China says inflation top priority October 14, 2012 Controlling inflation is the number one priority for China’s central bank, deputy boss Yi Gang said yesterday. “[Controlling] inflation is our number one job – as a central [bank], we have to control inflation,” Gang told delegates to the annual IMF-World Bank meeting, in Tokyo, a blow to those hoping the central bank would take [...]
Westminster house prices soar October 14, 2012 Westminster housing is the most expensive in the UK per square metre, and prices there have nearly doubled over the last 10 years, data from Halifax revealed yesterday. Housing in Westminster costs £7,586 per metre squared, the data showed, up 81 per cent over the past 10 years. This made it more than twice as [...]
Meet the investment banker who gave insurance a whirl October 14, 2012 AFTER the chaos of last year, 2012 has so far been something of a relief to the insurance industry. A perfect storm of floods in Australia and Thailand, the Japanese tsunami and nuclear disaster and the earthquake in New Zealand made 2011 the second most expensive on record for the Lloyd’s of London market, and [...]
City Moves | Who’s switching jobs October 14, 2012 Royal Bank of Scotland John Shelley has joined RBS as chief risk officer, Asia Pacific, for all RBS businesses in the region. Shelley began his banking career with NatWest and RBS in the UK, and he has previously worked for Coutts Private Banking in Asia and has since held a number of senior roles with [...]
Best of the Brokers October 14, 2012 RANK GROUP Panmure Gordon reiterates its “hold” recommendation but increased its target price from 145p to 160p after hopes were raised the gaming business could acquire Gala Casinos. ENI Canaccord Genuity retains its “sell” rating on the stock due to weaknesses in the business’s gas and power division. It has a sell target price of [...]
UK finances in spotlight with inflation data October 14, 2012 BRITAIN’S finances will be brought sharply into focus this week with details of the annual inflation rate, minutes of the October Monetary Policy Committee (MPC) and public finances data. On the corporate front, housebuilder Bellway is expected to extend the sector’s positive run tomorrow, with preliminary results. Today’s news includes a trading update from Fresnillo, [...]
Markets react with caution as US corporates hit by global downturn October 14, 2012 CENTRAL bank-fuelled gains took markets within reach of five-year highs in September, but US stock market participants are shifting their focus back to corporate outlooks, and the picture is not pretty. Early earnings reports have underlined those concerns, which may be exacerbated when dozens of major companies – including Dow components General Electric, Microsoft and [...]
Incentives must be the foundation of a revolution in British education October 14, 2012 WITH aims including far more school choice for pupils from all backgrounds, and raising standards in state schools through competition, the goals of the 2010 Academies Act were bold. Autonomous groups would set up free schools, which in turn would revolutionise the education system. But current policy betrays such a revolution. Only comprehensive reforms, designed [...]
Global reform of financial regulation must not choke off economic growth October 14, 2012 GROWTH forecasts were slashed by the IMF last week in the latest sign that severe headwinds are pushing the global economy closer to a stall. The Eurozone crisis, the so-called US “fiscal cliff” and the slowing pace of development in the Brics all pose considerable threats if mishandled by policymakers. It is positive, therefore, that [...]
The EU should not have received the Nobel Peace Prize October 14, 2012 THE Nobel Peace Prize selection this year really does take some beating. We have seen some pretty strident criticism, and good comedy, emerging from its decision to award the trophy to the European Union (EU). Thorbjorn Jagland, the head of the selection committee, was already on record before the announcement as saying: “I expect that [...]
