Interest rates kept at record 0.5pc low June 10, 2010 THE Bank of England stuck to its policy of ultra-loose interest rates yesterday when it held the cost of borrowing at 0.5 per cent and kept the stock of asset purchases at £200bn. The 0.5 per cent rate has now been in place for 14 months – the longest streak of unchanged rates since the [...]
US jobless claims fall, but trade deficit widens as exports drop June 10, 2010 THE number of US workers filing claims for jobless aid fell modestly last week as the labour market recovery struggled for momentum, while a slip in exports in April supported views of moderate economic growth. The reports yesterday were the latest in a series hinting the economic recovery was losing some steam but remained intact [...]
New boy Hape is inspired by Robbo June 10, 2010 RUGBY League convert Shontayne Hape says he will be looking to Jason Robinson for inspiration when he makes his Test debut for England in tomorrow’s Cook Cup clash with Australia in Perth. The former New Zealand international becomes the third ex-Kiwi to play Test rugby for England, although his two predecessors, Henry Paul and Lesley [...]
FSA’S SANTS MAKES LAST STAND FOR REGULATOR June 10, 2010 THERE’S nothing like going out fighting, is there? Yesterday marked the publication of FSA chief executive Hector Sants’ (right) last annual report at the helm of the regulator, which is under siege from politicians currently mulling whether or not it will have a future. Sants has never exactly made a secret of his feelings towards [...]
UNEMPLOYMENT COULD HIT 3M AFTER CAMERON’S CUTS June 10, 2010 UK unemployment could rise close to 3m this year if the government pushes ahead with sweeping cuts in public spending, suggests the latest report from the Chartered Institute of Personnel and Development. Its new forecast is more than 10 per cent higher than its previous estimate of 2.65m, with no significant reduction until 2015.
Global wealth rises but fund houses suffer June 10, 2010 THE combined wealth of households around the world rose 12 per cent last year and nearly surpassed the 2007 high-water mark, yet money managers faced lower revenue and shrinking profit margins, according to an industry study released yesterday. Global assets under management rose to $111.5 trillion (£75.9 trillion), just short of the 2007 year-end peak, [...]
CITY EYE June 10, 2010 OVER 2,700 eager fun runners packed the streets of the City yesterday for the annual 6km Crisis Square Mile Run, raising money for the homeless charity. This year, the men’s race was run by Paul Maretelleti in 22 minutes 59 secs and the ladies’ race by Crisis volunteer Ros Ponder in 28 minutes 10 seconds. [...]
Jon Moulton’s Better Capital will raise £67m in LSE listing June 10, 2010 JON Moulton’s Better Capital will raise £67m as it steps up to the main London Stock Exchange market, just six months after listing on Aim. The group hopes to attract more investors attracted by the stricter regulatory stipulations in place for main market-listed firms. It will issue 64.3m new shares at 105p each – a [...]
Indian duo mull Brewin Dolphin as takeover target June 10, 2010 STOCKBROKER Brewin Dolphin yesterday found itself the subject of intense speculation around a potential takeover offer from Indian billionaires the Hinduja Brothers. The Hinduja Group refused to comment on the rumours, though it is known to have cash at hand for acquisitions in Europe. Just last month, the group agreed a €1.35bn (£1.11bn) deal to [...]
Halfords eyes new deals as profit surges June 10, 2010 HALFORDS is plotting more acquisitions with a hit list of up to a dozen targets. The bicycle and car parts company said it was hungry for expansion as it posted a 27 per cent jump in its annual profit yesterday. Halfords, which in February bought car servicing firm Nationwide Autocentres for £73m, made a pre-tax [...]
