Property prices drop as market flooded August 16, 2010 UK property asking prices dropped for the second month in a row as the market was hit by over-supply, according to property website Rightmove. The survey also found that the market had also been subdued in the summer period. Sellers reduced prices by 1.7 per cent during the month to 7 August, leaving the average [...]
Michael Page sees profit rise as job market picks-up August 16, 2010 WHITE collar recruitement specialist Michael Page said first-half profit climbed 42 per cent compared with last year as job flow in almost all markets, especially outside Britain, improved. Michael Page, which finds jobs for people in financial, accounting and legal services, said pre-tax profit was up to £61.4m in the six months to 30 June [...]
Chinese consortium to bid for AIA stake August 16, 2010 A consortium of leading Chinese companies including Industrial and Commercial Bank of China China Life Insurance, plans to bid for a 30 per cent stake in American International Group’s Asian life insurance business, AIA, the 21st Century Business Herald has reported. That would mean an investment of about $10bn (£6bn) based on AIA’s estimated $30bn [...]
Japan’s economic growth falters August 16, 2010 JAPAN’S economic growth slowed to a crawl in the second quarter and analysts see more weakness ahead as the country grapples with deflation and a rise in the yen that threatens an export-driven recovery. Slowing growth in main export destinations such as the United States and China clouds the outlook, while policymakers are trying hard [...]
Vedanta in £8bn deal for stake in Cairn Energy August 13, 2010 Vedanta Resources will buy a 51 per cent controlling stake in Cairn India for $8bn to $8.5bn (£5.13 bn to £5.45bn), Reuters has reported. Vedanta Resources is in talks with Cairn Energy which has a 62.4 per cent stake in Cairn India, to buy a stake in the unit, both companies confirmed on Thursday without [...]
Britain’s GDP growth in line for hike August 13, 2010 BRITAIN’S second-quarter GDP growth could be revised up by 0.1 percentage points to 1.2 per cent after construction output expanded even faster than expected, official data showed on Friday. Revised construction output of 8.6 per cent – versus an initial estimate of 6.6 per cent – would add 0.1 percentage points to Q2’s 1.1 per [...]
Eurozone GDP grows by 1pc August 13, 2010 EUROZONE gross domestic product (GDP) grew at its fastest pace in more than three years in the second quarter, boosted by a strong performance by Germany and France, but concerns remain that the rebound could falter. European Union statistics agency Eurostat said GDP in the 16-nation currency zone expanded by one per cent in the [...]
Aviva rebuffs £5bn bid from RSA August 13, 2010 INSURER RSA has approached rival Aviva about buying its general insurance operations in the UK and elsewhere for £5bn, Sky News has reported. Aviva declined to comment, while RSA was not immediately available. The approach was immediately rejected by the Aviva board, and there are no ongoing discussions between the companies, accoring to the report. [...]
John Lewis sales accelerating August 13, 2010 RETAILER John Lewis said year-on-year department store sales accelerated last week, shrugging off fears that prospective tax rises and employment uncertainty would hit consumer spending. The employee-owned firm, traditionally seen as a bellwether of the UK retail sector but which has outperformed competitors for over a year, said sales at its 28 department stores and [...]
German economy grows by “record” 2.2pc August 13, 2010 The German economy grew by 2.2 per cent in the three months to the end of June – its fastest quarterly growth in 20 years, official figures show Strong exports, helped by a weaker euro, fuelled the rise. The national statistics office, Destatis, said: “”Such quarter-on-quarter growth has never been recorded before in reunified Germany,”
