The yuan and dollar currency cross must devalue significantly January 8, 2016 At least two large and previously successful hedge funds have recently closed, citing as reasons the breakdown of their crystal balls and interestingly blamed on the growth of algorithmic trading. We argue differently. What is making investing hard is that global flows are increasingly dominated by the two major economies: the US and China. The [...]
Watchstone, formerly known as Quindell, sells property business for £1 January 8, 2016 Watchstone Group, the company formerly known as Quindell, has sold its property and maintenance companies for just £1 as it seeks to draw a line under the insurance outsourcer's controversial past. In a statement to the London Stock Exchange today, it said property insulation business, BE Insulated, and property maintenance service provider, Carbon Reduction Company, had been sold to the [...]
Chinese shares rise two per cent after day of volatile trading – but end the week 10 per cent down January 8, 2016 Chinese shares closed mixed today, ending a week of volatile trading, following mounting fears over the pace of the country's economic slowdown. After a day of wild swings, China's Shanghai composite index closed up 1.97 per cent at 3,186.41 points. Meanwhile, the Shenzhen composite index ended the day 1.05 per cent higher at 1,978.721 points. The CSI 300 index, tracking [...]
There’s nowhere to hide for Marks & Spencer’s shop-floor boy turned chief executive Steve Rowe January 8, 2016 It was only a matter of time before Marc Bolland left Marks & Spencer, and with his tenure at the retailer nearing six years, many will be asking how he lasted as long as he did. Under Bolland, times have been tough: general merchandise has been in decline for 17 of the past 18 quarters, [...]
Pay growth falls to two-year low despite jobs rise January 8, 2016 Pay growth has slowed to its lowest rate in over two years, new survey figures show this morning. The slowdown comes despite an increase in job vacancies in December, according to the data compiled by the Recruitment and Employment Confederation (REC) and financial services firm KPMG. The survey’s pay gauge slid to a score of 58.7 [...]
UK house prices: Number of tenants in serious rent arrears rising January 8, 2016 The number of tenants falling seriously behind on rent went up by 13.8 per cent between the three months to June and the three months to September, according to figures released this morning. There were 84,200 tenants more than two months behind on their payments between July and September – the most for two years, the [...]
Apple just bought emotion-detecting startup Emotient as rivals Facebook and Google continue Silicon Valley’s push into artificial intelligence January 7, 2016 Apple just bought emotion-detecting startup Emotient, taking a deeper plunge into artificial intelligence. Emotient, founded in 2012, uses AI software to analyse facial expressions and detect people’s emotions. The firm’s primary audience has been advertisers hoping to evaluate viewers’ reactions to adverts. Exactly what Apple plans to do with it is unclear, but Apple has [...]
Wall Street sinks and FTSE 100 index closes below 6,000 after another turbulent day in China January 7, 2016 The Dow Jones recorded its worst four-day start to a year on record, following another day of turmoil in China, which also left the S&P 500 on track for its worst start to a year since 1928. The Dow Jones industrial average fell 2.32 percent, to 16,514.1, the S&P 500 dropped 2.37 per cent, and the Nasdaq lost [...]
Investec: Challenger banks including OneSavings Bank, Aldermore are undervalued as investors are spooked by worries over buy-to-let regulation January 7, 2016 Concerns over increased regulation of the buy-to-let residential property market have prompted investors to undervalue some of Britain’s leading challenger banks, analysts at Investec have claimed. In a new note out today, Investec analysts upgraded their recommendation on OneSavings Bank, a FTSE250-listed lender, from “hold” to “buy” off the back of recent share price fluctuations. [...]
Standard Chartered deputy chief executive Mike Rees steps down January 7, 2016 Standard Chartered deputy group chief executive Mike Rees will step down at the end of April, the bank announced tonight. Rees, who has worked for Standard Chartered for 26 years, will retire on 30 April 2016, stepping down from both his job as deputy group chief executive and his role on the board, the bank said in [...]
