WHAT THE OTHER PAPERS SAY THIS MORNING March 20, 2012 FINANCIAL TIMES CANACCORD AND COLLINS STEWART TO AXE 100 JOBS Nearly 100 staff will be made redundant tomorrow when Canaccord Financial completes its acquisition of Collins Stewart Hawkpoint, as London’s stockbroking industry continues to shed capacity. The Vancouver Group agreed to buy Collins Stewart for £253.5m in December EU DEFIES CARBON TRADE WAR THREAT The [...]
Latest gadgets and fashionable booze added to ONS list March 14, 2012 THE PRICE of iPads, cans of stout, and packets of foam sweet will all be included in inflation calculations from now on, as the Office for National Statistics (ONS) changes its calculations to reflect evolving spending habits. Every year the official statistics agency updates its list of 18,000 goods and services in an attempt to [...]
House prices fall 0.5 per cent March 6, 2012 British house prices dipped 0.5 per cent in February, largely offsetting January’s 0.6 per cent rise, data from mortgage lender Halifax showed. House prices fell 1.9 per cent in the three months to February compared with a year ago, taking the average price of a home to £160,118. Lower inflation in the coming months should [...]
FTSE flat as ECB pours in more funds February 29, 2012 The FTSE 100 was flat this morning with investors awaiting another injection of cash from the European Central Bank, aimed at propping up the Eurozone. The ECB is expected to pump about 500bn euros (£422bn) into the Eurozone’s financial system to fight the region’s debt crisis, enabling banks to tap as many of the ultra-cheap, [...]
City AM interview Paul Fisher of the Bank of England February 23, 2012 Senior Bank of England official Paul Fisher was interviewed on Wednesday 22nd February 2012, by Allister Heath and Julian Harris from City A.M. The edited transcript is as follows: Paul, would you like to start with how you see the outlook at the moment? I think it continues to be a story where the outlook [...]
Mortgage lending up by 10% February 20, 2012 Gross mortgage lending hit £10.5bn in January, up 10 per cent compared to the same month last year, according to figures from the Council of Mortgage Lenders (CML). Lending fell by 14 per cent from £12.2bn from December but was still substantially up on figures from January 2011. CML chief economist Bob Pannell said he [...]
Repossessions forecast to rise February 9, 2012 HOUSE PRICES are set to fall in 2012 as unemployment rises and household income stays depressed, according to yesterday’s forecasts from the Council of Mortgage Lenders (CML) and today’s LSL house price index and e.surv mortgage monitor. The weak economic outlook is also set to push up repossessions as more borrowers fail to keep up [...]
Why a wealth tax is a very bad idea January 23, 2012 EVERY few months, when the going gets tough for the Liberal Democrats, Vince Cable renews his call for a “Mansion Tax.” With the LibDems slumping to a disastrous 9 per cent in a YouGov poll, against 41 per cent for the Tories and 36 per cent for Labour, it was no surprise to see him [...]
Why a wealth tax is a very bad idea January 22, 2012 EVERY few months, when the going gets tough for the Liberal Democrats, Vince Cable renews his call for a “Mansion Tax.” With the LibDems slumping to a disastrous 9 per cent in a YouGov poll, against 41 per cent for the Tories and 36 per cent for Labour, it was no surprise to see him [...]
BofA chief exec Moynihan gets board backing January 16, 2012 BANK of America chairman Chad Holliday yesterday gave his “100 per cent” support to his under-pressure chief executive Brian Moynihan, who has presided over a steep decline in the group’s share price. Bank of America is the parent company of BoA Merrill Lynch, which employs thousands of bankers in the City. Holliday made the comment [...]