Lloyds believes shake-up gives it lowest costs September 24, 2013 LLOYDS’ cost of equity should soon be the lowest in the industry, chief executive Antonio Horta Osorio claimed in a speech yesterday. He argued the bank’s cost-cutting and its new focus on the UK mean it is set to become among the most efficient in the sector. It came as the bank announced the sale [...]
City Moves for 24 September 2013 | Who’s switching jobs September 23, 2013 Rockspring The property investment company has announced the appointment of David Thomas as European director responsible for its fund accounting team. Thomas was most recently at PwC, where he spent nine years specialising in investment management and real estate. Barclays The bank has recruited Peter Horrell as chief executive of its wealth and investment management [...]
Consumer sentiment climbs on back of housing market boost September 22, 2013 CONFIDENCE in the economy is still rising among consumers, with a survey released today showing the strongest sentiment since it began three years ago. Lloyds’ consumer sentiment index has risen by 10 points since the start of the year, rising from 105 to 115, fuelled by an increase in housing market activity. Overall, 18 per [...]
Osborne in denial over housing bubble September 22, 2013 London house prices are up 10pc in a year. So why does the chancellor say there’s no bubble? CHANCELLOR George Osborne has rejected suggestions that his policies are creating a housing bubble, even as new evidence emerges that prices are soaring in London. In an interview yesterday, Osborne said: “I don’t see the evidence of [...]
Osborne in denial over housing bubble September 17, 2013 London house prices are up 10pc in a year. So why does the chancellor say there’s no bubble? CHANCELLOR George Osborne has rejected suggestions that his policies are creating a housing bubble, even as new evidence emerges that prices are soaring in London. In an interview yesterday, Osborne said: “I don’t see the evidence of [...]
London Report: FTSE drops from six week highs on Lloyds sale September 17, 2013 THE UK’S top share index fell off one and a half month highs yesterday, with Lloyds bank among the worst stocks, while traders held off adding to positions in fear of the US Federal Reserve reducing stimulus measures. The blue-chip FTSE 100 index closed down by 0.8 per cent, or 52.69 points, at 6,570.17 points [...]
All taxpayers should have a chance to benefit from the Lloyds privatisation September 17, 2013 THE SUCCESSFUL sale of 6 per cent of Lloyds to institutional shareholders was a crucial first step in returning the bank to full private ownership. That the government has been able to obtain a price above the initial purchase price – and well above the price in the national accounts – is particularly positive. Indeed, [...]
Barack Obama should make Donald Kohn the next Fed chief September 16, 2013 IT WAS pretty sickening, to say the least, to see so many investors cheer the prospect of even easier US monetary policy yesterday. The news that Larry Summers was pulling out of the race to be the next Fed chairman led to a boomlet across a slew of asset classes, bolstering emerging markets in particular. [...]
What the other papers say this morning – 17 September 2013 September 16, 2013 FINANCIAL TIMES Record Saudi oil output in supply gap The trigger for the jump in Gulf production has been huge disruption to supplies from Libya, where striking workers and militias have reduced exports from about 1m b/d to merely a trickle. Saudi Arabia has responded by pushing output to 10.2m barrels a day in August, [...]
Letters to the editor – 17/09 – House price bubble, Best of Twitter September 16, 2013 House price bubble [Re: Artificially limiting rises in house prices will do more harm than good, yesterday] Philip Booth is the voice of reason, rightly pointing out that we have one of the most restrictive land-use planning policies in Europe. I am surprised that the Royal Institute of Chartered Surveyors has called for these limiting [...]