Tate and Lyle’s cut outlook sends shares crashing 17pc February 13, 2014 Tate and Lyle has scaled back its financial outlook for 2014, sending shares tumbling almost 17 per cent. Like Rolls Royce, the sweetener and ingredients supplier has said that it expects no profit growth this financial year, as growth seen in emerging markets was offset by “softness in developed ones”. Last financial year, adjusted profit was [...]
London Report: FTSE spurred to three-week high by Chinese data February 12, 2014 THE UK’S top share index reached a three-week closing high yesterday, buoyed by miners, after top metals consumer China reported robust trade data. Mining companies are recovering from a sharp decline in 2013, after a sector-wide drive to offset falling metals demand with cuts in spending. They got a boost yesterday from the fresh evidence [...]
New York Report: Wall St ticks up as US investors turn positive February 12, 2014 World stock markets edged up for a sixth straight session on Wednesday after upbeat trade data from China soothed worries about slower global growth, while the pound rose to a two-week high against the dollar. The Dow and S&P 500 closed down slightly, however, snapping four days of gains after Procter & Gamble, the world’s [...]
What you need to know before the US open – 12/02 February 12, 2014 Dovish comments from Janet Yellen and a 10.6 per cent increase in Chinese exports in January has buoyed European bourses, and will likely do the same to US counterparts. Over on this side of the pond, Mark Carney had a stab at wriggling out of employment-based guidance – something Yellen did a better job at [...]
What you need to know before the open – 12/02 February 12, 2014 Janet Yellen’s dovish comments yesterday left markets upbeat. Today, European markets await the Bank of England’s inflation report. ETX Capital #MorningCall FTSE +16, DAX +40, CAC +13, IBEX +52, SP +1, DOW -8 — ETX Capital (@ETXCapital) February 12, 2014 The crucial question is whether governor Mark Carney quietly does away with the [...]
China scuppers hopes for more Hollywood films in 2014 February 11, 2014 China has quashed hopes that it’d up access for US films this year, as state news agency Xinhua reports the country will maintain its exacting quota for the number of Hollywood films it imports. Last week, the Hollywood Reporter cited a source claiming China’s film bureau was chewing over increasing its yearly quota from 34 [...]
UBS suspends two bankers in hiring probe… February 10, 2014 SWISS bank UBS has put two bankers on leave as part of an internal investigation into the hiring of a close relative connected to a potential Chinese corporate client. The move comes after US federal officials launched a separate probe into employment practices at JP Morgan Chase, reviewing the circumstances behind the US bank’s hiring [...]
Globalisation lay behind the Eurozone crisis – but it has also rescued the euro February 10, 2014 THE ARCHITECTS of the European single currency apparently paid little heed to globalisation or the rise of China. The Delors Report in 1989, which set up economic and monetary union in Europe, didn’t mention either of them. Nor did the first official European proposal for monetary union, the Werner Plan in 1970. In retrospect this [...]
Diversity is great – but quotas for corporates are not the right answer February 10, 2014 THERE are only ten individuals from ethnic minority groups among the 289 top executives at FTSE 100 listed companies, a study by Green Park Diversity Analytics has found. Chuka Umunna, the shadow business secretary, is accordingly threatening that Labour would introduce quotas to get more minority directors on boards. Given the campaign for more women [...]
Asian markets rise but Japanese confidence hits 14-month low February 10, 2014 Asian markets have so far made modest gains after Wall Street kept its cool in the wake of a poorer-than-expected jobs report. However, investors remained cautious owing to significant event risk in the near future. Confidence amongst Japanese households also fell for a second successive month in January, according to figures released by the Cabinet [...]