London tube strike called off February 11, 2014 Both the TSSA and RMT have called off their tube strikes, which were scheduled to last from tonight at 9.00pm until Friday morning. The unions called off their strike on the London Underground after reaching a deal over ticket office closures. An Acas spokesperson said that “talks have adjourned at Acas this morning. London Underground [...]
How the Co-op Bank saved the mutual sector February 11, 2014 The Co-op Bank’s merger with Britannia Building Society at the height of the financial crisis may have been a major blunder for the bank, but top regulator Andrew Bailey thinks it could have saved the industry. In fact the cost to other building societies of rescuing Britannia depositors could have driven many smaller institutions to [...]
Kazakhmys shares soar on tenge tantrum February 11, 2014 Shares in miner Kazakhmys are up by nearly 26 per cent on news of a currency devaluation in Kazakhstan. It will comes as no surprise that Kazakhmys is located in that country, and the central bank announcement is responsible for the surge in shares. Kazkahstan's is the latest in a series of commodity currencies [...]
Kazakhstan’s tenge is the latest emerging market domino to fall. Here’s what you need to know February 11, 2014 Crunch time for another emerging market economy. The fall of Kazakhstan's tenge is the latest in a series of currency depreciations to hit emerging markets over the last few weeks. Kazakhstan's central bank governor Kairat Kelimbetov has pledged to "protect the tenge from sharp moves … away from the new level of 185 to [...]
George Soros overtakes Dalio as world’s most successful money manager February 10, 2014 George Soros, the man who broke the Bank of England, has just taken another scalp: Hedge fund manager and philosopher Ray Dalio. Soros, whose 1992 trade against the sterling during Black Wednesday earned him the famous moniker, has overtaken Dalio as the world’s greatest hedge fund manager, according to figures released today by LCH Investments [...]
Bitcoin problems blamed on Mt Gox failings February 10, 2014 Suggestions that cryptocurrency Bitcoin is flawed have been denied by the Bitcoin Foundation. The foundation claims that the bug Mt Gox has identified – known as "transaction malleability" – has been known about since 2011. In simplest of terms, it is a small window where transaction ID’s can be “renamed” before being confirmed in the [...]
Google overtakes Exxon to become US’ second biggest firm February 10, 2014 Tech giant Google has overtaken the world's No1 oil producer, Exxon, to rank as the US' second largest company by market capitalisation. On Friday Google closed with a cap of $395.42bn (£240.96bn), versus Exxon's $392.66bn, according to FactSet data. The shift marks the changing landscape of the US economy, as more of its capital shifts [...]
The 4 big things tech firms are set to unveil at Mobile World Congress February 10, 2014 Mobile World Congress (MWC) is one of the biggest event in the telecoms calendar. Starting on the 23 February this year and lasting all week, it has become the place to launch new mobile products. Samsung Samsung is widely expected to reveal its Galaxy S5 at its aptly named Unpacked 5 event on Monday 24 [...]
African Barrick Gold soars on cheerful HSBC outlook February 10, 2014 All that glitters certainly is gold for African Barrick Gold, the FTSE 250-quoted miner that soared over eight per cent this morning. As well as benefitting from a rise in the yellow metal price today, the company was given a boost by an upgrade from HSBC. This is an encouraging sign for ABG after a [...]
Victoria set for £4bn investment as Armani and Jimmy Choo relocate February 10, 2014 Victoria is set for a £4bn investment over the next decade as developers cash in on companies following in Armani and Jimmy Choo's footsteps and relocating their headquarters to the area. London’s busy transport hub has undergone a major shift over the last ten years as government departments who were traditionally the biggest office-users in [...]
