UK retail sales fizzle out after spending falls November 5, 2012 SIGNS of improved spending on the high street have proved to be something of a damp squib after retail sales in October slowed to their lowest growth in 11 months. Following strong sales the previous month, like-for-like retail sales fell 0.1 per cent in October compared with the same time last year, the British Retail [...]
Economist says Dow would soar on Romney win November 5, 2012 A VICTORY for Republican candidate Mitt Romney in today’s US Presidential election could cause the Dow Jones to jump by a huge 500 points, it was suggested this morning. Analysts and investors are expecting incumbent Democrat Barack Obama to retain the top seat in the White House, with such an outcome believed to be priced [...]
Slowdown for growth in US service sector November 5, 2012 THE PACE of expansion in the US services sector slowed in October, figures revealed yesterday, depriving President Barack Obama of a timely boost to his campaign for re-election. The Institute of Supply Management (ISM) non-manufacturing report’s headline index came in at 54.2 last month compared to 55.1 in September, disappointing economists. With any reading above [...]
Top banks call for earlier start for ring-fence November 5, 2012 THE QUICKER politicians finalise and introduce new regulations, the quicker banks will be able to implement them and move on with stabilising the industry, the chairman of HSBC and chief executive of Barclays said yesterday. The Financial Services Bill is currently going through parliament, covering areas including the ring-fencing of retail and investment banking operations, [...]
Nothing reassuring in HSBC’s tale of the unexpected November 5, 2012 STUART Gulliver tried to reassure the market yesterday in his third quarter message accompanying HSBC’s interim management statement. He ended with an upbeat take on China, “where we continue to expect a soft landing”. That would be more reassuring if it wasn’t coming from a bank that was admitting at the same time how offbeam [...]
G20 accused of failing to fully monitor most important banks November 5, 2012 THE WORLD’S biggest banks are not being properly supervised, a global regulator claimed last night, arguing authorities need to step up efforts to monitor risk and manage capital levels. The Financial Stability Board’s (FSB) update into regulatory progress found that national regulators often lack the resources to maintain a sufficient degree of scrutiny. And the [...]
Boris Johnson faces legal threat to London Living Wage campaign November 5, 2012 MAYOR Boris Johnson yesterday announced that the London Living Wage – the amount required to meet basic living costs – has increased from £8.30 to £8.55 per hour, substantially higher than the national minimum wage of £6.19 per hour. But his call for all local authorities to pay the higher sum could be illegal, according to [...]
Do you think the result of the us presidential election will affect the UK? November 5, 2012 JOHN WILLIAMS ISG Yes I do. Whichever way they take the United States economy – and there’s two quite diverse opinions with the two candidates – then directly, rather than indirectly it will affect the way the UK recovery will be required to go. Their policy will drive how we recover – we have to respond [...]
UK corporate borrowing hits five-year high November 5, 2012 UK FIRMS are borrowing more money from investors than at any other time since the financial crisis, a study out yesterday showed, as companies increasingly turn to the bond markets to access credit. UK corporate debt issuances have soared to $85.2bn (£53.4bn) so far this year, a record high and a 70 per cent increase [...]
Ethical asset funds see highest drop in retail sales on record November 5, 2012 ETHICAL investment funds saw the highest outflow of money on record last quarter amid slower retail fund sales, figures out yesterday reveal. Ethical funds, which account for around 1.2 per cent of investment funds, saw a £33m outflow in net retail sales in the third quarter, according to statistics from the Investment Management Association (IMA), [...]
