THE MEN GOING PAUNCH TO PAUNCH IN 2010 FAT BANKERS COMPETITION December 16, 2010 WITH another eight days to go before the turkey is even dished out, some of us may have already had our share of mince pies and bucks fizz. But not everyone has been so indulgent. Two bankers in particular have successfully resisted the temptations of the festive season and are on track to shed almost [...]
Inflation fear up, but Posen unconcerned December 16, 2010 SUPPORTERS of a rise in interest rates were compared to “global warming deniers” yesterday by a leading Bank of England rate setter. Adam Posen said that judging the economy on “temporary” high inflation and growth levels was like denying global warming “every time we had a bad winter.” Expecting economic conditions to continue was similar [...]
High street sales edge up in November but retailers sweat over big item sales December 16, 2010 HIGH street sales were up in November, official figures showed yesterday. Sales rose 1.1 per cent on the previous year, and have now increased for every month since February, according to the Office for National Statistics (ONS). The news came as John Lewis announced a sales boost of 12 per cent so far this week, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 15, 2010 FINANCIAL TIMES SIENNA MILLER CLAIMS REIGNITE HACKING ROW Lawyers representing the actress Sienna Miller have alleged that a senior executive at the News of the World ordered a private detective to hack into her mobile phone voicemail account, reigniting a controversy over journalistic practices at the tabloid Sunday newspaper. GOLDMAN’S SZE TO LEAVE FOR HEDGE [...]
Factory boost for America’s slow recovery December 15, 2010 BROAD based rises in consumer prices and manufacturing were warmly received in the US yesterday, following the Federal Reserve’s final meeting of the year on Tuesday. Positive industrial production figures offer hope for the American economy as it stutters towards recovery. Overall production rose 0.4 per cent in November, despite a huge drop in automobile [...]
DTZ narrows losses to £6m December 15, 2010 REAL estate consultant DTZ said yesterday its first half loss narrowed on a strong performance in Asia, as it retained a cautious outlook due to market uncertainty in the UK and Europe. The company yesterday posted a pre-tax loss of £6m for the six months to 31 October, compared to a loss of £20.6m in [...]
Weak banks drag on FTSE as Moody’s warns on Spain December 15, 2010 BRITAIN’S leading share index slipped back yesterday, snapping a four-session winning streak, with banks the worst performers as investors’ risk appetite waned on fresh eurozone debt concerns. The FTSE 100 ended down 9.03 points, or 0.2 per cent at 5,882.18, having finished at its highest close for 30 months on Tuesday after putting on 1.7 [...]
Look closer to home to play the emerging markets’ story December 15, 2010 EMERGING markets have been one of the most popular trades of 2010. If it wasn’t concerns about the outlook for developed markets and the desire for higher returns further afield, it was Fed-fuelled liquidity that was driving flows towards the developing economies. The case for investing in equities rather than bonds is becoming stronger by [...]
THE TIPSTER December 15, 2010 NOW that the Chinese inflation figures are out and the People’s Bank of China has once again refused to raise rates, fears that European commodity stocks might suffer on the back of slower Chinese growth have subsided slightly. This might offer an opportunity for the likes of gold miner Randgold Resources to bounce off the [...]
Euro worries push banks down, leave FTSE flat December 15, 2010 THE FTSE tipped up to 5897 briefly this afternoon but sank again to close flat at 5882, dogged by Eurozone worries and poor performances by the banks. Barclays was the top FTSE100 faller, down 3.7 per cent as worries resurfaced over European sovereign debt, caused by Moody’s announcement that it was reviewing Spain’s credit rating, [...]