House prices flat as Britons stuck renting February 26, 2012 HALF of Britons do not expect to buy a house until they are in their forties, a survey showed today, while the housing market stayed flat again through February. Average rents rose to £890 per month at the end of 2011, but 61 per cent of renters cannot afford to buy, according to a survey [...]
Businesses warn government not to scare off talented international workers February 26, 2012 GOVERNMENT plans to introduce a wage-based limit on migrants settling in the UK risks damaging Britain’s attractiveness to important workers, business groups have warned. The Home Office wants new rules, which will only allow non-EU immigrants earning over £35,000 to settle here, and limit the time foreign household staff can stay in the UK. However, [...]
IT industry sees signs of growth as hiring intentions hit new high February 26, 2012 PROSPECTS for pay in the IT industry are their brightest since the pre-recession years, according to a survey out today, indicating the worst may be over for the industry. The ReThink IT survey found 59 per cent of directors in the industry expect salaries for staff to rise in the year ahead, up from 47 [...]
Red tape and defaults hit bank lending February 26, 2012 STIFLING regulations and a rising number of defaults are forcing banks to cut down on lending, a new report from Ernst & Young warns this morning. Banks are being “forced on a diet”, according to the firm’s Marcel Van Loo, who said: “on the one hand they are being asked to hold more capital but [...]
Availability of new loans to factories shows modest signs of improvement February 26, 2012 THE AVAILABILITY of credit to British manufacturers has picked up modestly at the start of this year, according to industry group EEF. A balance of three per cent of factories reported that the availability of new lines of borrowing has improved in 2012, the group said today. Yet the EEF maintains that lending still needs [...]
Cost of living raises debt burden for households February 26, 2012 THE RISING cost of everyday living has tightened the “debt noose” around the necks of millions of Britons, a debt counselling charity will announce today. Nearly a quarter of households’ disposable income (23.8 per cent) goes towards interest payments on loans, on average, the Consumer Credit Counselling Service (CCCS) found at the end of last [...]
Figures to shed light on outlook for UK’s stores February 26, 2012 RETAILERS will be looking for signs of green shoots this week, with the release of two important gauges for the UK high street. The CBI’s distributive trades survey will shed light tomorrow on the current fortunes for British shops. And a separate survey on Wednesday, from GfK NOP, will reveal if consumer confidence is continuing [...]
ECONOMISTS’ VIEWS: ARE RETAIL SPENDING AND CONSUMER MORALE ON THE UP? February 26, 2012 DAVID MILLER | CHEVIOT ASSET MANAGEMENT “As inflation pressures dissipate, the lack of wage growth becomes less of a problem – people realise they have money to spend and get their confidence back. Yet it’s too early for a recovery to be apparent” MICHAEL HEWSON | CMC MARKETS “It’s going in the right direction. When [...]
BEST OF THE BROKERS February 26, 2012 HAYS Citigroup has downgraded the global recruitment company from “hold” to “sell” following first-half results last week, which saw earnings before tax of £63m in line with estimates. The broker is sceptical about Hays’ UK business, saying that it lacks strategic direction. Though it lifts its target price to 75p on earnings upgrades, the rating [...]
THE WEEK AHEAD February 26, 2012 Today A diverse group of FTSE 100 reporters will kick off a busy week in the corporate calendar this morning, with banking giant HSBC likely to be top of many investors’ watch list. Analysts are expecting the bank’s geographical diversity to offset any potential weakness in it investment banking division, with profits expected to hit [...]
