Inflation expectations at two year high December 16, 2010 Britons expect a higher rate of inflation over the coming year than at any time since August 2008, suggesting concern about a looming sales tax rise and rising food prices, a Bank of England survey showed on Thursday. The Bank’s November inflation attitudes survey showed that the public expect inflation of 3.9 per cent over [...]
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 [...]
Inflation hits highest level in six months December 14, 2010 ABOVE target inflation rose further in November, jumping higher than economists expected, official data showed yesterday. The news cast further doubt over the Bank of England’s loose policy and monetary stimulus. “Another round of quantitative easing was always a long shot and this will reduce the odds still further,” said economist Andrew Goodwin of the [...]
Boost for US retailers as strong holiday sales offer hope for American recovery December 14, 2010 THE Fed’s second phase of quantitative easing (QE2) came under attack yesterday, after jumps in retail sales, business morale and inflation. Retail sales for November increased by 0.8 per cent, and figures for the previous month were revised upwards to show a 1.7 per cent rise. “Today’s figures suggest that QE2, announced on 3 November, [...]
Inflation rises to six-month high December 14, 2010 Consumer price inflation rose unexpectedly to a six-month high of 3.3 per cent in November, driven by rises in the cost of food and clothing, according to the Office for National Statistics. The figures will disappoint Bank of England policymakers who are concerned that rising commodity prices may aggravate the impact of a rise in [...]
Weir guilty over oil for food December 13, 2010 Engineering firm Weir Group announced yesterday it would plead guilty to two charges of breaching UN sanctions over oil-for-food contracts it was awarded by Saddam Hussein between 2000 and 2002. Weir was formally charged with the offences by the Crown Office in Scotland yesterday and it is expected the case will be heard at the [...]
Mining firms haul FTSE 100 to highest level in five weeks December 13, 2010 Strong miners pushed Britain’s top share index to a five-week closing high on Monday, buoyed by firmer metals prices on strong economic data from China, while sector consolidation moves gave oil services firms a fillip. The FTSE 100 closed up 47.80 points, or 0.8 per cent, at 5,860.75, its highest close since 9 November, albeit [...]
Manufacturer input costs rise December 13, 2010 Manufacturers’ input costs rose slightly faster than expected in November and at the fastest annual rate since July, official data showed, according to the Office for National Statistics (ONS). The ONS said that annual producer input price inflation picked up to nine per cent from 8.2 per cent in October, above economists’ forecasts of a [...]
China hints at rates increase December 12, 2010 CHINA may increase interest rates, after state media yesterday confirmed that more “prudent” monetary controls would replace the previous “appropriately loose” policy. “Strategic economic restructuring will be accelerated and stabilising price levels will be given a more prominent position,” state media reported at the end of yesterday’s Central Economic Work Conference in Beijing. Consumer prices [...]