How the Northern Powerhouse could boost SMEs – Investec Comment November 8, 2015 Critics of the chancellor's ambition to create a Northern Powerhouse often dismiss the idea as a gimmick. The challenge of rebalancing the UK economy is certainly immense. A recent report by the Centre of Cities showed that gross value added per worker in 2013 in the areas covered by the Northern Powerhouse was 13 per [...]
FTSE 100 falls after interest rates are left on hold – London Report November 6, 2015 The Bank of England’s (BoE) decision to keep interest rates at record lows for the 80th month wasn’t able to prevent the FTSE closing down last night, finishing with a loss of 0.8 per cent at 6,364.9 points. The FTSE had been trading in negative territory throughout the morning ahead the BoE’s announcement but rallied [...]
Cain Hoy partners with China’s largest property company Vanke for £750m Shoreditch project November 5, 2015 China's largest property company has made its first foray into the European market after partnering on the £750m redevelopment of a Shoreditch site where Shakespeare’s Curtain Theatre once stood. Vanke has taken a 21 per cent stake in The Stage, joining a consortium of investors headed by US private equity firm Cain Hoy and joint venture partners MG Partners, Galliard Homes and Investec Property Finance. The [...]
Good news for commuters (at last): Rail fares could rise by the second-lowest level in 20 years November 5, 2015 Next year could be the first time wage growth outpaces rail fares since 2002, if forecasts for retail price index (RPI) are on the mark. Economists spoken to by City A.M. tipped the inflation measure to be around one per cent for July – the month which regulated rail fares are set by. That [...]
Mining giants bounce back to push up FTSE 100 – London Report November 5, 2015 The FTSE 100 ended yesterday’s session slightly higher, boosted by gains in mining companies and Marks and Spencer. The UK’s blue-chip index ended the day 0.46 per cent up at 6,412 points. The day’s biggest riser was Glencore, the embattled mining giant, which has been struggling to reassure investors worried about the size of its [...]
OneSavings Bank results: challenger bank reports a rise in its loan book November 4, 2015 Challenger OneSavings Bank reported a rise in its loan book for the first three quarters today, saying it continued to expect full-year growth to be a “few percentage points ahead” of the 29 per cent growth delivered last year. The specialist lending and retail savings bank first listed on the London Stock Exchange last year. The [...]
At the close: Mining companies Glencore, Anglo American and BHP Billiton take FTSE 100 higher November 4, 2015 The FTSE 100 ended Wednesday's session slightly higher, led by gains in mining companies. The UK's top blue chip index ended the day 0.46 per cent up at 6,412 points. The day's biggest riser was Glencore, the embattled mining giant, which has been struggling to reassure investors worried about the size of its debt pile. It today announced a [...]
Financing for SMEs: Why preparation is key – Investec Comment November 2, 2015 It’s been a fairly regular refrain over the past six or seven years that small businesses can’t access finance. I’ve never been persuaded by that view. It is the case that, due to capital constraints and reductions in headcount, the days when a company could simply call a bank and automatically arrange a loan are [...]
Economists predict Bank of England will hold UK interest rates on Thursday November 1, 2015 Economists have predicted that the Bank of England (BoE) will keep interest rates at 0.5 per cent on Thursday. So-called Super Thursday will see the BoE release a range of information, including the interest rate decision, an inflation report and Monetary Policy Committee (MPC) meeting minutes. Dr Howard Archer, chief UK & European economist at [...]
Antofagasta cuts copper production forecast for the third time this year October 28, 2015 Shares in Antofagasta fell three per cent to 528p per share this morning after the mining firm cut its copper production forecast for a third time this year. The FTSE 100 company cut its full-year copper output guidance to 635,000 tonnes from 665,000, due to delays at its Centinela Concentrates mine in Chile’s Antofagasta Region, 1,350 km north of Santiago. It [...]