London Report: Housing pickup sparks rise in blue chip stocks August 13, 2013 F RESH signs of a recovery in the UK housing sector helped nudge Britain’s benchmark share index higher yesterday, with several traders expecting more minor gains over the coming month. The blue-chip FTSE 100 index closed up 0.6 per cent, or 37.60 points, at 6,611.94 points. A survey by the Royal Institution of Chartered Surveyors [...]
New York Report: Shares lifted by better macro data and Apple August 13, 2013 US STOCKS rose yesterday after strong economic data boosted confidence, while Apple bolstered the Nasdaq after billionaire investor Carl Icahn took to Twitter to reveal a long position in the stock. Rising US retail sales in July, combined with a higher Zew German sentiment index and Eurozone industrial production, painted a rosier picture of the [...]
Investment Comment: Investing in a low interest climate August 13, 2013 THE BANK of England’s decision to link interest rates to unemployment was widely expected. Accordingly, interest rates could remain at all-time lows until at least the middle of 2016. So what does this mean for investors? WINNERS AND LOSERS Savers will be the worst hit by the pledge of three more years of low interest [...]
What forward guidance means for mortgages August 13, 2013 LAST week, the Bank of England pledged to keep interest rates at 0.5 per cent at least until unemployment falls below 7 per cent – a threshold it expects to be met in mid-2016. Assuming the Bank sticks to the promise, and there a host of caveats in the announcement, this is good news for [...]
Any Other Business – 14/08 August 13, 2013 ■ It’s barely 24 hours since BBC Newsnight presenter Jeremy Paxman shocked middle Britain with his Twitter-trending facial hair, but bookies are already taking bets on how long the interviewer’s designer stubble will last. Ladbrokes is offering 4/5 odds-on that Paxman’s beard sees out the week – while punters who think he’ll go for a [...]
Labour promises to cap rail fares August 13, 2013 The Labour Party has promised to cap any increase in rail fares and make it easier for customers to buy the cheapest ticket available. Labour will cap rail fare rises & make it easier to get the cheapest ticket for your journey. That’s how you help fix a #costoflivingcrisis — The Labour Party (@UKLabour) August [...]
US Airways shares take a tumble as US Justice Department says no to merger August 13, 2013 Source: Yahoo The US Justice Department has filed a lawsuit to challenge the merger between US Airways and American Airlines on the grounds it would violate US antitrust law and lead to less competition in the industry. The Justice Department said a merger would remove the inventive for US Airways to offer lower prices and [...]
Government gloats of Help to Buy success as bubble expands August 13, 2013 Since the launch of the Help to Buy equity loan scheme in April, there have been 10,000 reservations for new build homes: evidence, the government has said, that the scheme is working (release). Earlier today, communities and local government secretary Eric Pickles said: This government’s package of measures to boost the housing market is working, [...]
Jaguar Land Rover to recall nearly 12,000 cars in one of its biggest markets August 13, 2013 Jaguar Land Rover, a unit of Tata Motors, will recall 11,852 vehicles in China over possible engine and oil leakage problems, the country’s industry watchdog has said. The General Administration of Quality Supervision, Inspection and Quarantine(AQSIQ) has said that Jaguar Land Rover would recall 8,656 Land Rover Freelander 2 and Range Rover Auroras and 3,169 [...]
Price of US imports grows faster than exports in July August 13, 2013 The rate of increase in the price of imported goods to the US accelerated in the year to July, with the import price index hitting 1.0 per cent. This was up from the 0.2 per cent the month before but missed expectations of a 1.5 per cent increase. Meanwhile, the rate of price increases in [...]