Michael Page profit jumps but banking tails off August 15, 2011 Recruitment firm Michael Page has seen a jump in revenue and profits in 2011 but said profit growth in the banking sector has slowed in the second half of the year. Revenue in the first half of 2011 rose 27.6 per cent, or 25.8 per cent using constant exchange rates (CER), to £502.1m from £393.5m [...]
US retail sales rise to ease recession fears August 12, 2011 US retail sales rose in July by the largest amount in four months, helping to dampen fears of a fall back into recession in the short term. Sales rose 0.5 per cent in July, in line with expectations, and followed an upwardly revised 0.3 per cent gain seen in June, according to the Commerce Department. [...]
SVG mulls share buyback after asset rise August 12, 2011 Private equity investor SVG Capital said asset values rose steeply in the first half as it kicked off a review of its longer term investment plans that could see it return money to investors via share buybacks. SVG, seen by many as a listed proxy for buyout firm Permira, which accounts for more than 80 [...]
Construction sector growth in surprise jump August 12, 2011 The UK construction industry grew a faster-than-expected 2.3 per cent in the second quarter of the year compared with the previous three months, figures show. The new data from the Office for National Statistics (ONS) marks a rebound from a slump seen by the industry over the previous six months. It is also much faster [...]
Short selling ban fails to halt volatility in markets August 12, 2011 European stocks failed to rally significantly this morning after a ban on short selling in four pivotal Eurozone nations failed to stem the tide of losses seen over the week. The assault on short sellers, triggered by a collapse in confidence in banks including Societe Generale, had been hastily introduced in an attempt to stop [...]
FSA: No UK short selling ban August 12, 2011 The Financial Services Authority FSA reiterated that there were no plans to introduce a short-selling ban in the UK, although it would continue to keep a close eye on trading activities. “We have an existing short selling disclosure regime around financial stocks in place and we continue to monitor the activity in our markets accordingly. [...]
NOTW closure helps lift Trinity Mirror August 12, 2011 Trinity Mirror said it did not yet know the impact of an editorial review implemented after a phone-hacking scandal at the News of the World but said its sales had benefited from the closure of the rival tabloid. The newspaper publisher said group circulation revenues were up two per cent in July with national titles [...]
French economic growth grinds to a halt – Greek GDP plunges August 12, 2011 French economic growth ground to a halt in the second quarter of 2011, raising pressure on President Nicolas Sarkozy to cut spending and abolish tax breaks ahead of elections as he tries to convince nervous financial markets that he will deliver on debt reduction targets. France’s statistics office said economic output, as measured by gross [...]
£2.5 trillion wiped off world stocks August 11, 2011 An estimated $4 trillion (£2.47 trillion) has been wiped off the value of world stocks this month on concerns the euro zone debt crisis is spreading to Italy and Spain and hurting Europe’s banking system, and the global economy is falling into recession. The sum wiped off the MSCI All-Country World Index – about one [...]
Cameron: Police tactics were wrong August 11, 2011 Prime Minister David Cameron has promised to crack down on street gangs as a national priority and said rioters behind the country’s worst violence in decades would be hunted and punished. “The fightback has well and truly begun,” he told an emergency session of parliament, acknowledging that police numbers and tactics had been inadequate at [...]
