Unemployment drops like a stone to 7.1 per cent – But the Bank of England isn’t budging January 22, 2014 We've got a two for one on big economics releases in the UK. Unemployment down The three month ILO unemployment rate has dropped/risen to 7.1 per cent in the period to November, from 7.4 per cent prior, according to the Office for National Statistics. Consensus estimates saw that three month rate falling to 7.3 per [...]
Investors aren’t shaken by this week’s three big platinum strikes. Here’s why January 21, 2014 Imminent strike action at South Africa’s three largest platinum producers has failed to set the precious metal price alight as much as some may have thought. The militant Association of Mineworkers and Construction Union (Amcu), the dominant union representing the three firms’ workers, has given notice that strikes will start on Thursday, with Amcu demanding [...]
The Carl Icahn approach to investing just got more popular January 21, 2014 Call it the Carl Icahn-effect but hedge fund bosses who pressure company managers to do what they say are back in fashion with pension funds and well-heeled investors, new stats out today show. So-called activist hedge fund bosses – the type of investors currently stalking British supermarket Morrisons and train company FirstGroup – attracted more [...]
How telematics is changing the car insurance world forever January 21, 2014 I have two siblings, a younger sister and an even younger brother. My sister is a self-confessed terrible driver who once managed to write off a car in a 20mph collision outside the Post Office in our local market town. My brother, an engineer, works at Jaguar Landrover. So whose insurance quote is higher? You [...]
IMF makes big boost for UK official January 21, 2014 The International Monetary Fund (IMF) forecast for UK growth this year has been rapidly revised upwards today, from the 1.9 per cent projection in October, to 2.4 per cent. In April last year, the IMF expected growth of only 1.5 per cent for the UK. As widely expected, the Fund is easing off on criticism [...]
40pc of rail passengers are upset by this commuter nightmare January 21, 2014 The state of the toilets on Britain’s railways is the biggest bugbear for passengers, according to the latest national rail passenger survey. The biannual poll, which quizzes thousands of passengers, found that four in ten are dissatisfied with the toilet facilities and just 36 per cent were happy with the loos, down three percentage points [...]
Former Matalan boss Darren Blackhurst decides to B&Q-it January 21, 2014 After a six month silence, the former chief executive of Matalan Darren Blackhurst has popped back over the parapet, this time as commercial director of DIY chain B&Q. The moves marks an unusual step back for Blackhurst, who was a leading contender to replace former Asda chief executive Andy Bond back in 2010 (a role [...]
“Dark forces” blamed for Lloyds’ Co-op Bank fiasco January 21, 2014 A shady conspiracy of politicians stopped Lloyds from selling its 632 branches on a commercial basis, failed bidder Lord Levene (pictured) claimed this morning. The disastrous effort to sell the branches to the Co-op Bank went ahead because of political pressure, not sound business reasoning, he told MPs. Andrew Tyrie, chairing the Treasury Select Committee, [...]
Lira just got smashed by Turkey’s central bank January 21, 2014 As widely expected, the Central Bank of the Republic of Turkey has elected to hold rates. All three main rates have been left held, and that's seen the lira slide against the dollar. CBRT: lets hold rates, TRY will be fine pic.twitter.com/Lr1b38kMPg — econhedge (@econhedge) January 21, 2014 The central bank has been under [...]
ECB’s Nowotny says he sees no deflation risks – But parts of the Eurozone are already suffering January 21, 2014 Ewald Nowotny is on less than top form this morning. The National Bank of Austria president says the he expects higher Eurozone growth to raise inflation in the region in 2015. While inflation should remain under two per cent, he says, he does not expect to see inflation or deflation in the euro area. We'd [...]
