UK public borrowing hits record high December 21, 2010 UK public sector net borrowing unexpectedly surged in November to the highest level ever recorded, official figures have shown. The Office for National Statistics said public sector net borrowing, which smoothes some of the monthly volatility in government revenue and spending, came in at a record £22.77bn in November – up from £16.72bn a year [...]
The UK’s largest housebuilder says the road to recovery will be long December 19, 2010 PERSIMMON chief executive Mike Farley is not looking for a magic bullet. The boss of the country’s largest housebuilder is clear that the sector has endured its worst slump since World War Two and faces at least a two-year road to recovery. The industry tends to listen when Farley speaks. Not just because he runs [...]
Three ways to save your pennies overseas December 16, 2010 IF THE estimates of the Association of British Travel Agents (Abta) are to be believed, nearly 4m of us will be heading abroad over Christmas. But whether you’re escaping to sunnier climes or hitting the slopes, here are three tips to help you avoid parting with your cash. 1 BEST CREDIT CARD TO TAKE ABROAD [...]
DTZ narrows losses to £6m December 15, 2010 REAL estate consultant DTZ said yesterday its first half loss narrowed on a strong performance in Asia, as it retained a cautious outlook due to market uncertainty in the UK and Europe. The company yesterday posted a pre-tax loss of £6m for the six months to 31 October, compared to a loss of £20.6m in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 13, 2010 FINANCIAL TIMES US REGULATOR WIDENS STANFORD PROBE TO BROKERS US securities regulators have broadened their investigation into the alleged $8bn Ponzi scheme run by Allen Stanford, the Texan billionaire, to include brokerage executives who invested their clients’ money in Stanford International Bank products. JPMORGAN CUTS BACK ON US SILVER FUTURES JPMorgan has quietly reduced a [...]
FIT IN THE CITY December 13, 2010 FITNESS & DIET EXPERT 1. CHOOSE YOUR POISON WISELY: UNLESS YOU WANT AN OVERHANG like Johnny Vegas, go easy on the beer. An eight pint binge means you’re taking in a whopping 1,600 empty calories – that’s the calorie-equivalent of a very large takeaway. Spirits with diet drinks and champagne make for better waistline choices. [...]
All-round positive outlook for 2011 worrying December 12, 2010 This is it – the last meaningful trading week of the year. This is the final opportunity for anyone wanting to move around a decent amount of stock or trying to place an order without sending prices haywire. The week when the futures and options expire and we all settle in to the two-week lull [...]
HMV shares plunge as its losses mount December 9, 2010 HMV shares dropped nearly 17 per cent yesterday as poor trading figures laid bare the company’s failing turnaround plan. The music, DVD, games and books retailer posted a worse-than-expected widening in first-half losses. Its share price dropped 16.57 per cent yesterday, to 36.50p HMV made an underlying pre-tax loss of £41.3m for the six months [...]
DS Smith posts 17.5pc profit lift December 9, 2010 BRITISH packaging and office products firm DS Smith posted a 17.5 per cent rise in first-half pre-tax profit on strong volume and revenue growth at its recycled packaging business, and said it was upbeat about the second half. The company, whose customers include Procter & Gamble and Nestle, also raised its interim dividend by a [...]
CITY MOVES | WHO’S SWITCHING JOBS December 9, 2010 Adam & Company The private bank has hired Graham Storrie as managing director. He joins from parent company Royal Bank of Scotland, where he was most recently managing director of specialist advice. He brings with him over 30 years of experience in banking, investments and advice, having worked for organisations such as Standard Life, where [...]