Miles: No further QE needed for now August 15, 2011 The economy does not need more stimulus from quantitative easing now, though there could be times where it would do, Bank of England policymaker David Miles has said. “There could be circumstances under which I would judge the right policy would be to embark on further asset purchases but that’s not how I’ve seen things [...]
Virgin sells UKTV stake to Scripps for £239m August 15, 2011 Virgin Media has sold its 50 per cent stake in UKTV, home to 10 channels including Dave and GOLD, to Scripps Networks for £239m as part of its strategy to move away from content production. Scripps, which will also pay about £100m to acquire the outstanding preferred stock and debt owed by UKTV to Virgin [...]
Mitie sees order book hit record levels August 15, 2011 Construction and outsourcing firm Mitie said its financial year had started well with profit and revenues in line with expectations and that it was extremely positive about the outlook thanks to a record order book. Mitie, which provides services from cleaning to engineering, said on Monday it had made significant progress in each of its [...]
Japan on path to recovery after quake crisis August 15, 2011 Japan’s economy shrank much less than expected in the second quarter as companies made strides in restoring output after the devastating earthquake in March, but a soaring yen and slowing global growth cloud the prospects for a sustained recovery. Analysts expect the world’s third-largest economy to rebound in July-September, probably expanding at the fastest rate [...]
Asian shares bounce back August 15, 2011 Asian shares bounced back overnIght and European stocks looked set to follow as investors returned to pick up bargains, while havens like gold and the Swiss franc lost appeal. But broader markets remained fragile ahead of a key Franco-German summit that may offer a solution out of the spreading debt crisis. A 0.8 per cent [...]
Michael Page profit jumps but banking tails off August 15, 2011 Recruitment firm Michael Page has seen a jump in revenue and profits in 2011 but said profit growth in the banking sector has slowed in the second half of the year. Revenue in the first half of 2011 rose 27.6 per cent, or 25.8 per cent using constant exchange rates (CER), to £502.1m from £393.5m [...]
Cameron pledges radical reforms August 15, 2011 DAVID Cameron will today pledge a sweeping review of the UK’s approach to social policy in the wake of last week’s devastating riots. The prime minister will use a speech this morning to announce a “social fightback” to match last week’s security operation. He will pledge to “review every aspect of our work to mend [...]
Speculation hots up over eurobonds August 15, 2011 ITALIAN politicians stepped up pressure for closer fiscal union across the Eurozone over the weekend, as a report emerged that German ministers were considering caving in on demands for eurobonds. Speaking ahead of a crucial Franco-German summit this week, Italian economy minister Giulio Tremonti said: “We would not have arrived where we are if we [...]
BP to offload North Sea rig August 15, 2011 BP is set to continue the trend of oil and gas firms exiting North Sea assets with the sale of its minority stake in the Shearwater field. Sources close to the deal told City A.M. the 27.5 per cent stake in the Shell-run gas field could net BP more than £150m. GDF Suez is also [...]
Cameron’s police and euro blunders August 14, 2011 EVERY so often, a confluence of events forces a country to choose a new direction. Britain is at such a crossroads: we need radical reform in virtually all areas of domestic policy as well as new trading relationships and security alliances internationally. The riots and the crisis in the Eurozone ought to serve as catalysts [...]
