Fabulous Fabrice Tourre set for a fight to clear his name July 18, 2010 FABRICE Tourre, the man named in the SEC allegations of fraud against Goldman Sachs, is today expected to file a defence document in court insisting that he will continue to fight to clear his name. Tourre’s decision comes in spite of Goldman’s move last week to reach a settlement with the regulator, under which it [...]
No compensation for B&B investors July 5, 2010 The Treasury does not have to pay compensation to former shareholders of buy-to-let lender Bradford & Bingley (B&B), an independent valuer said yesterday. B&B, a leading buy-to-let mortgage provider that was hit by a sharp rise in funding costs during the financial crisis, was taken into public ownership in September 2008 and its shares were [...]
Enter the corporate entrepreneur: Britain’s best hope for real recovery October 17, 2010 CO-FOUNDER, MARKET GRAVITY THE UK’s recovery from the deepest recession in eighty years is dependent on sustained private sector growth. Corporate earnings may be recovering, but too much is due to cost cutting, not real growth, and this trend is not sustainable. Recent analysis from Market Gravity illustrates that while 75 per cent of FTSE [...]
BP and energy peers propel the FTSE while banks drag September 8, 2010 EENERGY stocks led by BP pushed Britain’s top shares higher yesterday, outpacing falls in banks that were weighed down by European recovery concerns. The FTSE 100 closed up 21.92 points, or 0.4 per cent, at 5,429.74, after breaking a seven-session winning streak to close down 0.6 per cent on Tuesday at 5,407.82. Meanwhile the FTSE [...]
Government cuts private pension costs July 8, 2010 THE government yesterday outlined plans that will shave billions of pounds off the private sector’s pension bill, by reducing the amount that pension payments must rise in line with inflation. In future, payments for those on final salary schemes will rise in line with inflation as measured by the consumer price index (CPI), as opposed [...]
Pack a tax plan if you want a retirement on the beach September 2, 2010 IF YOU are tempted to spend your golden years in the sun and escape overcrowded, polluted London, you are not alone. Emigration from the UK reached a record high in 2008 and that was before the introduction of a 50 per cent higher tax rate and the impending austerity measures. But planning is essential if [...]
Medium-term UK gilts outlook remains rosy August 15, 2010 IN WHAT was one of the most important Fed meetings of recent times last week, the US central bank moved to support lower borrowing costs by reinvesting funds from maturing mortgage-backed securities in longer term government bonds. While this had been touted as a potential option for the Fed, most thought it would save some [...]
FOREX HAS A NEW ORDER August 17, 2010 IT WAS not so very long ago that the dollar was firmly in favour among currency traders seeking a safe haven from UK political upheaval and the sovereign debt turmoil in the Eurozone. But now the greenback is struggling too thanks to a raft of poor economic data, fears of a double-dip in the American [...]
Choosing the right lender is crucial in a tough market June 3, 2010 HOUSES are selling like hotcakes thanks to fierce competition among buyers. The latest monthly survey from the Royal Institution of Chartered Surveyors (RICS) showed that houses are shifting quicker than new ones could come on to the market, despite the number of new sellers increasing. Even the dreaded gazumping is back. In such a market, [...]
Barratt hikes profit forecasts July 14, 2010 BARRATT Developments yesterday said its full-year profits would come in above expectations as it continues to focus on maximising selling prices while keeping a lid on costs. The UK’s third largest housebuilder has pencilled in an operating profit of at least £85m with margins rising to four per cent. The average selling price rose by [...]