Yawning UK trade gap adds to threat of fourth quarter decline December 6, 2012 THE UK trade balance fell further into the red in October, having narrowed in September. The total deficit with the rest of the world reached £3.6bn, up from £2.5bn, according to data from the Office for National Statistics out yesterday. October’s increased gap came from a £534m jump in goods imports, which together with a £258m [...]
Hope for America’s jobs market as dole queues shorten to levels seen before superstorm Sandy December 6, 2012 THE NUMBER of Americans filing new claims for unemployment benefits has fallen back to levels seen prior to October’s superstorm Sandy. Data for last week’s new jobless claims, released yesterday, suggests a return to modest job growth after a storm-related set-back to the employment sector. Initial claims for state unemployment benefits dropped 25,000 to a seasonally [...]
Brazil hints at frozen rates December 6, 2012 Brazil’s central bank said keeping interest rates unchanged at a record low is the best strategy for monetary policy, minutes of the bank’s last policy meeting revealed yesterday, suggesting policymakers had no plans for more reductions in borrowing costs anytime soon. The Bank left its Selic benchmark interest rate at 7.25 per cent in November.
Swiss unemployment edges up December 6, 2012 The Swiss unemployment rate rose to a non-seasonally adjusted 3.1 per cent in November from 2.9 per cent in the previous month, official data showed yesterday. Meanwhile, Swiss consumer prices fell 0.4 per cent from a year ago compared to a drop of 0.2 per cent in October, and were 0.3 per cent lower compared [...]
RSM Tenon parts ways with PwC December 6, 2012 RSM Tenon has officially ditched PwC as its auditor, after nearly two thirds of shareholders voted down the firm’s reappointment. RSM Tenon has already started looking for a new auditor, after it discovered a black hole in its books in January that sparked a profit warning and a change in management. The accountancy regulator is [...]
Who’s switching jobs December 6, 2012 Robin Simon The law firm has appointed Darren Hannison partner and head of its reinsurance practice. He joins from Plexus Law. Hannison has over 19 years’ experience in the insurance and reinsurance sector, and has also served as an assistant general counsel at AIG in New York. Deloitte Angus Wildblood has been appointed analytics partner [...]
Best of the Brokers December 6, 2012 SCHRODERS Canaccord reiterated its “sell” rating and 1,320p target for the asset manager. The broker struggles to justify the share price, with current trading at 16 times 2012 earnings, and it expects return on equity to fall. SAGE Charles Stanley maintains its “accumulate” rating for the software company, after better-than expected results. However, the growth [...]
FTSE strikes two month high amid weak trading yet lags euro stocks December 6, 2012 BRITAIN’S top share index hit a two-month high yesterday, fuelled by risk-sensitive stocks, but lagged European peers as wary investors met resistance around previous year highs. At the close, the FTSE 100 was up 9.34 points at 5,901.42. The index’s 0.2 per cent rise lagged the German DAX and the pan-European FTSEurofirst 300, up 1.1 [...]
Wall St ticks up as Apple stock climbs higher December 6, 2012 US stocks closed modestly higher yesterday, a day ahead of the key monthly jobs report, as a rebound in shares of Apple helped boost technology shares. Traders were reluctant to bet heavily a day before the Friday release of the November employment report. Just 5.62bn shares changed hands on US exchanges. Investors are also keeping [...]
Shale gas is a good idea – but it is too soon to count on it to save us December 6, 2012 THE government’s gas strategy document, published alongside the Autumn Statement this week, rightly said that gas should play “a major role in our electricity mix” for decades to come. George Osborne was also right to focus on how to make private investment in new gas-fired power stations work without subsidies. But uncertainty is still a [...]
