Investors hope 11th hour deal will prevent US default October 16, 2013 As the United States faces a default scenario if a deal is not agreed today, many now expect a sovereign debt downgrade as Fitch has put the country's current AAA rating on negative watch. Investors are hoping that there will be an 11th hour deal, as there was before the fiscal cliff in 2012. Ishaq [...]
BBA announces retirement of chairman Michael Harper October 16, 2013 Multinational jet company BBA aviation has this morning announced the retirement of chairman Michael Harper, following yesterday's report that Sir Nigel Rudd, outgoing chairman of Invensys, is expected to join the board of BBA. (Release) City A.M.'s Marion Drakers writes yesterday: Sir Nigel, who is also the chairman of Heathrow Airport Holdings, could be announced [...]
What you need to know before the open – 16/10 October 16, 2013 US uncertainty still dominates – Asian markets remain cautious as the dollar pared gains yesterday, following a series of meeting that failed to see an agreement reached. The FTSE is expected to have a weak start as European markets are set to open flat this morning – although equities are expected to climb today on [...]
Gold-plated rules stop Londoners getting the homes they most want October 16, 2013 HOUSE prices in London are soaring, with the Office for National Statistics identifying a 8.7 per cent rise in the past year alone. But on top of this, Londoners are not getting the homes they most want – terraced houses and flats. According to research we’ve just published, London’s gold-plating of national housing standards is [...]
A troubling marriage between the EU and big charities is damaging Europe October 16, 2013 SHOULD government work hand in glove with charities? It’s a question that is becoming increasingly controversial. We usually think of charities as independent bodies, funded by voluntary donations in the pursuit of good causes. These are traditionally quite separate from government programmes – which is why they deserved our philanthropy. Yet the line that used [...]
It’s a tragedy that the Royal Mail’s sell-off has been so chaotic October 16, 2013 IT goes without saying that, with the benefit of hindsight, the government sold the shares in Royal Mail too cheaply. A decent discount would have been fine; they are routine with flotations and privatisations as the buyers are taking a risk and nobody knows the value of a firm before it starts trading. A deliberate [...]
Investment opportunities despite stubborn inflation October 15, 2013 It is not just equities that are providing real growth for investors INFLATION remains static at 2.7 per cent on the consumer price index, the 46th month it has sat stubbornly above the Bank of England’s 2 per cent target. Coupled with historically low interest rates, this has led millions to turn to bond, equity [...]
Free tools seek to fill advice gap as DIY investors rise October 15, 2013 But the evidence still suggests that financial advisers are key to long-term financial planning THE TREND towards DIY investment is accelerating. On top of the rising popularity of low cost execution-only investment platforms, some think that the Financial Conduct Authority’s retail distribution review (RDR), which came into effect at the beginning of 2013, has intensified [...]
Ethical investing: The principles or profits trade-off October 15, 2013 Annabel Palmer on the risks involved in adopting “socially responsible” strategies WE ARE now mid-way through this year’s National Ethical Investment Week – designed to inform the public that they have “sustainable and ethical options” in their financial decisions. In recent years, low opportunity cost – driven by low interest rates and the struggle to [...]
Apple event announced for next Tuesday – New iPads and Macs expected October 15, 2013 A widely speculated Apple launch event will take place next Tuesday, 22 October. Among the devices we're expecting are the new MacBook Pro and Mac Pro, as well as the iPad 5 and iPad 2 mini. None of that's certain, but recent events have made the promise of Apple chief Tim Cook look rather silly. [...]