City builders set to bounce back in 2013 January 24, 2012 LONDON’S construction sector will continue to face tough conditions this year but is expected to return to steady growth from 2013 as building projects such as the Crossrail and Land Securities’ Walkie Talkie gather momentum. Greater London will see an expansion rate of 2.5 per cent per year over the five years to 2016 – [...]
Colliers gets takeover bid from investor January 24, 2012 PROPERTY services group Colliers International has received a takeover offer for its UK arm from its main shareholder, Canadian property giant FirstService. Colliers, the world’s third largest commercial real estate organisation, said the price indicated was at a slight discount to Monday’s closing price of 1.47p, valuing the group at just over £2m. Its shares [...]
Euro output shows signs of stabilising January 24, 2012 ECONOMIC activity stabilised in the Eurozone this month, Markit’s purchasing managers’ index (PMI) showed yesterday, though employment was hit across the area. Services PMI rose to a five-month high of 50.5, up from 48.8 in December, while the manufacturing output index rose from 47.1 in December to a six-month high of 50. Any figure above [...]
What historic brands can learn from Kodak January 24, 2012 USUALLY in this column I focus on how brands perform in the UK. But with the news last week that Kodak had filed for Chapter 11 bankruptcy protection, this week I will look at what has happened to the famous company on the US version of BrandIndex. Kodak is 133 years old and we only [...]
Anger as Santer brought back for bailout fund role January 24, 2012 POLITICIANS reacted with fury last night after the official who presided over one of the worst corruption scandal in EU history was appointed to a key role in the Eurozone bailout fund. Jacques Santer, 74, will run a special purpose investment vehicle (Spiv) designed to raise funds to defend the Eurozone. He was president of [...]
Spain told it can’t delay deficit cuts January 24, 2012 SPAIN will not be allowed any more time to cut its budget deficit, the European Commission said yesterday. Budget minister Cristóbal Montoro called for the EU to give the country extra leeway on deficit targets this year on the basis that the economy is suffering another recession. However commissioners yesterday insisted Spain will not be [...]
Record UK borrowing as debts hit £1 trillion January 24, 2012 GOVERNMENT borrowing slowed in December, figures from the Office for National Statistics (ONS) showed yesterday, with new borrowing falling on an annual and monthly basis. The government borrowed £13.7bn last month, down from £17.9bn in November and £15.9bn in December 2010. That takes borrowing for the financial year so far to £103.3bn, down £11.3bn on [...]
Simon Ward: Pay Treasury with cash from QE’s income January 24, 2012 BANK bailouts and quantitative easing have both provided the government with a financial boost worth tens of billions of pounds, according to analysis from economist Simon Ward from Henderson Global Investors, published yesterday. Ward argues the government’s favoured measure – public sector net borrowing (PSNB) excluding financial interventions – gives too gloomy a view of [...]
What do you think of the UK’s GDP figures for the end of 2011? January 24, 2012 THIS morning, the government will release GDP figures for the final quarter of 2011, giving forecasters the chance to predict how the economy is going to fare in 2012. So this week for our Voice of the City poll with PoliticsHome.com, we’re asking for your reaction to these latest figures. Panel members will receive an [...]
Nordea dividend cut as profit falls January 24, 2012 Nordea, the Nordic region’s biggest bank by value, posted fourth-quarter operating profit that topped forecasts thanks to strong trading results, but trouble areas in Denmark and shipping led to bigger-than-expected credit losses. Operating profit for the period fell four per cent to €1.03bn. Nordea’s net loan losses in the fourth quarter were €263m compared with [...]
