Gold bulls push back in wake of US debt figures October 21, 2013 According to CNBC's latest poll of traders, analysts and strategists, gold is set to rise in price over the course of the week. 52 per cent expect gold to rise this week with 39 per cent expecting a decline. Just nine per cent believe gold will trade around current levels. IG Markets' positioning data of [...]
Ed Davey defends state-subsidised EDF-Chinese nuclear reactors October 21, 2013 The British government and French utilities company EDF have signed a deal to build two nuclear reactors totalling £16bn at Hinkley, Somerset. The new reactors will be built at Hinkley Point C, with the assistance of EDF's Chinese partners, China General Nuclear Power Group and China National Nuclear Corporation. The Department for Energy and Climate [...]
Legoland operator plans float with 30 per cent ticket discounts for shareholders October 21, 2013 UK theme park operator, Merlin entertainments has announced plans for an initial public offering. The company will apply for admission of its shares to the premium segment of UK Listing Authority and to trade on the market of the London Stock Exchange. Merlin operates 99 attractions including Alton Towers, Thorpe Park and Legoland. In 2012 [...]
Npower announces 11.1 per cent gas bill increase October 21, 2013 Electricity supplier Npower has announced that it will raise gas prices by 11.1 per cent. Dual fuel bills will increase by 10.4 per cent. Electricty prices will rise by 9.3 per cent (release). Those increases will take effect on 1 December, and will see the typical dual fuel bill rise to £1,459. Last year Npower [...]
Lift for Heathrow as 2013 sees profit rise October 21, 2013 Heathrow has announced a 22.1 per cent rise in earnings today, encouraged by higher passenger numbers. (Release) Profit before tax was at £266m for the nine months to 30 September. For the same period last year, the figure stood at £112m. Traffic performance was up 3.6 per cent to 54.8m passengers. Chief executive Colin Matthews [...]
Co-op Bank PPI bill set to go higher as it sets aside further £100m for conduct costs October 21, 2013 The troubled Co-operative Bank has made a reassessment of its expected future conduct costs, and has increased its provisions by £100-105m accordingly (release). That money should cover the "future costs of PPI redress, arrears charges and the processing of certain mortgage interest 'first payments'". Banks have so far set aside £16bn to deal with PPI [...]
What you need to know before the open – 21/10 October 21, 2013 With US data restarting this week, it's back to business as usual. A record week for US markets last week, we also saw European counterparts looking positive. *Nikkei Ends Up 0.9% at 14,693.57 underpinned by a strong performance on Wall Street and expectations Fed will delay trimming its stimulus. — Holger Zschaepitz (@Schuldensuehner) October 21, [...]
$13,000,000,000 fine for JP Morgan October 21, 2013 JP Morgan agrees record fine but could still face criminal claims JP MORGAN is facing a record $13bn (£8bn) bill to settle mortgage market claims with US regulators this week – but even the record payment is not expected to be enough to stop criminal cases being brought. The unprecedented payment is expected to cover [...]
Social networking October 21, 2013 Developing an online presence can give your career a boost. Just beware the pitfalls, says Steve Irish EVERY business worth its salt knows the potential benefits of using social media. But individuals can also use them as a platform for career progression. “Your online footprint is an increasingly significant factor in your career,” says internet [...]
As Google shares pass $1,000 analysts says the company remains a top pick October 18, 2013 Shares in internet giant Google have passed the $1,000 mark after unveiling stunning results last night. Google beat expectations with net profits growing by 36 per cent to $2.97bn (£1.2bn) in the three months to 30 September. That number was well ahead of consensus profit forecasts. Those results have seen Google add over $35bn to [...]