Fathom: Spain could be next to go May 3, 2011 Spain is “on a knife edge” as the next country facing possible default on its government debts, Fathom Consulting will warn today. It says the UK is “not far behind it,” despite the coalition’s austerity plans. A stuttering, weak recession is “the best the UK can hope for,” Fathom argues, “given the scale of government [...]
Rate of sickness leave still falling May 3, 2011 Workers are taking fewer days of sickness leave, a survey revealed yesterday. The average employee took five days sickness leave in 2010 compared to 6.7 days in 2007, the EEF and Westfield Health 2011 survey showed. An all time high of 45 per cent of employees took no days off through sickness last year.
Rates kept on hold in Australia May 3, 2011 Australia’s central bank kept its rates steady at 4.75 per cent yesterday, despite risks that it will have to move later in the year to restrain inflation amid a massive trade and mining boom.
India tightens monetary stance May 3, 2011 India’s central bank raised key interest rates for the ninth time since March 2010 yesterday, by a sharper-than-expected 0.5 per cent. The repo rate, at which it lends to banks, rose to 7.25 per cent, and the reverse repo rate was hiked to 6.25 per cent. India’s headline inflation rose to nine per cent on [...]
Ireland gets boost from industry May 3, 2011 The pace of growth in Irish manufacturing activity rose slightly in April to its second highest level in 11 years, the NCB Purchasing Managers’ Index revealed yesterday. Irish factory PMI rose to 56.0 in April from 55.7 in March, staying above the 50 mark separating growth from contraction for the seventh month.
Swedes wary of rising wages May 3, 2011 More interest rate hikes could be on the cards in Sweden, after the minutes of the latest Riksbank meeting revealed fears over upside pressures to inflation. The current rate path signals three further increases in rates this year.
CITY MOVES | WHO’S SWITCHING JOBS May 3, 2011 Ashcourt Rowan Ashcourt Rowan, the wealth management division of Syndicate Asset Management, has appointed Paul Miles as director of intermediary services. Miles joins Ashcourt Rowan from discretionary fund management platform Parmenion, where he was sales director for the last three years. Miles will report to Christopher Jeffreys, Syndicate’s director of asset management, who has been [...]
BEST OF THE BROKERS May 3, 2011 BSKYB Credit Suisse rates the media group “neutral” and has raised its target price to 870p, based on the price it believes News Corp might have to pay to secure a takeover recommendation from the board. A News Corp offer for BSkyB could come within days, the broker thinks. Credit Suisse has calculated its new [...]
Drugmaker deals buoy FTSE despite dragging miner shares May 3, 2011 DRUGMAKERS helped Britain’s top share index rise modestly yesterday, buoyed by deal activity in the United States, as traders mooted the possibility that a recent equity rally may falter. Miners hampered the FTSE 100’s progress though, hurt by easing metals prices on renewed fears about demand, with Rio Tinto off 1.6 per cent on talk [...]
US stocks slide as investors cash in May 3, 2011 US stocks fell yesterday as investors questioned the sustainability of the rally in light of fresh worries about earnings growth in the coming quarters. Investors targeted recent top performers, particularly energy shares, which were also hit by a fall in oil prices. The S&P energy index dropped 2.4 per cent, while oil futures lost more [...]
