Pig out on the rebound December 5, 2011 WHEN six central banks staged a coordinated intervention last week to lower the cost of dollar swap rates, they gave the European markets a breath of life on the hope that this would sow greater liquidity into the interbank market. The injection of dollar liquidity into the market sent investors trotting out of dollar positions [...]
A CHANGE OF FORTUNES FOR RISK ASSETS December 5, 2011 WHAT a turnaround last week. We saw an extraordinary rally in equity markets which saw them recoup the losses from the sell-off that had persisted through much of November. Personally, I believed that the major stock indices were on the point of a major break to the downside which would only be averted by a [...]
Prepare for party season with a choice treatment December 5, 2011 Dunhill: Instant Eye Repair This gem of a spa is located at the luxury clothier’s emporium at Bourdon House in Mayfair. There are a range of treatments for men (and lately, women too) but for party season we think this one will pack a great punch for the busy Mayfair-ite – after all, fresh and [...]
Busting winter work-out myths December 5, 2011 FITNESS & DIET EXPERT WORRIED it’s not safe to spin with a sniffle? Thinking of packing the SPF away with the bikinis? I’ve debunked the top winter exercise myths below: It’s best to stick to indoor workouts in the winter. False. It’s fine – good even – to exercise outside, regardless of the temperature. A [...]
EPISODE 39 – and for a moment, 40 is perfect December 5, 2011 MY mother called at 7.49am, reminding me of the details of forty years ago and the agonies I’d caused her. I think she meant just at that moment. But I could be wrong. When the subject of my 40th first arose we were three. I feigned indifference but enticing beach holidays, a football match against [...]
Shops, sun and spice: Marrakech is the perfect winter weekend getaway December 5, 2011 HAVING spent a bit of time in Morocco before, I was bracing myself. Six years ago, on a lone voyage on a rusty old ship from Algeciras in Spain to Tangier, I was accosted by three tipsy artifact sellers on board, before getting my camera pinched on arrival at the dusty old port. Further into [...]
FSA fines HSBC £10.5m for mis-selling to elderly December 5, 2011 The Financial Services Authority (FSA) regulator fined HSBC £10.5m for mis-selling products to elderly customers. The FSA said in a statement that HSBC’s NHFA subsidiary had given “inappropriate investment advice” to elderly customers and added that the British bank had estimated it would have to pay a further £29.3m in compensation to them. The FSA [...]
Service sector picks up December 5, 2011 Britain’s dominant services sector picked up slightly last month, defying forecasts it would stagnate, although employers shed jobs at the fastest pace in more than a year, a survey showed. The Markit/CIPS Purchasing Managers’ Index (PMI) for the service sector rose to 52.1 in November from 51.3 in October, beating expectations for a dip to [...]
Central bank independence won’t last December 5, 2011 SLOWLY but surely, the case for central bank independence is being undone. It may not look like it, with central bankers being afforded even greater powers than before the recession, but we are probably at the high watermark of their influence and autonomy. At some stage, as it becomes clear that monetary policy has turned [...]
Manufacturers warn of stagnation December 5, 2011 British manufacturers report that output is growing at its weakest pace in nearly two years and expect it to stagnate early next year, held back by worries about the euro zone and weak demand at home, a survey showed on Monday. The EEF, the main trade body for UK manufacturers, cuts its 2012 growth forecast [...]
