Germany drives manufacturing up in Eurozone December 1, 2010 RECOVERY in the Eurozone continues to be driven by Germany and France, new figures revealed yesterday. Manufacturing growth showed a modest increase in November across the single currency area. The Purchasing Managers Index (PMI) for manufacturing rose to 55.3, up from 54.6 in October. French PMI hit its highest rate for a decade, shooting up [...]
House prices down 3.9 per cent on June December 1, 2010 HOUSE prices fell by another 0.3 per cent in November, mortgage-lender Nationwide announced yesterday. The news follows an even sharper drop in the previous month, as prices fell 0.7 per cent on September. Prices have either fallen or stagnated since June, according to Nationwide’s statistics. The average house price in the UK is now £163,398, [...]
279,000 business closures reported December 1, 2010 BUSINESS closures have hit their highest level for ten years, according to figures the Office of National Statistics (ONS) released yesterday. Closures were up 26 per cent in 2009, amounting to 279,000 companies winding up their operations. Research and development (R&D) was also down in 2009, by 4.1 per cent, the ONS announced. This week [...]
UK recovery on track, says Dale December 1, 2010 CUTS in government spending will not derail the British recovery, the Bank of England’s chief economist said last night. Spencer Dale insisted that current monetary policy should ensure that the recovery continues, even though some households directly affected by the cuts would suffer. Earlier in the week the Office for Budget Responsibility said that growth [...]
Investors look to new markets December 1, 2010 UK?retail investors have invested a record amount in emerging market funds, it was revealed yesterday. The Investment Management Association (IMA) showed net sales of £336m for October. “Appetite for global investing continues, with the global emerging markets sector reporting its highest sales on record in October,” said Richard Saunders, Chief Executive at the IMA. Total [...]
CITY PUBLIC AFFAIRS LANDSCAPE DUE FOR A SHAKE-UP AS TIM BURT LEAVES BRUNSWICK December 1, 2010 TIME for some fresh blood in City public affairs, it seems, with the founding of a brand new financial PR firm by Brunswick partner Tim Burt. Burt is set to launch Stockwell Group along with the former chief executive of Maitland Philip Gawith and Financial Dynamics co-founder Julian Hanson-Smith, both of whom will be on [...]
Commodities and banks help FTSE snap its losing streak December 1, 2010 BRITAIN’S leading share index staged its biggest one day really in three months yesterday, clawing back some of the losses made in the past three sessions, with commodities boosted by upbeat Chinese data and banks rallying after being hit by sovereign debt concern. The rally was also boosted by hopes the European Central Bank (ECB) [...]
Wall Street surges as euro panic eases December 1, 2010 THE Dow and the Standard & Poor’s (S&P) 500 posted their biggest gains in three months yesterday as efforts to resolve the European Union’s debt crisis helped push the S&P above 1,200, an important technical level that signals the potential for the rally to continue. The S&P 500 moved out of its recent trading range [...]
Lord Sugar gives apprentices his shopping list December 1, 2010 A HEAVENLY start to this week’s Apprentice. The final seven gathered on top of Tower 42 and as the morning light bathed Lord Sugar in an ethereal glow, a chorus of angels could be heard. Quite what this had to do with getting chicken feet on the cheap wasn’t clear. This was the wheeling and [...]
Dubai Holding extends £355m loan December 1, 2010 CONGLOMERATE Dubai Holding’s main unit has extended a $555m (£355m) loan due on 30 November by one month, reinforcing niggling doubts over Dubai’s ability to resolve its debt troubles. This was the third extension for Dubai Holding’s loss-making hospitality and property arm, Dubai Holding Commercial Operations Group (DHCOG). It previously delayed the loan in July [...]
