London Report: Retailers set to reveal scale of 2013 hangover January 5, 2014 RETAIL figures due this week will reveal whether Britain’s major brands are going into the New Year with a Christmas hangover. Marks & Spencer and Tesco are both set to report on Thursday, and J Sainsbury on Wednesday, with figures likely to show retailers faced a dismal festive season. Debenhams has already set the tone, [...]
Enterprise Inns founder and boss Ted Tuppen to retire November 19, 2013 Ted Tuppen, the founder of Enterprise Inns, is to retire as chief executive officer (CEO) at the end of February 2014. Company shares have climbed over six per cent this morning. (Release) Enterprise Inns is the largest pub owner in the UK, with 5,500 properties valued at £4bn, and Tuppen has been CEO for more [...]
KKR snaps up US landscaper Brickman Group in £1bn deal November 12, 2013 US PRIVATE equity titan KKR yesterday won the race to buy US landscaper The Brickman Group in a deal worth $1.6bn (£1bn). The firm, managed by Wall Street raider Henry Kravis and his cousin George Roberts, beat off a host of rivals – thought to include Blackstone, TPG Capital and UK private equity stalwarts CVC [...]
Bank of England hires Barclays economist to join forecast team November 5, 2013 THE BANK of England said yesterday that it had appointed Barclays’ chief UK economist, Simon Hayes, to head its economic forecasting team. Hayes, who worked at the Bank for eight years before joining Barclays, will be responsible for drafting the central bank’s quarterly economic forecasts and will report to BoE chief economist Spencer Dale. No [...]
City A.M. shadow MPC votes 7-2 to hold again December 4, 2013 ALLISTER HEATH | CITY A.M. “Lift rates by 0.25 per cent. Business surveys are heating up and some economists expect one per cent GDP growth in the final quarter of the year – this is no time for emergency all-time-low interest rates. Furthermore, the situation with the housing market, expecially in London, is worrying.” GRAEME LEACH [...]
Business bosses call for end to dithering on new runway plan November 19, 2013 DISGRUNTLED bosses have urged politicians to end their prolonged “dithering” on expanding Britain’s airports or face losing business to countries willing to allow more runways. More than a hundred corporate heads and business groups have signed the campaign to “Let Britain Fly”, which is backed by London First, the British Chambers of Commerce and the [...]
Our panel votes to hold rates as economy firms January 8, 2014 AS 2014 gets underway, our shadow monetary policy committee votes to keep interest rates and QE unchanged in January. Two members voted for a rate hike again this month, as official statistics responses to business surveys continue to reinforce the view that the UK economic recovery was strengthening as 2013 rolled to an end. Most [...]
City A.M. shadow MPC 7-2 against rate hike November 6, 2013 ALLISTER HEATH | CITY A.M. “With robust growth in the third quarter and a mounting pile of evidence that the UK economy is heating up, the Bank’s record-low interest rates aren’t just wrongheaded, but unsafe. The MPC should hike bank rate to 0.75 per cent.” GRAEME LEACH | INSTITUTE OF DIRECTORS “There is no need for [...]
In brief: Government reshuffle so far October 7, 2013 New appointments:- Sajid Javid: Treasury financial secretary Robert Goodwill: parliamentary under secretary (Department of Transport) Esther McVey: minister of state (employment) Nicky Morgan: Treasury economic secretary Mike Penning: minister of state (Department for Work and Pensions) Don Foster: chief whip Greg Hands: deputy chief whip Alistair Carmichael: Scottish secretary Matt Hancock: minister of state (skills [...]
Our panel more hawkish after strong signals October 9, 2013 WITH recent indicators suggesting that the UK’s economic growth has firmed in the third quarter, City A.M’s shadow monetary policy committee maintains that no further loosening is necessary Two members, Allister Heath and Simon Ward, are now in favour of hiking bank rate by 0.5 per cent and 0.25 per cent respectively, and all support [...]