Bitcoin’s success hinges on the rule of law says Canadian think tank May 29, 2014 The success or failure of the world's favourite cyrptocurrency depends on its legal status, according to a research note from the Montreal Economic Institute (MEI). Examining a host of countries that have implemented regulatory frameworks regarding Bitcoin, MEI find there are three factors which are critical to the success of the digital currency. First, users [...]
B&Q owner Kingfisher’s shares are tumbling. Here’s why May 29, 2014 Kingfisher shares have shed 6.1 per cent, despite the home improvements retailer announcing a £100m special dividend this morning. Like-for-like sales at B&Q jumped 9.7 per cent to £1bn in the first quarter, with Screwfix seeing a 12 per cent increase, to £192m. But investors may not have been so filled with confidence over the [...]
Bottom Line: Drugs keep a smile on the market’s face May 28, 2014 WITH the Glaxosmithkline (GSK) share price falling only 1.59 per cent, the market seems pretty sanguine about the announcement of an SFO investigation. That shouldn’t be too surprising. While the SFO has the power to levy unlimited fines in the most extreme cases, with so little detail the gravity of this investigation is not yet [...]
Asian markets climb higher after positive US data May 28, 2014 Asian markets are up this morning after a slew of positive economic data from the US and rising Chinese industrial profits. Data released yesterday showed a surprise increase in US durable goods orders in April of 0.8 per cent – the consensus had been for a 0.5 per cent fall. Consumer confidence and home prices [...]
Chinese forecast to smoke half of the world’s cigarettes by 2018 May 27, 2014 CIGARETTE sales volumes have continued to decline in most top global markets, while e-cigarettes sales have potential for high growth according to new data from the global market research company Euromonitor International. Seven of the top 10 global markets showed declines in volumes in 2013, leading to an overall four per cent decline in world [...]
Sony will set up joint venture to sell PS4 in China May 27, 2014 SONY, the Japanese technology giant, has signed a partnership to begin manufacturing and selling its PlayStation 4 console in mainland China. The joint venture with Shanghai-listed Shanghai Oriental Pearl was announced in a stock exchange filing by the state-controlled Chinese media company yesterday. The joint ventures, which will be located in Shanghai’s free trade zone, [...]
What the other papers say this morning – 27 May 2014 May 27, 2014 FINANCIAL TIMES Apple readies “smart home” platform Apple is readying a new software platform that would turn the iPhone into a remote control for lights, security systems and other household appliances, as part of a move into the “internet of things”. Apple plans to take on rivals Google and Samsung and make a “big play” [...]
Sony will set up joint venture to sell PS4 in China May 27, 2014 SONY, the Japanese technology giant, has signed a partnership to begin manufacturing and selling its PlayStation 4 console in mainland China. The joint venture with Shanghai-listed Shanghai Oriental Pearl was announced in a stock exchange filing by the state-controlled Chinese media company yesterday. The joint ventures, which will be located in Shanghai’s free trade zone, [...]
Chinese factory decline slows May 22, 2014 CHINA’S powerful industrial base slowed only slightly this month, according to HSBC’s index of the country’s manufacturers – which revealed the best performance since September. The purchasing managers’ index (PMI) reading for Chinese factories rose to 49.7 yesterday, very narrowly below the neutral 50 mark, indicating a slight contraction for the fifth month. Analysts had [...]
New York Report: Wall Street up after biotech stocks surge May 22, 2014 WALL Street ended higher for the second straight session yesterday, led by small-cap stocks, while the Nasdaq climbed on a rally in biotech shares. The Dow Jones industrial average rose 10.02 points or 0.06 per cent, to end at 16,543.08. The S&P 500 gained 4.46 points or 0.24 per cent, to 1,892.49. The Nasdaq Composite [...]