…yet BRICs and Eurozone suffer a factory slump October 3, 2011 NEW orders from factories in the Eurozone shrank at their fastest pace since mid-2009 last month, as weak manufacturing figures from across the world stoked fears of another recession. Markit’s Eurozone manufacturing purchasing managers’ index (PMI) came in at 48.5 in September, down from 49 in August. All figures below 50 point to economic contraction. [...]
Key City jobs hit last month October 3, 2011 JOBS in banking and insurance plummeted in September, according to Reed recruitment agents. Yet the Reed job index, released this morning, also contained more positive news for the City, with jobs in other financial services recovering slightly from a fall in August. Elsewhere in the economy, manufacturing jobs also bounced back to show strong growth. [...]
Gold-related groups might bring markets to life October 3, 2011 GOLD has been one of the few winners of the recent downturn because of its safe haven status, so it should come as no surprise that companies involved in the production of the precious metal should be first in the queue to bring a ray of sunshine to the nearly dormant new issues markets. Polymetal, [...]
DO YOU THINK THE MINIMUM WAGE SHOULD BE REDUCED TO ENCOURAGE YOUTH EMPLOYMENT? October 3, 2011 ALEX TROTTER | HAYWARDS AVIATION “I think that improving education would be a better way to encourage youth employment rather than focusing on the minimum wage. I don’t necessarily think that changing it will affect youth unemployment.” PETE GODFREY | JRP UNDERWRITING “If the minimum wage were reduced, there’s a danger that a lot of [...]
UK banking fees slump to 2002 depths October 3, 2011 UK investment banks have witnessed their worst year for fee revenue since 2002 this year, thanks to the grim economy and markets, data from Dealogic showed yesterday. The UK’s banks generated just $2.5bn (£1.6bn) of revenue in the past nine months, slashing their share of the global market to only 4.6 per cent, almost half [...]
Short sellers aim for Next and Glencore on FTSE 100 October 3, 2011 FASHION retailer Next was the most shorted stock on the FTSE 100 in September as investors bet its share price would be dented by further pain on the high street, data from Data Explorers yesterday showed. Investors, primarily hedge funds, borrowed close to eight per cent of Next’s shares to take short positions as retail [...]
UK firms are still M&A targets despite fall in global dealmaking October 3, 2011 GLOBAL merger and takeover deals have fallen in value every quarter this year as torrid markets and gloomy economic expectations put pressure on companies, Dealogic data shows. M&A deals worth $633bn (£405bn) closed in the third quarter, a fifth lower than a year earlier. But early gains this year mean 2011 is so far still [...]
IATA sees air travel slide over August October 3, 2011 INTERNATIONAL airline traffic slowed in August compared to July, with the total passenger market down 1.6 per cent and cargo down by 1.3 per cent, industry figures released yesterday showed. The International Air Transport Association (IATA) said international markets fell by 1.8 per cent, while domestic markets slipped one per cent. The fall reflected a [...]
Gulf Keystone drafts in former Army chief October 3, 2011 THE FORMER head of the British Army, Lord Guthrie of Craigiebank, has been appointed a non-executive director of oil company Gulf Keystone. Lord Guthrie, who was chief of the defence staff between 1997 and 2001, is a cross bench member of the House of Lords. He was director of NM Rothschild & Sons Limited from [...]
Music sales dip as CDs fade out October 3, 2011 SALES of compact disc albums have continued to slide as digital downloads grow in popularity. Figures from BPI, the music industry’s trade body, showed that digital music accounted for almost 30 per cent of UK album sales in the third quarter, up from 20.1 per cent at the same time last year. Compact disc sales [...]
