Arm loses non-exec to Samsung October 11, 2012 Cambridge-based chipmaker Arm Holdings said yesterday one of its non-executive directors is leaving the firm at the end of the year to focus on an executive role at electronics giant Samsung. Young Sohn, a veteran of Silicon Valley and the former chief executive of US semiconductor group Inphi, has sat on Arm’s board since 2007. [...]
Olympics puts off visitors but boosts income October 11, 2012 VISITS to the UK slipped in August, data from the Office for National Statistics (ONS) confirmed yesterday, although tourists spent considerably more than usual. Overseas residents made 3m visits to the UK in August, the data showed, five per cent down on the same month last year. However, even on the reduced number of visits earnings grew some nine per cent, [...]
New US jobless claims hit lowest weekly level in over four years October 11, 2012 NEW US unemployment claims plummeted to a four and a half year low last week, data from the Bureau of Labor Statistics revealed yesterday. Seasonally-adjusted new claims dropped 30,000 in just a week, from 369,000 to 339,000 – putting them 63,000 lower than a year ago. The fall on the headline number came from a much smaller [...]
Housing market gloom returns as transactions and prices drop October 11, 2012 THE HOUSING market stalled in September, with slipping prices and collapsing numbers of sales, data revealed today. Transactions dived 24 per cent into September, according to statistics from LSL Property Services, while the average house price edged down 0.1 per cent to £225,374. “A combination of dipping house prices and falling sales numbers point to [...]
Consumers in Japan reveal August gloom October 11, 2012 CONSUMER confidence dropped in September, data from Japan’s Cabinet Office revealed yesterday. Seasonally-adjusted consumer confidence drifted down from 40.5 in August to 40.1 in September, driven by a fall from 38.7 to 37.7 in the employment sub-index. Separate data released yesterday by the Cabinet Office also revealed a 12.6 per cent monthly crash in machinery orders [...]
Surveyors say commercial rents will slip further in third quarter October 11, 2012 A LACK of demand in commercial property will bring rents further down, according to survey data released by the Royal Institution of Chartered Surveyors (RICS) today. Eleven percentage points more of those surveyed expected rents to fall over the next quarter, than thought rents would rise – but this was the most optimistic result since the second quarter last [...]
Esurv says Funding for Lending is not yet boosting mortgages October 11, 2012 MORTGAGE lending dived in September, data from Esurv showed today, implying the Funding for Lending Scheme (FLS) has failed to boost loans so far. Home loans slumped seven per cent in September, the surveyor said, to just 47,603, the third worst September since records began 19 years ago. As well as slipping in number, loans [...]
City Moves | Who’s switching Jobs October 11, 2012 Reech AiM Group The international asset management group has appointed Daniel Betts as client services director. He joins Reech from Aviva Investors, where he was most recently client relationship manager. He will oversee all client service functions and will report directly to the chief executive officer Christophe Reech. Scottish Widows Investment Partnership Neil Tong has [...]
Best of the Brokers October 11, 2012 JD SPORTS Seymour Pierce upgraded its rating for the sports retailer from “hold” to “buy,” a and rose its target price from 800p to 1000p. The broker made the change in light of its acquisition of Blacks and JJB’s passing into administration, as well as Sports Direct’s plans to develop in e-commerce. The progress is [...]
FTSE breaks its losing streak as US jobless data provides some cheer October 11, 2012 BRITAIN’S top shares snapped a three session losing streak yesterday, led higher by gains in commodity and financial stocks as a fall in US jobless claims fuelled recovery hopes. The weekly claims figure was the lowest for four years and complemented last week’s fall in US unemployment, providing another piece of evidence that the economy [...]
