China trade jump reveals solid exit from downturn February 10, 2010 Imports to China surged by a massive 85 per cent in January, and the trade surplus fell to $14.17bn (£9.4bn), down from $18.43bn in December. Exports continued to grow by 20 per cent, exceeding analyst expectations. A favourable comparison to last year helped to boost imports in January, but overall, the trade data released yesterday [...]
Pantheon is sold to US rival AMG in £500m deal February 10, 2010 Affiliated Managers Group yesterday said it plans to buy British private equity group Pantheon Ventures, in the US money manager holding company’s fifth acquisition in seven months. AMG, which has been pushing hard into alternative assets like hedge funds and into foreign markets in the last years, also said it has millions on hand to [...]
US stocks dip after Bernanke strategy February 10, 2010 US stocks dipped yesterday as worries over Federal Reserve Chairman Ben Bernanke’s strategy after the economy recovers offset optimism about a possible rescue for debt-burdened Greece. Trading volume was light, with many participants leaving early because of an East Coast snowstorm. The French daily Le Monde wrote that France and Germany were set to present [...]
Greek workers strike as talks on debt crisis begin February 10, 2010 Thousands of Greek civil servants staged a 24-hour strike shutting schools and grounding flights yesterday, but a protest march was poorly attended, offering some hope Athens can tackle a debt crisis shaking the eurozone. Today’s meeting among the EU’s 27 leaders, economic advisers, the central bank chief and other senior EU officials is expected to [...]
ETFs are ideal for commercial property plays February 10, 2010 ONE of the biggest casualties of the financial crisis was the commercial property sector – capital values slumped 45 per cent in the UK, according to the Investment Property Databank (IPD). The recession also saw occupier demand contract, which drove up vacancy rates and forced down rents. But since the summer, we have seen an [...]
Bank: Bumpy UK recovery February 10, 2010 BRITAIN’S path to recovery will be much slower than previously predicted and inflation will fall further below target over the next few years, the Bank of England said yesterday as it unveiled its new growth and inflation forecasts as part of the quarterly Inflation Report. The Bank said the pace of growth was weaker than [...]
Strong manufacturing data boosts hopes of GDP revision February 10, 2010 BRITISH manufacturing output surged an impressive 0.9 per cent in December, strengthening hopes that the dismal fourth quarter GDP data would be revised upwards. The strong industrial and manufacturing data vindicated survey evidence, which has suggested that the recovery was stronger in the second half of 2009 than official data showed. The Office for National [...]
Larger than expected US trade deficit sparks fears over growth February 10, 2010 A BIG jump in oil imports swelled the US December trade deficit to $40.2bn (£25.8bn), an unexpected widening that suggested US economic growth was not as strong as initially thought in the fourth quarter. The Commerce Department’s report published yesterday, showing a 10.4 per cent jump in the trade gap, came as both US exports [...]
Bernanke’s brakes on bonds good for stocks February 10, 2010 THE snow forced Federal Reserve chairman Ben Bernanke to submit a written testimony to Washington’s legislators yesterday rather than go to Capital Hill in person, but the message the Fed governor delivered was the same regardless of the weather: he plans to withdraw support from the financial markets at some point soon. Bernanke outlined a [...]
Astaire buys up Hoodless February 10, 2010 ASTAIRE, the rapidly-expanding City stockbroker headed by small-cap broking veteran Edward Vandyk, yesterday announced its fourth acquisition in just 12 months, buying up Hoodless Brennan for £3.6m. Vandyk said Hoodless was an attractive fit for Astaire because both firms operate stockbroking businesses in London and Bristol, while Hoodless is strong in market-making, an area in [...]
