Profits propped up at Goldman April 19, 2011 GOLDMAN Sachs saw earnings and revenues drop compared to last year, with the financial advisory division of its investment bank losing market share and its brokerage seeing revenues fall by more than a fifth. Pre-tax profits fell by 22 per cent to $4bn (£2.45bn) despite a smaller fall of seven per cent in revenues, which [...]
Profits propped up at Goldman April 19, 2011 GOLDMAN Sachs saw earnings and revenues drop compared to last year, with the financial advisory division of its investment bank losing market share and its brokerage seeing revenues fall by more than a fifth. Pre-tax profits fell by 22 per cent to $4bn (£2.45bn) despite a smaller fall of seven per cent in revenues, which [...]
EU is set for its own sub-prime crisis April 18, 2011 HUMAN beings have an infinite capacity for self-delusion, especially when it comes to matters financial. I still remember how, in late 2006 and early 2007, all too few investors, financiers, commentators and regulators wanted to believe that the US property market was in the early stages of a crash or that there was anything to [...]
EU is set for its own sub-prime crisis April 17, 2011 HUMAN beings have an infinite capacity for self-delusion, especially when it comes to matters financial. I still remember how, in late 2006 and early 2007, all too few investors, financiers, commentators and regulators wanted to believe that the US property market was in the early stages of a crash or that there was anything to [...]
ECB should hike rates – but don’t forget Spain April 3, 2011 It is all but certain that the ECB will raise rates this week. It has been itching to do so for some time. Now that the moment has arrived what will the move actually mean for the Eurozone and the global economy? The simple answer is probably not very much. The move has been well [...]
Inflation dips on food prices April 12, 2011 INFLATION surprisingly slowed to four per cent in March, down from February’s 28-month high of 4.4 per cent, the Office for National Statistics (ONS) said yesterday. Consumer prices rose 0.3 per cent from February to March, yet compared to the same months last year inflation slowed by 0.4 per cent. Food discounts by the UK’s [...]
Economic lessons from the last Royal Wedding April 25, 2011 SO, it’s Royal Wedding week – how exciting! I have decided to become a Royalist this week because we all get an extra day of holiday to celebrate Kate and Wills’ big day on Friday. Who cares if UK economic output suffers further as a result? Last week I was temporarily a staunch Republican as [...]
Housebuilder Berkeley sees earnings at top end March 18, 2011 Housebuilder Berkeley Group Holdings expects to post full-year earnings towards the top end of expectations after winter sales reservations jumped and visitor numbers held steady. The company, which specialises in luxury flats, also said that it hoped to achieve further earnings growth in the coming year, should market conditions permit. Sales reservations in the November [...]
Housebuilder Berkeley sees earnings at top end March 18, 2011 Housebuilder Berkeley Group Holdings expects to post full-year earnings towards the top end of expectations after winter sales reservations jumped and visitor numbers held steady. The company, which specialises in luxury flats, also said that it hoped to achieve further earnings growth in the coming year, should market conditions permit. Sales reservations in the November [...]
What the other papers say this morning February 28, 2011 FINANCIAL TIMES NORTHERN ROCK TO OFFER 90 PER CENT MORTGAGES Northern Rock is poised to launch a range of mortgages offering up to 90 per cent of a property’s value, marking the nationalised bank’s return to riskier lending three years after its collapse and government bail-out. The lossmaking lender could make the new high loan-to-value [...]