London Report: FTSE 100 rises to October high amid debt talks October 15, 2013 THE UK’S top share index rose to its highest level so far in October yesterday, buoyed by signs of a deal on the US budget and debt ceiling stalemate that has weighed on stock markets. Miners and banks were lifted after US Senate Majority Leader Harry Reid, a Democrat, said Senate leaders had made “tremendous [...]
What the other papers say this morning – 15 October 2013 October 14, 2013 FINANCIAL TIMES Twitter aims to sell ads on other sites Twitter is planning to mine data about its users to help sell advertising on other mobile apps or websites, as it tries to find new sources of revenue in the run up to a stock market listing that could value the company at $15bn. Moscow [...]
PSA shares slump on reports of capital talks with Dongfeng October 14, 2013 SHARES in PSA Peugeot Citroen fell as much as 10 per cent yesterday after reports it was preparing a €3bn (£2.5bn) capital increase in which Chinese partner Dongfeng and the French state would secure stakes in it. A draft agreement, which Peugeot hopes to conclude this year, would envisage state-owned Dongfeng Motor and the French [...]
London Report: FTSE led higher by new Johnson Matthey boost October 14, 2013 THE FTSE 100 inched higher yesterday, led by catalytic converter maker Johnson Matthey on the back of an analyst rating upgrade, while the slow progress in US debt talks kept any broad market gains in check. The FTSE 100 closed up by 20.46 points, or 0.3 per cent, to 6,507.65 points, having climbed 2.4 per [...]
DailyFX: Analyst picks October 14, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short dollar-yen, waiting on Aussie-yen direction Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks Dollar-yen remains highly volatile and susceptible to further instability thanks to US fiscal deadlock – at a bare minimum, a short-term resolution to lift the debt [...]
What the other papers say this morning – 14 October 2013 October 13, 2013 FINANCIAL TIMES Tory plan to raise allowance to £12,500 Senior Conservative politicians are drawing up plans to raise the personal tax allowance to £12,500 as a key election pledge in 2015. Top party officials believe the move will enable the Tories to claim they are tackling the cost of living crisis by taking low earners [...]
What the other papers say this morning – 11 October 2013 October 10, 2013 FINANCIAL TIMES New York Fed sued over Goldman A former bank examiner filed a suit against the Federal Reserve Bank of New York, claiming she was fired after criticising Goldman Sachs for its policies on managing conflicts of interest. Carmen Segarra is suing the New York Fed and three of its officials in federal court [...]
Melrose sells off two US firms to KKR for £630m October 10, 2013 ENGINEERING turnaround specialist Melrose Industries yesterday said it has agreed to sell lifting equipment company The Crosby Group and material handling equipment maker Acco Material Handling Solutions to private equity powerhouse KKR for approximately $1bn (£630m). The deal value is at the top of the expected range and is payable in cash on completion. The [...]
Renminbi comes to Europe as central banks arrange swap line October 10, 2013 THE PEOPLE’S Bank of China (PBoC) announced yesterday that it has successfully inked a swap arrangement with the European Central Bank (ECB). The move represents the latest stage of the renminbi’s transition to an international currency, as the growth of China’s economy requires the expansion of the use of its currency. Although the currency is not [...]
What the other papers say this morning – 10 October 2013 October 9, 2013 FINANCIAL TIMES Outsourced contractors face blacklist Ministers will be able to blacklist contractors who provide substandard services for the first time under rules set to be ratified by the European Union within weeks. The government has been pressing for the measures in the wake of G4S’s failure to provide security guards at the Olympics and [...]