Wall Street rises as dollar hits new high November 10, 2010 THE dollar hit a one-month high yesterday after data pointed to an improving US labour market while Wall Street rose as investors set aside recent worries whether a rally would continue. But global stocks fell as Ireland’s borrowing costs hit another euro lifetime high and investors worried that a Federal Reserve move announced last week [...]
SSE posts dip in profits but lifts dividend November 10, 2010 ELECTRICITY firm Scottish & Southern Energy yesterday posted forecast-busting first-half profits and pledged to stick to plans to raise its dividend, boosting its shares. SSE blamed high wholesale gas prices and low renewable energy output for a 6.1 per cent fall in adjusted first-half pre-tax profit to £386m, beating market forecasts of £361m. The group’s [...]
Services sector up – but tough times ahead November 3, 2010 Activity in the services sector unexpectedly gathered pace in October – but forecast for the rest of the year are weakening. The figures are likely to support expectations that the Bank of England will vote not to inject more stimulus into the economy this week but leave that option open further down the line if [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 31, 2010 THE SUNDAYS The Sunday Telegraph MAUDE DEMANDS SERCO ANSWER Serco is to be ordered to explain to the government why it took the highly unusual step of writing to its leading suppliers to demand that they pay a blanket 2.5 per cent “cash rebate” on their work this year or risk losing future contracts. Serco, [...]
At a glance: George Osborne’s first comprehensive spending review October 20, 2010 SPENDING FIGURES This fiscal year current expenditure will be £637.3bn. In 2011-12, current spending will be £651.1bn, followed by £664.5bn in 2012-13, £678.6bn in 2013-14 and then £692.7bn in 2014-15. The government will pay £43.3bn of gross government debt interest this fiscal year followed by £46.5bn in 2011-12, £52.4bn in 2012-13, £57.8bn in 2013-14 and [...]
Osborne’s unlikely pin-up: Mr Brown October 20, 2010 POLITICAL EDITOR GEORGE Osborne has always been a master tactician first and an economist second. Yesterday’s highly political spending review was no different. Chief in his mind was closing down the lines of attacks his opponents might pursue. In that sense, he is not dissimilar to Gordon Brown, his predecessor but one and sworn enemy. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 18, 2010 FINANCIAL TIMES CANDOVER POISED TO PULL PLUG ON THEME PARK Candover, the private equity group, is on the brink of ditching plans to sell or float Parques Reunidos, the Spanish theme park operator, after offers from rival buy-out groups came in below its €2bn ($2.8bn) price tag. Apollo Management and a consortium of Advent International [...]
NHS should not be shielded from the axe October 18, 2010 SEVERAL commentators recently have noted that public spending is set to rise in cash terms. Even after adjusting for inflation, total managed expenditure is set to fall by only 3.6 per cent. Can this really be so tough? Answer: emphatically, yes. Even at the overall level, a fall of 3.6 per cent is very significant. [...]
Enter the corporate entrepreneur: Britain’s best hope for real recovery October 17, 2010 CO-FOUNDER, MARKET GRAVITY THE UK’s recovery from the deepest recession in eighty years is dependent on sustained private sector growth. Corporate earnings may be recovering, but too much is due to cost cutting, not real growth, and this trend is not sustainable. Recent analysis from Market Gravity illustrates that while 75 per cent of FTSE [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 7, 2010 FINANCIAL TIMES UK AND FRANCE IN TALKS ON TRIDENT MAINTENANCE An agreement being negotiated by the UK and France would see British nuclear warheads serviced by French scientists and break with half a century in which neither country has collaborated on its independent deterrent. Ahead of a summit in three weeks, the governments are close [...]