Global gloom predicted to roll on October 22, 2012 ■ The world is set to suffer another year of sluggish growth, according to Capital Economics’ latest economic outlook, released yesterday. The worst of the Eurozone crisis is yet to come, Capital said, with its economy set to shrink by 2.5 per cent next year and a further one per cent in 2014. Japan is [...]
House prices declined since July October 22, 2012 ■ House prices have fallen this month compared to their value three months ago, the property website Zoopla said yesterday. Its data shows prices rising by a sub-inflation level of 1.5 per cent compared to October 2011, and lower compared to July 2012. Nationwide, the market has been “relatively flat”, said Zoopla’s Lawrence Hall, adding: [...]
Who’s switching jobs October 22, 2012 Baird Jonathan Bourn has been appointed managing director in Baird’s European investment banking team. He was previously a partner at AAC Capital. Bourn has also held roles in Credit Suisse First Boston’s acquisition and leveraged finance group. Allianz Global Corporate and Specialty The insurance firm has appointed Elke Vagenende as head of product development, financial [...]
Best of the Brokers October 22, 2012 GO-AHEAD Shore Capital has upgraded the transport group from “sell” to “hold” after an investor day where the firm laid out plans to target £100m in profit from its UK bus business by 2015-16. AGGREKO Following last week’s profit warning, Panmure Gordon has downgraded 2012 and 2013 forecasts, but kept its “hold” rating on the temporary [...]
US flat as macro fears offset by strong earnings October 22, 2012 THE Dow industrials and the S&P 500 ended flat yesterday after a late-day bounce, as worries about slower global growth hitting corporate sales were offset by earnings that beat expectations. Technology shares led the day’s gains and pushed the Nasdaq up 0.4 per cent, as shares of Apple jumped four per cent to $634.03. Apple [...]
FTSE loses ground as investors fear weak third quarter earnings data October 22, 2012 BRITAIN’S top share index lost ground yesterday, extending declines on concerns about upcoming third quarter earnings. Drugmakers dipped, with Shire down 1.8 per cent and AstraZeneca off 0.5 per cent. The firms kick off the heavyweight sector’s results season tomorrow. According to Thomson Reuters Starmine data, of the eight per cent of European companies that [...]
Why investors should take a stake in high-growth UK tech companies October 22, 2012 THE campaign to reawaken the London tech initial public offering (IPO) market has kicked off. Recent announcements from Downing Street and the London Stock Exchange should result in some small but important regulatory changes. They are important steps towards making London a major hub for tech IPOs. But regulation is not the only barrier to [...]
We must stand up for academic freedom against government restrictions October 22, 2012 WHEN academics extol “free wheeling” research, they risk being accused of an ivory tower arrogance that disregards their obligations to the public. But they should strongly counter such allegations. Choices of research project are anything but frivolous: what is at stake is a big chunk of our lives, and our professional reputation. The traditional compact [...]
A worm could turn the close fight for the US presidency October 22, 2012 LAST night, Barack Obama and Mitt Romney met for the third and final US presidential debate before November’s elections. The latest polls suggest the race is a lot closer than many expected – not least because Romney was judged to have won the first debate in Denver. Research on the psychology of elections underlines the [...]
As David Cameron outlines new justice plans, is he right to criticise current prison policies? October 22, 2012 YES Andrew Neilson If the Prime Minister wants prisons to work, the first question to ask is whether the right people are being sent there in the first place. The Ministry of Justice faces 6 per cent cuts year on year. And the agency running prisons and probation is forecast to spend £32m more than [...]
