SCRAPPAGE DRIVES SALES October 6, 2009 NEW car sales were up 11.4 per cent last month year-on-year – their third consecutive rise – helped by a government incentive scheme, data from the Society of Motor Manufacturers and Traders (SMMT) showed yesterday. A total of 367,929 cars were sold. September is one of the most important months for new car sales, as [...]
Confidence surges ahead on buoyant hopes for economy October 6, 2009 CONSUMER confidence leapt ahead in September to its highest level since April last year, riding on improved housing market data and hopes that the worst of the recession is over, the Nationwide Building Society said today. Nationwide’s monthly consumer confidence index rose by six points in September to 71, taking it to 24 points higher [...]
Lack of stock propels house prices higher October 6, 2009 HOUSE prices in Britain experienced their first quarterly rise in two years in the three months to September, which saw the value of a UK home rise 2.8 per cent over the period, Halifax said yesterday in its monthly survey, citing increased demand and a shortage of properties for sale. Data from the mortgage lender [...]
CITY VIEWS: ARE YOU WORRIED THAT HOUSE PRICES COULD SOAR OUT OF CONTROL AGAIN? October 6, 2009 TONY DOONA CARILLION“I don’t believe they will get out of control, in fact I think they’re more likely to go down again. There’s a shortage of cash in general and it’ll be no better next year. There’s no construction going on, simply because no one has any money. I can’t see the government doing anything [...]
BEST OF THE BROKERS October 6, 2009 LONMINCanaccord Adams changed its recommendation on Lonmin to a “sell” – from being under review and a “hold” prior to that – and increased the target price to 1,050p. The broker said that the share price is being driven by the potential for Xstrata to bid for the remainder of Lonmin, and argues that the [...]
GSK boosted by flu vaccines October 6, 2009 SHARES in GlaxoSmithKline (GSK) got a lift yesterday after the pharmaceuticals firm said it had won a further 22 government orders for its swine flu vaccine in the last two months. The new contracts take the number of doses of the H1N1 vaccine ordered from GSK to 440m, worth some $3.5bn (£2.2bn), a considerable sales [...]
Finsbury spins another healthy profits increase October 6, 2009 CADBURY’S financial public relations adviser Finsbury has increased profits despite the downturn in the economy, according to documents filed at Companies House. Profits have reached £8.8m against £8.75m last year and founder Roland Rudd has seen his pay package reach £2.9m against £2.25m the year before. Rudd, a former financial journalist with the Financial Times, [...]
Tories detail plans for later retirement October 6, 2009 THE TORY party softened its stance on bringing forward planned rises to the state retirement age yesterday, while the City attacked the cost-cutting plan as insufficient. Shadow chancellor George Osborne addressed the party faithful in Manchester, setting out his proposed measures to tackle what he calls “Labour’s debt crisis”. He confirmed plans, leaked on Monday [...]
Blackstone in windfall from oil field stake October 6, 2009 BLACKSTONE shares rose by more than 4.5 per cent yesterday as the firm came in line for a giant windfall, after energy giant Exxon Mobil agreed to buy a stake in an oil field the private equity firm jointly controls. Exxon has snapped up a large interest in the Jubilee field in Ghana, which is [...]
Hodges to head Aviva UK as insurer announces management reshuffle October 6, 2009 Aviva yesterday announced that its head of UK life insurance Mark Hodges is to become chief executive of its entire domestic business, bringing all its UK life and non-life operations under one leader. The move is part of a management shake-up which has been prompted by the retirement of Aviva’s chief executive of North America, [...]