Global growth getting better February 13, 2012 AN ECONOMIC upturn is on the way, and economies should start growing more strongly in the next six months, according to the Organisation for Economic Cooperation and Development’s (OECD) leading indices, published yesterday. Using indicators like business sentiment and job expectations to estimate economic growth in six months’ time, the study found positive figures in [...]
Household finances show signs of life with Londoners’ savings racing ahead February 13, 2012 HUNDREDS of thousands of households are coping better with paying bills and debts than they were late last year, Legal and General’s MoneyMood survey showed yesterday. The number struggling with financial commitments has fallen by 244,000 since the final quarter of 2011, to 1.89m. Of those, 189,000 are in London – down 81,000 on the [...]
Japan’s economy falls sharply as Thai floods and strong yen pull on exports February 13, 2012 JAPAN’S economy shrank much more sharply that expected in the final quarter of 2011, official GDP estimates showed yesterday. The strong yen and Thai floods helped cut exports by 3.1 per cent over the three-month period, leading GDP to contract by 0.6 per cent. Public fixed capital formation fell by 2.5 per cent, a second [...]
Unemployment heading toward 3m, warns study February 13, 2012 UK JOBSEEKERS face the worst labour market environment since early 2009, according to a study from the Chartered Institute for Personnel (CIPD), published yesterday. A net balance of eight per cent of firms are set to cut headcount, the group’s survey showed, which is expected to take unemployment up to 2.85m by the end of [...]
FIRST TIME BUYERS HURRY TO BEAT STAMP DUTY DEADLINE February 13, 2012 THE HOUSING market saw a jump in activity in December and January as first-time buyers snapped up houses before the stamp duty exemption runs out next month, data from the Council of Mortgage Lenders (CML) showed yesterday, and Royal Institute of Chartered Surveyors (RICS) today. Loans to first-time buyers were up 14 per cent on [...]
EU sees jump in trade to China February 13, 2012 Exports from the EU to China dramatically outgrew sales to other countries and regions in the last decade, Eurostat data revealed yesterday. The 27 countries saw exports to China rise consistently from €26bn (£21.78bn) in 2000 to €113bn in 2010, defying the overall drop in exports experienced in 2009. Imports rose from €79bn to €283bn [...]
Debt consolidation hits £1.5bn February 13, 2012 Consumers are set to borrow £1.5bn for debt consolidation in the thirst three months of 2012, according to data out yesterday from Sainsbury’s Finance. The 157,000 loans account for almost one in three of all unsecured loans taken out in the period, and average £9,800 each. “For those who perhaps have balances on credit cards [...]
CITY MOVES | WHO’S SWITCHING JOBS February 13, 2012 Avoca Capital The European credit investment manager has strengthened its credit offering by hiring Credit Suisse banker Vaibhav Piplapure, who joins as head of structured and illiquid credit. At Credit Suisse, Piplapure was most recently head of asset finance for Europe in the securitised products group. Prior to that, he was global head of the [...]
BEST OF THE BROKERS February 13, 2012 RWS HOLDINGS Numis has upgraded the intellectual property support service provider from “add” to “buy” and increases its target price on the stock from 534p to 565p, after the company reported trading in its first quarter has been in line with expectations. The broker sees RWS as a highly attractive business, with solid top line [...]
FTSE breaks through 5,900 mark on Greek bailout deal February 13, 2012 BRITAIN’S leading shares index closed higher yesterday, led by commodity and financial stocks, after Greece moved a step closer to securing an international bailout and avoiding a messy default. At the close, the FTSE 100 index was up 53.31 points, or 0.9 per cent, at 5,905.70, in volume just 70 per cent of the 90-day [...]
