BoE heads for row over UK stimulus August 16, 2010 BANK OF ENGLAND governor Mervyn King will be readying his pen this morning to write his second letter to chancellor George Osborne if annual inflation was, as expected, above three per cent last month. City economists expect headline consumer price index (CPI) inflation to ease to 3.1 per cent in July from 3.2 per cent [...]
CITY VIEWS: ARE YOU WORRIED ABOUT RISING INFLATION? August 16, 2010 ANDREW DAMM | ROYAL BANK OF SCOTLAND “Its a bit of a tricky situation at the moment, but in the long term the market will sort itself out. I think it will be a slow recovery and we need to be cautious.” JOHN WHITE | QUASH “Personally I’m not that worried about inflation, but it [...]
US manufacturing index rises August 16, 2010 A gauge of regional manufacturing in the US rose in August after plunging the previous month but it fell short of analysts’ forecasts, adding to evidence that the US recovery is losing momentum. The New York Federal Reserve said yesterday that its Empire State general business conditions index increased to 7.10 in August from 5.08 [...]
US homebuilders less positive August 16, 2010 Homebuilder confidence in the US dropped to a 17-month low in August, according to the National Association of Home Builders index. The index fell to 13, its worst reading since March 2009. Analysts had expected the index to rise to 15 from 14 in July. A reading above 50 indicates that builders view conditions as [...]
House prices drop in London August 16, 2010 London house prices dropped by four per cent in August, wiping out any gains made earlier this year, according to Rightmove. On average £17,000 came off London asking prices in August, the biggest drop in two years. The average London house price now sits at £405,058, falling back to January levels. Wandsworth and Brent fell [...]
Jewel thieves escape with £380,000 haul August 16, 2010 MASKED raiders escaped with £380,000 worth of jewellery and watches after a brazen smash and grab at a City arcade. A gang of four thieves wearing balaclavas smashed their way into luxury jeweller De Beers, in the Royal Exchange, with sledge hammers in a five-minute raid on Saturday night. They targeted diamonds before breaking into [...]
UK pension pot values slumped again in July August 16, 2010 THE VALUE of the nation’s pensions has continued to tumble in the past month, with the average 30-year-old losing £518 from their annual pension income in the last four weeks alone according to recent figures. The average 65-year-old is left with £7,666 a year, according to Aon Consulting’s monthly pension tracker, which is half the [...]
CITY MOVES | WHO’S SWITCHING JOBS August 16, 2010 Daiwa Capital Markets Hetal Mehta, a former senior economic adviser to the Ernst & Young ITEM club, has joined the Japanese brokerage’s investment banking arm as its new UK economist. Mehta joins from Oxford Economics and has also previously worked at HM Treasury and in the office of the deputy Prime Minister as a policy [...]
finance boss in the wars after hitler gag August 16, 2010 AS A hack, it gets frustrating to be confronted with a deafening silence when asking any financier to stand up and publicly defend the industry against politically-motivated attacks – especially when the same hotshots are perfectly happy to shoot their mouth off when cornered in private. But, refreshing as it is to find an exception [...]
FTSE remains flat as takeover moves are offset by weak Japanese survey August 16, 2010 BRITAIN’S top shares closed flat yesterday as concerns over economic recovery after weak data from Japan offset firmer miners, led up by Vedanta Resources which made its play for a controlling stake in Cairn India. The FTSE 100 ended up 0.66 points at 5,276.10, having closed up 0.2 per cent on Friday. “Investors continue to [...]
