ROTHSCHILD SHORTLISTED FOR PROPERTY GONG July 22, 2012 ROTHSCHILD’S new office block has been shortlisted for a prestigious Royal Institute of British Architects Sterling Prize. New Court, designed by OMA with Allies and Morrison and completed last year, has picked up plaudits for opening up views of Wren’s St Stephen Walbrook church and showing off the bank’s art collection within its walls. But [...]
Expected fall in GDP even after huge job boom July 22, 2012 THE UK is still mired in a W-shaped, “double-dip” recession, according to many analysts’ predictions of the latest preliminary estimates of GDP, set to be released by the Office for National Statistics on Wednesday. The forecast will come as a blow to the government, whose attempts to come closer to balancing the budget are becoming [...]
Firms optimistic on job growth but warn of over-regulation July 22, 2012 THE JOB recovery is set to continue, as businesses look to hire more workers, though firms voiced concerns about the level of employment regulation in a report from the Confederation of British Industry (CBI) and recruitment consultancy Harvey Nash out today. Companies are cautiously positive, with 12 per cent on balance reporting an intention to [...]
ANALYST VIEWS | WILL THIS WEEK’S GDP FIGURES SHOW AN END TO THE RECESSION? July 22, 2012 HOWARD ARCHER IHS GLOBAL INSIGHT “Our best guess is that the economy contracted by around 0.3 per cent quarter-on-quarter in the second quarter, which would leave GDP down 0.4 per cent year-on-year.” PHILIP RUSH NOMURA “Activity data have been gloomy but have not been in themselves consistent with a contraction in the second quarter. However, [...]
Inflation drop eases squeeze on households July 22, 2012 HOUSEHOLD finances deteriorated in July at their slowest pace in four months, according to Markit’s household finance index published today. The headline index rose from 37 in June to 37.5 in July – still firmly below the 50 “no change” level, but indicating a slowing of the decline. Approximately 32 per cent of respondents reported [...]
Manufacturing output to drop during 2012 on trade problems July 22, 2012 MANUFACTURING output will fall this year for the first time since 2009, as world economic problems take their toll, according to forecasts released today by manufacturers’ group EEF. The group predicts a fall of 0.6 per cent in UK manufacturing output over the year, though it expects GDP overall to inch up 0.2 per cent. [...]
China’s Bank told to loosen policy July 22, 2012 China’s economic slowdown is likely to continue but inflation will keep easing, a key adviser to the country’s central bank predicted over the weekend. Song Guoqing said that growth could edge down further due to weaker global demand, also warning that China could even face a deflationary threat. Song’s dovish comments appear to increase the [...]
New house prices tick down July 22, 2012 Prices in the new homes market slipped in June, as house-builders kept a tight hold on their costs, said SmartNewHomes today. The average price of a new home was at £232,292, down 1.2 per cent compared to May, but up 0.4 per cent on the first quarter. “The new homes market performed strongly in the [...]
Reporting of fraud collapses July 22, 2012 Reported fraud plummeted between the end of 2011 and May this year, according to accountancy firm BDO. While £920m was reported during the same period last year, just £424m was reported this year, driven largely by a 55 per cent fall in the average value of a fraudulent case. BDO suggests that firms are underreporting [...]
Italian parties back Monti July 22, 2012 Italy’s divided political parties restated their support for Prime Minister Mario Monti at the weekend, seeking to calm fears of instability that helped drive Rome’s borrowing costs to dangerous levels last week. Monti’s office dismissed an unsourced report in the Corriere della Sera newspaper that he was considering an early election in the autumn and [...]
