Business leaders speak out in support of immigration December 9, 2013 Two leading figures in British business have championed the benefits of immigration to the UK economy. Former M&S boss Sir Stuart Rose speaking on the Murnaghan show on Sunday said: I'm a free market economist, we operate in a free market. If these people want to come here, and work the hours they are prepared [...]
Everything you need to know about the global economy in one chart December 9, 2013 This chart – of credit creation as a percentage of GDP – tells you a lot about these four economies. Credit creation is only up in Japan since 2007 – a product of stimulatory fiscal and monetary policy. Meanwhile in the Eurozone things have all but broken down. It's still accurate to refer to [...]
OECD warns Labour price freeze could see lights go out December 9, 2013 The secretary-general of the OECD, Angel Gurria has warned that the Labour party's planned energy price freeze could bankrupt energy investors leading to chaos in Britain's energy market. Speaking to BBC's Panaroma due to broadcast on Monday night, he said: If you freeze the price of energy and the international price of energy rises, it [...]
What you need to know before the open – 09/12 December 9, 2013 A positive start to the week's trading is expected today, with a very thin macroeconomic calendar ahead of us for Monday. Analyts forecast that the FTSE will open higher on momentum from Friday's US session, record highs on India's Sensex stock index, and the better than expected Chinese inflation data published this morning. Morning all. [...]
Albermarle & Bond profits crash by over 75pc as gold prices slide December 9, 2013 Troubled pawnbroker Albermarle & Bond (A&B) won't be feeling much better today. The company has been hit by multiple setbacks – most recently announcing on the 30 September that falling gold prices have created uncertainty over its future. Its final results for the financial year ended 30 June reveal that performance is markedly worse on [...]
You won’t believe why some think China’s smog is a good thing December 9, 2013 It's not news that Chinese megacities are suffering from some pretty terrible smog, such as Beijing, pictured above as early as 2008. The International Olympic Committee (IOC) raised it as one of their concerns for the 2008 games. Since then, it's been getting much worse, and many are worried about the health impacts. But it [...]
Ex Barclays chief Bob Diamond returns December 9, 2013 Former Barclays chief executive plans his City comeback BOB DIAMOND is launching a new investment vehicle in London to fund a venture into African banking, his first big move since leaving Barclays in last year’s Libor scandal. City commentators welcomed the investment banker’s return, 18 months after he bore the brunt of the blame for [...]
Mayor’s office sold in £1.7bn Kuwaiti deal December 9, 2013 KUWAITI firm St Martins Group has paid around £1.7bn to buy the More London complex next to Tower Bridge, which includes Boris Johnson’s headquarters City Hall. The sale, one of the largest ever UK commercial property deals, is due to be formally completed next month. The 10-year old development on the south bank of the [...]
Christmas cheer kicks off with card spending boost December 9, 2013 A SEASONAL boost in consumer spending began last month, with new figures from millions of credit and debit cards showing a three per cent increase from October. Online sales were particularly popular in November, according to Barclaycard, swelling to just over a fifth of all spending. Black Friday’s frenzied shopping has now arrived from the [...]
Boris’s airport could get axe in Davies report December 9, 2013 THE MAYOR’s plans for a hub airport in the Thames Estuary could get the axe in a report out later this month, Boris Johnson’s own aviation adviser has warned. Daniel Moylan told industry experts that the plan for an airport based on the Isle of Grain in north Kent or on an artificial island is [...]