Manufacturers expect tough year as export growth drops to 2009 levels January 7, 2016 Manufacturers are unlikely to contribute much to the UK’s economic growth this year, according to new survey figures released this morning. Export sales nearly stagnated in the final three months of last year, the data from the British Chambers of Commerce (BCC) revealed. The export sales balance – the difference between the percentage of factories reporting [...]
Apple share price drops below $100 on reports of slowing iPhone 6S and 6S Plus shipments January 6, 2016 Apple shares slumped below $100 for the first time in months as production cuts refuelled worries that demand for iPhones is weakening. Investors were rattled by reports yesterday that Apple was expected to cut production of both the latest iPhone models 6S and 6S Plus by 30 per cent in the first quarter of 2016, [...]
FCA launches probe over alleged bond market rigging by trader at Lloyds Banking Group January 6, 2016 The City’s watchdog has launched a probe into whether the UK government bond market was manipulated by a trader at Lloyds Banking Group. The Financial Conduct Authority (FCA) is looking into whether at least one Lloyds trader sought to increase profits by driving down the price of the bonds or by inflating their prices when [...]
CES 2016: Netflix share price jumps on expansion to 130 new countries, including India, Singapore and Saudi Arabia – but not China January 6, 2016 Netflix chief executive Reed Hastings had a big announcement up his sleeve for his keynote speech at the Consumer Electronics Show (CES): Netflix is going live in 130 new countries, tripling the streaming giant’s distribution in one fell swoop. The expansion makes Netflix really global, as new countries include India, Saudi Arabia, Turkey, Vietnam, Indonesia [...]
Mergermarket buys London-based Creditflux as private equity owner BC Partners looks for global growth through acquisitions January 6, 2016 Mergermarket, the online financial news service, has bought Creditflux, a London-based data provider, for an undisclosed sum. The acquisition is the latest in Mergermarket’s recent shopping spree, having bought four businesses in as many months: due diligence service C6, private equity and venture capital news provider Unquote and the Asian Venture Capital Journal. Mergermarket is [...]
Topps Tiles nails start to the year as Britons spruce up their homes January 6, 2016 Topps Tiles enjoyed a jump in sales over the last three months, thanks to improving consumer confidence and a rise people doing up their homes. Like-for-like sales increased by 4.4 per cent in the first 13 weeks of its new financial year to 2 January. That compared with a 5.2 per cent rise in the same [...]
FTSE 100 index closes down as concerns over China cause mining stocks to fall January 6, 2016 The FTSE 100 index closed down today, dragged lower by mining stocks as concerns over China continued. The index closed 1.04 per cent down at 6,073 points, despite strong gains made by BAE Systems. "BAE topped the FTSE 100, as investors sought out defence stocks after North Korea’s nuclear weapon test," said Jasper Lawler, an analyst at [...]
China meddling causes investor concern as markets manage to regain some ground January 6, 2016 Markets in China have recovered some of their lost ground as the government’s control measures kicked in, furthering concerns that increased Chinese government meddling is creating an artificial market. State-run Chinese media has reported that a ban on institutional investors selling more than five percent of shares would remain in place indefinitely. It’s thought the [...]
Brent and US crude oil prices: The black stuff falls further after US figures show gasoline inventory boost January 6, 2016 Brent crude oil hit a low of $34.13 per barrel at one point yesterday, after figures from the US showed a huge increase in gasoline and distillate inventories. It recovered slightly to trade at $34.38 last night. The closely-watched weekly figures, from the US Energy Information Administration, showed that while inventories of crude oil have [...]
ISM PMI: The US economy has lost some traction January 6, 2016 The US economy slowed in December, according to a survey of businesses published today. The Institute for Supply Management's purchasing managers' index dropped to a score of 55.3 for last month from 55.9 in November. Scores above 50 indicate growth, with last month's lower score indicator slower growth. The survey was for the non-manufacturing sectors, which [...]
