Household wealth rises despite recession but pensions neglected July 12, 2012 BRITONS’ household wealth continued to grow between 2006-08 and 2008-10, but official figures revealed yesterday that nearly two thirds of people are failing to put any money into a private pension. Total household wealth – which includes property wealth, funds from pensions, and other financial assets – grew by 12.9 per cent to £10.3 trillion [...]
House prices stall in June but annual picture remains solid July 12, 2012 AFTER six months of growth, house prices inched down in June, according to a report released today by LSL Property Services. The average UK house price crept down to £224,102, a 0.1 per cent fall on the month, said LSL. On an annualised basis, however house prices were up three per cent. “Despite the recession [...]
CBI: State should act now to unlock 215,000 building jobs July 12, 2012 THE CONSTRUCTION sector is ideally placed to create hundreds of thousands of jobs in the short run, leading to stronger economic growth in the long term, the Confederation of British Industry (CBI) claimed yesterday. But for the potential 215,000 jobs to be created, the government needs to push local authorities and highways bodies to bring [...]
Brits cut back on holidays but tourism to UK hits record high July 12, 2012 RECORD numbers of tourists landed in the UK in the 12 months to May, official data showed yesterday. Yet the number of Britons holidaying abroad fell compared to the previous year, the Office for National Statistics (ONS) revealed. Brits’ holiday visits in the year to May totalled 35.9m, down three per cent on the previous [...]
Bank of Japan rejects easing as it projects healthy GDP growth July 12, 2012 JAPAN’S economy is growing relatively strongly and does not need any help from a looser monetary policy, its central bank announced yesterday, marking a stark contrast with the downbeat tone of other major central banks. In the week after the European Central Bank and Bank of England loosened policy to combat the sovereign debt crisis [...]
Leisure travel lifts Eurostar as firms stay put July 12, 2012 TOURISTS are flocking to the Chunnel for their European trips, but hard-up business travellers have cut back on journeys, Eurostar said yesterday. The train operator said passenger numbers rose two per cent to 4.8m in the first half of the year, bolstered by robust growth in leisure travel. The number of passengers originating from outside [...]
CITY MOVES | WHO’S SWITCHING JOBS July 12, 2012 Ignis Asset Management Jeremy Soutter has been appointed global head of product development at the asset management firm. He will join on 1 August from Aviva Investors, where he has held a similar position for 13 years. Soutter has worked in asset management since the early 1980s, notably at Gartmore Fund Management, Lloyds Bank and [...]
BEST of the BROKERS July 12, 2012 TESCO Shore Capital has a “hold” rating on the supermarket giant and a target price of 319p. The broker thinks Tesco is making steady progress improving its performance in the UK, but has downgraded full-year earnings forecasts by nine per cent for the firm’s Europe division, 12 per cent for the US and 9.5 per [...]
FTSE sees biggest daily fall in three weeks as fears over economy grow July 12, 2012 BRITAIN’S top share index dropped in weak volume yesterday to post its biggest daily fall in nearly three weeks as growth concerns and fading hopes for near-term US monetary stimulus hit investor sentiment. Minutes from the US Federal Reserve’s June meeting, released overnight, suggested the central bank would be prepared to give stimulus through a [...]
Technology shares push Wall St lower July 12, 2012 US stocks edged lower yesterday, led by technology shares, while diminished chances of monetary stimulus from major central banks prompted investors to shy away from risky assets. The Dow briefly moved into positive territory in sync with Procter & Gamble’s advance, with the blue-chip average bouncing off technical support at 12,500, analysts said. The S&P [...]
