Morgan Sindall profits slide 12 per cent but firm is hopeful about regeneration projects February 21, 2012 REGENERATION and construction firm Morgan Sindall said it was confident it could grow the business against a backdrop of tough market conditions, as the group unveiled a 12 per cent drop in profits. Profits before tax and exceptional items fell to £45.3m last year compared with £51.3m the previous year while revenues rose six per [...]
UK is ahead of deficit target February 21, 2012 THE GOVERNMENT’S deficit reduction plan is well ahead of schedule, with an unexpectedly large surplus in January bringing down the year’s projected borrowing figures, data from the Office for National Statistics (ONS) showed yesterday. The surplus hit £7.75bn in the month, up from £5.20bn last January, and taking borrowing in the financial year so far [...]
CBI: Cut red tape and boost infrastructure to help growth February 21, 2012 CUTTING the budget deficit is the biggest step the government can take to boost business confidence and promote economic recovery, the Confederation for British Industry (CBI) said today, arguing that while tweaks to taxes can help firms, the government should restrain from a budget spending splurge. New measures introduced at the Budget next month should [...]
Economic activity kept on rising through January in US and Japan February 21, 2012 ECONOMIC activity stayed above its trend rate in January, according to the Chicago Fed’s activity index published yesterday. Though the index fell to 0.22 from 0.54 in December, it continued to point to economic growth, with the three-month moving average rising from 0.06 to 0.14. Any figure below zero indicates below-trend growth. Employment growth appeared [...]
BEAN: LOOSE POLICY IS THE ONLY WAY February 21, 2012 Savers who have been hurt by low interest rates “have every right to feel aggrieved at losing out,” said the Bank of England’s Charlie Bean in a speech last night. However, they must remember low interest rates boost economic activity and create jobs for people who also “did nothing to create the financial crisis,” he [...]
Google offers real-time LSE data for free February 21, 2012 GOOGLE is taking on the world’s leading financial data firms after striking a deal to provide real-time prices of stocks on the London Stock Exchange (LSE) for free. The agreement means that users of the Google Finance website can now view a live feed of the “last trade price” – a service that was previously [...]
Gove launches scathing attack on Leveson inquiry into press February 21, 2012 MICHAEL Gove, the education secretary, yesterday launched a scathing attack on the Leveson inquiry, which he blamed for cultivating a “chilling atmosphere towards freedom of expression”. In comments that could be seen as critical towards David Cameron, who ordered the Leveson inquiry, Gove said there was a temptation for politicians to “succumb” to an establishment [...]
MUNCH’S SCREAM TO GO ON SALE IN NEW YORK February 21, 2012 EDVARD Munch’s iconic painting The Scream will be auctioned in New York this year, with the price for the 1895 masterpiece expected to exceed $80m (£50.7m). The painting will be sold at Sotheby’s in New York on 2 May, but will be on public display in London for the first time ever from 13 April. [...]
TNT silent over UPS bid as losses mount February 21, 2012 SHARES in Dutch delivery firm TNT Express fell by almost three per cent yesterday after it said it was planning to curb its international expansion plans in the wake of a net loss of €173m (£145m) for the fourth quarter. Despite pushing for a higher price from potential suitor UPS – whose €9 per share [...]
European corporate debt issues up as banks struggle to provide funds February 21, 2012 EUROPEAN bond activity is showing signs of recovery, with corporate debt issues so far in 2012 worth $75bn (£47bn), an increase of 83 per cent on the same period last year, according to data from Thomson Reuters. The data suggests that companies that struggle to borrow from banks are instead turning to capital markets for [...]
