House prices supported by rising activity November 7, 2011 HIGHER activity in the property market has propped up house prices, according to two leading surveys of the industry. Yet while the market has perked up, activity remains slow by historical standards, with prices largely remaining flat over recent months. The Halifax reported a surprise 1.8 per cent spike in house prices last month compared [...]
Taskforces to lead tax crackdown November 7, 2011 TASKFORCES are being set up to target different types of tax evasion in different regions, HM Revenue and Customs (HMRC) revealed yesterday. Businesses are the particular focus in London and the south east, with those failing to submit statutory returns for corporation tax, income self assessment, PAYE and VAT seen as core targets by the [...]
Growth in exports slows as orders point to a tough end of the year November 7, 2011 THE GROWTH in exports from UK-based companies has slowed, a business survey revealed this morning, with exporters facing a tough end to the year. Exporters received fewer orders than sales in the third quarter of the year, suggesting a further slowing of business in the final three months of 2011. “The UK’s exporters are still [...]
Inflation eases in Switzerland November 7, 2011 Swiss annual consumer prices fell for the first time in two years in October, arguably boosting the case for policymakers to cap the strong franc at a lower level. Prices fell 0.1 per cent year-on-year having risen 0.5 per cent a month ago, the Federal Statistics Office said yesterday. Core prices – stripping out volatile [...]
Small firms call for more credit November 7, 2011 The government should channel its credit easing plans towards helping small businesses, an industry body said yesterday. “Credit easing must be bold and look to boost competition by stimulating innovative models such as peer-to-peer lending and smaller internet banks,” said John Walker of the Federation of Small Businesses (FSB). Over a third (34 per cent) [...]
Consumer credit spikes in US November 7, 2011 Americans boosted their levels of borrowing in September, data revealed last night, while separate figures suggested that the US economy remains too weak to combat its relatively high level of unemployment. The Conference Board index edged up to 101.92 from 101.20 in September yet the group’s statement said: “We think that the economy is simply not [...]
CITY MOVES | WHO’S SWITCHING JOBS November 7, 2011 RFC Group John Harrison, who retired as a managing director of Numis Securities last month, has been named as chairman of Ambrian Partners, subject to completion of RFC’s acquisition of 100 per cent of Ambrian’s share capital. Harrison joined Numis in 1994 following a career at Lloyd’s of London. Since 2003, he has led the [...]
BEST OF THE BROKERS November 7, 2011 BETFAIR Numis rates the online betting group as a “buy” with a target price of 1,150p, ahead of first-half result to be published on 14 December. The broker forecasts sports revenue for the second quarter of £66m, up from £60m in the first quarter. It expects first-half numbers to show healthy growth in Ebitda to [...]
FTSE ends in the red based on soaring Italian debt costs November 7, 2011 BRITAIN’S blue-chip share index fell yesterday as political turmoil in Italy sparked fears the Eurozone’s largest debtor may fail to deliver much-needed economic reforms. The FTSE 100 ended down 16.34 points, or 0.3 per cent, to 5,510.82, with banks weighing the most as investors positioned for months of continued uncertainty on the euro front and [...]
Wall Street edges up in choppy day November 7, 2011 US stocks closed a volatile, lightly traded session slightly higher yesterday, with sentiment continuing to shift with the latest headline from Europe. Wall Street spent most of the session lower before rebounding after Juergen Stark, a member of the European Central Bank’s Executive Board, said the region’s debt crisis might be overcome in “one or [...]
