MPC member says economy may contract November 24, 2011 CONTRACTION may be underway, the Bank of England’s Ben Broadbent warned as the Office for National Statistics revealed more information on the composition of the third quarter GDP figures yesterday. Growth was confirmed at 0.5 per cent in the last three-month period, as production industries increased output by 0.4 per cent and the services sector [...]
CITY VIEWS: IS THE UK A SAFER HAVEN THAN GERMANY? November 24, 2011 ROBERT DANES | RBD BUSINESS SOLUTIONS “It’s no safer than Germany that’s for sure – I think it was just their lucky day yesterday. I think Germany is the power house, but I think it’s a question of whether it bails out everybody else or goes its own way… Whatever happens in Europe is going [...]
Neets up again as young jobs hunt continues November 24, 2011 RECORD numbers of under-24s are not in employment, education or training (Neets), Department for Education figures revealed yesterday. Now 1,163,000 16 to 24 year olds are Neets, up 137,000 in the year, taking the proportion to 19.2 per cent. Over one fifth (21.5 per cent) of 19 to 24 year olds fall into the category, [...]
CITY MOVES | WHO’S SWITCHING JOBS November 24, 2011 Betfair Matt Lambert has been appointed as director of public affairs at the gaming group. He will oversee Betfair’s global public affairs strategy. Lambert is currently director of corporate affairs and citizenship at Microsoft UK, responsible for government and political relations, community affairs and environmental practice. FSA The Financial Services Authority has appointed Sir Nicholas [...]
London 2012 IMAGE OF THE WEEK November 24, 2011 LONDON 2012 | OLYMPIC POWER EDF, the official electricity supplier of the 2012 Games, this week unveiled Team EDF, a line-up of 36 Olympic and Paralympic athletes, at Tower Bridge, which EDF is helping to relight. Lord Coe, EDF Energy chief executive Vincent de Rivaz and head of 2012 EDF Catherine Lescure attended. Joining the [...]
Pennon profits rise on recycling November 24, 2011 BRITISH water and sewerage services company Pennon Group reported a better-than-expected pre-tax profits for the first half helped by strong growth at its waste management unit Viridor. Waste management, recycling and renewable energy company Viridor now accounts for a third of total group profits. First-half total pre-tax profits rose 12 per cent to £107.4m, higher [...]
Flybe’s $500m new plane fund November 24, 2011 REGIONAL airline Flybe has signed for a loan with the Brazilian Export Development Bank for $500m (£330m) to help update its fleet. Flybe is buying 35 new Embraer aircraft, with delivery between 2011 and 2016, and the firm is using its new loan to pay for around 20 of those. Chairman and chief executive Jim [...]
BEST OF THE BROKERS November 24, 2011 BSKYB Nomura rates BSkyB neutral with a £10.00 target over the Competition Commission’s bid to encourage more bidders for movie broadcast rights. The CC suggests letting third parties sell directly to Sky’s Anytime customers, and that Sky publish the dates its film contracts end. Nomura sees limited impact in these as in two recent deals [...]
FTSE sees longest slide in nine years November 24, 2011 THE UK’s blue-chip share index ended lower for the ninth consecutive session yesterday in its worst run since January 2003 after Germany reiterated its opposition to the use of euro bonds or monetary tools to help solve the Eurozone’s debt crisis. Following a meeting with the leaders of France and Italy, German chancellor Angela Merkel [...]
Sixth day of falling stock November 24, 2011 EUROPEAN shares fell for the sixth consecutive session in low volume yesterday after German Chancellor Angela Merkel restated her position against changing the role of the European Central Bank to ease the Eurozone debt crisis. The market trimmed gains after the comments by Merkel about the ECB as well as remarks that she remained opposed [...]
