Pace of growth in UK car sales begins to slow November 6, 2013 CAR SALES rose for the 20th month in a row in October, though the pace of growth slowed to four per cent compared to last year. The Society of Motor Manufacturers and Traders said British buyers registered 157,314 new cars last month, as the new number plates launched in September continued to motor out of [...]
Train manufacturer Alstom cuts 1,300 jobs to offset order drop November 6, 2013 FRENCH power and engineering firm Alstom said yesterday it plans to shed 1,300 jobs and sell a stake in its transport business to raise between €1bn (£800m) and €2bn after a drop in orders hit first-half profit and cash flow. The disposals of a minority stake in the unit known for making high-speed TGV trains [...]
Toyota on track for record profit as exports rise November 6, 2013 TOYOTA is on track to hit the record profit it set before the Lehman crisis after topping up its annual net profit forecast by nearly £1.24bn and outperforming Japanese rivals as its expansion plans bear fruit. The world’s best-selling carmaker is racking up strong sales in a healthy US market while keeping costs in check [...]
October sees small boost to emerging market output November 6, 2013 THE WORLD’S major developing economies saw output growth rise slightly last month, according to the latest HSBC emerging markets index, released today. The bank’s purchasing managers’ index (PMI) for the economies rose to 51.7, up from last month’s 50.7, and above the 50 mark which signals growth. However, performance is still lacklustre in comparison to previous [...]
Case for rise in rates building November 6, 2013 TWO OF City A.M’s panel of economic experts voted for a hike in rates again this month, saying the economy appears to be building strength quickly. Seven members of our shadow monetary policy committee (MPC) remain against hiking rates, but the situation marks a dramatic turnaround from the summer, when some members were still in favour [...]
City A.M. shadow MPC 7-2 against rate hike November 6, 2013 ALLISTER HEATH | CITY A.M. “With robust growth in the third quarter and a mounting pile of evidence that the UK economy is heating up, the Bank’s record-low interest rates aren’t just wrongheaded, but unsafe. The MPC should hike bank rate to 0.75 per cent.” GRAEME LEACH | INSTITUTE OF DIRECTORS “There is no need for [...]
Best of the Brokers for 07 November 2013 November 6, 2013 MEGGITT Cantor Fitzgerald has upgraded its recommendation for the engineering firm from “hold” to “buy” and raised its target price from 520p to 590p. The broker said it was impressed by efforts to improve operating metrics and that the reaction to last week’s profit warning was “severely overdone”. RSA INSURANCE GROUP Canaccord Genuity has maintained [...]
London Report: FTSE ticks down as nine-month rally loses pace November 6, 2013 THE UK’S main equity index dipped lower yesterday, with credit data group Experian slumping after its interim results, while traders said the market might stall in November after a strong run-up last month. The blue-chip FTSE 100 index, which rose four per cent in October to reach 5-month highs, closed down by 0.1 per cent, [...]
New York Report: Microsoft helps Dow to close at a record high November 6, 2013 THE Dow industrials closed at a record high yesterday, led by gains in Microsoft and encouraging European economic data, while the S&P 500 also rose but closed shy of its own record. Meanwhile the Nasdaq fell, hurt by losses in Tesla Motors and as investors readied for Twitter’s much-anticipated IPO. The benchmark S&P 500 rose [...]
Geek Speak: Hands-on review: The iPad Air November 6, 2013 @steve_dinneen iPad Air From £399 for 16GB wi-fi only Five stars Every time Apple releases a new version of the iPad, it gets harder to review. Here’s a good starting point: the iPad Air is the best tablet in the world. That’s not even a subject for debate, unless you’re the most ardent of Android [...]