City: Bank looks too bullish on forecasts August 8, 2010 THE Bank of England needs to revise down its optimistic growth forecasts and hike its expectations for the path of inflation to bring them into line with other forecasters, City economists have warned ahead of the quarterly Inflation Report on Wednesday. In its May Inflation Report, the central bank forecast that real economic growth would [...]
PMI data will show growth slowing down August 1, 2010 LEADING economic surveys are expected to show this week that the UK continued to grow at a solid pace in July, though economists warned it was unlikely that we would see a repeat of the blistering pace of growth recorded between April and June. All three purchasing managers’ indices (PMIs) to be reported this week [...]
ECONOMIST VIEWS: WHAT DO YOU EXPECT FROM THE PMIS THIS WEEK? August 1, 2010 JONATHAN LOYNES | CAPITAL ECONOMICS “Services output is estimated to have risen by 0.9 per cent in the second quarter but the sharp drop in the business expectations balance in June suggests that the headline activity index could have fallen further in July.” DAVID PAGE | INVESTEC “The manufacturing and services PMIs are likely to [...]
EARNINGS SEASON | CALENDAR August 1, 2010 Monday 2 August Xchanging – UK Thomas Cook – UK Hammerson – UK Tullett Prebon – UK HSBC – UK Intertek – UK Mouchel – UK Qinetiq – UK Berkshire Hathaway – US Warner Music Group – US Linde – Germany BNP Paribas – France Air Liquide – France Tuesday 3 August ITV – UK [...]
Get a lunchtime appetite for running in the #4miler August 1, 2010 EVER thought about upping your fitness levels but just can’t find enough hours in the day? Well, here is an initiative just for you. City.A.M have teamed up with Garmin, leaders in satellite navigation, to bring you the #4miler – giving City workers the chance to reclaim their lunch hours by keeping fit in a [...]
CITY MOVES | WHO’S SWITCHING JOBS July 29, 2010 RBC Wealth Management The wealth manager has promoted Philip Harris to the position of head of private client wealth management for the British Isles. Harris has been at the firm since early last year, when he joined to create a domestic wealth management business. He previously founded financial advisory business Scott Goodman Harris, which was [...]
HSBC in talks with Pinnacle consortium July 25, 2010 THE GROUP hoping to build the Pinnacle skyscraper on Bishopsgate is close to securing financing from HSBC, it emerged at the weekend. Arab Investments (AI) plans to raise £600m from the financing deal, to add to £130m secured from a 60-strong consortium of backers. AI boss Khalid Affara has been courting banks for months in [...]
Real estate group Heron wins a £115m loan facility for City flats July 20, 2010 REAL estate group Heron International has secured a £115m loan facility to finance the construction of The Heron, its residential development near the Barbican. The company said the financing is being provided by Santander, HSBC and Investec, and is the first facility for any significant speculative residential build since the credit crisis. The property giant [...]
BANK CHIEF ‘OGRE’ GETS AN IMAGE OVERHAUL July 20, 2010 FAIRFAX chief executive Stefan Allesch-Taylor is on the blower following a story in this column yesterday about the boutique bank scouting around for a new investor – a move which could potentially usurp the big man’s family trust as the firm’s largest shareholder. Not that Allesch-Taylor’s particular beef is with the story itself, mind. He’s [...]
FTSE knocked for fifth day as US results hit confidence July 20, 2010 BRITAIN’S top share index ended lower yesterday for a fifth straight session as generally disappointing US results hurt investor sentiment, offsetting strong gains from mining stocks buoyed by firmer metals prices. The FTSE 100 closed down 8.82 points, or 0.2 per cent, at 5,139.46, having fallen 0.2 per cent on Monday. TELECOMS HIT BY BUDGET [...]