Small businesses grow more confident as hopes increase for an upturn in US January 10, 2012 CONFIDENCE in American small businesses has hit its highest level since last February as increasing numbers of firms looked to expand in December, according to data out yesterday from the National Federation of Independent Business (NFIB). The small business optimism index rose by 1.8 points to 93.8. The index has now gained 5.7 points over [...]
Mexican GDP shrinks as industrial output declines January 10, 2012 SLUMPING industrial output pushed the Mexican economy into its steepest monthly decline in nearly two years in October, official statistics agency INEGI revealed yesterday. Latin America’s second largest economy contracted 0.6 per cent in October from September, the biggest decline since January 2010 and more than analysts expected. Growth over the twelve months from October [...]
GEITHNER WANTS CHINA’S HELP ON IRAN January 10, 2012 US Treasury secretary Tim Geithner was in China yesterday to meet Vice-Premier Wang Qishan and senior party members Xi Jinping and Li Keqiang. Geithner is there to push China to join the international sanctions imposed on Iran, in an effort to make the theocratic state drop its nuclear plans, and to discuss the strength of [...]
San Fran Fed wants fiscal boost January 10, 2012 Tax and spending policies must be changed to boost the US economy, John Williams, president of the San Francisco Fed, said yesterday. Moves to control the budget deficit “are essential in the long run” but are “damping the economy, not boosting it” currently, he said. Williams praised the steps the Fed has taken to loosen [...]
Low cost of migrants to services January 10, 2012 Immigrants impose a disproportionately low cost on the UK’s education, health, social and care services, according to research published yesterday by the National Institute for Economic and Social Research (NIESR). Their per capita consumption of public services is less than the population as a whole, particularly for those on student visas and economic migrants from [...]
CITY MOVES | WHO’S SWITCHING JOBS January 10, 2012 Hamilton Lane The independent private equity asset manager has expanded its global investment team by appointing Richard Hope as vice president in the London office. Hope will report to Jim Strang, who recently joined Hamilton Lane as a principal. Prior to joining the firm, Hope was a director at Alliance Trust Equity Partners, where he [...]
BEST OF THE BROKERS January 10, 2012 RECKITT BENCKISER Credit Suisse rates the consumer goods group “outperform” but has cut its target price from £40 to £38. The broker thinks Reckitt’s business model is still healthy, and that concerns over the sustainability of its margins have been overdone. The firm is suffering somewhat in Europe due to expanding rivals, though Credit Suisse [...]
EPISODE 41 – WHAT DID YOU GET FOR XMAS, DAVID? January 10, 2012 Daddy, isn’t it that Santa’s too fat to get down chimneys these days? Daddy, can I have a Millennium Falcon for Christmas? David, what time are your parents coming for lunch on Boxing Day? David? Oh, hello, it’s Juliette. Sorry to trouble you at home. I’m afraid I didn’t get around to sending cards this [...]
Nomura executive Bhattal quits after heavy losses January 10, 2012 Jesse Bhattal, the highest-ranking ex-Lehman Brothers executive at Japanese investment bank Nomura Holdings, has resigned after the wholesale division he led suffered heavy losses. The loss of Bhattal is the latest blow to Nomura’s ambitions to join the elite ranks of global investment banks following its acquisition of Lehman’s European and Asian operations after the [...]
Tesco loses market share in run-up to Xmas January 10, 2012 Britain’s biggest retailer, lost grocery market share in the run-up to Christmas as rivals fought back against its price-cutting campaign and cash-strapped shoppers flocked to discount stores, according to new data. Market researcher Kantar Worldpanel said grocery sales rose 4.8 per cent in the 12 weeks to 25 December. That lagged a 5.9 per cent [...]