SUMMER WILL BE CHOPPY FOR INVESTORS July 12, 2009 JANE FOLEY RESEARCH DIRECTOR, FOREX.COM THE FTSE 100 index and sterling have been trading in a similar pattern since the spring. Both the FTSE 100 and the Bank of England’s effective exchange rate – which measures movements in the pound against a basket of currencies weighted by their importance to UK trade flows – trended [...]
SUMMER WILL BE CHOPPY FOR INVESTORS July 12, 2009 JANE FOLEY RESEARCH DIRECTOR, FOREX.COM THE FTSE 100 index and sterling have been trading in a similar pattern since the spring. Both the FTSE 100 and the Bank of England’s effective exchange rate – which measures movements in the pound against a basket of currencies weighted by their importance to UK trade flows – trended [...]
RECESSION OVER FOR BATTERED BRITAIN June 10, 2009 A TOP think-tank yesterday called an end to the bitter recession that has been crippling Britain, in a move that was welcomed across the City last night. The National Institute for Economic and Social Research (NIESR) said output grew 0.1 per cent in May and 0.2 per cent in April. Martin Weale, its director, said [...]
Home loans at lowest level since 2001 May 27, 2009 MORTGAGE lending sunk to its lowest level for eight years in April, data showed yesterday. Net lending by the major banks was £2.7bn during April, down from £3.4bn in March – the lowest figure since March 2001, according to the British Bankers Association (BBA). However, the number of mortgages approved for house purchases actually rose [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 23, 2009 FINANCIAL TIMES GCL-POLY TO BUY SOLAR ASSETS FOR $3.4BNGCL-Poly Energy, a Hong Kong-based power plant operator, said yesterday it would pay HK$26.4bn (£2bn) to acquire solar assets from its chairman as it seeks to expand in the green energy sector. The company said it would buy Jiangsu Zhongeng, a supplier of polysilicon and wafers used [...]
Pay cuts loom as prices fall to 61-year low May 19, 2009 AN ESTIMATED 80 per cent of workers face the prospect of a pay freeze or cut, after the measure of inflation used for the majority of wage settlements plunged last month. The Retail Prices Index (RPI), which is used for workers’ wage settlements and includes mortgage and rent payments, shrank to -1.2 per cent year-on-year [...]
Gilt prices on course to fall as UK public debt threatens credit rating May 25, 2009 MARKETS were rattled last Thursday when ratings agency Standard & Poor’s announced that it had downgraded its outlook on Britain’s AAA credit rating to “negative” from “stable” for the first time since October 1993. Lower credit ratings result in higher borrowing costs because the borrower is considered more likely to default on its debt. If [...]
Gilt prices on course to fall as UK public debt threatens credit rating May 25, 2009 MARKETS were rattled last Thursday when ratings agency Standard & Poor’s announced that it had downgraded its outlook on Britain’s AAA credit rating to “negative” from “stable” for the first time since October 1993. Lower credit ratings result in higher borrowing costs because the borrower is considered more likely to default on its debt. If [...]
Shadow MPC divided over policy moves June 3, 2009 DESPITE early signs of an economic recovery, interest rates should be kept on hold at 0.5 per cent according to all nine of City A.M.’s shadow MPC committee, ahead of the Bank of England’s June monetary policy decision due today at midday. The Bank of England has already announced asset purchases of £125bn out of [...]
AN ABUNDANCE OF GLITTER FOR THE ASIAN WOMEN OF ACHIEVEMENT May 21, 2009 LONDON’s most successful Asian ladies were out in force on Wednesday night for perhaps the sparkliest evening of the year, the Asian Women of Achievement Awards, in association with Lloyds TSB. The star-studded guest list included Prince Charles and Camilla, Duchess of Cornwall, as well as BBC Dragon James Caan, MP Tessa Jowell, Lib Dem [...]