From stamp duty to the triple lock, Andy Haldane says bold Burnham leadership can usher ‘vibe change’ for UK economy
What the other papers say this morning – 27 June 2014 June 26, 2014 FINANCIAL TIMES GoPro soars on Nasdaq debut Shares in GoPro soared higher than the daredevil sports enthusiasts who use its action cameras as it made its stock market debut yesterday leaping more than 30 per cent to over $31 in its first morning of trading. The initial public offering is the biggest for a consumer [...]
Fund managers bearish about prospects for Chinese economy June 26, 2014 FUND managers are unconvinced about the potential for the Chinese economy this year, and a sizeable majority expect the country’s imports and exports to get worse as the summer gets underway. In a survey conducted by Capital Spreads and seen exclusively by City A.M, twothirds of the hundreds of fund managers surveyed expect that both [...]
Letters to the Editor – 27/06 – Global money, Airport options, Best of Twitter June 26, 2014 Global money [Re: Bretton Woods: How stable monetary order was created and then destroyed, Tuesday] An interesting historical article, but the author displays a misguided support for a fixed international monetary system. If a floating exchange rate system is associated with the global expansion of credit, the older order is associated with the inability of [...]
Martin Sorrell under fire as WPP clashes with investors June 25, 2014 Advertising titan WPP clashed with investors at its annual meeting yesterday after nearly 30 per cent of shareholders failed to support chief executive Sir Martin Sorrell’s £30m pay package. Sorrell’s total pay for 2013 shot up by 70 per cent, nearing to £29.8m, making him the highest paid executive in the FTSE 100. At the [...]
Minister keen to keep tough visa stance June 25, 2014 IMMIGRANTS’ success in the City will not persuade the government to end its crackdown on visitors to the UK, financial secretary to the Treasury Nicky Morgan said yesterday. Speaking at TheCityUK’s conference on Britain’s place in the EU, the MP said Ukip’s success in the European elections cannot be ignored, indicating the City’s needs will [...]
Treasury minister Nicky Morgan clashes with City on immigration June 25, 2014 Immigrants’ success in the City will not persuade the government to end its crackdown on visitors to the UK, financial secretary to the Treasury Nicky Morgan said today. Ukip’s success in the European elections cannot be ignored, the MP said, indicating the City’s needs will not be allowed to take priority over wider anti-immigrant [...]
BHP Billiton to cut thousands of mining jobs June 24, 2014 MINING giant BHP Billiton is looking to cut up to 3,000 jobs in its mining operations in Western Australia as it seeks to reduce costs, following the significant drop in the iron ore spot price of over 30 per cent so far this year. The London-listed resources group, which was one of the largest in [...]
East Asian manufacturing firms signal return to growth in June June 23, 2014 Industrial companies in China and Japan reported that business expansion had restarted again this month, after periods of stagnation and contraction. HSBC’s purchasing managers’ index (PMI) for the Chinese manufacturing sector registered a score of 50.8, above the mark that signals an expansion for the first time since the end of last year. [...]
China manufacturing sector shows first growth since December June 23, 2014 The Chinese manufacturing sector grew in June for the first time in six months, according to a report from HSBC/Markit. The growth drove up the price of commodities, with iron ore and copper futures among the risers. A rise in commodity prices is boosting the Australian mining sector, with shares in Rio Tinto, Fortesque Metals [...]
The perfect fit: Meet Girl Meets Dress co-founder Xavier de Lecaros Aquise June 23, 2014 Harriet Green talks true grit with Girl Meets Dress co-founder Xavier de Lecaros Aquise. Advocates of the sharing economy, otherwise known as collaborative consumption, claim that it is finally reaching a mainstream audience. Earlier this month, for example, the government announced reforms to outdated legislation, ending long-running questions over the legal status of ultra short-term [...]