Economic woe in euro area will hit banks March 25, 2012 ECONOMIC woes in the Eurozone are hitting the financial services industry, a new report claims this morning, despite political measures that have calmed the markets. Loans approaching or at the point of default are set to hit an all time high, according to economists at Ernst & Young. Non-performing loans “will rise above six per [...]
Homes near top schools cost an extra £90,000 March 25, 2012 HOUSES located near top performing primary schools cost an average of 42 per cent more than homes in other areas, according to research published this morning. Parents concerned with securing their children a place at a well-regarded school can pay an average of £91,618 more for a property than they would have to cough up [...]
Research: Low interest rates caused crisis March 25, 2012 BANKS were pushed into risky lending by low interest rates, creating the sub-prime bubble and causing the global financial crash, new research out claims – and low rates could again be failing to help the economy in the long run. Low rates in the US and other western economies in the 2000s led banks to [...]
M&A volumes down in 2012 March 25, 2012 GLOBAL market worries have continued to knock merger and acquisition activity at the start of the year, according to a new study released this morning. Internationally, the number of M&A deals fell by 24 per cent in the opening three months of the year compared to the final quarter of 2011, Ernst & Young has [...]
Number of British insolvencies edged up over last year March 25, 2012 INSOLVENCIES have crept up over the past 12 months, according to data released by Experian this morning. The rate of insolvencies among British companies rose to 0.1 per cent last month, compared to 0.08 per cent in February 2012. Among medium to large-sized firms – categorised as those with between 101 and 500 employees – [...]
Austerity keeps interest rates low, says study March 25, 2012 LARGE budget deficits and growing national debts push up interest rates and leave countries more vulnerable to global economic shocks, according to new research out today. While monetary and fiscal policies globally make the most difference to rates, a paper presented today at the Royal Economics Society argues individual governments also have an impact, with [...]
Head of bailout fund wants big Eurozone pot March 25, 2012 A HIGHER lending capacity for the Eurozone’s rescue fund would help to reassure markets, the head of the bailout fund said yesterday. The German government is believed to be about to bow to international pressure to bolster the fund. “More money would reassure markets. Wrongly or rightly the fact is that big numbers in the [...]
Slow progress on derivative rule March 25, 2012 International regulators are likely to miss their 2012 deadline to push most derivatives trading onto central counterparties, the Bank of England believes, and need to engage more with industry participants. The G20 group of nations and the Financial Stability Board (FSB) want financial derivatives, such as interest rate swaps, to be cleared centrally rather than [...]
FEWER PAY FREEZES AT UK FACTORIES March 25, 2012 PAY settlements in UK factories have risen slightly to an average rise of 2.5 per cent, the industry group EEF said today. The data showed that only one in 10 manufacturing employees are now agreeing to a pay freeze, compared to a ratio of one in six when the EEF last released its data in [...]
CITY MOVES | WHO’S SWITCHING JOBS March 25, 2012 Coutts Jennifer Mathias has been appointed chief financial officer of the wealth division of the Royal Bank of Scotland, with immediate effect. Mathias joins from Lloyds Banking Group, where she was finance director of the corporate banking division. She will report to Fiona Davis, finance director for retail and wealth within the Royal Bank of [...]
