JP Morgan joins forces with pharma giants to lead $100m dementia fund March 17, 2015 JP Morgan has partnered with the UK government to launch a new multimillion pound fund to encourage research into treatment for dementia. The New York-based investment bank said it had been working with the government to structure the Dementia Discovery Fund in such a way that it would make a profit for investors while funding research [...]
Backing the USA: Dollar climbs as investors buy into recovery March 11, 2015 Amid much talk of a US rate hike, Chris Papadopoullos asks if it will happen as quickly as some think The Federal Reserve has a way with words. Last year, it prompted mass market confusion by saying it would wait for a “considerable time” before hiking interest rates. In December, it ditched the term and [...]
There’s very little evidence that you can shrink government by expanding it March 9, 2015 The battle for the soul of the Conservative party post-election has already begun. This week, commentator and conservative activist Tim Montgomerie will officially launch his new agenda – “The Good Right” – a self-styled “compassionate conservative” call to arms for the Tories to become that bit less libertarian and that bit more willing to embrace [...]
UK’s recovery feeds through to pay increases March 9, 2015 BRITAIN’S small firms are increasingly confident, leading to more hiring and to pay increases, according to a study out today from the Federation of Small Businesses (FSB). More businesses reported rising revenues than said their incomes were falling, by a margin of 19.5 per cent in the first quarter. And a net balance of 12.5 [...]
Low pay and inflation deter rate hike March 4, 2015 CITY A.M.’s panel of economists voted seven to two to hold the Bank of England’s base rate at 0.5 per cent this month. This week’s guest chair, former UK rate-setter David Blanchflower, highlighted the fact that the next move in interest rates could be a downward one. The Bank has said lowering rates is now possible [...]
UK house prices fall by average of £482 in another signal the property market is cooling March 2, 2015 House prices have fallen for the first time in five months as annual growth in the property market slowed to its lowest rate since September 2013 – yet another signal the market is losing steam. The latest figures from Nationwide show house prices fell 0.1 per cent in February compared to a 0.3 per cent [...]
After the record high FTSE falls on Weir warning – London Report February 25, 2015 THE FTSE 100 yesterday retreated from the previous session’s record high, with engineer Weir Group leading the market lower after warning about a significant drop in its revenue in the current year. The blue chip index closed down 14.25 points, or 0.2 per cent at 6,935.38 points after setting a new record high of 6,958.89 [...]
FTSE stripped of £2.7bn by strong sterling February 22, 2015 The FTSE 350 was hit hard by the high pound in 2014, losing in excess of £2.7bn in sales, according to new analysis. For companies on the index with full year results with year ends up to the end of September, annual revenues on a like-for-like basis were down 1.7 per cent on the same [...]
Three reasons $10 oil is a very real possibility February 18, 2015 After a couple of weeks of rises during which oil prices gained 35 per cent, today they fell back by $1 to $61 per barrel, as investors showed renewed concern about a glut in the global supply of oil. Brent crude, the global benchmark, hit a six-year low of $45.19 in January – and the [...]
Wood Group hit by oil price drop so will cut $30m February 17, 2015 Aberdeen-based energy service company Wood Group expects to cut back on $30m (£19.5m) worth of expenses in 2015. The company yesterday reported a rise in profit of little under three per cent to $424.4m and saw its revenue go up by 7.8 per cent in 2014. An internal focus on efficiency will help Wood Group [...]