OECD says worldwide slowdown setting in September 13, 2012 GDP GROWTH amongst the G20 group of major economies slowed in the second quarter, the OECD quarterly national accounts revealed yesterday. And the OECD’s composite leading indicators suggested continued slowdown in growth across the world, slipping slightly to 100.2, just above the long term average. The economies of G20 countries together grew 0.6 per cent [...]
Greece denies reports it will need a third bailout package September 13, 2012 GREECE’S finance minister yesterday denied a report citing the country’s representative to the IMF as saying Athens would need a third bailout package. The euro weakened against the dollar on the report, which was later also denied by the official quoted in the article and came as international inspectors are mulling handing over the next [...]
Call for trading ban September 13, 2012 EUROPEAN Central Bank policymaker Ewald Nowotny yesterday called for a regulatory ban on high-frequency trading, saying the technique of using computer algorithms to generate multiple high-speed trades had no practical value. A day after the European Commission proposed putting the ECB in charge of supervising Eurozone banks, Nowotny said it might be better to have [...]
Swiss keep franc cap September 13, 2012 THE Swiss National Bank said yesterday it was too early to change its policy on the strong franc despite signs of an easing of Europe’s debt crisis that drove it to impose a cap of 1.20 per euro on the safe-haven currency. The bank said it was sticking with the 1.20 cap while its forecasts [...]
Capco gets the green light for Earls Court plan September 13, 2012 CAPITAL & Counties (Capco) has been given the nod for its £8bn regeneration plans at Earls Court. Hammersmith & Fulham Council yesterday approved planning permission for the Sir Terry Farrell-designed scheme, which will see the Earls Court Exhibition Centre and several housing estates demolished. Capco intends to replace the estates with 7,500 new homes, around [...]
Boris Bikes for south London September 13, 2012 SOUTH and west London will benefit most from plans to add 2,400 extra bikes and 5,000 new docking stations to the Barclays Cycle Hire scheme by 2014. Transport for London yesterday said more than 200 locations in Wandsworth, Hammersmith & Fulham, Lambeth and Kensington & Chelsea have been picked for new stations. Residents will be [...]
UK’s priciest home for sale September 13, 2012 BRITAIN’S most expensive house on the market has no garden – but it is across the road from Hyde Park. The London mansion of the late Lebanese Prime Minister Rafiq Hariri has been quietly marketed to the wealthiest househunters in the world by a small team of runners for several months. The 60,000 square foot [...]
The pace quickens for London’s investment bankers September 13, 2012 Maybe it was the news that Tony Blair had intervened to reignite the City’s biggest takeover of the year. Maybe it’s just the natural gathering pace of autumn, when business tends to hot up. Or maybe it’s the raw fear of job losses or even the hope of a more stable Eurozone backdrop. Whatever the [...]
Regulators to probe oil price fixing claims September 13, 2012 OIL traders will face a probe from UK regulators over claims market prices are being manipulated to keep them artificially high, a government minister said yesterday. In an echo of the Libor fixing scandal, energy minister John Hayes said he would write to the Financial Services Authority to raise concerns that traders and speculators were [...]
IMA appoints four leading fund managers in shake up of board September 13, 2012 ANDREW Formica, head of Henderson Global Investors, is one of four new appointments to the board of the Investment Management Association (IMA), the industry trade body confirmed yesterday. He will be joined by Mark Zinkula, chief executive of Legal & General Investment Management, Hugh Mullan, UK managing director of Fidelity Worldwide Investment, and Andrew Laing, [...]
