Sports Direct brushes off England’s early World Cup exit but results show even Mike Ashley can’t predict the weather December 11, 2014 Sports Direct has brushed off England's disappointing World Cup performance but it seems owner Mike Ashley is not immune to the unseasonal weather. The figures Group revenue rose 6.5 per cent to £1.4bn in the six months to 26 October. Underlying earnings before interest, taxes, depreciation, and amortisation rose 11pc to £203.1m, excluding charges related to the [...]
UK housing crash, Draghi quitting the ECB or “A-choco-lypse”? Here are Saxo Bank’s bonkers predictions for 2015 December 10, 2014 Could there be a UK housing market meltdown? Could Nigel Farage become deputy prime minister? Or worst of all, will there be an "a-choco-lypse"? These could be some of the most outrageous predictions you'll hear this year – or the best warning you ever had. Saxo Bank has just released its 10 scenarios for 2015 [...]
Ian McCafferty: Bank of England MPC hawk lists four reasons he votes for an interest rate-rise December 10, 2014 One of the Bank of England monetary policy committee's two resident hawks, Ian McCafferty, has explained his reasoning behind voting for an interest rate rise "sooner rather than later". During a speech at a breakfast organised by the Institute of Directors this morning, McCafferty explained why he's voted for voting for an interest rate rise [...]
Opec: Global oil demand will be even lower next year December 10, 2014 The Organization of Petroleum Exporting Countries (Opec) has slashed its demand forecast for next year. Opec, which released its monthly report today, said demand would drop to 28.92m barrels per day in 2015, down 280,000 from its previous forecast. It said that waning growth in global consumption, as well as the US shale gas boom [...]
Warren Buffett tops list of biggest charitable donations in 2014 December 10, 2014 Billionaire investor Warren Buffett is this year's most generous man, according to new research from Wealth-X, a research firm focusing on high net worth individuals. His $2.1bn (£1.3bn) donation to the Bill and Melinda Gates Foundation, in the form of 16.6m shares of his company Berkshire Hathaway, propelled Buffett to the top spot. Six of [...]
Six reasons why the UK’s pub industry is dying December 10, 2014 It looks like Britain's pub industry is struggling to get over a nasty hangover. Around 21,000 pubs have disappeared since 1980 and analysts expect thousands more to close before the decade is out, according to a new research by the Institute of Economic Affairs. But isn't Britain supposed to be a nation of binge drinkers? [...]
BG Group clinches $5bn Australian pipeline sale December 10, 2014 BG Group has sold an Australian natural gas pipeline to APA Group for $5bn (£3.2bn), clinching its largest deal in its history. The deal, expected to complete in the first half of next year, should net the oil and gas company a profit of around $2.7bn. Some of this will be partly offset by a tax impairment [...]
Carillion embroiled in Qatar 2022 World Cup allegations December 9, 2014 Carillion, one of the UK's biggest construction firms, has been implicated in allegations surrounding the treatment of migrant workers in Qatar as it prepares to host the World Cup in 2022. BBC news said it "uncovered worrying testimony about pay, housing conditions and safety standards from foreign workers" including some employed by subcontractors working for Wolverhampton-based [...]
Abercrombie & Fitch announces chief executive Michael Jeffries’ retirement December 9, 2014 Embattled teen retailer Abercrombie & Fitch has said Michael Jeffries will step down from his roles as chief executive and board member with immediate effect. Jeffries, who had long been out of favour with investors, already lost his chairmanship role in a board restructuring earlier this year. Its shares surged nearly seven per cent in pre-market trade [...]
UK manufacturing unexpectedly falls in October December 9, 2014 UK manufacturing posted a surprise fall of 0.7 per cent for October, after rising 0.6 per cent the previous month, according to figures released by the Office of National Statistics (ONS). Economists had been expecting an increase of 0.2 per cent in industrial and manufacturing output for October. The slump was driven primarily by a 4.5 [...]
