Aberdeen sets sail with a new offshore asset May 10, 2012 ABERDEEN Asset Management has taken its understanding of offshore investments to a whole new level. Earlier this week, Charlie Martell embarked on a boat journey of epic proportions, and Aberdeen helped put the wind in his sails. Only metaphorically, you understand, because Charlie set off across the Pacific Ocean with not much more than a [...]
Inflation threat leaves interest rates on hold May 10, 2012 UNCOMFORTABLY high inflation stopped the Bank of England from announcing any more quantitative easing (QE) yesterday, despite the new recession increasing calls for further attempts to stimulate demand. The Monetary Policy Committee (MPC) held interest rates at 0.5 per cent for the 39th consecutive month, and decided not to increase the size of the asset [...]
Manufacturing rebound hints at recovery in the second quarter May 10, 2012 MANUFACTURING output rebounded in March, official figures showed yesterday, raising hopes that the economy may be emerging from recession. However, the month’s warm weather hit overall industrial production as energy consumption fell, and Nationwide data out today shows consumer confidence remains subdued, underlining the sluggish nature of any recovery. Factory output rose 0.9 per cent [...]
Construction up as private sales trump falling public demand May 10, 2012 ACTIVITY in the construction sector edged upwards in the first quarter of 2012, surveyors reported today, indicating a rebound may be on the way following the strong fall in output seen in official data. Twenty-three per cent of surveyors reported rising workloads, compared with 15 per cent who reported a decline, leaving a net balance [...]
Buy to let loans rise as market woes heal May 10, 2012 BUY to let lending jumped sharply in the last year, industry figures showed yesterday, though the sector remains far smaller than it was in its 2007 peak. Lending in the first quarter hit £3.7bn in 32,000 loans, according to the Council of Mortgage Lenders. This was up 32 per cent on the same period of [...]
Weak Chinese exports fuel growth fears May 10, 2012 CHINA risks a fresh downturn in demand for goods from its massive factory sector, with official data yesterday showing weaker than expected exports and stalling headline import growth last month signaling that government spending is the crucial factor keeping the economy moving. Annual growth in imports in April was just 0.3 per cent, far below [...]
US jobless data better but trade deficit widens May 10, 2012 THE NUMBER of Americans submitting new applications for jobless benefits edged down last week, official data showed yesterday, boosting hopes that the labour market remains on an upward trajectory. However Commerce Department data showed a widening in the trade deficit in March, suggesting economic growth was much slower in the first quarter than initially believed. [...]
BERNANKE: BANKING SYSTEM ON THE UP May 10, 2012 THE US banking system has made substantial progress toward becoming healthier since the financial crisis, Fed boss Ben Bernanke said yesterday. However, he warned there were still problems in some areas, noting “many factors suggest that this situation will be difficult to turn around quickly, including the slow recovery of the housing market.”
Boris in race to boost London’s growth by 2020 May 10, 2012 BORIS Johnson yesterday issued a rallying cry to his staff, demanding they do everything possible “to create jobs and growth” in the capital, in a speech seen exclusively by City A.M. Addressing employees of the Greater London Authority (GLA) at City Hall, the mayor asked them to produce a “2020 vision” for London that will [...]
Profits chug downwards at train and plane maker Bombardier May 10, 2012 BOMBARDIER reported a sharp drop in first-quarter sales and profit yesterday, as aircraft deliveries declined and the company completed some big train orders, sending its stock lower. The Montreal-based plane and train maker, which warned in March that aircraft deliveries would dip in 2012, said revenue fell 25 per cent as it introduced new aircraft [...]
