Scrap boosts new car sales July 6, 2009 NEW car sales in June fell at their slowest rate for nearly a year, the Society of Motor Manufacturers and Traders said yesterday, as it praised the government’s scrappage scheme. The number of new cars sold in the UK last month totalled 176,264 – a 15.7 per cent drop on the June 2008 figure, according [...]
Number of mortgage products at all-time low as lenders withdraw July 6, 2009 THE VOLUME of mortgage products on offer has slumped to the lowest level on record, leaving homeowners with a severe lack of options for taking out loans as the recession continues to curb lending. Price comparison website Moneysupermarket.com said borrowers now have just 2,282 deals from which to choose, while first-time buyers have a range [...]
YES, RECOVERY WILL BE LONG AND HARD June 28, 2009 JANE FOLEYRESEARCH DIRECTOR, FOREX.COM HAVING rallied between March and early June on the expectation that the global economic downturn could be in the process of bottoming, the market is displaying a reluctance to extend risk. The reason is clear – economic data may have improved, but they are not yet sufficiently strong to confirm that [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 28, 2009 THE SUNDAYSThe Sunday TelegraphCAMELOT LAUNCHES CONSULTANCYCamelot, the national lottery group, has launched a consultancy business to lotteries globally and is close to winning its first piece of business advising the California operator. Camelot Global Services, an independent company, is expected to be appointed as a consultant to the California State Lottery and advise the US [...]
Regeneration is taking off in the Olympic quarters June 25, 2009 STRATFORD has long been one of those London areas that is supposedly on the verge of gentrification. The coming of the DLR, then the Jubilee Line, were meant to turn it into an up-and-coming area attractive to thrusting young professionals. It never quite happened. But last week, two things took place which mean that Stratford [...]
ANGLO SAYS NO TO XSTRATA MERGER June 22, 2009 ANGLO AMERICAN, led by chief executuve Cynthia Carroll, snubbed rival miner Xstrata’s takeover approach last night, calling its rival’s terms “totally unacceptable”. Anglo said Xstrata’s £40bn plus merger proposal was “unattractive” and would hurt its interests in the platinum, iron ore and diamond markets. Xstrata has strong coal and copper interests. Anglo added that its [...]
ECONOMIST VIEWS: WHAT ARE THE PROSPECTS FOR THE UK HOUSING MARKET ? June 21, 2009 NICK BATES MERRILL LYNCHIt has picked up over the past few months – you’ve seen realised mortgage approvals picking up a bit from their troughs and there seem to be improvements in credit supply conditions, but supply is still relatively tight. It’s a mixed housing market at the moment and overall, a lot of the [...]
The post-trade space is facing a revolution following Mifid June 17, 2009 IN THE fast and exciting world of trading it is all too easy to overlook the importance of the necessary but rather administrative post-trade activities, of which clearing and settlement are the most important. But these play a vital role in the functioning of the European securities markets. And the European clearing and settlement space [...]
BOND YIELDS ARE A THREAT TO RECOVERY June 17, 2009 GEORGE TCHETERTAKOVHEAD OF MARKET RESEARCH, ALPARI UK THE bond markets are often underestimated and overlooked by investors because they are usually very stable, in fact almost too stable for some traders to take notice. However, over the past 18 months they have not only been volatile, but also pivotal in influencing banks, governments, central banks [...]
High Speed 1 will make Kent even more commutable June 11, 2009 THE Garden of England has always been an attractive location for commuters looking for fresh air and plenty of green countryside. Towns such as Tonbridge and Sevenoaks have long been classic commuter towns for those working in the City, but other parts of Kent have been out of reach for those who work in London. [...]