London Report: Water firms to show how well profits flowing November 24, 2013 THE FTSE 100’s latest female executive, Liv Garfield, will get an idea of what she’ll face when she joins Severn Trent next year as her new employer announces interim results, along with Pennon and United Utilities. The three, who have been called on by regulators to stop planned price hikes, are expected to have increased [...]
Experian shares slump after US health purchase November 6, 2013 EXPERIAN shares fell 6.4 per cent yesterday after the credit-checking group said it plans to spend $850m (£528m) on a US healthcare business, as it revealed subdued growth in the last six months. The firm said Passport Health Communications, which offers admin and credit checks to US healthcare providers, will help it expand in new markets [...]
Slowdown in US mortgage applications November 6, 2013 The number of mortgage applications in the US fell last week by seven per cent, according to the Mortgage Bankers Association (MBA). The fall came after a 6.4 per cent increase in applications the previous week and signifies, says Capital Economics, "further evidence of a moderation in the rate of the housing recovery." Ed Stansfield, [...]
Recovery may be start of boom bust cycle says Berenberg November 1, 2013 The UK recovery is showing disturbing signs of mirroring the pre-crash economy, fuelled by consumer spending and easy credit, according to a Berenberg research note. The bank draws attention to the worryingly low savings rates in the UK which are being further depleted, giving some temporary boost to the economy. A similar situation prevailed in [...]
Consumer lending in September was more than double what was reported October 31, 2013 A correction to Bank of England data has shown that unsecured lending in September was over double what was reported. Consumers borrowed money at the fastest rate since early 2008 in the three months to September, revised data from the Bank of England showed today. The news intensifies concerns that the UK's recovery is reliant [...]
Carney: Houses drive recovery October 29, 2013 BRITAIN’S economic recovery is based on the housing boom, Mark Carney said yesterday. “Right now in the UK as a whole the recovery is being led by the housing sector,” the Bank of England governor told the Western Mail. But he added that the market is not in a bubble, and that the Bank will [...]
UK mortgage approvals hit a five-year peak October 29, 2013 BRITISH lenders approved the most mortgages in over five years last month as borrowing costs sank to their lowest in a decade, central bank data showed yesterday, setting the stage for further house price rises. Business lending also picked up – though only for larger firms – but the figures did little to dispel concerns [...]
Letters to the Editor – 30/10 – HS2 flaws, Housing mobility, Best of Twitter October 29, 2013 HS2 flaws [Re: FTSE bosses lose faith in HS2, yesterday] That half of the surveyed FTSE 100 bosses are now against HS2 further underlines why the project has deep faults. The business case for HS2 is flawed, highlighted by the government’s own report, which lowered the expected benefit-cost ratio and revised an assumption that business people [...]
Highest level of new mortgage approvals since February 2008 October 29, 2013 UK mortgage approvals were at their highest levels for five and a half years at 66,735 in September, marginally over economists' estimates of 66,000. Last month's figure was 62,22.6. The figure, reported by the Bank of England, provides, says IHS Global Insight's Howard Archer, compelling evidence that activity in the housing market was already gaining momentum even [...]
What you need to know before the open – 29/10 October 29, 2013 Despite all-time highs for US markets yesterday, it was a mixed finish as the Fed meeting – due to begin today and finish tomorrow – is considered. Asian markets closed lower, too, as investors waited for the policy meeting. European markets are expected to look just as subdued this morning. ETX Capital #morningcall FTSE -4, [...]