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), [...]
Turkish government’s bond yields drop on Fitch upgrade November 5, 2012 TURKISH government debt is no longer junk rated, credit ratings agency Fitch said yesterday, pushing down the country’s borrowing costs. The state’s falling budget deficit and promising economic growth outlook combined to make the government’s debt a more attractive investment prospect, the agency announced as it raised the rating from BB+ to BBB-, the lowest [...]
Hiscox is set to ride out cost of Hurricane Sandy November 5, 2012 INSURER Hiscox yesterday said it would be able to manage the costs of Hurricane Sandy, the devastating storm that hit the US Eastern seaboard last week, despite predictions the storm could cost the insurance industry up to $20bn (£12.5bn). The FTSE 250 listed insurer, which underwrites personal and insurance risks around the world, said it [...]
Adoboli tells court he lied to protect colleagues and was not an addict November 5, 2012 ACCUSED UBS rogue trader Kweku Adoboli denied yesterday that he was addicted to gambling, saying that losses on his personal betting accounts were due to his life spiralling out of control. Adoboli also told a London court that he had been lying to protect his colleagues when he said in an email to the Swiss [...]
What impact will the New York storm have on Hiscox? November 5, 2012 NICK JOHNSON | NUMIS We recently upgraded our net tangible asset forecast by two per cent to assume zero hurricane losses. We would expect this to reverse with the inclusion Sandy losses. The impact may ultimately be somewhat offset by stronger than expected investment earnings. BEN COHEN | CANACCORD GENUITY We expect consensus to review [...]
Blankfein ends sandbag saga November 5, 2012 GOLDMAN Sachs boss Lloyd Blankfein may be no stranger to popular criticism, but decided enough was enough after his firm’s robust rebuffing of hurricane Sandy attracted scorn. With the bank’s New York building sandbagged to high heavens and basking in the glow of its generator-fuelled lights last week, Blankfein took some stick on Twitter. “The [...]
Former Bank of England rocker plucks his way to charity stardom November 5, 2012 REGULAR readers of this page will be familiar with ex-Bank of England MPC member and now PwC economist Andrew Sentance’s second career as a part-time rock star. He has been putting his musical credentials to good and public use, making a charity appearance with his band Revelation. The concert, which Sentance told The Capitalist raised [...]
