BEST OF THE BROKERS May 16, 2011 INTERCONTINENTAL HOTELS JP Morgan (JPM) rates the hotel chain “overweight” with a target price of £16.72. The broker thinks a better-than-expected performance since the start of the year will make up for any impact from events such as the Japanese and New Zealand earthquakes, and keeps the firm as one of its top picks. The [...]
Eurozone hit by sharp leap in core prices May 16, 2011 CORE inflation in the Eurozone shot up in April, it was revealed yesterday, while a senior central bank official signalled more interest rate hikes to come. Core consumer prices (excluding energy, food, tobacco or alcohol) jumped to 1.6 per cent in the single currency area last month, from 1.3 per cent in March and one [...]
America hits its debt ceiling May 16, 2011 AMERICA’S government has hit its debt ceiling of $14.3 trillion (£8.8 trillion), with President Obama threatening that a failure to raise the limit could trigger a devastating economic and financial crisis. The White House and congressional Republicans are locked in a debate over the deficit and the debt ceiling. While Obama says the US will [...]
Inflation is the biggest worry for older Britons May 16, 2011 INFLATION is responsible for damaging the quality of life of middle-aged and elderly Britons, and particularly those on lower incomes, a survey revealed today. More than half of people over 50 are increasingly worried about the cost of living, listing it as their main concern. Fears over price pressures even dwarf concerns about health or [...]
BERNANKE BACKS STATE FUNDING OF R&D May 16, 2011 GOVERNMENTS should consistently spend money on research and development (R&D) projects, US Federal Reserve chief Ben Bernanke said yesterday. “The primary economic rationale for a government role in R&D is that, absent such intervention, the private market would not adequately supply certain types of research,” Bernanke argued.
Job prospects hold strong in City May 16, 2011 Job opportunities in the City levelled out in April, possibly slowed by the high number of bank holidays, a survey showed today. New financial services openings were still 15 per cent up on the same time last year, the Morgan McKinley London employment monitor showed.
Switch to short-term US assets May 16, 2011 Foreigners cut purchases of long-term US securities in March, data revealed yesterday. The US attracted a net long-term capital inflow of $24bn in March compared with February’s revised $27.2bn inflow – the fourth straight monthly decline. But including short-dated assets such as bills, foreigners bought a net $116bn compared with a downwardly revised $95.6bn the [...]
New York factories in slowdown May 16, 2011 Manufacturing growth in New York State slowed much more than expected in May to its slowest pace in five months. General business conditions fell in the Empire State index, down to 11.88 from 21.70 in April, the lowest level since December 2010 and well below economists’ expectations of 19.85. New orders also dropped, yet employment [...]
Low morale for US homebuilders May 16, 2011 US homebuilder sentiment was unchanged at low levels in May as on-going foreclosures and tight credit kept buyers reluctant to get into the market. The National Association of Home Builders / Wells Fargo housing market index held at 16, the group said in a statement. Readings below 50 mean more builders view market conditions as [...]
Critics target PM’s reforms for the NHS May 16, 2011 PRIME Minister David Cameron’s proposed health reforms were attacked by both sides yesterday, with pro-reform groups criticising his “diluted” statement and Labour calling the plans a “shambles”. In a speech to doctors yesterday, the Prime Minister said the NHS would remain “much like what we have today.” Reforms will be “evolutionary, not revolutionary”, Cameron said. [...]
