Slump in Japanese exports to harm GDP growth as inflation falls again November 25, 2010 JAPAN’S export market stalled in October, failing to grow on the previous month, it was announced yesterday. Compared to October 2009 Japanese exports grew 7.8 per cent, yet this was below the Bloomberg median projection of 10.7 per cent – and far weaker than September’s year-on-year growth of 14.3 per cent. Year-on-year improvements peaked in February, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 24, 2010 FINANCIAL TIMES TOYOTA STILL ON ALERT AFTER CRISIS Toyota remains on a “crisis” footing a year after the first of a wave of recalls of more than 12m vehicles, an executive at the Japanese carmaker has said. Shinichi Sasaki, the board member responsible for quality, told the Financial Times: “I don’t think the crisis is [...]
Resolution ditches Citi November 24, 2010 RESOLUTION, the life funds group run by Clive Cowdery, yesterday ended its broking relationship with Citigroup following the summer departure of Andrew Thompson, one of the bank’s most senior corporate brokers. Sources said that Resolution was “very much a relationship driven company” and that Thompson’s departure to Deutsche Bank was bound to make a difference [...]
Barclays sets up new office in Hong Kong November 24, 2010 BARCLAYS Wealth has set up a booking centre in Hong Kong, the firm announced yesterday, as part of its plans to quadruple assets under management and double its number of private bankers in Asia over the next four years. An undisclosed number of UK staff will temporarily relocate to help set up the booking centre, [...]
Incomes boost for US hopes November 24, 2010 Consumer growth could hold the key to a US recovery, a survey showed yesterday. Personal incomes were up 0.5 per cent in October according to the Personal Income and Outlays report compiled by the US Bureau of Economic Analysis. “Growth in personal income is increasingly being driven by wages and salaries, rather than government transfers,” [...]
Success of ETFs among private investors hangs on regulation November 24, 2010 GIVEN that exchange-traded products (ETP) have been available in the UK for just over a decade, the speed at which they have managed to penetrate the private investor market can only be described as glacial. Around 85 per cent of the European ETP market is still institutional. Yet there are signs that private investors are [...]
Resolution replaces Citigroup as corporate broker November 24, 2010 RESOLUTION, the life funds group run by Clive Cowdery, ended its broking relationship with Citigroup today following the summer departure of Andrew Thompson, one of the bank’s most senior corporate brokers. Sources said that Resolution was “very much a relationship driven company” and that Thompson’s departure to Deutsche Bank was bound to make a major [...]
Sales of super-high heels lift sales at Kurt Geiger stores November 23, 2010 LUXURY shoe brand Kurt Geiger has reported a 25 per cent rise in turnover in the nine months to November this year, as ladies have flocked to buy its coveted 120mm-high heels. Sales of its highest heels quadrupled compared with a year earlier, it said in its third quarter trading update. Sales of red and [...]
French business growth slows November 23, 2010 There was mixed news for France yesterday as business leaders signalled a slight decline in the economic outlook, in spite of positive growth figures released by Markit (see left). While the French Purchasing Managers’ Index (PMI) rose above the Eurozone average in November, the INSEE business climate index fell to 100 points, down from 104 [...]
CONTAGION IS STILL A RISK FOR THE EURO November 23, 2010 BORIS SCHLOSSBERG DIRECTOR OF CURRENCY RESEARCH, GFT AFter several weeks of tense negotiations and turbulence in the credit markets, Ireland accepted a financial aid package from EU and the IMF. Although the size of the deal will not be known for days, analysts put the total at about €100bn – 40 per cent of the [...]