Britons hit by £360 a year fall in income March 21, 2011 HOUSEHOLD incomes have dropped by an average of £360 a year since 2008 — after accounting for inflation — the influential Institute for Fiscal Studies (IFS) revealed yesterday. This is the largest decline in living standards since 1980 to 1983, the IFS said. Usually household incomes rise above the level of inflation, by around five [...]
WE CAN’T TELL HOW BAD IT IS GOING TO GET March 21, 2011 CFD MARKET STRATEGIST, GFT The tragic consequences of the earthquake and tsunami that hit Japan over a week ago continue to reverberate, with the terrible human cost now becoming apparent. The situation has been made much worse by the uncertainty that surrounds the severity of the damage to the Fukushima nuclear facility. The initial panic [...]
US existing home sales slump March 21, 2011 Sales of previously owned US homes plunged in February and prices hit their lowest level in nearly nine years. Sales fell 9.6 per cent month-on-month to an annual rate of 4.88m units, reversing three straight months of gains. The percentage decline was the largest since July, the National Association of Realtors said yesterday.
UK firms optimistic over growth March 21, 2011 Almost three quarters (72 per cent) of firms report that they can grow despite the government’s austerity measures, a survey for consultants KPMG revealed yesterday. However, over half (52 per cent) said that complex regulations were the greatest obstacle to their expansion. “Businesses need assurance that relief will be coming their way to minimise red [...]
Research says cuts could aid UK March 21, 2011 The UK’s deficit cuts are unlikely to stall the recovery, and could even be economically expansionary, an academic paper showed yesterday. “Relaxing spending cuts would not necessarily improve the prospect for short-term growth,” the Oxford University Centre for Business Taxation report said. Fiscal cuts are more likely to be expansionary if there is an initially [...]
CITY VIEWS: ARE YOU NOTICING A SQUEEZE IN LIVING STANDARDS? March 21, 2011 KEVIN HARPER | ALLIANZ “Yes, fuel prices are going up, which has a major impact on disposable income — and there are few signs of salary increases coming any time soon.” SUSHANT KAPUR | HSBC “Yes indeed, I work for a bank so I see that, and see people experiencing it. The squeeze is caused [...]
Fukushima blow will not prevent nuclear future March 21, 2011 IN THE immediate aftermath of the Fukushima Daiichi nuclear power plant crisis, apocalyptic fears proliferated across the globe. Despite the panic that always accompanies nuclear incidents, the world’s growing energy needs will not disappear: nuclear is a solution that will not go away. The nuclear industry has been seriously set-back by this disaster. Uranium dropped [...]
THE TIPSTER March 21, 2011 SPECIALIST engineering group Smiths is expected to deliver solid interim results on Wednesday, on the back of ongoing cost-saving efforts. After hitting all-time highs around 1,440p early in 2011, the shares slipped back to around 1,250p. With Smiths seen as a target for break-up bidders, look for dips back around 1,250-1,300p to buy some CFDs. [...]
TRICHET’S COLLEAGUES ECHO HAWKISH TONES OVER EURO RATES March 21, 2011 EXPECTATIONS of a hike in Eurozone interest rates spiked again yesterday, as Jean-Claude Trichet again warned against “second round effects” of price pressures. European central bank colleagues Yves Mersch and Gertrude Tumpel-Gugerell both echoed his message of “very strong vigilance” towards inflation.
Rockhopper upbeat on its Falklands find March 21, 2011 BRITISH oil explorer Rockhopper said it expected its Sea Lion well in the Falkland Islands to be commercially viable, raising hopes that the remote territory will become a new oil province. “Following this positive result we believe Sea Lion is highly likely to prove commercially viable,” Rockhopper chief executive Sam Moody said. “The well has [...]
