Fannie Mae comes to Maastricht as Dutch government backs mortgages October 28, 2013 The Netherlands will attempt to revive its faltering housing market by issuing mortgage bonds backed by the state, in a bid to prevent a credit crunch. The Dutch government is planning to establish a finance company to buy securitized mortgages with government-guaranteed home-loan bonds. The scheme is to be worth £42bn over five years. The [...]
Two reasons why taxis should charge higher rates after St Jude October 28, 2013 Many will baulk at the idea of cab drivers charging higher rates as public transport networks suffer in the wake of today's storm – and indeed in many cases rates rules prohibit them from doing so. This does not appear to be stopping all enterprising drivers: Supply vs demand. Colleague just been quoted £130 for [...]
Chaos in Whitehall as crane collapses onto Cabinet Office October 28, 2013 A crane has collapsed onto the Cabinet Office as St Jude's winds batter the capital. Whitehall has been cordoned off between Parliament Square and Horse Guards Avenue, and deputy prime minister Nick Clegg has announced the postponement of today's press conference. Whitehall sealed off. Blue flashing lights outside Gwydyr. Crane has collapsed onto Cabinet [...]
220,000 households without power in wake of storm October 28, 2013 The Energy Networks Association have said that up to 220,000 households are without power in southern England. UK Power Networks haved claimed that 140,000 households are without power in the south and east of England. UK Power Networks said that high winds overnight have damaged parts of their electricity network leading to power [...]
Italian business confidence sees unexpected rise in October October 28, 2013 Italian business confidence has upset analyst predictions, as consensus forecasts suggested a drop in the indicator this October. Instead, the latest data shows an increase from 96.8 (revised from 96.6) to 97.3. Consensus estimates suggested a drop to 96.3. So a stronger October figure, and a nice upward revision to September's. A rough translation of [...]
Aggreko tops FTSE as shares jump on increased revenues October 28, 2013 Aggreko topped the FTSE100 this morning as shares spiked after the company announced its third quarter trading was in line with expectations, with revenues up on the same period last year. (Release) The mobile power company said that its underlying revenues and trading margins in the three months to 30 September were slightly ahead of [...]
Government report claims HS2 vital to avoid massive delays October 28, 2013 Passengers are to face 14 years of weekend closures and longer journeys if alternative projects to HS2 are pursued, according to a government commissioned report. The new report seen by the BBC is not due to be released until tomorrow. The report by Network Rail and Atkins says that upgrading existing rail lines would have [...]
Balfour Beatty wins £73m coastal defence contracts October 28, 2013 Balfour Beatty has today announced it has been awarded two coastal defence contracts worth £73m. (Release) The contracts, which are for Blackpool and Wyre Council, will see the infrastructure company replace over 2.9km of the original 1930s seawalls, as part of the promenade renewal and beach management projects, the Anchorsholme and Rossall schemes. The projects [...]
What you need to know before the open – 28/10 October 28, 2013 European markets look set for a marginally upbeat open this morning after a positive finish in the US on Friday. Traders may well be somewhat windswept in London this morning, though, as St Jude hits the UK. Markets due for a stronger open FTSE +25. Not quite so positive for Greater Anglia who have cancelled [...]
Nuclear deal to cost £1bn a year October 27, 2013 EXPERTS have warned that consumers could be faced with an annual bill of £1bn to subsidise Hinkley nuclear plant if wholesale electricity prices fall below the price the government has guaranteed EDF. The UK government and the French energy firm yesterday unveiled the terms of a long-awaited deal to build Hinkley Point C in Somerset, [...]