London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
Western exporters threatened by softening Chinese demand June 6, 2012 BRITAIN is well behind its competitors in taking advantage of China’s impressive growth over the last decade, a top economist said yesterday, and it “will not be easy” for UK firms and the government to rectify that as China’s import growth begins to slow. China’s growth has been largely investment led in the past decade, [...]
GDP boom for Oz as consumer spending rises June 6, 2012 THE AUSTRALIAN economy expanded more strongly than expected in the first quarter, booming at its fastest pace in more than four years. GDP rose 1.3 per cent in the first three months of 2012 – more than double the 0.5 per cent that had been forecast. That growth spurt followed a downwardly revised 0.6 per [...]
May’s sunshine boosts sales on the high street June 6, 2012 THE SUN came out for the British high street in May, as warmer weather gave a boost to the struggling shopping sector. Retail sales were up 1.3 per cent on a like-for-like annualised basis last month, bouncing back from a miserably rainy April in which like-for-likes had plummeted by 3.3 per cent compared to a [...]
Eurozone crisis pushes mergers and acquisitions to record low June 6, 2012 MERGER and acquisition (M&A) activity plummeted in the first quarter, official figures showed yesterday, as nervous firms slashed spending in the UK and abroad. UK firms spent just £0.7bn on acquisitions abroad in the first quarter, according to data from the Office for National Statistics (ONS) – down 94 per cent from £12.6bn in the [...]
Derivatives regulators agree 15 new world-wide rules June 6, 2012 GLOBAL regulators agreed on minimum rules yesterday to shed light on the $700 trillion (£452 trillion) derivatives market, after being hamstrung by a dearth of information in the credit crunch, and to deter firms from moving trades to less regulated countries. The International Organisation of Securities Commissions (IOSCO), a Madrid-based umbrella body for over 100 [...]
CITY A.M. | SHADOW MPC NARROWLY IN FAVOUR OF HOLDING STEADY June 6, 2012 ALLISTER HEATH | CITY A.M. “No change in rates or QE. Economic woes are not being caused by tight monetary policy. Rather, supply side reforms are still desperately needed, while on the demand side the restrictions on banks are holding back credit. The crisis can’t be solved with increasingly ultra-loose monetary tactics.” SIMON WARD | [...]
Pressures ease on new homeowners June 6, 2012 Falling interest rates have eased the pressure on mortgage holding twenty-somethings, according to a charity that helps people who are struggling to keep up with payments. The number of first time homeowners fell from 4,489 in 2009 to 3,008 in 2011, according to the Consumer Credit Counselling Service. “The number of homeowners in mortgage arrears [...]
Loose credit prompted volatility June 6, 2012 The loosening of credit conditions from the early 1970s stoked volatility in the housing market, research from PwC showed yesterday. “In the 50s and 60s disposable incomes grew more strongly than house prices. But from 1970 onwards house prices rose more strongly on average than incomes but also became much more volatile,” chief economist John [...]
Beecroft proposals hit by criticism June 6, 2012 A leading human resources group has today hit out at the Beecroft report, which examined ways to cut job regulations. “By increasing job insecurity and reducing employee engagement it would be more likely to damage growth,” the Chartered Institute of Personnel and Development said.
Interest rates hit household savings June 6, 2012 The proportion of households saving each month has fallen from 43 per cent last June to 41 per cent now as low interest rates make it less attractive, according to Legal &General – a drop of around 500,000 to 8m people. And those who do save only put away an average of £71 – down [...]
