Broadbent says jobs boom due to banks’ flaws September 12, 2012 FALLING unemployment is due to firms substituting labour for the capital they cannot acquire from the financial sector, monetary policymaker Ben Broadbent said in a speech yesterday, dismissing the idea of a hidden recovery. “In more normal times, the three per cent drop in output since mid-2007 would have been associated with an eight per [...]
Treasury denies it plans to drop a key deficit reduction target September 12, 2012 GEORGE Osborne has no plans to abandon his target of lowering the national debt as a proportion of GDP by 2015, the Treasury said yesterday. The chancellor could struggle to meet the goal as borrowing is staying stubbornly high despite his efforts to close the deficit. The latest figures put the deficit at £47.2bn in [...]
Industry grows in the Eurozone despite slump September 12, 2012 EUROZONE industrial production climbed in July, data from Eurostat showed yesterday, despite the ongoing debt crisis and economic slump in the single currency area. Eurozone industry produced 0.6 per cent more than in June, while the EU as a whole saw 1.1 per cent growth – both represented recoveries from small declines in June. But [...]
Entrepreneurs locked in grey economy by red tape and tax September 12, 2012 ENTREPRENEURS are deciding not to register their small start-ups due to the government’s excessively aggressive approach on red tape and taxes, according to a report released by the charity RSA today. Business owners are deciding not to register due to the hassle and cost of dealing with the government, a YouGov poll taken in tandem [...]
Mortgage lending booms in July as market strengthens September 12, 2012 A JUMP in loans to home movers outweighed a slip in lending to first-time buyers, data from the Council of Mortgage Lenders revealed yesterday, leading to an overall increase in mortgage market lending. There were 30,500 loans made to homeowners moving house in July, up 8.2 per cent from June, together totalling £5.1bn, again up [...]
Who’s switching jobs September 12, 2012 Axa UK Yves Masson has been appointed to the position of chief executive of personal direct and partnerships at the UK division of the insurance and asset management group. He has worked at Axa since 1985, and was most recently chief executive of Axa Direct Assurance. Masson has also previously served as chief executive of [...]
Best of the Brokers September 12, 2012 WOLSELEY UBS has cut the plumbing and heating products group from “buy” to “neutral”, warning that shares are unlikely to rise at current trends. “We believe the fundamentals remain positive with a solid market share …but we believe this is now priced in,” UBS said, raising its target to 2,580p. GEM DIAMONDS Weakness in the [...]
Fears US won’t deliver hit FTSE September 12, 2012 BRITAIN’S top shares retreated yesterday as optimism over a German constitutional court ruling in favour of the Eurozone’s new bailout fund faded, and investors focused on the possibility the US may not come up with eagerly anticipated stimulus. The FTSE 100 ended down 10.11 points, or 0.2 per cent, at 5,782.08, having risen as high [...]
Wall St flat as awaits action September 12, 2012 WALL STREET ended little changed yesterday, erasing early gains, as investors turned cautious before a Federal Reserve decision on another round of monetary stimulus to boost the economy. Stocks got a lift early after Germany’s constitutional court approved the new Eurozone rescue fund, which will allow the European Central Bank to buy sovereign bonds in [...]
How to decide if a CFA is the right choice for you September 12, 2012 FOR anyone with four years’ experience in the investment industry, there’s a qualification out there that proposes to provide you with the broad-based knowledge and skills you need to succeed in any job in the sector. The chartered financial analyst (CFA) programme certainly has its supporters. Abraham Harris, analyst in global talent management at BlackRock, [...]
