Vodafone revenues drop on competition in Germany and the UK July 19, 2013 Vodafone revenues have dropped by 3.5 per cent in the quarter ended 30 June as competition intensity has increased, with declines of 5.1 per cent in Germany and 4.5 per cent in the UK (release). Elsewhere, conditions in southern Europe resulted in revenues falling by 17.6 in Italy and 10.6 in Spain. Vittorio Colao, chief [...]
House prices hit record high in July July 19, 2013 UK house prices hit a record high in July, according to online real estate portal Rightmove, with sellers raising prices for the seventh consecutive month. The average asking price rose 0.3 per cent from June to £253,658 – up 4.8 per cent from July 2012. That’s £11,561 over the past year. London asking prices jumped [...]
Emerging financial centres to watch for a future career July 19, 2013 AS THE world’s leading financial centre, London is one of the best places in the world to work in finance. The Global Financial Centres Index (GFCI) 2013 gives London a rating of 807 – far ahead of rivals New York (787) and Hong Kong (761).But more cities are making their mark, and Richie Holliday of Morgan [...]
Fed’s Bernanke says that nobody really understands gold prices July 18, 2013 The Federal Reserve's Ben Bernanke has said that "nobody really understands gold prices and I don't pretend to understand them either" when asked by a member of Congress about the recent fall in the price tag of the precious metal. Bernanke said that a fall in the price of gold is not necessarily a thing, [...]
Fed’s Bernanke stresses that monetary policy has limitations July 18, 2013 Federal Reserve chairman Ben Bernanke has that "monetary policy is not a panacea" when it comes to low growth and high unemployment, and that "there is still room for congress to address these problems". "It's not my place or the federal reserve's place to force Congress to come to any particular outcome" — Ben Bernanke, [...]
FTSE surges upward to join US stock markets July 18, 2013 Following record breaking gains from US stock markets (the S&P also broke new highs shortly after posting), the FTSE is up over one per cent, driven by rallies in the Royal Bank of Scotland, Aberdeen Asset Management, Barclays and the London Stock Exchange. Lloyds Banking Group, Kingfisher and ASOS have also hit new highs. This [...]
US stocks hit record highs July 18, 2013 Source: Yahoo The US S&P 500 stock index came close to hitting its all time high of 1,687 today off the back of confidence over monetary policy, good results from Morgan Stanley, and good employment data out earlier. The Dow Jones index also briefly set a new all-time of 15,547.12. All-time high here in $SPY [...]
Dell buyout vote postponed to next week July 18, 2013 Dell has delayed its shareholder vote on the proposed takeover by founder Michael Dell to take the company private to 24 July. This will be a significant blow for Michael Dell, who may have to sweeten his $13.65-per-share offer. Reuters cited a source close to the matter reporting Michael Dell had managed to get several [...]
Shale gas downsides must be explored properly, says Green MP July 18, 2013 Shale gas has been attacked as a publicity stunt by the coalition, whose environmental impact, risks, level of public support, and actual economic benefits have not been properly explored. Heading up a debate in Westminster Hall, Green party MP for Brighton Pavilion Caroline Lucas said her opposition was not just environmental – quoting a statistic [...]
Morgan Stanley revises down US GDP forecast July 18, 2013 Morgan Stanley has cut its second quarter GDP forecast for the US to 0.3 per cent from 0.4 per cent. The unexpected fall in housing starts and permits in June was probably temporary, said economist Ted Wieseman, but enough to warrant cutting the outlook. After a 9.4 percent pullback from the February cycle high, single-family [...]