Bullish US fails to prop up the FTSE as Eurozone fear weighs on stocks November 14, 2012 UK shares fell yesterday, testing a two-month low but failing to break a main support level as growth fears in Europe led stocks that are vulnerable to a downturn in economic activity lower. The FTSE 100 index was down 1.1 per cent at 5,722.01 points at the close, having gained 0.3 per cent in the [...]
The Bank of England needs a new method for predicting UK growth November 14, 2012 THIS week’s barrage of economic figures confirmed a gloomy picture for Britain. The Bank of England’s inflation report suggests sluggish growth into next year – just 1 per cent in 2013. Jobs figures show high (though falling) unemployment – still at 7.8 per cent of the workforce. And Tuesday’s rise in inflation confirmed a squeeze [...]
Failure to control inflation damages Britain’s recovery November 13, 2012 THE Bank of England sets interest rates to keep inflation low to preserve the value of your money,” reads the puff on the front page of the Bank’s website. But it’s done a poor job recently. The 2.7 per cent annual rise in the consumer prices index (CPI), announced yesterday, is better than last September’s [...]
Sandy casts a shadow over Catlin growth November 12, 2012 LLOYD’S of London insurer Catlin yesterday revealed that its New York office remains closed following Hurricane Sandy – and it does not know how much it will have to pay out to those affected by the storm. The firm said it would be some time before the true cost of the damage is assessed due to [...]
Shops tell Osborne to lift sector by going easy on new tax hikes November 12, 2012 RETAILERS yesterday sent a list of demands to George Osborne ahead of the chancellor’s Autumn Statement next month, calling for measures to save the struggling sector. Osborne should freeze business rates, scrap the delayed plans to increase fuel duty, and ensure that the minimum wage does not rise at a rate that “does not exceed [...]
Firms fret over next steps for energy supply November 12, 2012 BUSINESSES are increasingly worried about the UK’s attempts to bridge a looming energy gap, according to a survey out today. As the coalition races to secure replacements for ageing nuclear and coal power stations and fuel bills soar, research showed that almost six in 10 large businesses think energy security is becoming a “major concern” [...]
Mixed corporate earnings see FTSE end down as Eurozone fears grow November 8, 2012 BRITAIN’S top share index fell yesterday as mixed earnings reports combined with concerns about the Eurozone’s economy and debt troubles to weigh on sentiment. Tate & Lyle and Land Securities were among fallers in heavy volumes after releasing disappointing earnings updates. Land Securities had gained 25 per cent year to date, with Tate & Lyle [...]
What the other papers say this morning November 7, 2012 THE TIMES EADS offices raided over Austria sale Police have raided several offices belonging to the European aerospace and defence group EADS as part of an inquiry into whether bribes were paid to smooth the sale of Eurofighter Typhoon jets to Austria. THE WALL STREET JOURNAL Occidental Petroleum vying for Yates Occidental Petroleum is among [...]
Rapid responses October 30, 2012 EU budget battles [Re: Cameron should wield the UK veto and block the EU’s bloated budget, yesterday] Priti Patel is emerging as the rising star of the Conservative party, and this spirited encouragement for David Cameron to stand firm on ridiculous EU budget demands just adds to her support for tax reform earlier this week. [...]
EDF hikes energy prices October 26, 2012 Energy firm EDF today announced that gas and electricty prices would rise by 10.8 per cent from 7 December. It follows in the footsteps of rivals Scottish Power, Centrica, npower and SSE, who have all raised prices in the last few weeks, although EDF’s is the biggest so far. The rise will add £2.35 a [...]