UK construction surges on housing growth – but building is still behind UK’s needs October 11, 2013 UK construction is up four per cent in the year to August, according to new ONS estimates, and that's largely driven by new work. New work rose 5.5 per cent in the same period, with the new housing subcomponent of that category up 16.7 per cent while infrastructure fell by 5.5 per cent. Despite that [...]
Italian inflation softens in September October 11, 2013 Italy sees a softening of inflation as the consumer price index for September comes in at -0.3 per cent, in line with expectations. Last month, inflation was at 0.4 per cent. Year-on-year, the increase was in line with expectations at 0.9 per cent – down on August-August's 1.2 per cent rise.
Two thirds of economists oppose Help to Buy October 11, 2013 A Bloomberg News survey of 31 economists has shown a majority oppose the government's controversial Help to Buy scheme. Two thirds of the economists surveyed described the scheme as "bad." The government intervention into the housing market will see taxpayers on the hook for 15 per cent of a home's value, the purpose of which [...]
Royal Mail shares debut at 450p October 11, 2013 Royal Mail shares have opened at 450p (from the 330p sale price) as grey market trading begins this morning. The 36 per cent increase means that the Royal Mail is large enough to join the FTSE 100, with a market cap of over £3.1m. About 690,000 would-be investors are to receive a share allocation worth [...]
Shares plummet as Chemring profit takes hit from US shutdown and Middle East tension October 11, 2013 Aerospace defence group Chemring has announced a rather gloomy trading update for the third quarter, saying its profit is being dealt a blow from the US shutdown and tensions in the Middle East. (Release) 2013's anticipated operating profit the company says, going to be affected by the closure of a large number of government departments [...]
What you need to know before the open – 11/10 October 11, 2013 European markets are expected to build on yesterday's sizeable gains today, with asian markets seeing a three-week high, following US markets' second best day for the year. The optimism comes as debt talks get underway, with anticipation of a near agreement being made to extend the deadline for raising the US debt ceiling. Moreover, politicians [...]
Westpac to buy Lloyds’ Australian operations as bank exits the country October 11, 2013 Lloyds Banking Group says that it has agreed the AU$1.55bn (£0.9bn) sale of its Australian operations to Westpac Banking Corporation, as the bank begins to exit the Australian market. (Release) Lloyds will be selling Capital Finance Australia, a motor and equipment finance business, and the Australian division of corporate lender BOS International. The sale includes [...]
Misguided energy policies have put Europe on a path to economic decline October 11, 2013 DESPITE rising atmospheric carbon dioxide levels, global climate temperatures have remained flat for the past 15 years, if not a good deal longer. And the UN’s Intergovernmental Panel on Climate Change (IPCC) was last month forced to admit that its own climate models have grossly overestimated climate sensitivity to atmospheric CO2. So why are some [...]
UK banks discuss plan to ban payments to video websites October 11, 2013 BRITISH banks yesterday discussed a plan to ban payments to thousands of non-UK video websites, City A.M. has learned, in a move which freedom of speech groups said should be debated in parliament. Under the proposal, UK banks and card providers will be obliged to block payments to websites that provide sample video clips of [...]
Energy row hots up as SSE blames policy for price rise October 11, 2013 THE ENERGY market debate hotted up once again yesterday, as big six supplier SSE said it would raise its bills by 8.2 per cent from next month – adding £104 on to the average annual bill – and blamed the majority of the increase on government policies. SSE said the cost of the government’s green [...]