US economic recovery looks weak as manufacturing orders take a hit February 28, 2012 US MANUFACTURING orders were weak and house prices kept tumbling last month, data out yesterday showed – though consumer confidence did rise in February. Durable goods orders fell four per cent in January, the Commerce Department said yesterday – the largest fall since January 2009 when the country was mired in recession. The orders rose [...]
Consumers remain cautious but show signs for optimism February 28, 2012 CONFIDENCE in the UK remained at very low levels this month, according to a survey published today. The GfK NOP index showed consumers feel slightly less negative about their financial situation over the past year, but are still worried about the general economic situation and are more concerned about making large purchases. The overall index [...]
House prices stabilised in January on falling supply February 28, 2012 HOUSE prices stabilised in January, the Land Registry said yesterday, as the market in London and the south east continued to rise much more strongly than the rest of England and Wales. Prices nationwide rose 1.1 per cent in the month, but remain down one per cent compared with January 2011. London’s prices were up [...]
Savers are not using full ISA allowances February 28, 2012 AS the deadline for this year’s ISA allowance approaches on 5 April, research claims that just half of Britons will contribute to the tax-free schemes, with the UK’s total ISA savings falling £182bn short of the combined allowance for the year. Mainly citing financial restraints such as paying off credit card bills, those who do plan [...]
CITY MOVES | WHO’S SWITCHING JOBS February 28, 2012 Houlihan Lokey Stephen Winningham has joined the international investment bank as managing director, and co-head of European corporate finance in the firm’s London office. Winningham was until recently head of major corporates at Lloyds Banking Group, overseeing the group’s coverage of UK and US investment grade corporate clients. Prior to this, he was global head [...]
BEST OF THE BROKERS February 28, 2012 BANCO ESPIRITO SANTO Nomura has maintained its negative view on Portuguese banks, but sees Banco Espirito Santo as better placed versus its domestic peers against a possible Portuguese debt restructuring. The broker also says it faces a lower shortfall than others against capital requirements for 2012 issued by both the Bank of Portugal and the [...]
Ireland to hold referendum on EU fiscal treaty February 28, 2012 Ireland will hold a referendum on Europe’s new fiscal treaty, Prime Minister Enda Kenny (pictured) said setting the stage for the first popular vote on the German-led plan for stricter budget discipline across the region. After joining 24 other EU states last month in agreeing the pact for stricter budget discipline, Kenny sought advice from [...]
FTSE gains fuelled by miners February 28, 2012 The FTSE 100 tracked overnight gains in Asia fuelled by lower oil prices and rising metal prices. Brent crude futures slipped to below $124 a barrel after a surge which had been triggered by fears over supply from the Middle East. A shortage would threaten to derail global growth and investors have been eyeing oil [...]
Barclays was at centre of tax loophole clampdown February 28, 2012 Barclays said it was the bank at the centre of a clampdown by Britain on two tax avoidance schemes that the government said would close loopholes and raise more than £500m in tax. Barclays said it notified Britain’s tax office about its plan to buy back its own bonds, on which it and other banks [...]
Sales growth slows at Whitbread February 28, 2012 Sales growth at Whitbread, owner of hotel chain Premier Inn and Costa Coffee, slowed in the fourth quarter as consumers struggled with a lack of disposable income. Overall group sales rose 1.8 per cent in the 11 weeks to February 16, but like-for-like sales at Premier Inn fell by 0.9 per cent due to poor [...]