Rent rises start slowing but still exceed incomes November 17, 2011 RENTS hit a new high in October, according to LSL Property Services’ monthly buy-to-let index, published today, though the rate of increase fell to its lowest since February. The average rent in England and Wales rose by 0.2 per cent in October to £720 per month, the index showed. The increase compares with a jump [...]
Joblessness is down again on USA recovery November 17, 2011 THE NUMBER of new unemployment claimants in the US slid last week, Department of Labor figures showed yesterday. Weekly initial jobless claims slipped by 5,000 to 388,000 in the week ending 12 November, taking claims to their lowest since April. The figure stood 53,000 higher in the same week last year. The insured unemployment rate [...]
Six new Tories in tax cut demand November 17, 2011 Cutting corporation and capital gains tax, promoting trade between the UK and India, and encouraging retail investors to put cash into infrastructure are among the economy-boosting plans proposed today by six Conservative MPs from parliament’s 2010 intake. “Bold cuts in business taxes” will stimulate growth more effectively than tinkering with the system’s edges, said Karen [...]
Business leaders reject HS2 trains November 17, 2011 The government should improve existing inter-city and commuter rail services instead of spending billions on the new high speed line (HS2), according to a survey out today from the Institute of Directors (IoD). The study found that 83 per cent of directors see investment in congested roads as important to their business, and 83 per [...]
BEST OF THE BROKERS November 17, 2011 INTERTEK Goldman Sachs rates Intertek a “buy” with a £29.44 target price after its latest interim statement suggested it can sustain strong organic revenue growth despite the uncertain macro environment, and see more gains in its underlying margin. Growth in the next year may be enhanced by further bolt-on acquisitions, and it trades at a [...]
FTSE falls as debt turmoil intensifies November 17, 2011 BRITAIN’S top share index retreated yesterday, with nervous investors ditching riskier assets such as banks and retailers, as corporates showed signs of stress in the face of the intensifying debt contagion in Europe. London’s blue chip index shed 85.88 points, or 1.6 per cent to 5,423.14, with the FTSE volatility index, up 10.2 per cent [...]
Choppy day for Wall St November 17, 2011 TRIGGER-HAPPY investors dumped US stocks yesterday, scared by the market’s sudden fall through a key technical level brought on by more worries about Europe’s debt troubles. The S&P 500 steadily slipped through the morning until it broke through 1,225, when selling picked up in both the futures and cash markets. Investors have been increasingly focused [...]
Rebalancing the economy is a priority: The carbon floor price needs to be scrapped November 17, 2011 POLITICIANS of all parties are keen that the British economy’s fortunes depend less on the work of City A.M.’s readers. Chuka Umunna – Labour’s shadow business secretary – told Bloomberg this week that under the last government growth “was too concentrated in too few sectors, and in too few regions”. Similar sentiments have been expressed [...]
This tax will not fly: Don’t ground Britain’s growth November 17, 2011 THE chief executives of rival airlines Virgin Atlantic, easyJet, Ryanair and the IAG group – which includes British Airways – do not normally agree to share a platform. That they chose to yesterday morning – outlining their opposition to Air Passenger Duty (APD) – is a sign of how seriously the aviation sector takes this [...]
Democracy is thrown aside in the Eurozone November 17, 2011 THERE is not one elected official in Italy’s new government, but it’s apparently very bad form to mention it. Democratic government has been suspended on the fringes of the Eurozone with barely a whisper. News reports mention in passing that “technocrats” have been ushered in to make sure Greece and Italy reform their economies as [...]
