Are we now more physically active? Social desirability bias may explain more than the Olympics July 26, 2013 Surveys can be deceiving – and that's largely because of how we answer them. There may be more to the latest BBC/ComRes poll on the legacy of the Olympic games than meets the eye. While 11 per cent of respondents said they are now more physical active as a result of the games, can we [...]
UBS $885m settlement with US regulators strikes fear into European banks July 26, 2013 Swiss bank UBS will pay $885m (£575m) in a settlement with US regulators over allegations it misrepresented mortage-backed bonds during the housing bubble, it was announced today. The Federal Housing Finance Agency (FHFA), which oversees state-sponsored housing enterprises Fannie Mae and Freddie Mac, said that UBS would pay $415m to Fannie May and $470m to [...]
Vimto owner encouraged to bid for Ribena and Lucozade July 26, 2013 Nichols, the company behind the Vimto soft drink brand, is reportedly being encouraged by GlaxoSmithKline to launch a joint bid with private equity firms for Lucozade and Ribena, which would make it one of the UK’s biggest beverage groups. In a statement to Sky News, Nichols said: We are monitoring the sale of GSK’s drinks [...]
Irish central bank slashes forecasts and calls to resist easing deficit reduction plans July 26, 2013 The Central Bank of Ireland has slashed growth forecasts for 2013, cutting them from 1.2 per cent to 0.7 per cent (release). The 2012 data, along with the preliminary data for the first quarter of 2013 suggest a relatively muted recovery in activity this year. GDP growth of 0.7 per cent is now projected for [...]
Eurogroup ministers sign off Greek aid July 26, 2013 Ministers this morning signed off the next tranche of aid to Greece, following delays related to a missed conditional policy on labour mobility. European Commission spokesperson Simon O'Connor tweeted the news: #EWG green light for #Greece: €2.5bn from EFSF, €1.5bn SMP income to be dibursed subject to completion of national procedures on Monday. — Simon [...]
ITV acquires Shaun of the Dead producer July 26, 2013 ITV has announced it has acquired 100 per cent of Big Talk Productions, producer of programmes like Friday Night Dinner and Him & Her, as well as films like Shaun of the Dead, Hot Fuzz and The World’s End. ITV will pay an initial cash consideration and further capped cash payments depending on Big Talk's [...]
Abe says election win will help Japan deliver decisive “third arrow” reforms July 26, 2013 Japanese prime minister Shinzo Abe has said the revolving door of politics is over and promised greater certainty on economic reform, following his parliamentary upper house election win last week. Speaking at the 33rd Singapore lecture on economics and relations with southeast Asia, Abe said he would focus on the “third arrow” of reform in [...]
Restructuring charges drag down Pearson profits July 26, 2013 British publisher Pearson has reported a 26 per cent drop in adjusted operating profit to £137m following £27m of gross resturcutring charges and investment in new product launches. Adjusted earnings per share fell to 4.9 pence from 9.9 pence, below analyst expectations of 10.6 pence. However, sales showed a strong five per cent growth, coming [...]
Three charts: French consumer confidence up, expected unemployment down, and inflation fears resurface July 26, 2013 (Source: INSEE) French consumer confidence has risen from 79 (revised from 78) to 82 in July, while economists forecast just a one point increase from that unrevised figure to 79 (release). In July, households were largely less numerous than in June to forecast an increase in unemployment. The corresponding balance lost 17 points and reached [...]
Before the open – 26/07 July 26, 2013 The FTSE is expected up slightly after a strong US earnings season yesterday. Grant Lewis, Daiwa Capital Markets: Yet more good data vindicating Abenomics overnight, with the latest CPI data coming in a little stronger than expected. Headline national CPI came in at 0.2%Y/Y in June, taking this index back into positive territory for the [...]