BEST OF THE BROKERS June 30, 2010 LLOYDS BANKING GROUP Credit Suisse has given Lloyds Banking Group an “outperform” rating. It upgraded forecasts for the bank last month after flagging that sustained low interest rates would allow for a £4bn increase in mortgage revenues over the next three years. Base rate expectations have since fallen to record lows, notes Credit Suisse. RESOLUTION [...]
At a glance: All the crucial points from Osborne’s emergency Budget June 22, 2010 THE ECONOMY/PUBLIC FINANCES • The Office for Budget Responsibility (OBR) published fresh forecasts in light of the measures announced yesterday by chancellor George Osborne. • GDP growth will be 1.2 per cent in 2010, accelerating to 2.3 per cent in 2011, 2.8 per cent in 2012 and 2.9 per cent in 2013. The pace of [...]
Great progress on the deficit – but far too many unnecessary tax hikes June 22, 2010 WE?were told to expect a tough Budget, with lots of pain, and that was exactly what we got. Many of the policies announced were necessary; others, however, are clearly misguided. On balance, however, this Budget will leave Britain in a stronger position –?not something that could usually be said of the previous government’s efforts. George [...]
WHAT DOES THE CHANCELLOR’S BUDGET MEAN FOR YOU? June 22, 2010 KATE SOLWAY, 30 FUNDS CONTROLLER AT PRIVATE EQUITY FIRM COGNETAS Kate is single and lives in rented accommodation. She also owns two investment properties – one a London flat with a mortgage which she rents out, and the other a holiday home under construction in west Africa’s Cape Verde, on which she does not have [...]
Austerity won’t lead to a double-dip June 22, 2010 RESEARCH DIRECTOR, FOREX.COM JANE FOLEY The pivotal question in the run-up to yesterday’s emergency Budget was whether it would knock the economy into a double-dip recession. This debate had been raging for months – indeed, the Labour Party campaigned hard on the assertion that too much austerity too soon could tip the economy back into [...]
Further upside to come for the Swedish krona June 15, 2010 EVENTS in the Eurozone periphery have unsurprisingly continued to grab traders’ attention over the past couple of months. But while foreign exchange investors are concentrating on the southern and eastern fringes of the single currency area, opportunities are opening up on the northern edge. The balance sheets of the eastern European and Club Med states [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 9, 2010 FINANCIAL TIMES BACKLASH OVER INDIAN FLOAT RULES India is facing a growing private sector backlash against a rule change that will lead to a flood of more than $50bn of new shares being listed over three years. There are concerns that the move could damage the country’s stock market and hamper economic growth. The Finance [...]
Hungary to punish banks and ban home loans in foreign currencies June 8, 2010 HUNGARY’S Prime Minister vowed to introduce a flat income tax and a tariff on banks, cut public pay and ban foreign currency mortgages as he strove to reassure investors he could contain the budget deficit. After sweeping an April election with a two-thirds majority, Viktor Orban unveiled a programme departing from that of the previous [...]
Choosing the right lender is crucial in a tough market June 3, 2010 HOUSES are selling like hotcakes thanks to fierce competition among buyers. The latest monthly survey from the Royal Institution of Chartered Surveyors (RICS) showed that houses are shifting quicker than new ones could come on to the market, despite the number of new sellers increasing. Even the dreaded gazumping is back. In such a market, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 2, 2010 FINANCIAL TIMES ROLLS-ROYCE SPIRITS BUOYED BY GHOST Rolls-Royce says it will at least double its sales this year, thanks to the launch of its new Ghost model and a resurgance in demand for its high-priced cars around the world. Sales of the BMW-owned brand’s cars in China, where Rolls-Royce has seven dealerships, will for the [...]