N Brown sales soar on internet sales and younger customers October 9, 2013 Retailer N Brown has posted strong sales and operating profits in its half year results for the 26 weeks till 31 August. Total group revenue stood at £406.6m, an increase of eight per cent with an increase in like-for-like sales of 7.8 per cent. Operating profit grew to £48.4m, an increase of 5.9 per cent. [...]
Dow off over 100 points with no end to US shutdown in sight October 8, 2013 US index the Dow Jones Industrial Average is off over 100 points this session as investors are starting to get worried about the possibility of a default. Earlier today an aide of GOP speaker John Boehner said that President Barack Obama had called – apparently the Democrats won't negotiate until after the debt ceiling is [...]
Goldman takes 50 per cent stake in insurer Hastings October 8, 2013 American investment bank Goldman Sachs has taken a 50 per cent stake in UK motor insurer Hastings. The deal will see Hastings valued at £700m. Talk of a deal has been around since August when it emerged that Goldman Sachs was thought to have turned to capital markets to raise money from a bond issue. [...]
Three quarters of firms optimistic about the future, says IoD October 8, 2013 A new survey of business leaders has found that 75 per cent of Institute of Directors members believe the outlook is now brighter than at any stage since the financial crisis of 2008. Of the 1,309 members who responded to the survey 46 per cent now have high confidence for the next 12 months, with [...]
IMF raises UK growth forecast October 8, 2013 The IMF has upgraded its growth forecasts for the UK in its Wold Economic Outlook. The UK is expected to grow by 1.4 per cent in 2013 an increase from the previous projection of 0.9 per cent. In 2015 the IMF expects the UK will grow by 1.9 per cent an increase from the previous [...]
Collapse in US economic confidence largest since Lehman October 8, 2013 US economic confidence has collapsed by 12 points to -34 in the Gallup survey of economic confidence. This is the second largest decline since Gallup started started tacking economic confidence in 2008. The results come from the last week over the period of the US government shutdown – the first in 17 years.
Could the US cheat its way around the debt ceiling? October 8, 2013 As equities market move lower as the US enters its eighth day of shutdown, we're seeing no signs of a crash ahead of the US hitting the debt ceiling on 17 October. Are investors convinced that politicians will strike a deal, or do they have confidence in a workaround being floated by economics wonks – [...]
Dubai’s Nakheel returns to halted artificial island project October 8, 2013 Dubai based developer Nakheel will be resurrecting the development of part of one of three islands, another indicator that recovery after the 2008 financial crisis is now in full swing (at least if you're the sort of person with the funds to visit a private island). Rebranded from Palm Deira to Deira Island, the palm-shaped [...]
MEPs vote for wave of tobacco regulation October 8, 2013 The European parliament has passed a host of anti-tobacco regulations. The parliament on Tuesday backed proposals to increase the size of cigarette warnings on cigarette packs to 65 per cent. This was however lower than the original 75 per cent proposed by Labour MEP Linda McAvern. The current EU standard for health warnings, covers 30 per cent [...]
Demand for Royal Mail shares exceeds £30bn October 8, 2013 With shares worth around £2bn to be sold, institutional investor demand has swamped that supply according to Sky News' City editor Mark Kleinman. That doesn't include demand from members of the public. Kleinman says that a "last-minute rush for shares" is expected throughout today. If you still want to buy shares, find out how here.
