UK inflation expectations at 2008 levels September 16, 2010 UK INFLATION expectations have risen to their highest level in two years, according to the Bank of England. Its quarterly inflation expectations report showed public expectation of inflation rose to 3.4 per cent last month compared to 3.3 per cent when the last survey was carried out in May. Less people in August believed interest [...]
France, Spain raise €12bn in debt sale September 16, 2010 France and Spain yesterday sold over €12bn (£10bn) of debt yesterday, clearing a final hurdle in a big week of bond issuance in the Eurozone with issues meeting strong demand. France sold €8.47bn of debt with demand seen at the top end of the range, with the average yield falling across all three issues made [...]
PotashCorp mulls Chinese consortium bid to rival BHP September 16, 2010 CANADA’S PotashCorp has approached a number of parties in China over putting together a consortium to counter miner BHP Billiton’s $39bn (£25bn) hostile takeover bid. PotashCorp, which has made no secret of its attempts to woo white knight bidders since it rejected BHP’s approach last month, is understood to have considered combining a large capital [...]
Heads of City fund industry warn of threat from immigration curb September 16, 2010 The UK’s strong position in the global fund management industry could be hit by government plans to curb immigration as well as higher tax and competition from rival financial centres, top industry executives warned yesterday. Talented traders could exit Britain – which is home to some £4 trillion in assets, making it the dominant centre [...]
Boeing cheers subsidy ruling September 16, 2010 BOEING chief executive Jim McNerney yesterday said he was heartened by a World Trade Organisation (WTO) ruling on aircraft subsidies, saying it appeared the findings against his company were not as severe as those against Europe. A Geneva trade panel issued a confidential interim report on Wednesday in a case brought by the European Union [...]
SON OF ROUTEMASTER September 16, 2010 A NEW generation of Routemasters – known as “Son of Routemaster” is wheeling ahead, with the new version (pictured in a computer version) likely to be tested next Spring, and the first five prototypes due to arrive in London in 2012. Some critics have claimed the “hop-on, hop-off” hybrid vehicles, which were a key mayoral [...]
British universities falling out of favour, says top-rated survey September 16, 2010 BRITISH universities are falling out of favour, with only five UK institutions ranked in the world’s top 50. According to The Times Higher Education Magazine’s table, which is based on criteria including research, and teaching, Harvard is the world’s leading university. The survey concludes that the US accounts for 72 of the world’s 200 best [...]
BMW predicts strong sales will power its third quarter results September 16, 2010 STRONG unit sales will power BMW’s third-quarter results, the world’s biggest premium carmaker said yesterday, adding that a seasonal slowdown it had expected was not as strong as it had forecast. “We expect our sales performance to drive our results in the third quarter,” chief financial officer Friedrich Eichiner said in the text of a [...]
BoE could be too powerful, warns Tyrie September 16, 2010 THE government’s decision to give sweeping new powers to the Bank of England (BoE) could create an “overmighty” institution with conflicting monetary and financial stability aims, according to the head of an influential parliamentary committee. Andrew Tyrie, who became the Treasury Select Committee’s first elected chairman in June, said the previous regulatory structure – which [...]
Chote promises fiscal forecaster will be independent after Budd controversy September 16, 2010 ROBERT Chote, the new chair of the Office for Budget Responsibility (OBR), yesterday said he would not rush out data to provide political ammunition for the government, in a thinly-veiled criticism of his predecessor Sir Alan Budd. Chote insisted that the OBR would be “transparent and predictable” in the future, adding “that means predictability about [...]
