London market drags up overall UK house prices July 17, 2012 THE UK’S house price recovery continued in May, led by a buoyant London property market, according to data released yesterday by the Office for National Statistics. In the year to May UK house prices climbed 2.3 per cent, driven by a 7.2 per cent jump in London – the largest since November 2010 – and [...]
Economic confidence seems to be improving July 17, 2012 GOOD economic news may not be that easy to come by, but following on the back of yesterday’s inflation news the July numbers from YouGov HEAT (Household Economic Activity Tracker) give some cause for optimism, with the steady decline in economic confidence of the past few months at last reversing. The Index score, which takes [...]
UK sells more outside EU than inside for first time since 1970s July 17, 2012 THE EU is no longer the UK’s main export market, according to research published today by the Centre for Economics and Business Research (CEBR). The three months to May 2012 registered a sea-change in British trade, with non-EU exports of goods exceeding those to the union by 1.5 per cent – the first time they [...]
Spanish debt costs slip slowly July 17, 2012 The Spanish government saw its borrowing costs fall yesterday in its first auction since new austerity measures were announced. It borrowed €3.56bn (£2.79bn), paying 3.918 per cent on 12-month bills, down from 5.074 per cent last month, and 4.242 per cent on 18-month debt, down from 5.107 per cent. But yields on 10-year bonds remain [...]
Monti fears Sicily could default July 17, 2012 Italian Prime Minister Mario Monti expressed serious concern yesterday over a possible default by the autonomous region of Sicily. Monti said in a statement there were “grave concerns” that the southern island could default and he said he had written to the governor Raffaele Lombardo seeking confirmation that he would resign by the end of [...]
Confidence falls in Germany July 17, 2012 German investor confidence slumped to a six-month low in July, the ZEW index showed yesterday, leading economists to forecast a further slowdown.The expectations index fell for the third consecutive month in Germany, dropping 2.7 points to minus 19.6. For the Eurozone, the index also slid 2.2 points to minus 22.3.
Final salary pensions almost gone July 17, 2012 Only nine per cent of UK employees were members of a private sector defined benefit scheme in 2011, the Office for National Statistics revealed yesterday – down from 34 per cent in 1997. Meanwhile the proportion paying into an employer-sponsored pension scheme fell to 48 per cent, the lowest since records began in 1997.
BTG ups revenue forecasts July 17, 2012 Healthcare company BTG yesterday hiked its revenue estimate for the year to 31 March 2013 after receiving a final royalty payment from Pfizer for the BeneFIX product. BTG expects revenue for the period to come in at £190m-£200m rather than £180m-£190m.
Hochschild production dips July 17, 2012 Precious metals company Hochschild Mining reported a seven per cent drop in its attributable production of silver equivalent for the second quarter, and said there was an inventory pile-up at its San Jose mine in Argentina due to regulatory changes.
CITY MOVES | WHO’S SWITCHING JOBS July 17, 2012 Brooks Macdonald The asset management firm has appointed two new investment directors to its London team. Richard Wayne-Wynne is a founding partner of Vestra Wealth and previously worked at UBS Wealth Management as an investment director. Mark Godwin joins from City Asset Management, where he was an investment manager responsible for private clients. National Savings [...]
