EU sees jump in trade to China February 13, 2012 Exports from the EU to China dramatically outgrew sales to other countries and regions in the last decade, Eurostat data revealed yesterday. The 27 countries saw exports to China rise consistently from €26bn (£21.78bn) in 2000 to €113bn in 2010, defying the overall drop in exports experienced in 2009. Imports rose from €79bn to €283bn [...]
Debt consolidation hits £1.5bn February 13, 2012 Consumers are set to borrow £1.5bn for debt consolidation in the thirst three months of 2012, according to data out yesterday from Sainsbury’s Finance. The 157,000 loans account for almost one in three of all unsecured loans taken out in the period, and average £9,800 each. “For those who perhaps have balances on credit cards [...]
CITY MOVES | WHO’S SWITCHING JOBS February 13, 2012 Avoca Capital The European credit investment manager has strengthened its credit offering by hiring Credit Suisse banker Vaibhav Piplapure, who joins as head of structured and illiquid credit. At Credit Suisse, Piplapure was most recently head of asset finance for Europe in the securitised products group. Prior to that, he was global head of the [...]
BEST OF THE BROKERS February 13, 2012 RWS HOLDINGS Numis has upgraded the intellectual property support service provider from “add” to “buy” and increases its target price on the stock from 534p to 565p, after the company reported trading in its first quarter has been in line with expectations. The broker sees RWS as a highly attractive business, with solid top line [...]
EPISODE 46 – A rather BAD NEWS DAY February 13, 2012 I arrive in the office a few minutes late. The last couple of nights I’ve been struggling to sleep for much of the night, only to slip into deep sleep just as it’s time to rise and shine. Well, that’s how it seems to me. Emma says I’m still snoring throughout the night. Gina has [...]
FTSE hits six-month high fuelled by Greek deal February 13, 2012 The FTSE 100 climbed 0.9 per cent to a six-month high of 5,905.7 as investors’ confidence was buoyed by Greek politicians finally approving a new set of austerity measures. However, the move triggered civil unrest on the streets of Athens with the most violent clashes since the country’s disastrous financial situation was laid bare. The [...]
OECD says economic recovery broadening February 13, 2012 The international economic outlook is showing tentative signs of improvement, with the momentum shift spreading from the United States and Japan to other developed countries, the OECD’s December survey of growth prospects showed. The survey picture was mixed in the Eurozone, where seven countries were now “pointing towards a positive change in momentum” while the [...]
BAA China traffic hit by capacity constraints February 13, 2012 British airport operator BAA said capacity constraints at London’s Heathrow airport led to a fall in passenger traffic to China last month with competing European hubs picking up the slack. The owner of Heathrow – Europe’s busiest hub – on said passenger traffic at its airports edged up last month with Heathrow enjoying its busiest [...]
Banks miss SME lending targets February 13, 2012 Britain’s top banks fell short of their government targets to lend to small businesses last year, Bank of England data showed on Monday, dealing a blow to the Conservative-led coalition’s hopes to get credit flowing through the economy to boost growth. However, banks exceeded their target for lending to all businesses, making a total of [...]
Dairy Crest warns of £4m hit as customer calls in administrators February 13, 2012 Dairy Crest said it had made a £4m provision for bad debt after one of its customers, Quadra Foods called in administrators. In a statement the foods group said: “This is the total debt owed to us by Quadra, although we are looking at several options to reduce the amount involved.” “Dairy Crest has annual [...]