Tucker’s parting shot: Bank cannot provide stimulus without limit September 24, 2013 The Bank of England's Paul Tucker has suddenly taken a turn for the hawkish, warning that the central bank "cannot provide stimulus without limit, without a wary eye to inflation expectations." Giving his last scheduled speech speech as deputy governor for financial stability (he leaves for the Harvard Kennedy School and Harvard Business School in [...]
Facebook shares boosted by Citi target hike September 24, 2013 Shares in social media giant Facebook are up 1.9 per cent in pre-market trading as Citi has raised its rating on the company's stock to buy. Citi cited Facebook's recent success in monetising mobile usage of the network as reasons for the change, and now target a value of $55 (£34.41). Facebook stock closed at [...]
First the central bank, now tennis: Canadians moving to the top of British institutions September 24, 2013 In July we welcome Canadian Mark Carney as governor of the Bank of England, now the Lawn Tennis Association has appointed Michael Downey as its chief executive. While Carney left his job at the head of the Bank of Canada, Downey joins from his position as president and CEO of Tennis Canada after nine years [...]
Over 80 per cent of investors and analysts believe the UK’s recovery is here to stay September 24, 2013 A poll conducted by Populus for Capital Spreads has found increasing confidence in the UK economic recovery. The poll of 200 investors and analysts found that 82 per cent believed the economy would continue to improve over the next twelve months.The poll represents a significant increase from 69 per cent last year. Increasing growth forecasts [...]
18 large deals see 2013 M&A volume pass $2 trillion September 24, 2013 (Dealogic) Merger and acquisition (M&A) activity is back, and 18 large deals in the first nine months of 2013 are responsible for a large 22 per cent chunk of it, the highest since the same period in 2008. New analysis from Dealogic shows that M&A volumes have now exceeded $2 trillion (£1.25bn). That's an increase [...]
Bank’s Miles warns that it may take years for monetary policy to return to normal September 24, 2013 Dovish Bank of England Monetary Policy Committee member David Miles has warned that it could take ages for monetary policy to return to normal – as the slack in the economy generated by years of underperformance remains. Miles said that while business surveys of current and future activity point to stronger and consistent growth, and [...]
Owner of Miller Homes ponders possible initial public offering September 24, 2013 Miller Group, owner of Miller Homes, is contemplating a possible initial public offering (IPO), says The Financial Times’ property correspondent Ed Hammond. Miller Group is the UK’s largest privately owned property development and construction company, and the entertaining of such an idea highlights the sentiment that the UK housing market is looking ever-more positive. City [...]
Fed’s Dudley says taper possible this year September 24, 2013 The Fed's William Dudley has said that tapering is possible this year, depending on the data. It's hard to see how the data could improve significantly enough in just a couple of months to change the Federal Reserve decision not to taper though. Dudley says that a decision to taper would require an improvement in [...]
Consumer confidence and personal deposits up as business borrowing increases September 24, 2013 (BBA) Personal deposits have risen by almost five per cent over the year to August, says the BBA. (Release) BBA statistics director, David Dooks said: These figures suggest that consumer confidence is growing. For the first time in four years, annual growth in household borrowing on credit cards and personal loans has turned positive and [...]
Labour’s corporation tax plans threaten our business-friendly environment September 24, 2013 A business group has warned that Labour's plans to hike corporation tax threaten the attractiveness of the UK as a business location. Today Labour leader Ed Miliband will pledge to scrap plans to reduce corporation tax, in order to fund a small two year business rate freeze. The proposal will see UK firms paying £785m [...]