Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
Investors waiting for Greece put the brakes on FTSE rally February 8, 2012 BRITAIN’S blue chips closed a touch lower yesterday as investors awaited more clarity on a Greek debt deal. Greek party leaders gathered to agree reforms needed to secure a new EU/IMF rescue package necessary to avoid a chaotic default that would aggravate Europe’s financial crisis. Rating agency Standard & Poor’s added pressure on negotiations between [...]
UK banks to see weak loan growth – Citigroup February 8, 2012 UK banks could see weak loan growth in 2012 as households and corporates cut debt levels amid a tough economic environment and regulators press them to raise capital ratios, Citigroup said. Citigroup analyst Andrew Coombs downgraded Royal Bank of Scotland Group to “neutral” from “buy,” and cut his price target on Lloyds Banking Group on [...]
Fund managers voice objections early February 7, 2012 THERE was a time when UK institutional shareholders could be relied upon to back mangements in their takeover aspirations, or at least keep quiet about the whole thing until they had had time to digest all the details. But yesterday both Schroders and Standard Life’s David Cumming (near left), accounting for a total of around [...]
Banks pull FTSE back as Greece crisis festers January 30, 2012 The FTSE 100 tracked losses across Europe in early trading as the negotiations in Athens over Greece’s disastrous finances showed few signs of success. Greece and its private creditors have so far failed to come up with an agreement on debt swap talks, needed to avoid a default. Meanwhile a European summit focused on growth [...]
FTSE flat as UK recession looms January 25, 2012 The FTSE 100 was flat after optimism from strong results from Apple in the US fell away with GDP data showing that Britain is on the brink of recession. Later today the Fed will announce its interest rate decision after the European markets close, with no change expected to the US central bank’s 0.25 per [...]
WHAT’S ON IN DAVOS TODAY January 24, 2012 The World Economic Forum Annual Meeting 2011 opened yesterday and runs until Sunday 30 January. Mayor of London Boris Johnson is due to deliver a keynote speech today on the economic benefits of the 2012 Olympic Games. And Boris will join chancellor George Osborne at a lunch with UK chief executives and public figures Early [...]
WHAT’S ON IN DAVOS TODAY January 24, 2012 The World Economic Forum Annual Meeting 2011 opened yesterday and runs until Sunday 30 January. Mayor of London Boris Johnson is due to deliver a keynote speech today on the economic benefits of the 2012 Olympic Games. And Boris will join chancellor George Osborne at a lunch with UK chief executives and public figures Early [...]
Economists: UK will barely grow in 2012 January 18, 2012 THE ECONOMY will register almost no growth in 2012, according to economists who have slashed previously rosy forecasts made just months ago, figures compiled by the Treasury showed yesterday. Growth forecasts were cut to 0.4 per cent on average for 2012, down from predictions of 0.6 per cent last month and a healthy two per [...]
CITY MOVES | WHO’S SWITCHING JOBS January 17, 2012 Ernst & Young Mark Weinberger has been named as Ernst & Young’s next global chairman and chief executive, succeeding Jim Turley, who will retire on 30 June after leading the firm since 2001. Weinberger currently sits on Ernst & Young’s highest governing body, the global executive, and runs the global tax practice. He previously served [...]
Banks welcome China-UK talks on forex trade January 15, 2012 TWO OF Britain’s biggest banks have welcomed government efforts to establish the City as the world’s biggest centre for trading China’s currency outside Hong Kong. Standard Chartered chief executive Peter Sands and his counterpart at HSBC, Stuart Gulliver, have both committed to send senior representatives to bi-annual lobbying meetings with the Bank of China, Barclays [...]