Income growth at lowest level since late 2010 October 14, 2012 CONSUMERS came in for a hammering in September, data from Lloyds TSB showed today, as annual income growth hit its lowest level since December 2010. Real discretionary spending power dived 0.9 per cent last month, after 2.2 per cent growth in August, leaving consumers with around £100 a year less to spend on non-essential items, [...]
House prices rebound strongly in September on tight supply October 14, 2012 HOUSE PRICES have bounced back this month, data from Rightmove showed today, after September’s gloomier picture for the housing market. The average asking price rose £8,310 – or 3.5 per cent – between September and October, bringing it to £243,168, the data revealed. This recovery came after a stagnant housing market in September, shown by [...]
Analysts expect inflation to slip due to one-off utility bill factor October 14, 2012 CONSUMER price inflation will have slipped in September, analysts said yesterday, ahead of data coming out tomorrow. “Inflation should have fallen sharply in September,” said Vicky Redwood at Capital Economics, “Given that we have reached the anniversary of sharp rises in utility prices a year ago.” Redwood predicted the rate would dive to 1.9 per [...]
China says inflation top priority October 14, 2012 Controlling inflation is the number one priority for China’s central bank, deputy boss Yi Gang said yesterday. “[Controlling] inflation is our number one job – as a central [bank], we have to control inflation,” Gang told delegates to the annual IMF-World Bank meeting, in Tokyo, a blow to those hoping the central bank would take [...]
Westminster house prices soar October 14, 2012 Westminster housing is the most expensive in the UK per square metre, and prices there have nearly doubled over the last 10 years, data from Halifax revealed yesterday. Housing in Westminster costs £7,586 per metre squared, the data showed, up 81 per cent over the past 10 years. This made it more than twice as [...]
Meet the investment banker who gave insurance a whirl October 14, 2012 AFTER the chaos of last year, 2012 has so far been something of a relief to the insurance industry. A perfect storm of floods in Australia and Thailand, the Japanese tsunami and nuclear disaster and the earthquake in New Zealand made 2011 the second most expensive on record for the Lloyd’s of London market, and [...]
City Moves | Who’s switching jobs October 14, 2012 Royal Bank of Scotland John Shelley has joined RBS as chief risk officer, Asia Pacific, for all RBS businesses in the region. Shelley began his banking career with NatWest and RBS in the UK, and he has previously worked for Coutts Private Banking in Asia and has since held a number of senior roles with [...]
Best of the Brokers October 14, 2012 RANK GROUP Panmure Gordon reiterates its “hold” recommendation but increased its target price from 145p to 160p after hopes were raised the gaming business could acquire Gala Casinos. ENI Canaccord Genuity retains its “sell” rating on the stock due to weaknesses in the business’s gas and power division. It has a sell target price of [...]
UK finances in spotlight with inflation data October 14, 2012 BRITAIN’S finances will be brought sharply into focus this week with details of the annual inflation rate, minutes of the October Monetary Policy Committee (MPC) and public finances data. On the corporate front, housebuilder Bellway is expected to extend the sector’s positive run tomorrow, with preliminary results. Today’s news includes a trading update from Fresnillo, [...]
Markets react with caution as US corporates hit by global downturn October 14, 2012 CENTRAL bank-fuelled gains took markets within reach of five-year highs in September, but US stock market participants are shifting their focus back to corporate outlooks, and the picture is not pretty. Early earnings reports have underlined those concerns, which may be exacerbated when dozens of major companies – including Dow components General Electric, Microsoft and [...]
