ARE YOU WORRIED ABOUT RISING RENTS? July 14, 2011 TOM SCARLETT | GFT “I am willing to pay more rent, because whilst it is expensive, it does allow me to live reasonably well within the city. If I was to get on the property ladder, my wife and I wouldn’t be able to afford anything central, and I am not ready for the commute [...]
Settlement to cost Bank of America $8.5bn June 29, 2011 BANK of America (BoA) confirmed that it has settled with mortgage bond investors yesterday, agreeing to pay out $8.5bn to 22 investors who lost money on products they bought before the financial crisis. The bank said that it expects to suffer charges of over $20bn overall, which will push its second-quarter results into the red. However, [...]
All three parties are failing UK business: Digby Jones lays out his policy challenge October 9, 2011 NOW that all the nonsense of party conference season is over, as Westminster heads back to work and the rest of us continue to try and earn an honest living, what did we hear from the mouths of our political masters? Did any of the three main parties show the UK business community that they [...]
All three parties are failing UK business: Digby Jones lays out his policy challenge October 9, 2011 NOW that all the nonsense of party conference season is over, as Westminster heads back to work and the rest of us continue to try and earn an honest living, what did we hear from the mouths of our political masters? Did any of the three main parties show the UK business community that they [...]
Chair role for ex-FSA chief June 19, 2011 FORMER Financial Services Authority (FSA) chairman Sir Callum McCarthy has thrown his weight behind a new mortgage business. Sir Callum is to become the chairman of Castle Trust, a new mortgage firm. He will be joined on the board by a star-studded list of City names, including Lord Deben, the chairman of the Association of [...]
Lloyds will be hit by fall in house prices June 1, 2011 LLOYDS would be the hardest hit of the UK banks by an expected decline in house prices over the next two years, according to analysts at Morgan Stanley. A note released yesterday by researchers at the bank painted a more pessimistic view of the housing market than analysts had previously predicted, with a 10 per [...]
Companies don’t pay taxes: we do. A Tobin Tax will cost us far more than it collects September 21, 2011 GLORY be, we are to be saved! As the TUC, President Nicolas Sarkozy, Chancellor Angela Merkel and the European Parliament agree, impose a Financial Transactions Tax (FTT) upon the banks and Europe, or at least the euro, will be saved. The banks shall pay for their errors and kittens will gambol in sunshine once again. [...]
Tensions rising again in the markets August 25, 2011 WHEREVER one looks, there is danger in the air. Global equities are down 10.2 per cent in August and 11.3 per cent in the year to date. European and UK shares are down 13 and 10.4 per cent respectively in August, and 16.8 per cent and 11.5 per cent so far this year, Evolution Securities [...]
Swiss move signals end of the phoney war September 6, 2011 YESTERDAY morning, the Swiss National Bank (SNB) took the bold move to put in place currency controls in the form of a minimum exchange rate between the euro and the Swiss franc at SFr1.20. The SNB said that it will protect the franc “with the utmost determination.” The SNB has also indicated that it is [...]
BEST OF THE BROKERS July 6, 2011 ASSOCIATED BRITISH FOODS Deutsche Bank rates the food-to-fashion conglomerate as a “hold” and raises its target price from 950p to 1,050p, seeing extremely favourable dynamics in European sugar as likely to keep prices high and generate a major windfall for the group. The broker upgrades its 2011-12 earnings per share forecast by £70m or around [...]