UK manufacturing sector growth slows March 1, 2012 Britain’s manufacturing sector grew in February, albeit at a slower pace than in the previous month, raising chances the sector will be a driver of growth for the overall economy in the first quarter. The Markit/CIPS Manufacturing Purchasing Managers’ Index (PMI) ticked down to 51.2 from a slightly downwardly revised 52.0 in January, which was [...]
China factory growth picks up March 1, 2012 China’s factories grew more than expected in February as new export orders for big firms bounced back, a government survey showed, while a private-sector report portrayed a different picture of smaller companies lagging behind the rebound. China’s official purchasing managers’ index (PMI) rose to 51.0, above expectations of 50.7 and higher than 50.5 in January, [...]
House prices rise more than expected March 1, 2012 House prices rose more than expected in February, data from mortgage lender Nationwide showed. Nationwide said that house prices ticked up by a seasonally adjusted 0.6 percent on the month – the biggest rise since April 2010 – and were 0.9 percent higher than a year earlier. That is follows a surprise monthly fall in [...]
Stagecoach buoyed by British rail performance March 1, 2012 Transport group Stagecoach said recent trade had been good, driven by strong growth at its rail businesses, and that it was hopeful of winning more rail franchises in Britain. “Overall current trading remains good and we believe the prospects for the group remain positive,” the company said in a statement on Thursday. “The overall profitability [...]
WPP profits rise as it awaits Olympics boost March 1, 2012 WPP, the world’s largest ad group, posted a better-than-expected 19 rise in 2011 profit, and reaffirmed its targets for 2012, when it will benefit from the Olympics, European Soccer Championships and the US presidential election. The company, whose portfolio includes Young & Rubicam, Ogilvy & Mather, and Group M, posted headline pretax profit of £1.229bn [...]
GOLD SLUMPS AS FED COOLS ON QE3 February 29, 2012 GOLD plummeted yesterday as traders gambled that the American recovery is set to rule out further monetary stimulus, dubbed QE3. Federal Reserve chief Ben Bernanke appeared more upbeat than usual during his testimony to politicians in Washington DC, giving no hint that more quantitative easing is on the cards. Ultra-loose money has previously been one [...]
James Murdoch quits as News International chairman February 29, 2012 JAMES Murdoch has quit his job as executive chairman of News International, in a move that cements his exit from the British newspaper industry and his recent relocation to parent firm News Corp’s New York headquarters. A News Corp statement said his departure would allow him to concentrate on the company’s expanding global television branches. [...]
Barclays in key hiring from rival February 29, 2012 BARCLAYS Capital has demonstrated its ambition to become a leading player in UK investment banking, hiring Mark Astaire, head of corporate broking, from rival Bank of America Merrill Lynch. Astaire, who is now on three months’ gardening leave, joins his former colleague Richard Taylor at BarCap, where he will be charged with driving the team [...]
Nasdaq hits 3,000 at last February 29, 2012 THE NASDAQ Composite index skimmed the 3,000 mark yesterday for the first time in over a decade, propelled by Apple’s surge, before sinking back below the line. In a hopeful hint that investor faith could be returning to a pre-dotcom level – the Nasdaq was last above 3,000 as the shutters closed on the internet [...]
Entrepreneurs finally fighting back February 29, 2012 BUSINESS people have a tendency to run scared of political debate. They rarely want to criticise politicians on the record (though they are often extremely outspoken in private). They very rarely agree to give interviews to discuss controversial subjects. This is a great tragedy: capitalists are failing to speak up for capitalism, allowing those who [...]
