Eurozone QE: Why and how Draghi may pull the trigger April 14, 2014 The ECB will opt for a massive sum to force the euro down DESPITE the strongest signs yet that the European Central Bank (ECB) will act to tackle disinflation, markets remain unconvinced. ECB president Mario Draghi, speaking on Saturday, said that a continued strengthening of the euro (which the ECB believes has knocked up to [...]
How BHS’ food offerings could unseat Asda and Morrisons March 24, 2014 Sir Philip Green has come knocking at the major supermarkets’ door with plans to launch the first trial food outlet within a BHS department store this week. The retail tycoon, who is eyeing around 150 openings, aims “to be competitive” within the convenience food sector and undercut the big four by around 10 per cent [...]
Former BP man to keep watch on major government projects February 3, 2014 A FORMER BP executive has been drafted in to lead the government group keeping tabs on High Speed 2 and other big building work. John Manzoni, most recently head of Talisman Energy, will take over the Major Projects Authority and its mandate to tackle poor project management in the public sector. The MPA, set up [...]
City Moves for 14 March 2014 | Who’s switching jobs March 13, 2014 Ashcourt Rowan The asset management firm has hired Chris Legge as head of intermediary services. He was most recently at Brewin Dolphin, where he was intermediary business development manager. Prior to that, Legge held roles at Gerrard Investment Management. KPMG The professional services firm has announced two appointments. Navdeep Arora will lead its insurance strategy [...]
Kingfisher returns £200m to shareholders March 25, 2014 KINGFISHER, the owner of DIY chains B&Q and Screwfix, announced plans to hand £200m to shareholders as brighter prospects in the UK helped boost its full-year performance, sending shares up six per cent yesterday. Finance director Karen Witts said it will launch a multi-year programme starting with £200m in this financial year – its first [...]
The cost of living crisis isn’t over – but Ed Miliband still won’t solve it April 21, 2014 PAY GROWTH at 1.7 per cent, inflation at 1.6 per cent on the consumer price index (CPI), real wages increasing. One commentator stated this was the coalition’s “mission accomplished” moment. People are starting to get better off after years of falling real wages, so the argument goes. Surely this is proof that the government’s “long-term [...]
The world’s biggest banana company: Fyffes and Chiquita to merge March 10, 2014 Some banana news this morning. Fyffes and Chiquita, two of the world’s largest banana companies, have announced they’re combining. Fyffes shares have rocketed an astonishing 26 per cent on the news. Source: Google The company will be named ChiquitaFyffes (best not to attempt that with a mouthful of banana), and will operate in [...]
Pru joins Legal and General in building spree January 26, 2014 THE PRUDENTIAL is financing the construction of 1,000 new homes to be built by housing associations, the insurer said over the weekend. The scheme follows Legal and General’s announcement last week that it is willing to spend £5bn over the next decade building five new towns across the country. And the plan comes as the [...]
Crest Nicholson profits jump in first results since market return January 28, 2014 GOVERNMENT measures to boost the housing market helped Crest Nicholson deliver a 40 per cent rise in profits yesterday, in its first set of results since returning to the stock market last year. The housebuilder said profits rose to £86.8m in the year to 31 October, up from £62.1m the previous year. The rise prompted [...]
Carney to act on foreign risks to Britain’s banks January 13, 2014 BRITISH banks will have to build up bigger capital buffers against foreign loans if the Bank of England deems the other nations to be experiencing bubbles, the financial policy committee (FPC) said yesterday. The Bank of England argued that if it could have cut banks’ exposures to US sub-prime mortgages, the credit crunch may have [...]