India’s Modi is being put on a pedestal – and he’s got a long way to fall May 20, 2014 Indian businesses are jubilant about the result of the Indian election, which returned Narendra Modi as the country’s next Prime Minister – MNI’s business sentiment indicator shot up from 61.9 in April to 67 this month (the highest in two years), when it became clear that Modi would take the crown. Anything above 50 signals [...]
Russia and Ukraine weigh on ITE May 19, 2014 Exhibitions firm ITE Group reported a 64 per cent boost in profits to £18.2m during the six months to March, but warned it expects a lower level of growth in its key Russian and Ukraine markets for the rest of the year due to political uncertainty in the region. “The group experienced mixed trading conditions [...]
What you need to know before the US open May 19, 2014 US stocks are expected to open lower today, following the distinctly choppy trading seen last week. Trading in government bonds continues to be solid, with nothing in the way of economic data to provide a guiding light for equity and fixed-income markets. The Fed’s April meeting minutes are due Wednesday, with some numbers from US [...]
What the other papers say this morning – 19 May 2014 May 19, 2014 FINANCIAL TIMES Facebook ready to take on Snapchat Facebook is going head to head with rival Snapchat in the video-chat app market as the social networking group scrambles to win back users from the popular ephemeral messaging app. Facebook has been working for several months on the app, known internally as Slingshot, with a simple [...]
Vodafone divi takes payouts to new record May 19, 2014 VODAFONE’S world record dividend payout to investors took global payments to a new high last quarter, as ongoing unrest in Ukraine slashed dividends at Russian firms by more than a half, new research claims. The telecoms giant made a special $26bn (£14.5bn) payment to investors on the back of its Verizon Wireless deal, taking the [...]
Ovo increases its bills by 3pc May 15, 2014 INDEPENDENT supplier Ovo Energy yesterday said it would be raising its prices for new and renewing customers by three per cent, due to a spike in wholesale prices in April. The average annual dual fuel bill will now cost £1,028. The Ukraine crisis caused gas prices to rise temporarily, due to concerns that Russia would [...]
Letters to the Editor – 16/05 – Monetary dark age, Best of Twitter May 15, 2014 Monetary dark age [Re: The real world looks much less rosy than the Bank of England’s forecasts, yesterday] This is a dark age for macroeconomics. The likes of Mark Carney are concerned with communication but have forgotten that the maximum impact of an interest rate increase occurs within 12-18 months. If this is appreciated, then the [...]
Britain storm into European final May 15, 2014 GYMNASTICS: Great Britain shocked reigning European Champions Russia by qualifying for tomorrow’s team Artistic Gymnastics final in Bulgaria ahead of them. The five-strong squad topped the standings and are now bidding to win only Britain’s second ever European team medal following their combined effort to win silver in 2010.
Ovo Energy’s price hike shows hedging isn’t always bad for the customer May 15, 2014 Independent energy supplier Ovo Energy announced today that it would be increasing its prices by three per cent for new and renewing customers, bringing the average annual dual fuel bill up to £1,028. It blamed the price hike on an “upward move in wholesale commodity costs in April”, but bearing in mind SSE’s recent price [...]
Ukraine crisis and warm weather hammer EU-Russia trade May 15, 2014 Trade between Russia and the EU slumped in the first three months of 2014, according to figures to be released by Eurostat on Friday, reports Euractiv. EU imports from Russia dropped nine per cent in the first quarter compared to the same period last year, with the volume of Russian imports standing at €49bn (£40bn), [...]