Optimism about recovery is misguided, says report November 29, 2009 The Bank of England’s optimism about the UK’s economic recovery is misguided, according to the latest Business Trends report from business advisors BDO Stoy Hayward. In its Quarterly Inflation report released earlier this month, the Bank of England reported that it expects the UK economy to grow by over 2.5 per cent by the end [...]
Tourism boon from trips to escape gloom November 29, 2009 CONSUMERS trying to escape the economic gloom by taking last-minute breaks are set to help tour operators to post higher annual profits this week, but trading will stay tough. Thomas Cook and TUI Travel are likely to report relatively strong numbers today and Tuesday respectively, as appetite for holidays holds up despite late bookings. Cook [...]
The City of London is heading for a bright future November 29, 2009 This evening, the City of London Corporation is hosting a London Business School seminar to discuss “The Future of the City of London.” As the dust from the financial crisis starts to settle and policy makers begin planning for the future, now is the perfect time to be discussing how the City should position itself [...]
Scottish economy set for further pain as recovery lags behind rest of the UK November 29, 2009 ERNST & YOUNG’S Item Club says the Scottish economy is set for a tough future as it continues to lag behind the rest of the UK. Job losses are predicted for at least the next two years, and unemployment is expected to reach eight per cent. Scottish financial services companies might have to cut around [...]
Letter condemns RBS for irresponsible investments November 29, 2009 IAIN BANKS, the Scottish author, along with MPs and church leaders, has written to the chancellor to complain about the government’s handling of Royal Bank of Scotland. More than 30 people have signed a letter to Alistair Darling, complaining about how RBS is being allowed to invest. They say the government has written “a blank [...]
HOW WILL TOUR FIRMS FARE DURING THE DOWNTURN? November 29, 2009 ANDREW FITCHIE COLLINS STEWARTOperators have demonstrated the flexibility of their businesses to withstand demand pressures. On balance we remain lukewarm on the sector, given the likely impact of increasing unemployment over the next year and the constraints tax rises will put on discretionary spend. SAM HART CHARLESSTANLEYOutlook comments will be closely analysed. Booking patterns for [...]
Gartmore gears up for acquisitions November 29, 2009 GARTMORE, the City investment house, plans to make strategic acquisitions after it has boosted its balance sheet through its expected £1bn stockmarket flotation. Chief executive Jeffrey Meyer said the firm would look to buy medium-size boutiques whose skill sets complemented Gartmore’s expertise in hedge funds and European equities. Gartmore’s initial public offering is due to [...]
WTO told to speed up talks November 29, 2009 European businesses are getting frustrated over the slow progress in the Doha Round of Trade talks and Businesseurope, the European Union business lobby, yesterday called on the World Trade Organisation (WTO)to speed up the negotiations. Eight years ago the WTO launched its first ever development round of trade talks in Qatar’s capital city. But the [...]
Property market bottoms out, Barclays Wealth says November 29, 2009 CONFIDENCE in both residential and commercial property is on the up, a report out from Barclays Wealth will show today. The survey, the tenth in a series from the global wealth manager and the Economist Intelligence Unit, will show that twice as many respondents (35 per cent) say they are planning to increase their property [...]
New guidelines released to counter soaring cash delivery vehicle robberies November 29, 2009 AN EXPECTED surge in attacks on cash delivery vehicles has prompted the British Retail Consortium (BRC) to publish fresh security guidelines today. The end of the year is regarded as a peak season for attacks, with most occuring in the final quarter of 2008. The first 10 months of 2009 have already seen 15 per [...]