Spain’s Catalunya Caixa reforms February 15, 2011 Spanish savings bank Catalunya Caixa said late yesterday it has decided to restructure its banking activities to shore up its solvency and comply with Spanish and international rules. Catalunya Caixa, the group created by the merger of three savings banks from the Spanish region of Catalonia, said in a statement its board has agreed to [...]
LSE close hit by trading glitch February 15, 2011 The London Stock Exchange failed to stop trading yesterday as scheduled – one day after completing a major system upgrade – causing confusion among traders, who blamed a technical problem. The LSE, which ends normal trading at 16.30 GMT before starting its closing auction, conceded on its website that normal trading did not cease until [...]
Fiat to invest €500m in Italy February 15, 2011 Fiat SpA will invest around €500m (£418.2m) to relaunch its niche car producing plant known as ex-Bertone, as the Italian carmaker moves to boost productivity at its Italian operations. In a statement yesterday, Fiat said it will produce a new Maserati model at the site for sale on foreign markets.
IHG raises its dividend as hotels boom February 15, 2011 InterContinental Hotels, the world’s biggest hotelier, showed confidence in economic recovery by lifting its final dividend for the first time in three years and set a target for opening more hotels. The British group, home to the InterContinental, Crowne Plaza and Holiday Inn brands, met forecasts with a 22 per cent rise in 2010 profit, [...]
Land Rover sales boost Tata Motors February 15, 2011 DEMAND for luxury four-by-four cars is booming, according to sales figures from Jaguar Land Rover parent Tata Motors published yesterday. Global sales at Land Rover, where top-notch Range Rover models retail for up to £86,000, jumped 30 per cent in January compared with January 2009, to 17,321 cars. Jaguar sales climbed more slowly, rising three [...]
German snow dampens GDP for Eurozone February 15, 2011 GROWTH in the Eurozone was more sluggish than expected in the final three months of last year, reaching just 0.3 per cent, official data showed yesterday. The euro fell in early trading, dropping close to $1.346 (£0.84), as Germany reported fourth quarter growth of 0.4 per cent, below expectations. However, the currency recovered against the [...]
VAT hike and inflation see consumer morale tumble February 15, 2011 CONSUMER confidence fell to just six points above its all time low, according to a Nationwide index released today. After rising to 54 in December, the index dropped to 47 last month, weighed down by a collapse in spending confidence that was mainly caused by the VAT rise and inflation, Nationwide said. The survey’s spending [...]
House prices rise on the month yet slump expected February 15, 2011 HOUSE prices rose by 0.5 per cent in December compared with November, the Department for Communities and Local Government (DCLG) said yesterday. However, over the whole of the fourth quarter of 2010, prices fell by 0.4 per cent, compared to the previous three months. “The DCLG provides lagging evidence on house prices as the office [...]
FSB pushes for NI break to boost jobs February 15, 2011 JOB creation must be encouraged by a wider “holiday” from national insurance contributions, the Federation of Small Businesses (FSB) said yesterday. The coalition government has pledged a “national insurance holiday” for start up businesses that take on up to five staff. But the tax break should be extended to existing firms with up to four [...]
CITY VIEWS: IS INFLATION HITTING THE BANK OF ENGLAND’S CREDIBILITY? February 15, 2011 Save or Borrow peer to peer at RateSetter.com www.RateSetter.com Customer Phoneline: 08442490115 GRANT CLEMENCE| QBE INSURANCE “No, changing interest rates wouldn’t have any impact. It’s driven by commodity prices.” JAMES COOPER| LONDON METAL EXCHANGE “Yes, they’ve set these targets but aren’t being seen to do anything about it.” JOHN FILTNESS | RFIB “They are doing [...]
