DAVID MILES STAYS DOVISH July 15, 2010 BANK of England Monetary Policy Committee (MPC) member David Miles yesterday argued that it was not yet appropriate to start tightening policy, saying “fragilities in the banking system remain and pose risks that the recovery in demand and activity we have seen across Europe – including the UK – falters”. The dovish external MPC member [...]
US data indicates pace of recovery is beginning to slow July 15, 2010 NEW claims for jobless benefits tumbled to a near two-year low last week, but a modest gain in industrial output and a third monthly drop in wholesale prices in June confirmed a slackening in the economy’s recovery. Other data yesterday also implied that the slowdown in manufacturing extended into July, but analysts said there was [...]
CITY VIEWS: SHOULD INTEREST RATES RISE? July 15, 2010 JAQUES VANZYL ALLIED WORLD ASSURANCE “At the moment I’m happy with the current rate. I have a flexible rate on my mortgage so my payments are very low. On the other hand, we also have savings and they have taken a hit, so it’s a bit of a conundrum. I’m looking for a fixed rate [...]
Britons up stake in their homes July 15, 2010 British homeowners ploughed £3.2bn into their properties in the first quarter of this year, according to Bank of England figures published yesterday. This was slightly less than the £3.4bn recorded in the last quarter of this year. This means it is now two years since Britons last withdrew equity from their homes.
China cools in second quarter July 15, 2010 China’s economic growth slowed in the second quarter to 10.3 per cent from a year earlier, a touch weaker than expected, in response to the fading of government fiscal and monetary stimulus. The reading was slightly below market forecasts of 10.5 per cent growth. Particularly striking was a sharper-than-expected drop in factory growth to 13.7 [...]
Eurozone industrial output rises July 15, 2010 Industrial production in the Eurozone rose 0.9 per cent month-on-month in May and 9.4 per cent on May 2009. The expansion was broad-based with healthy monthly production gains in all sectors. It was up three per cent in the three months to May compared to the quarter to February. Even flat output in June (which [...]
Cable: Cost of universities is set to soar July 15, 2010 THE cost of a university education is set to soar as the public spending squeeze takes its toll on higher education. However, business secretary Vince Cable vowed repayments will be fairer and linked to earnings. A rise in the amount students have to pay for degree courses is inevitable, Cable said, as the government seeks [...]
Sage is poised to appoint Guy Berruyer as its chief executive July 15, 2010 UK SOFTWARE group, Sage, is on the brink of appointing Guy Berruyer as its new chief executive. Berruyer is understood to be the favourite to take over from current boss Paul Walker, who is stepping down from the post after 16 years, according to the Financial Times. Contracts are expected to be signed within days. [...]
Osborne offers MPs veto on new head of the OBR July 15, 2010 THE government started the search for the new head of the Office for Budget Responsibility (OBR) yesterday – but it remains to be seen how many applicants will put their name forward to head up the controversial department. Chancellor Osborne is desperate to draw a line under the independence debacle surrounding the OBR, which was [...]
SuperGroup profit triples on expansion July 15, 2010 FASHION retailer SuperGroup’s full-year pre-tax profit soared to £22.46m from £7.59m last year. Group revenue for the 52 weeks ended 2 May, was up 83.1 per cent to £139.4m from £76.14m in the comparable period. The surge has been fuelled by the company’s Superdry label which has been sported by a host of celebrities including [...]
