OAP planners boost savings April 17, 2012 SAVING money is more of a priority than splashing the cash ahead of retirement, according to research from Prudential, published today. Six out of 10 Brits due to retire this year said that saving money to ensure they had enough to live on would be one of their top priorities, compared to four in 10 [...]
Japanese confidence jumps April 17, 2012 The mood of Japanese consumers improved to a one-year high last month, according to a cabinet office survey published yesterday. Consumer confidence was boosted by hopes for support from post-quake reconstruction, following last year’s devastating natural disaster. The survey’s index showed that views on income and jobs averaged 40.3 in March, up from 39.9 in [...]
India cuts its interest rates April 17, 2012 India’s central bank cut the interest rate for the first time in three years yesterday in an attempt to boost its sagging economy. The Reserve Bank of India cut rates by 50 basis points, double the expected 25 basis point cut and leaving its main interest rate at eight per cent. The news was well-received, [...]
CITY MOVES WHO’S SWITCHING JOBS April 17, 2012 Symvan Securities The corporate finance house has announced that Shamim Mansoor has joined as a mining analyst. Mansoor arrives from HSBC, where she served as vice-president global metals and mining. She previously worked for five years at Investec. CapQuest CapQuest, specialists in the purchase, management and collection of consumer debt, has appointed Bill Flynn as [...]
BEST of the BROKERS April 17, 2012 HIKMA UBS has upgraded the pharma group from “neutral” to “buy” with a target price of 755p, saying that a recent fall in the share price seems to already reflect expected changes to 2012-13 consensus. The broker still sees downside risk of 10 per cent and six per cent for 2012/13 respectively, but sees the [...]
Bouncing back banking shares see FTSE jump by nearly two per cent April 17, 2012 BRITAIN’S top share index gained nearly two per cent yesterday, led by a rebound in banking stocks after a well-covered Spanish bill auction eased some concerns about banks’ exposure to Eurozone debt. Barclays was the top sector performer, rallying 4.6 per cent after BofA Merrill Lynch said earnings upgrades could be on the horizon for [...]
Biggest gains in a month on strong profits April 17, 2012 US stocks scored their biggest gains in a month yesterday after Coca-Cola led a round of strong earnings and as concerns about Europe’s debt crisis eased as Spanish bond yields fell. Apple shares ended a five-day losing streak with a rally of 5.1 per cent, helping the Nasdaq Composite close above 3,000. The stock closed [...]
It’s true: There’s a real danger that fracking will cause a major boom April 17, 2012 A REPORT commissioned by the government and released yesterday has given the green light to the extraction of shale gas. The report concludes that hydraulic fracturing (fracking), a technology that pumps water and chemicals underground to fracture shale formations in order to release trapped gas, is safe but requires tight regulation and seismic monitoring. The [...]
Luck-based pay makes decision making a lottery – it doesn’t improve it April 17, 2012 MY NEIGHBOUR Debbie buys Lotto tickets. At least, she pays for them. She deputises the job of going to the corner store and selecting the numbers to her ten-year-old son Wayne. Wayne receives a base wage of 50p for putting in the time and he can also earn a performance-related bonus. If he successfully returns [...]
New property tax rules will stamp on UK developers April 17, 2012 FEW readers of City A.M. may have lost sleep over the chancellor’s decision in the recent Budget to impose a 15 per cent stamp duty land tax (SDLT) on acquisitions of homes costing over £2m by “non-natural persons”. After all, why shouldn’t we clamp down on the purchase of residential properties through companies, collective investment [...]
