Gloomy outlook for UK firms October 10, 2011 FEARS of economic stagnation in the UK were heightened today, after a leading survey of businesses reported an increasingly gloomy outlook. The third quarter results “point to a deterioration in the economic situation, with concerning signs of stagnation in the domestic economy”, the British Chambers of Commerce (BCC) said. And the planned “rebalancing” of the [...]
Miles: QE2 could relieve banks’ funding problems October 10, 2011 THE CHANCE that inflation will fall below the two per cent target in the medium term is rising, monetary policy committee (MPC) member David Miles told the Royal Economics Society last night. Since the Bank of England’s inflation report was published in August, “news on the economy has been overwhelmingly negative”, Miles said. He fears [...]
Economic worries prevent houses coming to market October 10, 2011 ECONOMIC concerns are causing house-owners to hold back from placing their properties on the market, a new survey reports today. Supply to the housing market fell last month, the Royal Institution of Chartered Surveyors (RICS) said. Five per cent more surveyors reported that supply of property fell rather than rose, in September. Yet despite a [...]
Eurozone investor morale sinks October 10, 2011 Investor confidence in the Eurozone has dipped to more than a two-year low this month, according to the latest Sentix index, released yesterday. The Germany-based Sentix said that the index sank to -18.5 from -15.4 last month. Some economists, however, had expected an even steeper drop.
Downturn expected in the OECD October 10, 2011 Wealthy states remain on course for an economic downturn, the Organisation for Co-operation and Economic Development said yesterday. The OECD’s leading indicators, which attempt to forecast changes in the economy six months ahead, decline for the fifth straight month in August. The indicator fell 0.5 points for the OECD as a whole. The UK’s indicator [...]
Prices pressures rise in Norway October 10, 2011 Norway’s energy-adjusted consumer prices rose 1.3 per cent year-on-year in September, up from 0.8 per cent in August, the central bank said yesterday. August was originally reported up 0.9 per cent year-on-year. Core inflation also rebounded, rising by 1.2 per cent year on year from 0.8 per cent in August, official data showed.
UK set to miss poverty targets October 10, 2011 Pegging state benefits to a lower measure of inflation will contribute to a rise in poverty, the Institute for Fiscal Studies (IFS) is expected to argue today. The IFS forecasts absolute child poverty to reach 23 per cent by 2020-21, drastically missing the state’s “supposedly legally binding target” of five per cent. The UK’s dire [...]
CITY MOVES | WHO’S SWITCHING JOBS October 10, 2011 Man Group Man Group, Europe’s largest hedge-fund, has appointed Nina Shapiro as non-executive director. Shapiro previously held senior roles within the World Bank and was Vice President, Finance and Treasurer of the International Finance Corporate from 2000 to 2011. After joining the World Bank in 1978, Shapiro held posts including director of project finance and also [...]
BEST OF THE BROKERS October 10, 2011 MITCHELLS & BUTLERS Numis rates the pub group “hold” with a 250p target price due to M&B’s uncertain future with just a week to go before Joe Lewis’ investment vehicle Piedmont must submit a formal offer. Management has rejected his 230p per share bid, but it could be accepted if major investors Elpida and Smoothfield [...]
FTSE hits a five-week high on optimism over debt talks October 10, 2011 BANK and commodity stocks hoisted Britain’s top shares to a five-week closing high yesterday, on mounting optimism over the prospects for a solution to Europe’s debt crisis after a weekend meeting of French and German leaders. The FTSE 100 ended up 95.60 points, or 1.8 per cent, at 5,399.00, after Nicolas Sarkozy and Angela Merkel [...]
