UK faces record vacancy rates in 2013 as administrations rise January 24, 2013 RECENT retail administrations could lead to a doubling of store closures on Britain’s high streets, according to a report from the Local Data Company (LDC). The latest monthly figures from the LDC show that the shop vacancy rate decreased for a third month in a row by 0.06 per cent to 14.25 per cent in [...]
Bank lending to firms plunges again despite government aid January 24, 2013 GOVERNMENT schemes to boost lending to companies have failed to turn around the firms’ deleveraging since the crisis, according to industry figures out yesterday. Net lending to non-financial firms plunged by £3.5bn in December, even faster than the £3.1bn fall in November and the biggest dip since June, the British Bankers’ Association (BBA) revealed. The [...]
EnQuest becomes first oil firm to launch retail bond on LSE January 24, 2013 EXPLORER EnQuest yesterday unveiled a nine-year retail bond paying 5.5 per cent, becoming the first oil company to launch the product. The bonds, which will mature on 15 February 2022, have a minimum initial subscription amount of £2,000. They will also be admitted to the London Stock Exchange’s Order Book for Retail Bonds. The bond [...]
Japan logs record trade deficit January 24, 2013 Japan logged a record annual trade deficit in 2012 as exports extended a slide in December, signalling that Prime Minister Shinzo Abe’s efforts to weaken the yen have been slow to gain traction. Despite polls suggesting Japanese manufacturing sentiment is improving, the 2012 trade gap of ¥6.93 trillion ($78.27bn) and a seventh consecutive monthly drop [...]
Italy’s Monti criticised over banks January 24, 2013 Italian Prime Minister Mario Monti said yesterday he would be prepared to recall parliament to report on the troubled Banca Monte dei Paschi di Siena but rejected suggestions that authorities had failed in their oversight functions. “It’s an issue which is really without any substance, but the government is nonetheless ready to address parliament on [...]
Bad loans up at Spanish lenders January 24, 2013 Spanish banks Bankinter and Sabadell both reported rising bad loans yesterday. Mid-sized Bankinter warned its bad loans could hit five per cent of total loans this year, up from 4.28 per cent at the end of 2012. Barcelona-based Sabadell, meanwhile, said its bad loan ratio jumped to 9.33 per cent of total loans at the [...]
Tough demands put on next lot of Zuckerbergs January 24, 2013 FACEBOOK’S recently opened London base is the type of relaxed environment the average undergraduate must dream of entering the workforce in – skateboards strewn across the floor, boardgames stacked on top of each other, and oddly-shaped sofas rather than stiff office chairs. However, ambitious students fantasising about being the next Mark Zuckerberg will have to [...]
Sorry seems to be the sweetest word for some C2C commuters January 24, 2013 THE ART of the official apology is a difficult one to master (see: Tesco’s “hit the hay” tweet and Nick Clegg’s video mea culpa), and rail operators are not known for their human warmth when trains break or go missing. So The Capitalist is heartened to hear of C2C’s act of contrition, which came in [...]
Nokia hangs up on dividend to preserve cash January 24, 2013 NOKIA returned to profit in the final quarter of 2012, as sales of its Lumia smartphones finally picked up. However, the Finnish company said it would not be paying a dividend for the first time in over 20 years, as it struggles to preserve its cash pile. Following a cost-cutting plan that saw tens of [...]
Margin caution from Jaguar Land Rover hits Tata Motors January 24, 2013 JAGUAR Land Rover’s (JLR) runaway profit growth could hit a speed bump in the next quarter, the firm said yesterday in an announcement that sent parent firm Tata Motors’ shares down as much as ten per cent. British carmaker JLR said that while revenues rose in the last three months of 2012, its profit margin [...]
