Pirc slams recruiter Hays for its sums on director pay packets October 23, 2012 RECRUITMENT firm Hays has come under fire for the way it pays directors, with influential shareholder body Pirc telling investors to vote down the firm’s remuneration report next month. Hays, which has been hit by the Europe-wide hiring slowdown this year, does not use stringent enough targets for its bosses when awarding bonuses, Pirc argued [...]
Business lending continues to slump as firms reduce debts October 23, 2012 BUSINESS borrowing slid further in September, data revealed yesterday, but mortgage lending increased slightly. Net business lending contracted £1bn between September and August, the British Bankers’ Association said, after falling £1.7bn on average in the previous six months. This continued fall in the stock of loans came from the demand side, the industry body said, with [...]
Global consumption growth set to return in coming year October 23, 2012 THE GLOBAL consumption slowdown may have come to an end in October, data hinted today, after growth bounced back from August and September lows. Global consumption grew 1.7 per cent in the year to October, according to PwC’s global consumption index, up from 1.5 per cent in September. Consumption momentum climbed to one per cent [...]
Construction firms hopeful October 23, 2012 CONSTRUCTION output stayed flat in the third quarter, according to data released today, but expectations climbed to a four year high. Total workloads continued to edged down during the period, data from the Royal Institution of Chartered Surveyors revealed, but the index level improved from minus four per cent in the second quarter to minus [...]
Deferred payments reduce risk October 23, 2012 ■ Deferred bonuses reduce risk-taking in financial services, a poll of executives by recruiter Robert Half revealed today. Eighty-nine per cent of financial services chief financial and operating officers said deferring bonuses had an impact in creating a less risk-prone environment. “Deferred bonuses are reducing the short-term risk culture within the sector,” said Neil Owen [...]
UK trade rebalancing slows down October 23, 2012 ■ The UK rebalancing towards exports slowed down in the third quarter, data out yesterday suggested, but exporters continue to increase sales. Thirty-nine per cent of exporters said their export sales were up in the third quarter, data from DHL and the British Chambers of Commerce (BCC) revealed yesterday, but this was down from 49 [...]
US factory prospects get worse October 23, 2012 ■ Manufacturing activity in the States slowed in October, according to an influential survey from the Richmond Fed, hitting hopes that the economy is back on track to recovery. The index fell 11 points on the month to minus seven, as capacity utilisation and shipping levels slumped. Employment in the sector fell modestly again, and [...]
US corporate results round-up October 23, 2012 Harley beats in spite of sales dip Harley-Davidson reported lower quarterly earnings yesterday as it revamped production at its largest factory, but the motorcycle maker kept its full-year forecast for shipments unchanged. Net earnings fell to $134m (£84m), from $183.6m a year ago, and revenues dropped to $1.25bn. Both figures were slightly ahead of Wall [...]
BP Marsh eyes two bolt-on investments October 23, 2012 VENTURE capital group BP Marsh & Partners yesterday said it was exploring two new investment opportunities in the UK and Finland to boost its asset portfolio. The Aim-listed early stage investor in financial services firm, led by Brian Marsh, is eyeing the two businesses to take the number of firms it invests in from nine [...]
Property firms turn to insurers for financing October 23, 2012 PROPERTY developers are turning to insurers for finance as banks become reluctant to lend, according to a report released yesterday. According to research by law firm DLA Piper, the amount of money lent by insurers in the form of UK commercial real estate (CRE) loans will almost double to £52bn over the next five years. [...]
