Greek debt crisis: The economy won’t start growing until 2017 October 5, 2015 The Greek government unveiled a dismal 2016 budget today. The The draft budget forecasts that the country's economy will shrink by 2.3 per cent this year, staying in recession in 2016 with a 1.3 per cent contraction, before returning to growth in 2017. It was released as Prime Minister Alexis Tsipras delivered his keynote four-year policy programme to [...]
LinkedIn owes users $13m for sending too many annoying emails October 5, 2015 “Hi, I’d like to add you to my professional network on LinkedIn.” If you’ve ever signed up for LinkedIn, chances are you are more than familiar with the never-ending stream of emails coming from contacts. So many, in fact, and so annoying, that a US judge has ruled that LinkedIn must pay out compensation to [...]
Oil price rises after Russia says it’s mulling talks with Opec October 5, 2015 Brent crude posted its biggest intra-day gain in more than two weeks today amid comments from Russia over potential talks with Organization of Petroleum Exporting Countries (Opec) and non-Opec members. Russia's energy minister, Alexander Novak, said that the country was ready to take part in such a meeting to discuss the state of global markets. Russia [...]
US ISM non-manufacturing cools off after hot summer October 5, 2015 A closely watched indicator of the health of the US economy has fallen back to moderate levels after rocketing over summer, but the figures also show robust strengthening in the jobs market. The Institute for Supply Management’s (ISM) purchasing managers’ index (PMI) for non-manufacturing sectors dropped to a score of 56 for figures released this [...]
APR Energy share price soars amid takeover talks October 5, 2015 Shares in struggling temporary power provider APR Energy shot up as much as 90 per cent today after the company revealed it was in takeover talks. The London-listed firm, which rents out turbines and generators, usually in developing countries, said it was in talks with a group of investors comprising Fairfax Financial, Acon Investments, and Albright Capital [...]
The UK is the e-commerce capital of the EU with four in five Britons shopping online in past year October 5, 2015 UK consumers are more likely to do their shopping online than any other EU country. Four in five Britons made a purchase online last year, new e-commerce figures from the Office for National Statistics (ONS) have shown. This puts us top among all EU countries, well above the average of 50 per cent. We share [...]
American Apparel files for bankruptcy to cut down debts October 5, 2015 US clothing retailer American Apparel has filed for bankruptcy protection as it attempts to shake-off its debt-pile and rebuild its reputation following a series of scandals relating to founder and former chief executive Dov Charney. The teen-focused chain, known for overpriced jersey basics and risque advertising, said it has struck a deal with 95 per [...]
Chinese diets set to beef up demand for agricultural commodities October 5, 2015 Investors rocked by collapsing commodity prices should consider ditching copper and oil and park their cash in softer resources such as wheat and corn instead, a new report has suggested. Amid a backdrop of rising prosperity Chinese consumers are demanding more top nosh, with meat and grains such as wheat high on the menu wishlist. [...]
These are the world’s most valuable brands: Apple and Google winners in ranking dominated by tech industry October 5, 2015 Apple has been named the world’s most valuable brand, followed by Google and Coca-Cola, once more topping Interbrand’s annual ranking. The tech industry dominates the ranking, as more than half of the world’s top ten brands are technology companies, according to the Best Global Brands report published today. Bullish earnings and record-breaking sales of the [...]
Rolls-Royce share price rises as more job cuts announced October 5, 2015 Rolls-Royce has announced it will cut 400 more jobs in its marine business, as it attempts to reduce company costs in the face of falling oil prices. The cut, which will be completed by the end of the year, is in addition to the 600 job losses announced in May. The job cuts [...]