Tesco’s Dave Lewis in video interview addresses management shake up speculation September 5, 2014 Seven days into his tenure at Tesco, “Drastic Dave” Lewis has revealed how his “rollercoaster” first week in the new job went in a video posted on the supermarket’s YouTube channel. The former Unilever executive who replaced Philip Clarke said he won't shy away from making a call on management changes but would not make [...]
Euro vs rouble: Currencies react to ECB stimulus measures September 5, 2014 Not content with falling against the dollar and the pound, the euro yesterday slid against the Russian rouble too. In fact, after the European Central Bank's (ECB) surprise stimulus measures, the euro fell against every currency listed in the ECB data store, except the Czech koruna and the Bulgarian lev. And it only rose against the [...]
Euro tanks after Draghi unveils surprise stimulus September 4, 2014 THE EURO took a nosedive yesterday after central bank chief Mario Draghi surprised markets with a new wave of dovish policies designed to help save the ailing single currency area. Interest rates were cut to fresh record lows, while Draghi’s European Central Bank (ECB) will also try to boost credit conditions further by snapping up [...]
No Blue Peter badge for Sajid Javid as he lives the dream at BBC studio September 4, 2014 The Rt Hon Member of Parliament for Bromsgrove and UK Secretary of State for Culture, Media & Sport Sajid Javid is no luvvie. Not a bit of it. However, when it comes to reliving his childhood, he’ll jump at the opportunity. Yesterday, Sajid was doing a tour of TV studios, as you do, taking in [...]
London Report: Draghi decision helps FTSE rise but BP tanks September 4, 2014 BRITAIN’S top shares rose yesterday after the European Central Bank cut interest rates and announced plans to buy assets in a bid to shore up Eurozone inflation. However, steep falls in BP capped gains. BP shares fell 5.9 per cent to 455p, suffering their biggest one-day percentage drop since June 2010, after a judge in [...]
As the ECB unveils rate cuts and asset purchase plans, can it save the Eurozone from disaster? September 4, 2014 Chris Williamson, chief economist at Markit, says Yes. Yesterday’s announcement by the European Central Bank (ECB) – that it’s cutting rates and will buy asset-backed securities and euro-denominated covered bonds from October – will help avoid disaster, but huge risks remain. The rate cuts will only have a marginal impact, and little is known about [...]
ECB rates, growth and stimulus: Four charts that tell you what you need to know September 4, 2014 Today has been a busy day for central bank watchers. The Bank of England's monetary policy committee voted to keep rates at a record low of 0.5 per cent – but the European Central Bank (ECB) was where today's action really was. The ECB, against expectations, cut interest rates to 0.05 per cent and later [...]
Euro slides to one-year low as ECB cuts rates to 0.05pc, but confirms stimulus programme September 4, 2014 The euro slid to 1.302 against the dollar, its lowest level since July 2013, after the European Central Bank cut interest rates from 0.15 per cent to 0.05 per cent and confirmed plans to start a programme of buying asset-backed securities. ECB president Mario Draghi hinted during a speech at Jackson Hole last month that the [...]
French unemployment edges higher adding to Hollande’s woes September 4, 2014 The unemployment rate in France has edged higher in another blow to President Hollande’s efforts to reduce jobless rates- one of a variety of economic woes for the French leader. 10.2 per cent of the French population were out of work in the second quarter of this year, compared to 10.1 per cent in the [...]
Boris Johnson unveils £913m plan to protect London cyclists with Crossrail for bikes September 3, 2014 London Mayor Boris Johnson yesterday unveiled plans for two urban cycleways across London dubbed “Crossrail for the bike.”. They will offer cyclists protection from other road traffic and are the centrepiece of a £913m project to convince more Londoners into using two wheels to get around. The north-south route will run from Elephant & Castle in [...]