UK poor are better off than ever before, claims thinktank May 16, 2011 WESTERNERS on low incomes are better off than ever before thanks to cheap imports and efficient retailing, an influential Westminster thinktank will argue today. Complaints of widening income inequality are frequently incorrect and misleading, the Adam Smith Institute report claims. “A much greater array of goods and services are available to the poor, at substantively [...]
Business groups attack coalition plan for extended parental leave May 16, 2011 BUSINESS groups yesterday leapt on government plans to extend legislation on parental leave, arguing that it contradicts the pledge to cut red tape. A consultation paper proposes a new period of leave that could be shared between parents over 30 weeks, following initial leave periods. “The proposals look to allow more flexible parental leave, but [...]
CITY MOVES | WHO’S SWITCHING JOBS May 16, 2011 Legal & General Property Charlie Walker has been promoted to director of the property fund manager and appointed to the LGP Board. Most recently, Walker was senior fund manager to the UK Property Income Fund. In his new role, he will continue to oversee the fund, which this month secured a further £100m of equity. [...]
Miners offset banks to leave FTSE flat May 16, 2011 LONDON’S top shares closed flat yesterday as weakness from banks was offset by an aggressive rebound from mining stocks, helping the index break back through a support level which traders said could herald a buying spree. The FTSE 100 ended down 2.18 points at 5,923.69, well off the session low of 5,862.16. “There’s a lot [...]
Tech stocks lead a fall on Wall Street May 16, 2011 THE Nasdaq index sank yesterday, leading US stocks lower, as investors sold recent winners in a sign of growing unease with pockets of US economic weakness. The Dow Jones industrial average declined 47.38 points, or 0.38 per cent, to close at 12,548.37. The Standard & Poor’s 500 Index dropped 8.30 points, or 0.62 per cent, [...]
Technology clusters at the pinnacle of success May 16, 2011 SILICON Fen is the UK’s answer to California’s tech-rich valley. The Cambridge cluster is proof that, by forming a hub of creativity, UK technology companies can compete on the world stage. Charles Cotton of Cambridge Phenomenon explains that the original catalyst for Silicon Fen came from Tim Eiloart and David Southward, chemical engineering graduates from [...]
PROTECTION IS AS IMPORTANT AS INNOVATION May 16, 2011 SENIOR MARKET UNDERWRITER, TECHMEDIA, ZURICH INSURANCE THE technology sector is under continual pressure to adapt, develop and deliver innovation. This evolving business environment makes it hard for companies to benefit from the lessons learnt by more established industries and many companies have learned it is key for them to protect their assets, especially during their [...]
Bridget is not the only one that keeps a diary May 16, 2011 NOBODY likes making mistakes, especially when you lose money doing so. This is a feeling that contracts for difference (CFD) traders will be all too familiar with. But take heart, much as Winston Churchill once said: “All men make mistakes, but only wise men learn from their mistakes”. Traders can do just this by keeping [...]
EQUITIES ARE STRUGGLING AS QE2 ENDS May 16, 2011 MOST global equity markets are struggling to make headway following the sharp sell-off at the beginning of the month. Investors are shying away from stocks on concerns that valuations are looking stretched, and as a number of tailwinds which had previously offered support are now fading. In the US, the first quarter earnings season is [...]
UK retailers are serving up higher high street prices May 16, 2011 ACCORDING to a report issued by economic forecasting group Ernst and Young ITEM Club yesterday, UK retailers are in for a difficult time in the years ahead. The report points to rising inflation and energy bills – without corresponding wage increases – leaving households with less disposable income. “World prices for food, fuel and fibres [...]
