Mass strikes cause chaos across Greece December 13, 2010 GREEK public transport and media workers launched a week of anti-austerity strikes yesterday expected to ground flights, disrupt services and pile rubbish on the streets in the run-up to Christmas holidays. Parliament began discussing a bill to cap wages at state-run firms and introduce company-level wage bargaining in the private sector, both key elements in [...]
WHISKY, JAZZ, AND BETTING ON THE EURO February 16, 2011 WITH whisky tasting, a jazz band and the chance to win a sports car for the weekend on offer, WorldSpreads winter party (definitely not just a late Christmas do) was the place to be in the City on Tuesday night. Held in a candlelit crypt underneath St Etheldreda’s church near Chancery Lane, the night saw [...]
PM’S GAGS HAS HACKS ROLLING IN THE AISLES November 24, 2010 SEVERAL dozen political hacks were yesterday treated to an unusual dinner guest as David Cameron became the first serving Prime Minister to attend their regular parliamentary lunch club in 31 years. Asked about how he saw his role, he gave a concise summary of his prime ministerial style: “I see myself as more of a [...]
JJB warns it may breach debt facilities December 2, 2010 JJB SPORTS warned yesterday it could breach the financial covenants of its £25m revolving credit facility with Bank of Scotland (BoS) by the end of January next year citing continued difficult trading conditions as the main reason. The trading statement comes less than a month after the firm, which employs 6,300 staff nationwide, put out [...]
JJB warns it may breach debt facilities December 2, 2010 JJB SPORTS warned yesterday it could breach the financial covenants of its £25m revolving credit facility with Bank of Scotland (BoS) by the end of January next year citing continued difficult trading conditions as the main reason. The trading statement comes less than a month after the firm, which employs 6,300 staff nationwide, put out [...]
National Grid expects record gas usage to ease this week December 20, 2010 THE NATIONAL Grid has reassured customers that gas and electricity supplies are more than enough to meet demand, despite record usage yesterday forcing it to issue a supply alert. The utility issued a gas balancing alert for yesterday and today, which allows its to redirect power from industrial users to help fuel homes and switch [...]
Ferrovial returns to BAA talks January 13, 2011 SPAIN’S Ferrovial is in talks with investors to sell 10 per cent of UK airport operator BAA, which runs London’s Heathrow, by June, its chief executive said, in a move to halve a €24.5bn (£20.5bn) debt pile. Ferrovial will seek offers for the stake, estimated last year to be worth about €200m, in the last [...]
SPREAD BET GURU November 28, 2010 MARKET STRATEGIST josh@cityindex.com Q.Dear Josh, is the Christmas rally a myth? A.Historically at least, a Christmas rally is by no means a myth. The last 10 years have seen the FTSE 100 rally nine times in the month of December, with an average rally of 3 per cent. The only year where the index actually [...]
SPREAD BET GURU November 28, 2010 MARKET STRATEGIST josh@cityindex.com Q.Dear Josh, is the Christmas rally a myth? A.Historically at least, a Christmas rally is by no means a myth. The last 10 years have seen the FTSE 100 rally nine times in the month of December, with an average rally of 3 per cent. The only year where the index actually [...]
Spotify forced to postpone US plans December 9, 2010 MUSIC streaming firm Spotify has admitted it will not realise its ambitions of launching in the US before Christmas. The firm said as recently as last month it would meet the target despite failing to sign agreements with all of the big four US labels. But founder and chief executive Daniel Ek said yesterday he [...]