Inflation on the way up again as energy bills and tuition fees strike November 11, 2012 INFLATION will be back in the spotlight tomorrow when official figures are released, followed by the Bank of England’s quarterly Inflation Report on Wednesday. While the Consumer Price Index (CPI) fell to 2.2 per cent in September, it is expected to increase again due to rising tuition and energy bills. “We expect the CPI to [...]
Wall Street sell off likely over market worries November 11, 2012 WALL Street’s post-election sell-off may pick up speed in the coming weeks as worries mount about the looming fiscal cliff and technical weakness suggests a possible correction ahead. The benchmark Standard & Poor’s 500 closed below its 200-day moving average – a measure of the market’s long-term trend – on Thursday for the first time [...]
City Moves | Who’s switching jobs November 11, 2012 Old Burlington Investments Lawrence Hannah has been appointed business development manager at the investment firm. He joins from Caerus Wealth Management, where he was responsible for building its alternative tax products business. Hannah has also worked at Merrill Lynch. NYSE Euronext Demetria O’Sullivan has been appointed chief risk officer at the exchange’s new derivatives clearing [...]
Best of the Brokers November 11, 2012 CINEWORLD Numis ups the cinema group’s target to 275p from 260p ahead of tomorrow’s Q3 results, saying the latest Bond and upcoming Twilight and Hobbit pictures will bump up sales. “Add” PRUDENTIAL Panmure Gordon is predicting a 19 per cent rise in turnover when the insurer reports interim results on Wednesday. The bank is retaining [...]
Bill Clinton’s affordable housing ideology caused sub-prime crisis November 11, 2012 MANHATTAN’S US Attorney is wrongly suing Bank of America for mortgage fraud against Fannie Mae and Freddie Mac, the American mortgage giants. The complaint asserts that Bank of America, and its predecessor Countrywide, implemented a loan origination process called “Hustle” – designed to process loans at high speed and without quality check points. Strangely, Fannie [...]
The new lord mayor’s message: Social and financial returns go hand in hand November 11, 2012 IN THE 35 years since I first started working in the Square Mile, I have seen many things change. But one constant over this period is that the success of our financial services industry continues to be dependent on the concept of service. In other words, the City must serve society rather than the other [...]
Embracing failure is key to reviving Western growth November 11, 2012 IN AMERICA, a new parenting book is causing a stir. The author Paul Tough argues that an overly hands-on approach can harm a child’s development. Instead, parents should be more laissez-faire. They should give children the chance to fail in order to encourage the development of qualities like grit and optimism. Perhaps this is a [...]
Will the City of London struggle to retain its position as the world’s financial centre? November 11, 2012 YES Rob Harbron Financial services in the City of London will remain under increasing pressure over the coming years. As the UK economy recovers and global expansion begins to gather pace again, output in the financial sector will eventually regain its pre-financial crisis peak. However, growth in the City is unlikely to ever reach the [...]
Rapid responses November 11, 2012 Canterbury calling [Re: End of quantitative easing will stop mad monetary recycling, Friday] It’s not a new development that a religious leader is worrying about sin in business. Did Jesus not throw the moneylenders out of the Temple? Yes, stockbrokers don’t tend to wear hair shirts and traders don’t tend to spend their mornings in [...]
A furniture retailer who rejects the high street November 11, 2012 I MEET Ning Li at Made.com’s new showroom in Notting Hill. I’m assured it’s not the online company’s first step towards being just another high street furniture retailer, but a new way to “engage with customers”. Indeed, Li believes Made.com’s success hinges on its deliberate avoidance of the high street for exclusively online retailing. Growing [...]
