City Moves for 22 February 2013 | Who’s switching jobs February 22, 2013 Withers The law firm has announced the appointment of Matthew Feargrieve as a partner. Feargrieve will be responsible for establishing a pan-European investment funds practice. He joins from Appleby, where he was a partner and team leader for funds and investment services. He has also held senior positions at Mourant du Feu & Jeune and [...]
Best of the Brokers February 22, 2013 CARILLION Liberum Capital has reiterated its “Sell” rating on construction business Carillion ahead of next week’s interim results, with a target price of 322p. The analysts expect to a see reduced order book for future work in the face of a tough UK construction market, as well as a disappointing outlook in the Middle East. Overall [...]
Zut alors: French minister rattled February 22, 2013 SHOCKED French industry minister Arnaud Montebourg has put pen to paper and sent a spluttering response to US tyre firm Titan’s boss Maurice Taylor in defence of France’s “favourable way of life”. In Taylor’s letter, which The Capitalist reported on yesterday, he declined an offer to buy a French tyre factory, criticising French workers for taking [...]
Cyclical stocks drop after Fed warns over QE February 22, 2013 LONDON REPORT BRITAIN’S blue chip shares posted their biggest one-day loss since July yesterday on concerns the Federal Reserve could end its stimulus programme sooner than expected, removing a driver of the recent equity rally on both sides of the pond. The FTSE 100 closed down 103.83 points, or 1.6 per cent, at 6,291.54, dropping [...]
Growth fears push Wall St down again February 22, 2013 NEW YORK REPORT US stocks fell for a second straight day yesterday and the S&P 500 posted its worst two-day loss since November after reports cast doubt over the health of the US and Eurozone economies. But a late-day rally helped stocks erase some of their losses with most of the pullback concentrated in the [...]
Coalition U-turn on private prisons will undo 20 years of real progress February 22, 2013 THE coalition’s pursuit of competition in healthcare may have grabbed the headlines, but it was the Ministry of Justice that had made the most headway. In 2011, its Competition Strategy set out a “guiding principle” that competition will apply to all services not bound to the public sector by statute. After two decades of limited [...]
Google Glass won’t save humanity – but could show us a larger richer world February 22, 2013 THE LONG VIEW TWO VISIONS of our technological future are battling it out this week. Google has released a promotional video celebrating the potential of its astonishing, voice-activated heads-up display Google Glass, complete with acrobats on video chat in mid-air. Meanwhile, the new series of Charlie Brooker’s TV show Black Mirror continues with a bleak [...]
How clever traffic management can boost UK growth February 22, 2013 BRITAIN’S roads are being choked by a swarm of unnecessary, expensive, and damaging restrictions. Between 2000 and 2008, the number of traffic lights rose by over 30 per cent, boosted by an extra 1,800 imposed on London’s streets under former mayor Ken Livingstone. There are now over 30,000 signal-controlled junctions and 25,000 pelican crossings across [...]
The Debate: After interest on QE gilts boosted UK’s £11.4bn January surplus, do the figures lack credibility? February 22, 2013 YES Nida Ali The public sector finances demonstrate the problems caused by the statistical fudges of the past couple of years – like the transfer of coupon interest that the Bank of England has earned from buying gilts under its programme of quantitative easing. It’s difficult to decipher the underlying trends. It appears that the [...]
Letters to the Editor February 22, 2013 Runaway inflation [Re: Sorry savers: More easing is still needed to support UK recovery, yesterday] Employment is at its highest level since 1971. Meanwhile, real wages are being driven down by runaway inflation induced by the Bank of England’s weak pound policy. In past recessions, it was the UK consumer that was the driving force [...]
