Bean unlikely to back a rate hike March 3, 2011 Inflation “may prove a little more persistent” than the Bank of England’s forecasts currently show, its deputy governor Charles Bean admitted yesterday. However, in a dovish speech, Bean gave little indication that he would vote for a rise in interest rates next week.
Bernanke: Save during boom eras March 3, 2011 Governments must stop overspending during upturns in the business cycle, Federal Reserve chairman Ben Bernanke said yesterday. “Building an adequate reserve fund during good times may not be politically popular, but doing so can pay off during bad times,” he said. Meanwhile, his Fed colleague Narayana Kocherlakota endorsed Bernanke’s accommodative monetary policy, arguing it was [...]
London property rent on the rise March 3, 2011 Rental prices in London rose again in January, the Royal Institution of Chartered Surveyors (RICS) said yesterday. Over two thirds more surveyors expect rents to rise, than fall, in the coming three months, RICS announced.
IP crucial for growth, says CBI March 3, 2011 Robust intellectual property systems are “critical” for the UK’s economic growth, the CBI argued yesterday. “IP should be considered one of our crown jewels,” said CBI chief John Cridland.
Margin focus boosts Taylor Wimpey profit March 3, 2011 HOUSEBUILDER Taylor Wimpey improved its operating margins to post an underlying annual profit ahead of expectations. Revenues remained flat for the construction firm at £2.6bn in the year to 31 December 2010, whilst the number of homes completed dropped to 14,272 from 15,166 a year earlier. An increase in average selling prices helped the builder [...]
US unit drives Balfour profits March 3, 2011 CONSTRUCTION firm Balfour Beatty saw its underlying pre-tax profits jump to £319m last year. The infrastructure and maintenance group increased profits in the year to 31 December 2010 by 20 per cent, beating market expectations. The strong improvement was bolstered by its acquisition of US firm Parsons Brinckerhoff two years ago. The consolidation of the [...]
The cost of a desk in the City hits £9,400 a year March 3, 2011 THE MOST expensive workplace in the world is now in Hong Kong, knocking London’s West End from the top spot, according to figures from DTZ out yesterday. The City of London has jumped to become the eighth most expensive location to run an office, with the cost per desk now £9,410 a year – a [...]
Individual Savings Accounts surge in popularity as interest rates stay low March 3, 2011 INDIVIDUAL Savings Accounts (ISAs) are still the most popular investment in the UK, remaining number one for the fourth consecutive year, according to the latest research into financial products. Two thirds of people have invested in a cash ISA over the past year, according to the annual investor confidence index by broker TD Waterhouse. Stocks [...]
CITY VIEWS: WOULD YOU CONSIDER INVESTING IN AN ISA? March 3, 2011 DAVID PERRY | PROPERTY MANAGER “On the whole ISAs are a good idea. Tax free savings accounts are a great way to encourage more people to save, so it’s definitely an option I’d like to consider in the future.” NIGEL YEATMAN | CB RICHARD ELLIS “ISAs are a great way to save money and invest [...]
ANALYST VIEWS: IS TAYLOR WIMPEY NOW WELL PLACED FOR THE FUTURE? March 3, 2011 KEITH BOWMAN | HARGREAVES LANSDOWN Taylor Wimpey appears to be firmly on the road to recovery. 2011 is expected to be a further year of progress, supported by ongoing cost cutting, while more recently acquired lower priced land should contribute to the recovery in the company’s profit margin. JOHN?MESSENGER | RBS The group is in [...]
