US manufacturing index rises August 16, 2010 A gauge of regional manufacturing in the US rose in August after plunging the previous month but it fell short of analysts’ forecasts, adding to evidence that the US recovery is losing momentum. The New York Federal Reserve said yesterday that its Empire State general business conditions index increased to 7.10 in August from 5.08 [...]
US homebuilders less positive August 16, 2010 Homebuilder confidence in the US dropped to a 17-month low in August, according to the National Association of Home Builders index. The index fell to 13, its worst reading since March 2009. Analysts had expected the index to rise to 15 from 14 in July. A reading above 50 indicates that builders view conditions as [...]
House prices drop in London August 16, 2010 London house prices dropped by four per cent in August, wiping out any gains made earlier this year, according to Rightmove. On average £17,000 came off London asking prices in August, the biggest drop in two years. The average London house price now sits at £405,058, falling back to January levels. Wandsworth and Brent fell [...]
Jewel thieves escape with £380,000 haul August 16, 2010 MASKED raiders escaped with £380,000 worth of jewellery and watches after a brazen smash and grab at a City arcade. A gang of four thieves wearing balaclavas smashed their way into luxury jeweller De Beers, in the Royal Exchange, with sledge hammers in a five-minute raid on Saturday night. They targeted diamonds before breaking into [...]
UK pension pot values slumped again in July August 16, 2010 THE VALUE of the nation’s pensions has continued to tumble in the past month, with the average 30-year-old losing £518 from their annual pension income in the last four weeks alone according to recent figures. The average 65-year-old is left with £7,666 a year, according to Aon Consulting’s monthly pension tracker, which is half the [...]
CITY MOVES | WHO’S SWITCHING JOBS August 16, 2010 Daiwa Capital Markets Hetal Mehta, a former senior economic adviser to the Ernst & Young ITEM club, has joined the Japanese brokerage’s investment banking arm as its new UK economist. Mehta joins from Oxford Economics and has also previously worked at HM Treasury and in the office of the deputy Prime Minister as a policy [...]
finance boss in the wars after hitler gag August 16, 2010 AS A hack, it gets frustrating to be confronted with a deafening silence when asking any financier to stand up and publicly defend the industry against politically-motivated attacks – especially when the same hotshots are perfectly happy to shoot their mouth off when cornered in private. But, refreshing as it is to find an exception [...]
Hiring drive in City boosts Michael Page August 16, 2010 RECRUITMENT group Michael Page yesterday reported booming profit growth over the first half, driven by a strong performance across its global divisions and by an explosion in demand for City workers in the aftermath of the financial crisis. Chief executive Steve Ingham said recruitment activity in the City has now been rebounding for several consecutive [...]
BRASSERIE BLANC FOCUSES ON LE PUB August 16, 2010 THE private equity firm behind Brasserie Blanc, Core Capital, said it will launch the White Brasserie Company which will focus on gastropubs. It will start by opening the Queen’s Head in Weybridge, Surrey, and the King’s Head in Teddington, Middlesex. Raymond Blanc (above) is the chef behind Brasserie Blanc.
Afghanistan looks for partner after discovering 1.8bn barrel oil field August 16, 2010 AFGHANISTAN is looking for a commercial partner after it discovered an oilfield with an estimated 1.8bn barrels in the north of the war-torn country. The discovery of the basin between northern Balkh and Shiberghan provinces was made after a survey conducted by Afghan and international geologists, according to Jawad Omar, a spokesman for the ministry [...]