Mood across the pond lifted by upwardly revised growth data December 20, 2012 THE US economy grew faster than previously estimated in the third quarter of the year, official data showed yesterday. America’s GDP expanded at a 3.1 per cent annual rate in the three months to September, the Commerce Department said, a step up from the 2.7 per cent pace it reported last month. Exports and government [...]
Eurozone consumer confidence ends the year in the doldrums December 20, 2012 CONSUMER confidence in the Eurozone improved slightly in the final month of 2012, a prominent survey suggested yesterday, but remains considerably below its long run average. And a think tank focusing on European politics predicted a tough year ahead. “Next year is not only likely to see domestic politics across the EU clash with the [...]
London house prices up £28k through 2012 December 20, 2012 HOUSE prices across the UK crept up through 2012, according to data out yesterday from property website Zoopla, with London leaping further ahead. Mortgage lending increased again in November, the Council of Mortgage Lenders (CML) revealed, with the first signs that the Funding for Lending Scheme (FLS) may be having an effect. Home purchase loans [...]
Network Rail reveals that just seven in ten trains are on time December 20, 2012 FEWER than seven in ten trains were on time this year, according to Network Rail data out yesterday. New statistics show for the first time how many rail services make it to their stops early or within one minute of the operator’s schedule. Just 69.2 per cent of trains were this punctual in the year [...]
Gloomy start to Christmas as shoppers look out for bargains December 20, 2012 RETAIL sales are barely kept pace with inflation last month, according to official figures out yesterday, with squeezed consumers waiting for discounts rather than splashing out for Christmas. The quantity of goods bought in November rose 0.9 per cent on the year, while the amount spent increased 1.5 per cent, showing a small rise, the [...]
Japan’s new government gets cash boost from central bank December 20, 2012 THE BANK of Japan delivered its third shot of monetary stimulus in four months yesterday, in a prelude to more aggressive action next year as it faces intensifying pressure from the country’s next leader for bolder action to beat deflation. It also signalled setting a higher inflation target at its next meeting in January, when [...]
Mothercare pay irks investors December 20, 2012 Mothercare endured a minor shareholder mutiny yesterday as 12.8 per cent of investors voted against the retailer’s plans to set up a long-term incentive scheme for its new chief executive. On top of a basic salary of £500,000 new boss Simon Calver could earn up to £6.3m from long-term incentives. He must break even in [...]
Spain waves through 2013 budget December 20, 2012 Spain’s parliament formally approved yesterday the budget for 2013, which aims at reducing the country’s public deficit to 4.5 per cent of gross domestic product from 6.3 per cent this year. Ministry budgets will be slashed by 8.9 per cent for next year and public sector wages frozen for a third year as Prime Minister [...]
Carnival sees profits sink deeper December 20, 2012 Carnival yesterday reported a sharply lower profit as revenue continued to be hit by last January’s deadly capsizing of the Costa Concordia cruise ship, and the leisure operator said bookings for 2013 were still lagging last year. Shares dived around five per cent as the market opened. The company reported net income of $93m (£56.7m) [...]
City Moves | Who’s switching jobs December 20, 2012 Squire Sanders The law firm has announced two appointments to its financial services practice group. Philippa Chadwick joins as a partner from Berwin Leighton Paisner, where she led its project finance team. Paula Laird joins as a banking and finance partner from Wragge & Co, where she was head of banking. Laird has also held [...]
