Profitability in services is three times higher than in factories January 9, 2013 THE PROFITABILITY of companies in the UK’s service sector has jumped to over three and a half times the level of their peers in the manufacturing sector, official figures revealed yesterday. The net rate of return for service firms jumped to 16.9 per cent in the third quarter of last year, the Office for National Statistics [...]
UK trade deficit narrows by less than expected January 9, 2013 BRITAIN’S trade deficit narrowed less than expected in the penultimate month of last year, according to data released yesterday. The figures, published by the Office for National Statistics (ONS), also showed a trend of UK companies’ exports heading beyond Europe’s borders. “In volume terms exports of goods to the EU were 3.7 per cent lower [...]
Drop in energy prices drives dip in inflation for OECD members January 9, 2013 INFLATION in the world’s more economically developed countries slowed down towards the end of 2012, the Organisation for Economic Cooperation and Development (OECD) announced yesterday. In November 2012, consumer prices rose by just 1.9 per cent versus the same month a year earlier. This compares to a 2.2 per cent rise in the prior month [...]
Cycle to Paris? Scope throws down gauntlet January 9, 2013 DISABILITY charity Scope has challenged our City Boris Bikers to step their game up a notch, and take part in a London to Paris cycle ride. The charity is organising the 24 hour ride as part of a wider fundraising campaign in which participants are encouraged to try and fulfil an ambition in just one [...]
Sir Bobby Charlton chats to insurers at Lloyd’s of London January 9, 2013 FORMER England and Manchester United footballer Sir Bobby Charlton was spotted in the City this week. The football legend was at the Lloyd’s of London building to announce the launch of a £1m research fund for global landmine charity Find a Better Way. Charlton set up the charity after a visit to Cambodia, with the [...]
Surveyors look to construction rally over 2013 January 9, 2013 SURVEYORS believe the construction market will turn a corner in 2013, bucking the gloomy trend of the past few years, according to a survey out this morning. Some 15 percentage points more surveyors said they expected workloads to rise over the next 12 months than said they would fall, according to research from the Royal Institute [...]
Accountants’ profits threatened by fierce competition over fees January 9, 2013 VIBRANT competition is the top threat to profitability in accountancy, according to a poll seen by City A.M. Out of all potential risks to their profitability, intense competition on accounting fees was cited as the top peril for earnings by 29 per cent of accountants surveyed by Bloomsbury Professional. This put it ahead of pressure from [...]
Annuities hit by record fall January 9, 2013 ANNUITY incomes suffered their biggest fall in 14 years during 2012, according to data from Moneyfacts. The average annuity crashed 11.5 per cent during 2012, the data showed, the biggest fall since 1998, when annuities collapsed 13.7 per cent. Fall after fall throughout the intervening 14 years means the average annuity income is now around [...]
Bank forecast to hold rates January 9, 2013 THE BANK of England will resist calls to boost the monetary base even further with more quantitative easing (QE) in January, analysts predicted yesterday. “Most monetary policy committee (MPC) members seemingly believe there is not a compelling case for more QE, given recent inflation risks and signs the Funding for Lending Scheme may be starting to [...]
City A.M. | Our MPC votes 7-2 against new policy January 9, 2013 ALLISTER HEATH | CITY A.M. “No change – there is enough money in the economy, and liquidity measures are increasing. The recent dip in sterling will merely import more inflation into the UK, won’t bolster exports and mustn’t be helped along by even loser monetary policy. The economy is stagnating but ultra-loose money is part [...]
