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 [...]
Banks lead US stock hike October 10, 2011 US stocks jumped per cent yesterday, extending gains into a second week as a pledge by German and French leaders boosted hopes that the Eurozone debt crisis may be resolved. Financials led the rally. The KBW bank index jumped 5.3 per cent, with JPMorgan Chase & Co up 5.2 per cent and Bank of America [...]
Tuilagi ferry leap was just a bit of banter, claims Youngs October 10, 2011 ENGLAND scrum-half Ben Youngs has defended under-fire team-mate Manu Tuilagi by laughing off his infamous leap from an Auckland ferry boat as nothing more than “a bit of banter”. Samoan-born centre Tuilagi was fined £3,000 and warned about his future conduct by embattled England manager Martin Johnson for the incident which saw the 20-year-old repirmanded [...]
Fowler’s emergence good for the game October 10, 2011 IT WAS a weekend of maiden victories with two players, whose career trajectories could not be more contrasting, enjoying landmark successes. I was delighted for Englishman Lee Slattery, who clung on to secure the Madrid Masters. It’s sometimes easy to forget there are guys out there battling for their livelihoods and clinging to their tour [...]
Man United’s latest signing: Club spend £8m on snapping up land October 10, 2011 IT IS not quite the glamour signing that supporters crave, but Manchester United have dipped into their coffers and splashed the cash – on acquiring land around Old Trafford. The club have paid £8.2m for a one-acre site directly opposite the stadium, an estate of seven industrial units and a 177,000 sq ft warehouse. All [...]
