Banks’ savings account tactics in the spotlight September 9, 2013 BONUS interest rates on savings accounts could be scrapped or face extra rules under a review launched yesterday by City watchdog the Financial Conduct Authority (FCA). Top regulator Martin Wheatley said he is studying competition in the trillion-pound cash savings market to see if customers are getting a fair deal. At the start of the [...]
Recruiters point to strongest fourth quarter since the crash September 9, 2013 EMPLOYERS are set to take on more staff in the fourth quarter, with one recruiting group foreseeing the best end to any year since before the financial crisis. According to research published yesterday by Manpower, 2013 is likely to have the strongest fourth quarter for hiring since 2007, as the budding economic recovery begins to [...]
Euro investors see confidence return as long recession ends September 9, 2013 INVESTORS’ confidence in the euro area surged upward in August, as a major index of sentiment heads back into positive territory for the first time in two years. The Sentix index rose to 6.5, the highest level since the European Central Bank’s ill-fated decision to raise interest rates in 2011, and the second largest single-month [...]
Abe’s tax hike plan helped by strong growth September 9, 2013 ROBUST growth for Japan between April and June has been revised further, up from 0.6 per cent to 0.9 per cent, following the country’s programme of radical monetary easing. Coming swiftly after the announcement that Tokyo will host the summer Olympic games in 2020, the Nikkei index reacted well yesterday, rising by 2.48 per cent [...]
Apollo Global beats bidders to the punch to land Evo Banco September 9, 2013 US PRIVATE equity group Apollo Global Management has beaten a host of bidders in the race to land Spanish lender Evo Banco after snapping up the firm for €60m (£50.6m) yesterday. A handful of bidders, including UK financial services group Anacap and US firm Centerbridge, are thought to have been in the race to buy [...]
Hopes that Chinese economy is stabilising as inflation steadies September 9, 2013 MUTED inflation data yesterday added to a run of August figures suggesting the protracted slowdown in China’s economy may be bottoming out, helped by targeted support measures and signs of improved export demand. A steady consumer inflation rate also gives the People’s Bank of China some room to manoeuvre in response to any shock that [...]
Hoteliers regain confidence and plan rates hike September 9, 2013 MORE than half of UK hotel owners plan to increase their room rates in 2014 as businesses regain confidence, with over a third optimistic about profits next year, according to new data released today. A survey of 19,000 travellers and 10,000 accommodation owners by researcher Edelman Berland for travel website Trip Advisor found that 30 [...]
New world trade chief lowers global forecast to 2.5 per cent September 9, 2013 WORLD trade is expected to grow by 2.5 per cent this year and 4.5 per cent in 2014, the World Trade Organisation’s new chief, Roberto Azevedo, said yesterday, revising down previous estimates of 3.3 per cent and five per cent. In his first press conference since taking the helm on 1 September, Azevedo said the [...]
Lloyd’s chief says insurance is set for boom September 9, 2013 THE COMMERCIAL insurance industry is set to triple in size by 2025 as the business benefits from growth in the developing world, the chairman of Lloyd’s of London said yesterday, John Nelson told an audience in Monte Carlo that global demand for business insurance will increase from $600bn (£382bn) to $2 trillion a year over [...]
Williams F1 performs better off track than on as turnover grows September 9, 2013 FORMER champions Williams performed better off track than on in the first six months of the year with results to the end of June showing turnover of £43.5m for their Formula One business. The figure compared to £43.4m in the same period of 2012. Overall turnover for the Williams group of companies for the half [...]
