City A.M. shadow MPC votes 7-2 against more QE February 6, 2013 ALLISTER HEATH | CITY A.M. “No change. There is no longer any lack of money supply, and the services sector purchasing managers’ index business survey suggests we may just about escape a triple-dip, if we are lucky. The real problem in the UK is that ultra-loose monetary policy is keeping zombie firms alive, slowing the [...]
Car sales rev up as registrations rise for the 11th month in a row February 6, 2013 THE UK’S resurgent car-buying market shows no sign of slipping down a gear in 2013, having recorded its 11th straight month of growth in January. New car registrations jumped 11.5 per cent last month compared to the same time a year earlier, with 143,643 vehicles registered. The Society of Motor Manufacturers and Traders (SMMT), which [...]
Euro outlook more hopeful February 6, 2013 THE ECONOMIC climate brightened across the Eurozone in the first quarter of 2013, according to data out yesterday. German think tank Ifo’s economic climate indicator for the bloc rocketed from 81.7 to 95.1, it said, reversing most of the losses seen since the second quarter of last year, when it stood at 100.3. But the [...]
QE expansion not expected February 6, 2013 THE rate-setting monetary policy committee (MPC) will sit on its hands today, according to analysts. Most analysts thought the outcome of February’s meeting would see the committee adopt a wait and see approach. “It looks highly unlikely that the quarter-on-quarter drop in GDP in the fourth quarter will prompt the Bank of England into further [...]
Germany and France clash over the threat posed by strong euro February 6, 2013 GERMANY said yesterday the strong euro was not a concern and signalled opposition to a French proposal for a mid-term target rate, exposing policy divisions over mainland Europe’s currency. The comments from Berlin, where most politicians are firmly opposed to currency intervention, precede talks later in the day between Chancellor Angela Merkel and French President [...]
Main market pension deficits explode despite bull markets February 6, 2013 THE deficits of FTSE 350 pension schemes expanded by £13bn more during January, despite soaring stock markets. Pension deficits totalled £75bn at the end of last month, according to data put out by Mercer yesterday, with assets adding up to only 88 per cent of liabilities. This was up from £62bn at the end of [...]
US mortgage requests jump February 6, 2013 US MORTGAGE applications climbed in the last week of January, despite increasing interest rates, data showed yesterday. Seasonally-adjusted loan application volumes increased 3.4 per cent in the week ending 1 February, the Mortgage Bankers Association said. Unadjusted mortgage applications were some 16 per cent higher that week than during the same seven days a year [...]
England locate rhythm in Brazil win February 6, 2013 INTERNATIONAL ENGLAND 2 vs BRAZIL 1 MANAGER Roy Hodgson heaped praise on Jack Wilshere after the midfielder marked his first international start for 20 months with a man-of-the-match performance in last night’s friendly victory over Brazil. Wayne Rooney’s 33rd England goal and what threatens to be Frank Lampard’s last, either side of Fred’s equaliser, earned [...]
Football broker Harris lining up rival bid for stricken Portsmouth February 6, 2013 CITY financier and leading football deal-broker Keith Harris last night emerged as the face of a possible rival bid for embattled League One club Portsmouth. The south coast side, who are £60m in debt, had been expected to be sold to the Portsmouth Supporters’ Trust (PST), who were appointed preferred bidders by administrators PKF in [...]
Hamilton shaken by nightmare first test February 6, 2013 BRITAIN’S Lewis Hamilton admitted suffering a “pretty heavy” impact after he crashed just 15 laps into his first testing session with his new Formula One team Mercedes yesterday in Spain. A braking failure left Hamilton unable to prevent the car hurtling headlong across the gravel and into a tyre wall, and brought to a premature [...]
