Dubai is opening a massive new airport. So why can’t we? September 20, 2013 BRITAIN’S inability to expand our airport capacity is inevitably met with complete bafflement in other, more ambitious parts of the world. In the nineteenth century, the naval trade allowed London to grow into a great, global metropolis; in the 21st century, planes have replaced boats as an essential driver of business travel, tourism and growth. [...]
German election unlikely to provoke demand for safe-haven assets September 20, 2013 With Germany's federal election due to be held this Sunday, research group Capital Economics says that an immediate resurgence in demand for safe-haven assets is unlikely. Although the current coalition could, the research group says, could stay in government, they are expecting a grand coalition between the Christian Democratic Union and Social Democratic Party. Capital [...]
Eurozone consumer confidence improvement disappoints in September September 20, 2013 Eurozone consumer confidence has improved from -16 to -14.9 in September. That's a smaller improvement that the jump to -14.5 that analysts were anticipating. Christian Schulz, senior economist, Berenberg: Consumers set a moderately positive tone ahead of the series of important Eurozone sentiment indicator releases next week. The EU Commission’s consumer confidence indicator rose for [...]
Khan hints at mayoral run 2016 September 20, 2013 Labour go-getter Sadiq Khan has hinted that he may run for London Mayor 2016. In interviews today with the Evening Standard and the Guardian, the shadow justice secretary and lord chancellor confessed to being interested, should the potential for the position arise. He said: “If I was at the edge of the box and the [...]
US Fed’s Bullard says inflation is still on the low side September 20, 2013 The Fed's James Bullard has warned that the Federal Reserve's focus has shifted too much towards jobs and away from inflation. Bullard reminded viewers of Bloomberg that the Fed has a dual mandate, and must consider both jobs and inflation. He said that inflation is still low. The Fed's man said that labour force participation [...]
CWU announce Royal Mail strike ballot for next Friday September 20, 2013 Workers' union CWU has announced plans for a strike ballot to be held next Friday. City A.M. business writer Liam Ward-Proud says on the impact of a strike: Stevenson [Tom Stevenson, an investment writer for fund manager Fidelity Capital] says that there are risks around the workforce, with strikes planned in reaction to the privatisation, [...]
Bank of England veteran Sharma leaves for consultancy job with Alvarez & Marsal September 20, 2013 The deputy head of the Prudential Regulation Authority (PRA) and executive director at the Bank of England for Policy is departing after 20 years in regulation. Paul Sharma will now move to consulting firm Alvarez & Marsal as co-head of regulatory practice. The past twenty years as a regulator have allowed me to experience a [...]
Investment by insurers and pension funds far higher than five year average September 20, 2013 Investment by insurers and pension funds is significantly higher than five year average and the largest quarterly estimate since 2009. Figures from the Office of National Statistics (ONS) show total net investment of £35bn by insurance companies, pension funds and trusts in the second quarter of 2013. This is the largest estimate since 2009's second [...]
UK borrowing falls faster than expected in August September 20, 2013 As always, how you look at borrowing depends on the measure you prefer – but by public sector net borrowing excluding financial interventions the deficit was slightly lower in August. Down from £14.4bn to £13.2bn, that's a touch lower than expected. Martin Beck, UK economist, Capital Economics: The improvement was driven by a fall in [...]
Regulator alleges price fixing in sports bra market September 20, 2013 A regulator has alleged price fixing in selling of Shock Absorber bras in UK department stores. The Office for Fair Trading (OFT) today issued a Statement of Objections to a sports bra manufacturer for allegedly fixing the resale price of their Shock Absorber bras. (Release) DB Apparel, the maker of Shock Absorber has, the OFT [...]