‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
IMF praises Italy’s austerity May 26, 2010 The International Monetary Fund yesterday welcomed Italy’s commitment to reduce its fiscal deficit and said containing the public wage bill should be the focus of cost-cutting measures. The IMF strongly commended measures adopted by Italy’s cabinet late Tuesday to cut the fiscal deficit to 2.7 per cent of GDP by 2012. Italy’s deficit was 5.3 [...]
British Airways and cabin crew union agree to restart negotiations May 26, 2010 BRITISH Airways said it would resume talks with the union of striking cabin crew later yesterday in an attempt to avert further industrial action. Cabin attendants are in the third day of a five-day strike, protesting over staffing levels and cuts to benefits. The stoppage follows seven days of walkouts in March. Previous negotiations in [...]
Shaftesbury sees West End rents rise May 26, 2010 PROPERTY group Shaftesbury yesterday said tourists travelling to London had not been put off by the economic woes of the Eurozone, as it announced a 14.3 per cent jump in net asset value for the first half of the year. “Although the outlook for the UK and European economies remains uncertain, London’s West End is [...]
Lettings showing signs of recovery as rents increase May 26, 2010 ALMOST a third more landlords saw home rental rates rise in the past three months than those who reported falls, signalling a sharp recovery in the residential lettings market, according to the Royal Institution of Chartered Surveyors (RICS). RICS said 30 per cent more of its UK members reported increasing rents in the three months [...]
New BBC iPlayer ties up with social networks May 26, 2010 THE BBC yesterday launched a new version of its popular iPlayer web video service with prominent links to rivals’ sites, as it waits to see if the new coalition government will limit its funding or powers. The new version of the iPlayer, one of Britain’s top websites, will allow viewers to personalise home pages and [...]
FTSE closes above 5,000 led by miners who now may not face Aussie tax hikes May 26, 2010 BRITAIN’S top share index recovered to close above 5,000 points yesterday, led by miners after reports the Australian government may relax punitive tax measures, while Burberry jumped after strong earnings. The FTSE 100 ended up 97.40 points or 2 per cent at 5,038.08, having tumbled 2.5 per cent on Tuesday to its lowest close since [...]
Dow falls below 10,000 on Eurozone debt worries May 26, 2010 WALL Street staged yet another late-day reversal yesterday to end lower as news suggesting China was reassessing its Eurozone debt holdings pushed investors into profit-taking mode. The Dow closed below 10,000 for the first time since 8 February. The late turnaround in stocks showing investor psyche remains fragile, and investors are inclined to sell strength [...]
C&W positive despite £94m loss last year May 26, 2010 CABLE & Wireless Worldwide has reported losses of £94m in its first set of results since splitting from its regional telecoms operation. C&W Worldwide’s loss for the year was prompted by £210m of exceptional items, including £143m stemming from the recognition of the deficit in its defined benefit pension scheme and £13m of demerger-related costs. [...]
ANALYST VIEWS: WHAT DO THE RESULTS MEAN FOR CABLE & WIRELESS? May 26, 2010 MICK GILLIGAN | KILLIK & CO “These are a credible set of results and investors should take heart from the evidence that the shift towards higher margins is coming through. In addition to the margin improvement over the year, the outlook statement indicates that 86 per cent of the sales pipeline is in higher margin [...]
Gibraltar eyes larger hedge fund sector May 26, 2010 GIBRALTAR is looking to grow as an international destination for hedge funds as the prospect of tighter regulation makes more exotic jurisdictions appear less attractive. Senior figures said the British territory, which is part of the European Union, could benefit from the forthcoming Alternative Investment Fund Managers directive which will make it harder for non-EU [...]
