Prime London house prices up March 20, 2012 TOP CENTRAL London property prices rose 1.1 per cent in March, estate agent Knight Frank revealed today. Prices rose 11.3 per cent over the past 12 months, as demand continues to outstrip supply. “Our research highlights the status of London property as a unique global asset class, which has gained the confidence of investors looking [...]
Fed says US will grow as crisis ends March 20, 2012 AMERICA faces “important challenges” in the short run but still has “very good” longer term prospects, the head of the Federal Reserve said yesterday. Ben Bernanke was speaking before a lecture at the George Washington business school, in which he criticised the gold standard and said that the Fed had failed to prevent deflation during [...]
Factory boom eases fears of deeper slump March 20, 2012 STRONG manufacturing figures for the whole first quarter have bolstered hopes that the UK will avoid a second recession. Output expectations grew in each of the three months, the Confederation of British Industry’s industrial trends survey showed yesterday, and the proportion saying order levels were “below normal” fell over the quarter. A net balance of [...]
CITY VIEWS: HAS THE ECONOMY TURNED A CORNER FOR THE BETTER?* March 20, 2012 TONY HOPSON | BUZZACOTT “Property prices are back up in the US and UK, and stock markets have stabilised – even with all the uncertainty surrounding Greece. But it’s difficult to say, living in the micro-climate of London, which is doing relatively well.” ELLIOT BISHTON | MHP “It’s in a better position today than it [...]
Greek bailout begins to pay central banks March 20, 2012 GREECE received the first tranche of its second bailout yesterday, as the German cabinet prepared to approve the permanent European Stability Mechanism (ESM) rescue system. The EU and International Monetary Fund (IMF) paid Greece the first €7.5bn (£6.26bn) of its latest bailout, with the bulk of the payment going to repay bonds held by the [...]
IMF puts pressure on Swiss currency March 20, 2012 SWITZERLAND should allow its currency to trade freely once deflationary pressures ease and growth picks up, the IMF has said, though it did not say when the cap should be lifted. As part of its annual evaluation of the Swiss economy, the results of which were published yesterday, the International Monetary Fund also recommended that [...]
TECHNOCRAT PM MARIO MONTI TAKES ON ITALY’S TRADE UNIONS March 20, 2012 Prime Minister Mario Monti began a final push yesterday to forge a deal with trade unions on labour reform that is a crucial test of his ability to revive Italy’s chronically uncompetitive economy. A deal on labour reforms would bolster confidence in Monti’s ability to push through the kind of far-reaching changes that are needed [...]
Low rates for Spanish debt March 20, 2012 THE OUTLOOK for Spain’s public finances received a boost yesterday as it sold €5.04bn in bills at the lowest borrowing rates in nearly two years. Yields on 12-month notes declined to just 1.418 per cent, raising the majority of the funds. On 18-month bills, the yield came in at just 1.711 per cent. Spanish authorities [...]
German house building to rise March 20, 2012 GERMANY’S construction boom is “set to continue”, a leading economic think tank said yesterday. Investors in Europe’s largest economy are keeping their money at home rather than risking it elsewhere in the Eurozone, the Munich-based IFO Institute said. “Growth in housing construction is expected to increase by an annual average of 0.9 per cent through [...]
CITY MOVES | WHO’S SWITCHING JOBS March 20, 2012 JAG Shaw The boutique corporate law firm has announced the hiring of Susanna Stanfield. JAG Shaw focuses on providing advice on venture capital and private equity matters, with particular expertise in the life sciences and technology sectors. Stanfield, a corporate lawyer who has spent over ten years in the venture capital practice of Taylor Wessing, [...]
