OECD figures foresee an uptick in British economic prospects October 8, 2012 ECONOMIC growth is set to pick up in the UK even as it weakens across the Eurozone, the Organisation for Economic Co-operation and Development (OECD) said yesterday. The Paris-based group released its latest composite leading indicators, designed to predict economic turning points in the near future. The Eurozone’s indicator slipped to 99.4 in August, from 99.5 [...]
Boost for mortgage lending October 8, 2012 The number of mortgages available to prospective home-buyers has started to expand, according to the Moneysupermarket website. The group also claimed that lenders are offering high loan to value (LTV) ratio deals. “Since April, there has been a 14 per cent increase in the number of 75 per cent LTV mortgages available, rising from 636 [...]
Stats office launches consultation October 8, 2012 The Office for National Statistics (ONS) yesterday launched its consultation over possible changes to how it calculates the retail price index (RPI) measure of inflation. The ONS has proposed four changes surrounding the so-called Carli formula, as well as regarding how private rental costs are measured. The consultations will close at the end of November [...]
Swiss deflation starts to ease October 8, 2012 Swiss consumer prices fell 0.4 per cent in September compared to a year earlier, according to official data released by its Federal Statistics Office yesterday. However, the data contained some signs of recent inflation, with prices picking up 0.3 per cent compared to August. “We expect consumer price inflation to be positive again by the [...]
City Moves | Who’s switching jobs October 8, 2012 Dechert Lewis Ho has been appointed to Dechert’s Hong Kong office as a partner in the corporate and securities practice. He was previously partner at the Simmons & Simmons Beijing office. He has represented international pharmaceutical companies including GlaxoSmithKline and Novartis, served as vice chairman of the IP Working Group of the European Union Chamber of [...]
Best of the Brokers October 8, 2012 DEUTSCHE BANK Deutsche has given easyJet an upgrade from “hold” to “buy”, based on a positive update and its new allocated seating plan, and has increased its target price by 17 per cent to 745p. SEYMOUR PIERCE Seymour Pierce maintains its “hold” rating for the luxury fashion retailer, judging it a “long term growth story” [...]
FTSE falls as banks and miners hit by concerns over earnings outlook October 8, 2012 BRITISH blue chip shares dipped yesterday with growth-linked banks and miners hit by concerns about earnings and the global outlook, although analysts said the market’s uptrend would resume soon. UK banks fell 1.2 per cent, while mining stocks were down 0.4 per cent after the World Bank cut its growth forecasts for China and as [...]
US stocks fall in Columbus Day light trade October 8, 2012 US stocks slipped in light trading yesterday, pulling back from recent five-year highs ahead of an earnings season expected to be weak. Trading volume was the lowest so far this year in a full session as the US government and the bond market were closed for the Columbus Day holiday. About 4.1bn shares changed hands [...]
Taking a long view: Radical ideas for the Conservative’s manifesto October 8, 2012 IF YOU’RE keen to catch sight of what the Conservative party might look like in a decade’s time, you should make your way to the Sonata room at the Hyatt Hotel in Birmingham at half past seven this evening. A fringe meeting there, organised by the Institute of Economic Affairs and the Free Enterprise Group [...]
Businesses need to wake up to the real and present danger of cyber-crime is October 8, 2012 SPEAKING in Budapest, the Foreign Secretary William Hague recently announced that cyber-crime is “one of the greatest global and strategic challenges of our time”. In July, the director general of the Security Service Jonathan Evans stated that cyber security ranks alongside terrorism as one of the four key security challenges facing the UK. There is [...]
