Banks warn tough new capital rules hit lending to small firms November 26, 2012 BRITISH banks are being hit hard by incoming regulations, hurting their ability to lend and so damaging the economy, TheCityUK warned yesterday. The lobby group particularly singled out the impact on small firms, who are more reliant on bank funding than bigger businesses, and called on the government to slow down the implementation of the [...]
Bank of Japan split over new stimulus ideas November 26, 2012 A SPLIT within the Bank of Japan was laid bare yesterday, with newcomers to its board pressing to strengthen commitment to an ultra-loose policy. Pressure on the central bank for bolder action has intensified in the run up to next month’s election with leading opposition candidate Shinzo Abe calling for the central bank to adopt [...]
Inflation expectations ease November 26, 2012 Inflation expectations have fallen slightly this month, according to a prominent survey released yesterday – yet people still expect prices to keep ticking up. Median inflation expectations for the year ahead edged down to 2.8 per cent, the YouGov report for Citigroup said, down from three per cent in October. In the longer term – [...]
Taxes crippling the high street November 26, 2012 High taxes on empty retail properties are “crippling the recovery agenda”, a leading group of chartered surveyors will argue this morning. More than nine in 10 surveyors say that the charges on the high street are “significantly detrimental” to UK town centres. “The charges faced by property owners are quite simply crippling the high street [...]
Argentine floods hit food prices November 26, 2012 Flood-hit Argentina will harvest corn later than expected this season, supporting already-high world food prices as consumer nations are forced to rely longer on thin US supplies. Argentina is the number two corn exporter after the US, where the worst drought in decades trampled this year’s crop. With food stocks hit by dry weather in [...]
French minister wants Mittal to leave country November 26, 2012 STEELMAKER Mittal, which acquired France’s Arcelor in 2006, is no longer wanted in France due to years of broken promises, Industry Minister Arnaud Montebourg said yesterday, intensifying a row over plans to close two furnaces in north-eastern France. Montebourg’s attack on ArcelorMittal, which he later qualified, risks exacerbating tensions in a dispute that is central [...]
Egypt unrest and worries over funding slash Centamin shares November 26, 2012 CENTAMIN was yesterday the second biggest faller on the FTSE 250 as funding worries spooked investors. The mining company said it needed to make a gold shipment from Egypt shortly to meet its working capital needs. The growing political tension in Egypt has also unsettled shareholders. Centamin said yesterday it was preparing to resume exports [...]
Oil explorer Tullow announces fresh discovery at Kenyan well November 26, 2012 TULLOW Oil confirmed yesterday that its Twiga South-1 well in Kenya had discovered oil, raising prospects that the region holds a significant reservoir. The British explorer said it had found 30 metres of net oil pay at the well, its second at the Lokichar Basin, onshore Kenya. The oil was of a similar quality to [...]
Rosneft may use TNK-BP cash and loans to fund takeover November 26, 2012 ROSNEFT may dig deeper into its pockets and raise funds from TNK-BP to help finance its $55bn (£34.3bn) takeover of the Anglo-Russian oil firm that will make it the world’s largest listed oil firm by output. Rosneft said in a Eurobond prospectus, dated 23 November, that it may use its and TNK-BP’s existing cash – [...]
Cobham recruits chief financial officer from listed peer Senior November 26, 2012 DEFENCE manufacturer Cobham yesterday poached the group finance director of its FTSE 250 aerospace technology rival Senior to become its new chief financial officer. Simon Nicholls will leave Senior at the end of April next year after five years in the post to replace outgoing Cobham CFO Warren Tucker, who will stand down at the [...]
