Guy Peddy in a note today. [...]
Need to know about inheritance tax? Here’s why you’ll want to ask a Geordie February 17, 2014 Do you know what the inheritance tax threshold is? £1m? £150,000? According to a study out today, one in two people living in Britain today don’t have a clue. For the avoidance of doubt, it’s £325,000 (well done if you got it right). Being left money over that level means you pay tax on [...]
