Europe slowing as US grows March 7, 2012 THE EUROZONE continues to look weak as industrial data published yesterday showed the economy in decline, while the US kept growing with positive jobs figures. German industrial orders plummeted in January, falling 2.7 per cent on the month as foreign orders collapsed. Export orders fell 5.5 per cent, led by an 8.6 per cent fall [...]
Think-tank: Scrap green belt to boost GDP growth March 7, 2012 RESTRICTIVE planning laws are holding back economic growth, hurting the poor and pushing down the quality of houses, a new report claims. The Adam Smith Institute (ASI) has called for a radical shake up of planning rules that would see the green belt scrapped, devolution of planning powers to local authorities, and the privatisation of [...]
Fidelity Investments sees jump in 2011 profit despite suffering fund outflows March 7, 2012 FIDELITY Investments, hit by another year of massive outflows from its stock mutual funds, said operating profit in 2011 rose 13 per cent to $3.3bn due to careful expense management. Fidelity is one of the world’s largest asset managers. Total assets under management were $1.52 trillion in 20l1, down four per cent from $1.59 trillion [...]
CITY A.M. | SHADOW MPC VOTES TO HOLD RATES March 7, 2012 ALLISTER HEATH | CITY A.M. “Markets are already providing a degree of tightening, with some banks putting up mortgage rates. This is good news and means the MPC should stay put this month. There are signs the economy is recovering.” SIMON WARD | HENDERSON “Stop QE but offer ECB-style medium-term funding support to banks – [...]
CITY MOVES | WHO’S SWITCHING JOBS March 7, 2012 INREV The non-profit association yesterday announced Patrick Kanters as chairman at its AGM. Kanters has previous experience as a global investor, formerly working at ING Real Estate. Kanters is also a member of the Executive Board of EPRA and sits on the board of investing firm Steen & Strom. In his new position, he will [...]
BEST OF THE BROKERS March 7, 2012 KINGFISHER Morgan Stanley has upgraded the retailer from “equal-weight” to “overweight” and has lifted its target price from 285p to 325p. The broker is increasingly optimistic about the firm’s sourcing plans and the outlook for French consumer spending. Morgan Stanley has trimmed its earnings forecasts for 2012-13 due to currency changes, but expects to see [...]
Miners, banks and positive US jobs data lift blue chip index March 7, 2012 R ECENTLY beaten down mining stocks and banks rallied yesterday to help haul Britain’s leading shares index higher, as above-forecast US private payrolls data provided a positive signal ahead of Friday’s key US February jobs report. The ADP National Employment Report said the US private sector added 216,000 jobs last month, topping economists’ expectations for [...]
US stocks reverse three day decline March 7, 2012 U S stocks broke a three-day losing streak yesterday, recovering some recent losses after a report showed the US private sector added more jobs than expected last month. After suffering their worst decline in three months on Tuesday, stocks received an early lift after payroll processor ADP said US private employers picked up the pace [...]
Give yourself an edge in a tight job market March 7, 2012 NEW JOBS in banking and finance are not easy to find. Last week, Morgan McKinley released figures showing that the number of newly-open positions fell by 47 per cent in the year to February 2012. For the past four years, large numbers of candidates have pursued a persistently small number of jobs. The market for [...]
JOBS of the WEEK March 7, 2012 Senior commercial analyst London £45k-£55k, plus excellent benefits A market-leading leisure firm seeks to fill a core role in analysis of profitability across the business. The ideal applicant is a qualified member of an accounting body. www.cityamcareers.com/job/5636 VP New Business Development Central London £90k-£110k, plus bonus A leading investor services bank is seeking a candidate [...]
