CBI: Service sector shows signs of life February 27, 2012 THE ECONOMY showed hints of recovery in the last three months, according to an influential survey of the vital services industry published today. Business volumes did fall in the quarter, according to the Confederation of British Industry’s (CBI) services sector survey – but at a slower rate than in the previous three months. In consumer [...]
House prices down by one third in four years after inflation February 27, 2012 HOUSE prices in the UK have plummeted by a third, in real terms, since the middle of 2007, according to figures released this morning. Although prices declined by a modest one per cent last year, the overall drop since the credit crunch is even sharper than in Spain, where prices are down 27 per cent, [...]
Male non-executives are opposed to quota for women in boardroom February 27, 2012 CHAIRMEN and non-executive directors are strongly opposed to the idea of new quotas on the proportion of women in the boardroom, a survey revealed yesterday. Fewer than one in 18 chairmen believe a quota would be helpful, the survey claims, while seven in 10 directors say it would either make no difference to the firm’s [...]
REPORT: EU DRIVES UP FOOD PRICES February 27, 2012 The EU’s farming subsidies push up food prices and push down production, according to a report out today from the Institute for Economic Affairs. The Common Agricultural Policy’s budget stands at €55bn (£46.5bn) this year and is set to hit €63bn by 2020, supporting inefficient farms and increasing land prices, the IEA said. Picture: GETTY
Small firms cut hiring plans February 27, 2012 Most small firms will cut back on new jobs this year compared with last year, according to research out today from Huddlebuy. The survey found 59 per cent of small businesses expect to hire fewer staff in 2012 than 2011 and 36 per cent will not be creating any jobs at all. “The small business [...]
Portugal set to get bailout nod February 27, 2012 Portugal will today present the results of the third “troika” review of its performance under a €78bn bailout and is expected to glean high marks for economic reform and cost-cutting efforts. European Union, European Central Bank and IMF officials have spent about two weeks in Lisbon carrying out the review and are likely to give [...]
CITY MOVES | WHO’S SWITCHING JOBS February 27, 2012 Berwin Leighton Paisner BLP has hired Linklaters’ former global corporate head David Barnes to its City corporate team. Barnes will join next month as a partner in the firm’s London corporate group after retiring from Linklaters last summer. Barnes left the magic circle firm after standing as one of five candidates for the senior partner [...]
BEST OF THE BROKERS February 27, 2012 HAMMERSON Deutsche Bank has maintained its “buy” rating on the property group and raised its target price by 20p to 520p after consensus-beating results from the company last week. The broker estimates that Hammerson will deliver its planned dividend increase in 2012, and increases its earnings per share outlook for 2012 and 2013. It does [...]
HSBC leads banking shares down despite bumper profit February 27, 2012 BRITAIN’S leading share index ended lower yesterday, pressured by weakness in banking issues after international leaders said more money was needed from Europe to help ease the region’s debt crisis, and with heavyweight HSBC falling after its results. Eurozone countries pledged at a meeting of finance leaders of G20 economic powers on Sunday to reassess [...]
S&P at its highest since mid-2008 February 27, 2012 THE benchmark S&P 500 closed at its highest level since mid-2008 yesterday, extending gains for a third session as oil prices retreated after a recent rally and data showed further improvement in the US housing market. The S&P and the Nasdaq both eked out gains, while the Dow closed barely lower. An industry group reported [...]
