More money printing off the menu for cautious rate-setters January 7, 2013 BANK of England policymakers will keep the printing presses out of action again in January, analysts predicted over the weekend. A more positive raft of data releases, combined with renewed concerns about the effectiveness of the quantitative easing (QE) programme, will stay a new bout of monetary expansion, according to market observers. “We expect the [...]
Manufacturers slash growth forecast in half January 7, 2013 THE UK manufacturing sector will grow less than half as fast as previously hoped during 2013, according to figures released this morning. Manufacturers will produce just 0.7 per cent more next year than in 2012, industry organisation EEF predicted today, down from earlier forecasts of 1.5 per cent growth. However, on a more positive note [...]
IT firms look to government as hopes in financial sector slide January 7, 2013 INFORMATION technology contractors are investing more and more hope in the prospect of a boost to public sector contracts, just as jobs from the financial sector are expected to dry out. The fraction believing the biggest wedge of new jobs will come from the state in the next 12 months hit 15 per cent at [...]
City Moves for 7 January 2013 | Who’s switching jobs January 7, 2013 SJ Berwin The law firm has announced the appointment of Steven Fogel to its partnership board and as a non-executive director. He was previously senior partner of Titmuss Sainer, and led the law firm in its merger with Dechert. Fogel then served as managing partner of Dechert’s London office before retiring in June 2012. He [...]
Best of the Brokers January 7, 2013 DIRECT LINE Numis cheers the insurer as one of its key picks for 2013, and has a “buy” rating and an increased target price of 265p. The broker sees Direct Line’s price to earnings ratio as modest at 9.4 times, in spite of a 22 per cent share price rise since October’s float. Numis also [...]
Worries over fiscal cliff give way to concerns about latest US earnings January 7, 2013 INVESTORS’ fiscal cliff worries are likely to give way to more fundamental concerns, like earnings, as fourth-quarter reports get under way this week. Financial results, starting tomorrow with aluminum company Alcoa, are expected to be only slightly better than the third-quarter’s lacklustre results. As a warning sign, analyst current estimates are down sharply from what [...]
January Bank rates are likely to stay steady January 7, 2013 THE European Central Bank (ECB) is likely to keep interest rates on hold when it meets for its first policy meeting this year, analysts predict. “We believe the continued improvement in the forward-looking survey data will have been sufficient to stay the hand of those on the council who last month were willing to wait [...]
Brave start-up entrepreneurs may be set for a positive 2013 January 7, 2013 LAST year’s employment market was characterised by insecurity, scarcity of supply, and job losses in once buoyant sectors. Previously good reasons for staying in a City job could now be gone. While an uncertain jobs market may not be incentive enough alone for you to take the equally difficult path into entrepreneurship, according to Stuart [...]
The money delusion: How I escaped the misery of my millions January 7, 2013 THE girl was absolutely gorgeous and I was thrilled to be chatting her up. It was about 2.30 in the morning and I sat with her in Jimmy’z in Monaco, a very expensive nightclub, drinking Cristal, a very expensive champagne. “What do you do?” she asked, music thumping in the background. I tried to adopt [...]
Government loans aren’t hand outs January 7, 2013 LAST week, the government announced the expansion of its start-up loan scheme, headed up by serial entrepreneur James Caan. Originally aimed at 18 to 24 year olds, and with funding of £82m, the loans are now available to anyone aged up to 30 and the total amount of funding will increase to £112m. The inevitable [...]
