Chinese Bank boss Xiaochuan says Yuan close to equilibrium November 11, 2012 THE CHINESE currency is priced roughly the same as it would be if traded completely freely, People’s Bank of China governor Zhou Xiaochuan said yesterday, hitting back at US critics who say the country is distorting trade patterns. Though Beijing still exerts a degree of control over the currency, it told Chinese magazine Caixin that [...]
Accountant’s poll shows UK economy well below trend November 11, 2012 THE UK’s economic output is still growing much slower than its trend rate, a poll of polls from financial services firm BDO showed today. BDO’s output index rose from 91.2 in September to 92.1 in October, but this remained below the trend level of 100. The situation for optimism was similar, with a rise of [...]
Employment to rise further November 11, 2012 THE EMPLOYMENT boom in the UK is set to continue through the rest of 2012, according to data out this morning. Employment will grow steadily through the rest of the year, the Chartered Institute of Personnel and Development (CIPD) said, based on a survey of employers. Overall, employment intentions improved to plus seven in the [...]
Firms call for procurement reform November 11, 2012 Businesses today called for more urgency in public procurement reform, in a survey from the Confederation of British Industry (CBI). Just seven per cent of respondents to a survey from the CBI said public procurement was done well in the UK. And though eight out of 10 firms liked the content of the government’s reforms, [...]
Manufacturers boost training November 11, 2012 Manufacturers are boosting investment in employee skills in response to poor schooling, a survey out today revealed. Sixty per cent of firms in the sector said training spend would moderately or significantly increase in the next two years, the industry group EEF and JAM Recruitment said, in response to a perceived deficit in basic skills.
UK lacks entrepreneurial spirit November 11, 2012 Citizens of developing countries see struggling through adversity as a necessary means to achieving success, survey data suggested today. Eighty-eight per cent of Indian respondents to a Barclays poll, along with 74 per cent of Saudi Arabians polled said entrepreneurs should persist when faced with setbacks – compared to just 35 per cent of respondents [...]
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 [...]
