Thu 26th Mar 15, 17:45:3
There is no sign that housing is cooling off, homebuilder Bellway told investors. Since January its reservations were up by 10%, despite the uncertainty surrounding the upcoming elections. In the latest half-year, ended in January, the company increased its spend on land by 48% to hit £355m - although that will only maintain the number of plots available at its current rate of 4.8 years. Over the last 18 months the company also added three regional subsidiaries.
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US stocks closed slightly lower on Thursday, recovering from steeper declines made earlier in the day as a result of conflict in the Middle East and underwhelming data. 9 hours ago
Oil prices rebounded higher as Saudi Arabia's airstrikes in Yemen raised concerns that a regional conflict could shift supply and demand equilibrium. 11 hours ago
Royal Bank of Scotland (RBS) has agreed to sell its international private arm Coutts International, to Union Bancaire Privee (UBP), the Swiss private bank. 11 hours ago
Volvere, an investment company, has bought Impetus Automotive (IAL) for £1.3m. 13 hours ago
Beijing has sent a list of corrupt Chinese officials to authorities in the US, requesting they are deported to China to be prosecuted if found in America. 20 hours ago
WhatsApp CEO Brian Actor announced on Thursday at Facebook's F8 Developer's conference in San Francisco that WhatsApp's voice call feature will soon be available for Apple users of the iOS system 13 hours ago
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I know what you’re thinking; “Oh no, not another article about the FTSE 100 reaching 7,000”. Well, okay, yes it is. But it’s more of a story of how we got here and where we might be going.
Gold is one of the most widely traded precious metals instruments. It not only represents a commodity but is also considered by many a currency that trades fluidly against the US dollar.
Gold prices fluctuate based on the supply and demand for the precious metal, as well as rising and falling inflation expectations. Gold trades actively in the over the counter market as well as in futures format. Gold prices are quoted in US dollars per ounce.
Former trader Andrew Hecht, who spent 35 years on Wall Street with the likes of Salomon Brothers, Cantor Fitzgerald, HSBC and commodities hedge fund Global Advisors Ltd, writes about the issue of greed in the world of finance.
To many, the industry of finance is a culture built on greed and known for the scandals that this greed creates. As the bad behaviour continues, the anger of the masses grows, and more and more people wonder: are there any solutions?
One of the real-life Wolves of Wall Street, or Masters of the Universe, or Duke Brothers, depending on your film references, Michael Milken was apparently a major inspiration for the Gordon Gekko character in the 1987 film Wall Street (if you’ve not seen it, watch it, it’s great - and it’s on Netflix).
Low-rated bonds were viewed as just junk until Michael Milken’s bond trading division began to use them to generate huge profits for the investment firm of Drexel Burnham Lambert based on his MBA thesis that such previously disregarded securities were actually good investments.
The Eurogroup and Greece reached an agreement that prolongs Greece's bailout funds for another 4 months, provided Greece submits a list of reform measures.
So after all the wrangling, Finance minister Varoufakis ultimately agreed not to roll back previous reforms, refrain from unilateral action and accept IMF involvement, with troika oversight remaining in place in all but for the name.