Witching week to make a wary start September 13, 2009 With poetic timing, the FTSE finally did it. Almost a year to the day of the anniversary of the Lehman Brothers collapse, the London blue-chip index closed above the 5,000 point barrier on Friday after a tour de force week in which the market stormed up 160 points. The week ahead however is likely to [...]
A busy week on the high street as retailers report September 13, 2009 It’s time to hit the high street this week, with a whole host of retailers updating the market. In keeping with that theme, the Office of National Statistics will tomorrow release the Retail Prices Index data for August, which is expected to show that prices fell 1.5 per cent year-on-year, compared to a decline of [...]
HOW WILL UNEMPLOYMENT PROGRESS? September 13, 2009 JONATHAN LOYNES CAPITAL ECONOMICSSurveys of employment intentions suggest that the rate of job-cutting is now easing. We expect the pace of increase in this measure to slow further from here. But it could be years before unemployment is falling. even more sharply. HOWARD ARCHER IHS GLOBAL INSIGHTUnemployment still looks likely to reach 3m in 2010. [...]
Job loss tally still rising as pay rate slips September 13, 2009 UNEMPLOYMENT is expected to show another sharp rise this week when official data is released on Wednesday, raising fears about consumer demand and the effect on the economic recovery. Economists expect the broader International Labour Organisation (ILO) measure of unemployment – which is seen as a truer picture of the state of the British labour [...]
GREYHOUND LEAVES THE STALLS September 13, 2009 GREYHOUND will take off in the UK today, as its first bus, Peggy Sue, embarks on her maiden voyage. The journey, from Southampton to London, will depart at five thirty this morning. Greyhound, part of transport company FirstGroup, will run £1 services between London Victoria and Portsmouth and Southampton, in a bid to compete with [...]
CITY MOVES WHO’S SWITCHING JOBS September 13, 2009 Berwin Leighton PaisnerThe law firm has hired Russell Clifford as an asset finance partner and David Irving, pictured, as a director in the trusts and private tax team. Clifford, who was previously at Allen and Overy, specialises in structured asset finance, particularly rolling stock financing transations. Irving, who formerly ran a private equity and real [...]
3i’s venture arm sold in 130m deal September 13, 2009 LISTED private equity fund 3i Group has sold most of its venture portfolio of smaller-sized European companies to a consortium of rivals, in a transaction that has netted it around £130m. The move is part of 3i chief executive Michael Green’s plans to exit the group’s so-called venture and small minority investment portfolios as it [...]
Let’s help UK economy by reining in our jealousy September 13, 2009 Jealousy is the tribute mediocrity pays to genius, according to Fulton J Sheen. Now whilst it is hard to argue that there is much genius in a financial community that a year ago brought us to the brink of global financial meltdown, it is important to not let our jealousy get in the way of [...]
Asia’s largest airline is US rivals’ target September 13, 2009 DELTA Air Lines and American Airlines, the world’s two largest carriers, are said to be considering making rival bids for a stake in Japan Airlines (JAL). Asia’s largest airline by revenue recently posted quarterly losses of 99bn yen (£654m), and is 721bn yen in debt. Despite cutting jobs and unprofitable routes, JAL is still in [...]
Private equity-owned businesses have out-performed rivals, says new report September 13, 2009 THE PRIVATE equity industry achieved healthy levels of profit growth in the bigger companies it sold off last year, according to a study by Ernst & Young. The industry, which often finds itself fighting a reputation for “asset stripping” companies and making staff redundant to slash costs, actually boosted profits at large firms that were [...]
