TUC: Low paid are worst hurt by recession and cuts October 9, 2011 WORKERS in the lowest-income sectors are among the worst hit by rising unemployment over the last three years, according to research out today from the Trades Union Congress (TUC). Forty-one per cent of job losses came in sales and elementary service and admin roles – categories which make up less than 20 per cent of [...]
CITY MOVES | WHO’S SWITCHING JOBS October 9, 2011 Virgin Money The banking division of the Virgin Group has appointed Sir David Clementi to the Virgin Money board as chairman to succeed the late Sir Brian Pitman. Clementi was chairman of Prudential from 2002 to 2008 and deputy governor and a member of the Monetary Policy Committee at the Bank of England from 1997 [...]
BEST OF THE BROKERS October 9, 2011 SUPERGROUP Singer CM Equity Research slashed its price on SuperGroup after a difficult week. It cut the price 35 per cent to 970p after the clothing firm reported extra warehousing costs and a sales shortfall. Singer retained the “buy” rating but said: “When a business is expanding at such a rapid rate one would expect [...]
Markets focused on support for European banks October 9, 2011 DESPITE a positive surprise on the all-important non-farm payrolls number from the US on Friday, beating the vast majority of analysts’ estimates, American stock indices still closed with a negative bias on the day. The gains in hiring workers were still not enough to offset the unemployment rate, which remained high at 9.1 per cent. [...]
WALL STREET WEEK AHEAD October 9, 2011 INVESTORS tiring of the Eurozone’s debt crisis dragging the market all over the place are hoping to focus on something else this week – earnings. But will third-quarter results be enough to drive the S&P 500 higher? Or will Europe’s woes get in the way? The unofficial start of earnings season begins tomorrow, when Dow [...]
All three parties are failing UK business: Digby Jones lays out his policy challenge October 9, 2011 NOW that all the nonsense of party conference season is over, as Westminster heads back to work and the rest of us continue to try and earn an honest living, what did we hear from the mouths of our political masters? Did any of the three main parties show the UK business community that they [...]
If you can trust yourself when all men doubt you… October 9, 2011 WHAT constitutes a tough call? It’s got nothing to do with the scale of a decision – it can be easy enough to decide to buy or sell a company. Nor has it much to do with immediate circumstances – tough calls can crop up in good times as well as bad. No. In my [...]
A European Tobin tax won’t just hit London October 9, 2011 FOLLOWING the events of the past few months, there has never been a more important time for London’s financial services industry to build close links with Brussels. That is why I will be travelling to the City of London Brussels Office’s annual reception tomorrow and why, once there, I – along with the executive director [...]
RAPID RESPONSES October 9, 2011 Missing numbers I am sure the MPC appreciates the theory of the velocity of money and the effect increasing the money supply will have. If I can, then I am sure Mervyn King does. Which begs the question, why did they launch more QE, even sooner than expected? I work in the property sector and [...]
Stress tests failed to test banks October 9, 2011 THE downgrade of a dozen UK banks and eight Portuguese banks on Friday morning ended another tumultuous week in the European banking sector. The Greek farce has dragged on so long that it has fallen from the headlines, despite its potential to bring Europe crashing down around our ears. Instead, focus has shifted to the [...]
