Doubts grow over QE end January 26, 2010 THE lower than expected economic growth figure may delay the ending of Quantitative Easing (QE), according to Citi economist Michael Saunders. “Before these data, we judged that there was little chance that QE would be extended at next week’s MPC meeting. “These data introduce considerable uncertainty, but on balance we still believe that the MPC [...]
ECONOMIC DIARY February 21, 2010 AFTER a week packed with economic data releases, the next five days promise to be a bit quieter. Last Thursday, the US Federal Reserve hiked the rate it charged banks to hold reserves in a surprise move that signalled a return towards more normal monetary policy. On Wednesday Fed chairman Ben Bernanke will be giving [...]
HOW MUCH WEIGHT SHOULD WE PLACE ON TOMORROW’S GDP FIGURE? January 24, 2010 DAVID PAGE | INVESTEC Sharp changes in the economy have led to significant deviation between the official series and anecdotal evidence. We continue to attach weight to the more buoyant assessments from the CBI and the PMI surveys. There is plenty of room for surprises at this first estimate. JAMES KNIGHTLEY | ING At this [...]
Fears deficit rivals Greece February 18, 2010 THE dire state of Britain’s public finances was thrown into sharp relief yesterday after official statistics revealed that the government was forced to be a net borrower in January – the first time this has happened since records began in 1993 – as tax revenue plunged in a month that is usually a bumper one [...]
Businesses criticise plans for six months’ paternity leave January 28, 2010 BUSINESS leaders yesterday criticised new laws giving fathers the right to six months’ paternity leave. Currently fathers get just two weeks leave after the birth of their child, but the new legislation – which is being spearheaded by deputy Labour leader Harriet Harman – effectively allows parents to divide the mother’s twelve-month maternity allowance between [...]
City gets New Year jitters as outlook dims January 10, 2010 BANKS and securities traders expect profits to flatten in the coming quarter, indicating weak short-term expectations among City players. Sentiment across the Square Mile is downbeat as the New Year gets underway, according to a survey by the CBI and PricewaterhouseCoopers. The report found the majority of financial services firms were concerned the booming business [...]
Blank makes comeback as UKTI adviser February 1, 2010 FORMER Lloyds Group chairman Sir Victor Blank has been brought in to advise the government on attracting overseas investment to the UK. Sir Victor, who resigned from the Lloyds board last year in the wake of its ill-fated takeover of HBOS, has taken a seat on a panel set up by Prime Minister Gordon Brown [...]
Government wasted hundreds of millions on training places, MPs say January 20, 2010 THE government wasted hundreds of millions of pounds of taxpayer money to fund training places that employers would have stumped up for, according to an influential group of MPs. In a highly critical report published today, the public accounts committee will say that the government’s Train to Gain programme has been “mismanaged from the outset”. [...]
Five blue chip bosses back Tory pledges February 2, 2010 THE TORIES yesterday wheeled out a series of business leaders who support their plans for the economy. Xstrata chief executive Mick Davis and Kingfisher boss Ian Cheshire were among five FTSE 100 bosses endorsing a new set of Tory policies that included a pledge to safeguard Britain’s AAA credit rating. Autonomy chief executive Mike Lynch, [...]
The City is back but under new management December 21, 2010 BRITAIN’S financial landscape has been transformed since we last shone a light on the City’s most powerful figures two years ago. The City A.M./CityJet Power Hundred 2011 list ranks the most influential figures in UK finance as we head into the new year. It should be no surprise that it is very different from 2009. [...]