Chemring profit hit by US delays June 19, 2012 Chemring Group said yesterday its profits have fallen in the first half of the year due to delays in US defence orders, but that it will meet expectations by the end of the year. However, the military equipment maker said that its order book was up 14 per cent at £1bn since October 2011. For [...]
Kentz on track for full year June 19, 2012 Kentz Group said yesterday it remains on track to meet its own guidance, as its backlog of work on hand grew further to £1.6bn. The company also said growth from its existing clients plus new orders amounted to about £448m. Christian Brown, chief executive of Kentz, said that although that the global economy is still [...]
Confidence edges lower but those at the top remain cheerful June 19, 2012 ECONOMIC confidence among consumers has continued its downward path in June, according to the latest figures for YouGov’s Household Economic Activity Tracker (HEAT) – but this is not necessarily a reason to worry yet. The first three months of the year saw the index accelerate upwards, but that momentum stalled in April and scores have [...]
Brits lose faith in the Bank’s performance June 19, 2012 RUNAWAY inflation over the past two years has pushed public satisfaction with the Bank of England to record lows, a new study reveals today. A net balance of just 11 per cent surveyed were satisfied with the Bank’s performance last month, down from 20 per cent in February and barely above the record low of [...]
London’s housing boom keeps driving national price growth June 19, 2012 House prices in London and the south east rose quickly in the year to April 2012, contrasting starkly with stagnation or even deflation elsewhere, according to official data published yesterday. An increase of 4.9 per cent in the average London house price, to £388,000, and a 2.1 per cent rise in the south east, drove [...]
Fitch gives thumbs up to plan to help banks and raise loans June 19, 2012 EMERGENCY measures to boost the economy will help support Britain’s banks against any collapse in the Eurozone markets, supporting credit ratings in the sector, said ratings agency Fitch yesterday. However, the “funding for lending” scheme, through which the government and bank of England hope to give cheap funds to banks, will have a neutral impact. [...]
VOICE OF THE CITY June 19, 2012 THIS week we are asking members of our Voice of the City panel to pick a date for the UK’s next round of quantitative easing. Members of the panel, which is run with PoliticsHome, can have their say on whether and when Sir Mervyn et al should turn the taps back on to pour cash [...]
High taxes stifling UK growth June 19, 2012 The tax system puts a heavy burden on growing enterprises as their taxes increase the more they produce, revealed a report published by the Institute of Directors (IoD) today. Even the smallest firms with five employees have to pay more than 30 per cent of their profits in tax, while middle-sized businesses have to pay [...]
School leavers not ready for work June 19, 2012 Young peoples’ expectations of careers and how to progress are not based on hard evidence, according to a new report out today which urges the government to take steps to change school leavers’ plans. The study from the Financial Skills Partnership and Career Academies UK showed that many young people aged 17 and 18 do [...]
Growth in US housing market June 19, 2012 The housing recovery may be back on in the US, as data out yesterday showed a strong rise in housing starts last month. New permits granted reached their highest level since 2008, growing by 7.9 per cent to 780,000 in May. This was well above forecasts, suggesting that there will be a greater future demand [...]
