1st November 2013
1) The Indian stock market hit an all time, with the Sensex reaching 21,293 on Friday with investors putting their faith the central bank chief Raghuram Rajan who took up his role in September. It has also benefited from the delay to QE more than many other markets. Investment Week reported the news.
2)BT showed its sports based strategy may be more sophisticated than simply trying to match Sky on ratings. Thisismoney.co.uk reports that BT added 156,000 broadband users in the quarter to the end of September, up from 81,000 in the previous year because of its Premier league sports coverage. Adjusted profits before tax rose 2% to £609 million in the six months to September and shares closed 7.5p higher at 377p on Thursday.
3) Less good news for RBS. It lost around 7% of its value was down to 340p a share having reported losses of £634m for the three months to September. The BBC reported. It will not be split, but create an internal bad bank and sell off those assets in the next couple of years. The biggest toxic segment is commercial loans.
4) John Chatfeild-Roberts, who runs the Jupiter Merlin funds, is sticking with gold for an uncertain world. He says gold could provide an inflation hedge if developed economies have to keep QE going longer than expected complete with higher inflation as trade website Money Marketing reports.
5) The Government is considering capping workplace pension charges at 0.75 per cent. That may mean pension charges fall for many, but for some it could even bring a rise to the planned capo. If you are an employer you may have to reconsider your pension arrangements and how to comply with auto-enrolment. Trade magazine Corporate Adviser says 90,000 schemes may have to change their terms if the cap goes ahead. The rows continue.