Poor data is a threat to UK’s green shoots June 18, 2009 A HOST of poor data released yesterday cast doubt over the prospects of Britain’s fragile economic recovery. The figures caused the pound to slip to a one-week low against the euro and gilt yields to edge higher. Retail sales fell unexpectedly in May by 0.6 per cent after an upbeat April thanks to a late [...]
US stats signal recovery underway for jobs market June 18, 2009 MORE green shoots of recovery have sprouted in the US labour market, according to the latest data, while the slumping factory sector showed dramatic signs of improvement and a gauge of the overall economy also jumped. The number of US workers filing new claims for jobless benefits rose last week but the number of people [...]
Business loans contract again June 18, 2009 The Bank of England yesterday revealed official data from April which showed the weakest flow of net lending to businesses since June 2000, while net flows of consumer credit remained weak. The data is a clear sign the credit crunch continues to hit businesses despite the efforts of policymakers to boost lending to cash-strapped companies. [...]
WHAT DO THE PUBLIC FINANCE FIGURES MEAN FOR THE UK ECONOMY? June 18, 2009 VINCE CABLE LIBERAL DEMOCRATSThis is yet another set of figures confirming how detached from reality the Government’s assessment of the state of public finances has been. It is more important than ever for all parties to start talking seriously and honestly about how discipline on public spending will be maintained without cutting vital services.VICKY REDWOOD [...]
AIG Asia share offering may raise lead banks a cool $350m June 18, 2009 MORGAN Stanley and Deutsche Bank are expected to net as much as $350m (£214m), after being named as global co-ordinators of the stock market flotation of AIG’s Asian life insurance arm. The US and German investment banks are running the giant initial public offering of American International Assurance (AIA), which is being sold off as [...]
British Land in Broadgate stake talks June 18, 2009 BRITISH Land, the UK’s second largest property company, is in talks with Israel’s Property and Building over selling a £100m stake in the City’s iconic Broadgate office complex, City A.M. can confirm. A British Land spokesman said last night: “The company declines to give further details about any of the parties but confirms that discussions [...]
Lover guilty of banker killing June 18, 2009 A Swiss court has convicted the lover of influential French banker Edouard Stern of murdering him during a sado-masochistic sex game. Stern was found in a skin-coloured latex suit pierced with four bullet wounds. Brossard has now been jailed for eight and a half years for the killing, which followed an argument over $1m, money [...]
SIG dives on profit warning June 18, 2009 Shares in SIG a British maker of insulation products, yesterday suffered a 22 per cent nose dive after the company warned that underlying pre-tax profit will be at the bottom end of the range of market expectations in the current year. The group’s shares closed at 99p. The company said European markets had not achieved [...]
Carnival cruises past forecasts June 18, 2009 Cruise firm Carnival yesterday posted a forecast-beating quarterly profit, helped by lower costs and higher-than-expected prices on last-minute bookings. The cruise operator reported net income of $264m (£161m), compared with $390m a year earlier.
Wizz Air boosts Airbus orders June 18, 2009 Airbus almost doubled its tally of plane orders and commitments at the Paris Air Show yesterday with a pledge from European low-cost carrier Wizz Air to buy 50 A320 aircraft worth about $3.8bn. Sales chief John Leahy, struggling to ink new orders, said at the show that he was hopeful of announcing another significant order [...]