Interest rates inch down in third month of Funding for Lending November 29, 2012 INTEREST rates on new secured loans edged down in October, the third month since the Funding for Lending Scheme (FLS) began, data revealed yesterday, but rates on unsecured loans rose. The average interest rate on new secured loans edged down from 3.77 per cent to 3.74 per cent last month, the Bank of England said. [...]
Housing market treads water in November as weakness persists November 29, 2012 HOUSE PRICES were completely flat in November, data out yesterday revealed, highlighting the weakness in the market. According to Nationwide’s latest monthly survey average prices were unchanged this month at just under £164,000. However, in spite of staying flat in the month, the annual change in price worsened from minus 0.9 per cent in the [...]
US economy grew even faster than thought in third quarter November 29, 2012 US ECONOMIC growth for the third quarter was 2.7 per cent, on an annualised basis, data out yesterday revealed – up from the two per cent increase originally estimated. This came after growth running at just 1.3 per cent in the second quarter, the Bureau of Economic Analysis (BEA) said, with the increase coming from [...]
Net migration to UK sinks to eight-year low November 29, 2012 NET migration into the UK fell to its lowest total for almost eight years in the year to March 2012, data out yesterday revealed. In the year to March, 536,000 people came from abroad to live in the UK, according to estimates from the Office for National Statistics, down 42,000 on the year before, and [...]
PwC says £10bn overshoot may force Osborne into further cuts November 29, 2012 THE CHANCELLOR may be forced to reconsider his fiscal targets, PwC analysts said yesterday, as public borrowing looked likely to overshoot targets by around £10bn. Weaker than expected tax revenue has caused public borrowing figures to exceed the Office for Budget Responsibility’s expectations, the financial services giant said, and slower than expected trend growth could [...]
Who’s switching jobs November 29, 2012 Cordea Savills The international property investment manager has appointed Reynold Chan as business development director, Asia. Chan was most recently at Calista Consultants, and began his career in 1986 at Prudential providing real estate. He will be based in Hong Kong and report to Justin O’Connor, chief executive at Cordea Savills. BNY Mellon The investment [...]
Best of the Brokers November 29, 2012 CINEWORLD Canaccord has reiterated its rating for the cinema chain at “buy” and has upgraded its target price to 350p from 280p due to projected new sites and an increase in online usage. CHEMRING Espirito Santo has lowered its target price to 320p from 350p after the departure of chief executive David Price and disintegration [...]
FTSE touches three week highs on back of Rio pledge and US hopes November 29, 2012 BRITAIN’S FTSE 100 scaled three-week highs yesterday, cheered by promises of spending cuts at miner Rio Tinto and by growing hopes of achieving a US budget deal to avoid recession in the world’s biggest economy. The US ‘fiscal cliff’ of some $600bn in spending cuts and tax hikes that is otherwise due to come into [...]
Wall St rises as tax talks make trading volatile November 29, 2012 US stocks finished higher yesterday as investors bought on sporadic dips in a market roiled by conflicting comments from Washington about negotiations on an agreement to avoid the “fiscal cliff.” Tech shares, including Research In Motion and Advanced Micro Devices, helped the Nasdaq outperform the broader market. Telecommunications and health-care stocks were the day’s best-performing [...]
Leveson is wrong – regulation is not the answer to every problem November 29, 2012 THE two scandals which gave rise to the Leveson Inquiry were phone hacking and bribing the police. Both are already crimes. The scandal was failure to enforce the law. Yet Leveson baldly dismisses these issues – asserting without evidence that “more rigorous application of the criminal law does not and will not provide the solution”. [...]
