Motorists keep old cars in bad economic times July 1, 2012 THE RECESSION has impacted motorists heavily, with slower growth in the number of cars on the road and an increased average car age, according to research out today. Parc, a measure of the prevalence of cars on the road, rocketed up 17 per cent in the decade to 2001, but only nine per cent in [...]
Business bosses to explain why young Londoners can’t get work July 1, 2012 BUSINESS leaders will this week tell an inquiry why they think young Londoners struggle to compete with migrant workers in the jobs market. Bosses including Starbucks UK head Kris Engskov, The Berkeley’s chef patron Marcus Wareing and charity leader Eddie Stride will appear before the inquiry, set up by Mayor of London Boris Johnson. Travelodge [...]
CITY MOVES WHO’S SWITCHING JOBS July 1, 2012 Ogier The legal and fiduciary services group has appointed Aaron Le Cornu as group chief operating officer. Le Cornu joined Ogier in 2009 as group finance director, having spent the previous 10 years at HSBC. Additionally, Jamie Bore has been promoted to group financial director. He joined Ogier in 2009, and previously worked at IFG [...]
BEST of the BROKERS July 1, 2012 BMW UBS has upgraded the car firm from “neutral” to “buy” with an unchanged 12-month target price of €75. The broker has trimmed its earnings per share forecast for the year by five per cent, due to weakening markets. However, it thinks the firm is protected from some of the slump thanks to its exposure [...]
LONDON REPORT July 1, 2012 ALL eyes this week will be on the Bank of England’s Monetary Policy Committee (MPC), which is on Thursday expected to inject another £50bn into the British economy. The decision is likely to be influenced by last week’s news that the double-dip recession is deeper than first thought. The Office for National Statistics said the [...]
WALL ST THE WEEK AHEAD July 1, 2012 US stocks finished the first half of the year with a bang as investors welcomed news that the Eurozone is a step closer to solving its 30-month-long debt crisis. Now for the question: Is this rally strong enough to last for more than a day? The S&P 500 and the Nasdaq posted their best daily [...]
The pensions industry must act to avert the looming UK capital crisis July 1, 2012 OVER the next few decades, the UK’s public finances face being crushed by the costs of preserving our pensioner population. In parallel, our domestic supplies of capital will likely be depleted, exacerbated by a shrinking savings pool. Japan’s once legendarily high savings rate is expected to turn negative this year, as pensioners spend their savings. [...]
Yet another Euro summit provides no real solution July 1, 2012 WILL last week’s summit of EU leaders, the nineteenth since the start of the Eurozone crisis, be seen by future historians as the point at which the tide finally turned? This was certainly the tone of some of the initial media reactions, which judged that Angela Merkel’s resistance had finally been breached, and that progress [...]
The City has much to gain from China’s development as a financial centre July 1, 2012 THE relationship between the UK and China came into sharp focus over the past week, as Hong Kong celebrated the fifteenth anniversary of its return to Chinese sovereignty. In this time, China’s economic transformation – underlined by its ascent to become the world’s second largest economy – has been nothing short of miraculous. That much [...]
Are the government’s proposals for House of Lords reform a sensible move forward? July 1, 2012 YES Peter Facey The government’s House of Lords Reform Bill is very welcome. To have published a bill at all is a historic landmark. Despite Parliament committing itself to replacing the House of Lords with a democratic second chamber 101 years ago, this coalition is the first to have got even this far. We’re not [...]
