Eurozone sees rise in activity November 23, 2009 EUROZONE economic activity rose at its fastest pace for two years in November, raising hopes that the economic recovery is well underway. The data shows the eurozone economy made further progress after emerging from its worst ever recession in the third quarter, although the rate of growth to come is likely to be weak. Markit [...]
OECD says Britain’s recovery is lagging behind other states November 23, 2009 THE world’s leading industrial countries emerged from recession in the three months to September – but Britain’s recovery is lagging behind, a leading economic body said yesterday. The Organisation for Economic Cooperation and Development (OECD) said its 30 member states averaged growth of 0.8 per cent in the quarter, while the UK’s economy contracted by [...]
US existing homes sales pace is up 10 per cent to two-year high November 23, 2009 SALES numbers for previously owned homes in the US jumped more than 10 per cent in October to reach the highest rate since February 2007. The National Association of Realtors (NAR) said sales surged 10.1 per cent month-on-month to an annual rate of 6.1m sales, up from 5.54m in September. Analysts said the boom was [...]
KING IN THE HOT SEAT November 23, 2009 BANK of England governor Mervyn King will be grilled by MPs this morning, when he appears in front of the Treasury Select Committee along with some other members of the Monetary Policy Committee. The MPs, led by chairman John McFall, are likely to quiz King on inflation and the perilous state of the public finances.
Carphone freezes out Sony Ericsson November 23, 2009 CARPHONE?WAREHOUSE has stopped selling Sony Ericsson’s flagship smartphone due to software problems, dealing a blow to the loss-making Japanese-Swedish firm’s turnaround plans. Europe’s biggest mobile phone retailer said yesterday it temporarily withdrew the recently launched Satio. “From time to time we experience issues with new handsets and their software, which may result in a customer [...]
Cosmen family ups interest in Nat Express November 23, 2009 JORGE COSMEN’S family, the largest shareholder in National Express which has been at loggerheads with the transport company over its financing and future, upped its stake in the bus and rail group yesterday. The Cosmens rose their stake to 19.46 per cent, up from 18.97 per cent, ahead of a vital vote on National Express’ [...]
THE LONDON REPORT November 23, 2009 BRITAIN’S top share index ended sharply higher yesterday, snapping a four-day losing streak, with commodity and banking stocks rallying after comments by a senior US Federal Reserve official. The FTSE 100 index finished up 104.09 points, or 2 per cent, at 5,355.50 and recorded its biggest one-day percentage rise in more than six weeks. The [...]
Bill cuts will drain Thames Water payout November 23, 2009 THAMES WATER would be forced to abandon paying a dividend altogether if the water regulator does not alter its push for lower bills. The UK’s biggest water supplier has informed its owners, Macquarie Bank of Australia and a range of pension funds, that they face missing out on a £200m return next year, a source [...]
S&P warns on UBS and Citi’s capital November 23, 2009 MOST BANKS are weakly capitalised, with Citigroup, UBS and Mizuho Financial Group more than two-thirds below the average, according to a study by rating agency Standard & Poor’s. S&P yesterday released the first global comparison of risk-adjusted capital (RAC) adequacy for the world’s 45 top banks, aiming to more consistently capture credit risk. “The results [...]
HP triples its stock buybacks November 23, 2009 HEWLETT-PACKARD tripled the size of its share repurchase programme to $12bn (£7.2bn), after a strong performance in China and improved profit margins in its services business helped boost quarterly earnings. The US computer firm also posted fourth quarter earnings up 14 per cent after cost cuts. The business reported a net profit of $2.4bn, up [...]
