Lagarde mulls ending central bank freedom April 14, 2014 CENTRAL banks are gaining so many new powers that it is time to consider ending their independence from government control, International Monetary Fund (IMF) boss Christine Lagarde indicated yesterday. This would represent a major shift in central banking, which has been given credibility by its freedom from politicians since – in the UK’s case – [...]
Draghi could print money to prop up Euro April 14, 2014 THE European Central Bank will ease monetary policy further if the euro keeps strengthening, President Mario Draghi said over the weekend as world finance chiefs ramped up pressure on Europe to ward off deflation. “The strengthening of the exchange rate would require further monetary policy accommodation,” he said.
Cameron: Don’t trust extremist Farage or Clegg April 10, 2014 DAVID Cameron has urged voters to reject “extremist” Ukip and the Liberal Democrats in the European elections, positioning his party as the only option for those who want real change. Promising a stronger economy at home and greater respect abroad, the Prime Minister set out his stall with six weeks to go before the EU [...]
Bottom Line: Bolland must use his breathing space wisely April 10, 2014 MARKS & Spencer’s boss Marc Bolland usually looks pretty pleased with himself, but yesterday his proud smile was somewhat justified. By posting the retailer’s best clothing performance in three years – based on an improvement in its crucial womenswear lines – Bolland has proved the critics wrong, pulling something that looks like the start of [...]
Bolland’s bought more time, but what does M&S need now? April 10, 2014 The trading update from high street staple Marks & Spencer has been described by stockbroker Shore Capital as “frankly, quite mellow”. The encouraging figure was for clothing sales, which rose 1.3 per cent and 0.6 per cent on a like-for-like basis in the first quarter of 2014. The group reported sales up 1.9 per cent, [...]
M&S sees clothes sales rise but Bolland still cautious April 10, 2014 A glimmer of hope for high street store Marks & Spencer. The retailer’s reported that clothing sales rose 1.3 per cent in the first part of 2014, up 0.6 per cent like-for-like. General merchandise saw group sales up a modest 0.2 per cent in the 13 weeks to the end of March, but still declining [...]
The One to Watch: Rising star Sajid Javid joins the cabinet April 9, 2014 SAJID Javid has been named as the new culture secretary. He is the first-ever Asian man to join the UK cabinet, and replaces Maria Miller, who resigned yesterday over public anger at her expenses. The son of a bus driver, and a former managing director at Deutsche Bank, Javid is a rising Tory star. First [...]
Billionaire Mike Ashley offloads a £218m stake in Sports Direct April 7, 2014 SPORTS Direct founder Mike Ashley is to sell £218m of his majority stake in the retailer in the latest twist in a series of events that saw him snap up a stake in House of Fraser just days ago. Ashley is selling up to 25m shares in Sports Direct through an accelerated bookbuilding run by [...]
He’s back: Star stockpicker Neil Woodford returns to City in spectacular style April 3, 2014 THE MOST celebrated stock market guru in Britain made a bold step back into the fray yesterday after clinching a deal to manage more than £3.5bn of cash from one of the country’s biggest wealth managers. Money manager Neil Woodford, whose investment prowess would have turned £1,000 of cash in 1990 into £23,265 today, has [...]
FCA boss Wheatley says he won’t quit over insurance blunder April 1, 2014 Martin Wheatley is not intending to step down as chief executive of the Financial Conduct Authority after last week’s embarrassing episode when it bungled an announcement on a new insurance probe. The regulator is investigating the fees and charges faced by savers with policies dating back forty years. The announcement saw shares in insurers plummet [...]