Yahoo overtakes Google as most viewed website – now it just needs to make money from it August 22, 2013 Yahoo has overtaken Google as the site with the most traffic in the US, according to statistics from comScore. Unique visitors to Yahoo rose to 196.6m in July – up 21 per cent from the year before. Unique visitors to Google sites (including YouTube) increased by less than one per cent to 192.3m. Microsoft sites [...]
Rabobank reports drop in profits after “difficult first half” August 22, 2013 Dutch lender Rabobank has reported a 14 per cent drop in net profit in the first half of the year following slow growth in its home market and the provision for settlements with regulators over alleged interest rate manipulation (release). Net profit fell to €1.112bn (£950m) in the first six months of the year from [...]
Fitch maintains stable outlook on India despite signs of crisis August 22, 2013 Despite financial turmoil in India, ratings agency Fitch has maintained its stable outlook on the country's BBB- rating (release). We expect fiscal policy restraint to persist, in line with last year's result, with the budget deficit remaining within 5% of GDP. Indonesia's policy rates have been raised by 75bp since May, and the fiscal deficit [...]
Head of Eurogroup of finance ministers admits Greece will need more aid next year August 22, 2013 Jeroen Dijsselbloem – the Dutch official who leads the Eurogroup of finance ministers – has become the latest senior figure to admit that Greece will need a third bailout next year. Following remarks earlier this week by German finance minister Wolfgang Schauble and chancellor Angela Merkel, Dijsselbloem was quoted in the Het Financieele Dagblad newspaper [...]
Worrying slip in standards and popularity of science subjects on GCSE results day August 22, 2013 It's GCSE results day today, and an initial look at the statistics suggests there could be more disappointment this year, as the proportion of GCSE exam entries awarded top grades in the UK falls for the second year running – including a dramatic drop in science grades (release). The proportion of exam entries graded between [...]
Accountant RSM Tenon enters administration as part of sale to Baker Tilly August 22, 2013 Accountant RSM Tenon has entered administration as Baker Tilly is soon to acquire the firm's trading entitites (release) Given the scale of its debt the firm has had little choice but to declare itself insolvent, with three insolvency practitioners at Deloitte LLP appointed as joint administrators to the firm this morning. Immediately following their appointment, [...]
Output from UK car manufacturing industry accelerates in July August 22, 2013 UK car manufacturing grew by seven per cent in July, with sites across the country making 128,873 units, according to data form the Society of Motor Manufacturers and Traders (SMMT) (release). Of this figure, some 77.6 per cent were exported – down 4.8 percentage points from July 2012. For the year-to-date, manufacturing volumes have increased [...]
Fall in number of young people not in work, education or training in the UK flatlines August 22, 2013 The number of young people not in education, employment or training (NEET) was 1.09m in the three months to June 2013, according to data from the Office for National Statistics. This was virtually unchanged from the period January to March 2013, but down by 104,000 from the same period the year before. NEETs accounted for [...]
Eurozone recovery accelerates with fastest output growth in over two years August 22, 2013 Eurozone August figures are looking good in August, as Markit's composite purchasing manager's index (PMI) jumps from 50.5 to 51.7. Economists had predicted a rise to 50.9. The euro rose against the dollar on the news. Manufacturing PMI came in at 51.1 from 50.3 (50.6 expected) and services outperformed estimates too, 51.0 returning to growth [...]
IMI reports profit boost and expects better conditions in second half August 22, 2013 Global engineering group IMI – which makes valves and other equipment for controlling liquids and gas flows – has reported a four per cent increase in pre-tax profits in the first half of the year and an eight per cent boost in basic earnings per share. Pre-tax profits rose to £150.1m from £145.0m in the [...]