House prices dampened by the election May 31, 2010 UNCERTAINTY over the outcome of the general election put a dampener on house prices in May. May’s monthly house price growth held steady at April’s three-month low of 0.2 per cent, property data company Hometrack said yesterday. Increases in sales, new buyers and new properties were all the weakest since January, when unusually icy weather [...]
UK faces double-dip, says BCC May 31, 2010 BRITAIN faces the risk of a double-dip recession and the government should hold off making big spending cuts until the recovery is assured, according to the British Chambers of Commerce. In its latest economic forecast published at the weekend, the business lobby group revised up its projection for growth this year to 1.3 per cent [...]
Surge in foreign bids for British firms, finds study May 31, 2010 OVER half of all UK-listed companies subject to takeover bids in the last quarter were targeted by foreign firms, a study has shown. Around 53 per cent of offers came from overseas companies, nearly double the 27 per cent seen in the first quarter of 2008, according to research by City law firm Wedlake Bell. [...]
Pension fund deficits fell last month May 31, 2010 PENSION funds weathered the recent falls in equity markets to significantly reduce their deficits last month, though shortfalls remain at worrying levels. The total deficit for the largest 200 private pension schemes dropped by £13.5bn last month, the biggest improvement since June 2009, according to human capital and risk management firm Aon Consulting. The total [...]
Asia and Latin America boost growth in world trade but Eurozone dragging May 31, 2010 GLOBAL trade volumes in the first three months of this year were 5.3 per cent higher than in the previous quarter, representing slightly slower growth than in recent months but still a healthy rebound from the crisis, according to the Dutch CPB institute. The CPB, whose data are used by the European Commission and World [...]
Green spending to double in Europe within five years May 31, 2010 SALES of environmentally friendly products are set to double in Europe by 2015, but will still only account for five per cent of total retail sales, with shoppers deterred by higher prices, a study said yesterday. The Centre for Retail Research (CRR) and Kelkoo forecast the price premium on “green” products would shrink from 46 [...]
POSITIVE FEEDBACK May 31, 2010 FORMER eBay chief executive Meg Whitman recovered a wide lead over her rival for the Republican nomination in California’s governor race, a poll showed yesterday. With less than two weeks before the 8 June primary, Whitman led state Insurance Commissioner Steve Poizner by 53 per cent to 29 per cent, according to a poll organised [...]
The grocer who says this year will test retailers as well as shoppers May 31, 2010 Much like the rest of the country, the chief executive of the country’s third largest supermarket group is trying to make up his mind about the coalition government. At the start of the election campaign Sainsbury’s boss Justin King was one of many who backed Tory plans to scrap national insurance hikes for employers, a [...]
IHG eyes Asia as business trips return May 31, 2010 BUSINESS travel is making a welcome comeback for the hotels sector while an Asian boom is transforming the business, according to InterContinental Hotels Group finance director Richard Solomons. The executive, speaking to City A.M. at the company’s flagship Park Lane hotel, is ebullient about the prospects for the company which has pumped millions into overhauling [...]
CBI: caution hits service sector firms May 31, 2010 SERVICE sector firms saw their profits and sales tumble during the first three months of the year, according to a quarterly survey from the CBI published today. In a further disappointment for the sector, which has struggled to recover after the recession, the survey shows that firms selling services to consumers saw their volumes of [...]
