From stamp duty to the triple lock, Andy Haldane says bold Burnham leadership can usher ‘vibe change’ for UK economy
Samsung set for worst results in two years as it predicts 25pc profit drop July 8, 2014 Samsung Electronics revealed today that it forecasts weak quarterly earnings, resulting in what would be its worst results in two years. This has cast doubt on the smartphone producer's ability to compete with cheaper Chinese rivals. The South Korean company has suffered at the hands of the recent slowdown in growth of the smartphone [...]
Germany’s Angela Merkel sends strong warning to US over spy claims July 7, 2014 German Chancellor Angela Merkel has spoken for the first time about an alleged double agent in the German intelligence community, claiming if true it would be “a clear contradiction of what I consider to be trusting co-operation” with the US. Speaking during a trade visit to China, her seventh since taking office in 2005, Merkel [...]
Wall St The Week Ahead: All eyes on Fed minutes for rate hike info July 6, 2014 WITH US stocks hitting record highs just before the Independence Day break last week on the back of strong jobs growth, the Bank for International Settlements – the global forum for central banks – said that markets were in a “euphoric” state and that keeping interest rates too low for too long could sow the [...]
Mercedes-Benz on track for a record year in sales July 4, 2014 German car manufacturer Mercedes-Benz is racing towards another record year, as it posted its strongest ever half-year sales. The automotive company's sales in the first six months of the year jumped by 12.8 per cent as it sold a total of 783,520 vehicles worldwide. “The first half of the year was extremely successful for us. [...]
Dairy Crest and Fonterra on the whey to China baby formula deal July 3, 2014 Cathedral City cheese maker Dairy Crest said yesterday it had struck a deal with New Zealand dairy giant Fonterra to tap into the £7bn Chinese baby formula market. The five-year deal will see Fonterra sell Dairy Crest’s whey – the key ingredient in baby formula and a by-product of cheese making – to fast growing [...]
$16,000: The amount it costs to get one person into the Chinese army July 2, 2014 Joining the army isn't a cheap matter in China. Limited spots and high demand mean that Chinese families end up forking out $16,000 for one child to pass the army entrance exam. China has the world's largest army, but it also has the world's biggest population, and young people from across the 31 municipalities have [...]
Asian manufacturing firms bouncing back after spring slump July 1, 2014 Two of Asia’s largest manufacturing sectors indicated more robust growth in June, with businesses in both China and Japan reporting an improved expansion last month. Data from Nomura and JMMA suggest that Japan’s manufacturing firms are bouncing back from their decline around April’s sales tax hike, with a purchasing managers’ index (PMI) score of 51.5. [...]
Russian markets take a hit as Ukraine ends truce July 1, 2014 Russian markets are taking a beating in the wake of Ukraine's decision to end the ceasefire with pro-Russian rebels. The Russian ruble has fallen sharply against the US dollar, with a 0.7 per cent slide. Meanwhile, Moscow's MICEX index dropped by 0.9 per cent after the announcement. Ukrainian President Petro Poroshenko said the renewed hostilities [...]
What the other papers say this morning – 01 July 2014 June 30, 2014 FINANCIAL TIMES EU slams US over Microsoft privacy A US attempt to force Microsoft to hand over emails held on servers in Ireland has drawn a strong rebuke from Brussels in one of the first tests of cross-border privacy raised by cloud computing. The US demand could contravene international law and should have been handled [...]
What the other papers say this morning – 30 June 2014 June 30, 2014 FINANCIAL TIMES Value of M&A hits $1.7 trillion Deal frenzy, animal spirits, merger mania – call it what you like, it is back. The value of global mergers and acquisitions hit $1.75tn in the first six months of the year, a 75 per cent rise on the same period last year and the highest since [...]