Wall St surges as confidence picks up September 1, 2010 WALL Street posted its best day in eight weeks yesterday as investor mood brightened after better-than-expected factory data from the United States and China. Investors jumped on stocks across the market, with more than six shares rising for every one that fell on the New York Stock Exchange, while on the Nasdaq, nearly five stocks [...]
GM snaps up AmeriCredit July 22, 2010 US car giant General Motors (GM) yesterday said it would acquire auto finance company AmeriCredit for $3.5bn (£2.29bn) in cash in a deal aimed at easing financing terms for subprime car buyers. The deal, which remains subject to approval by AmeriCredit’s shareholders, would give GM a captive finance arm for the first time since it [...]
Darling stamps on City workers March 24, 2010 ALISTAIR Darling stepped up his war on banks and the wealthy yesterday, but he refused to announce a raft of gimmicky pre-election giveaways. Delivering what is likely to be his last Budget, he continued to clobber the better-off by unveiling a new top rate of stamp duty. Amid cheers from the Labour backbenches, Darling said [...]
Darling and Cameron slug it out March 24, 2010 LISTENING to Alistair Darling speak for almost an hour was never going to be an exciting experience, but yesterday he was political diazepam. At one point I expected the whips to come round handing out Pro Plus. John Denham, the local governments minister, in particular appeared to be battling with unconsciousness. The only person who [...]
US housebuilders gloomy as job market woes weigh January 19, 2010 CONCERNS about the poor job market and a further wave of home foreclosures depressed the confidence of US housebuilders in early January, an industry trade group reported yesterday. The home builders’ sentiment index declined to 15 in January from 16 in December, the National Association of Home Builders reported. The index, now at the lowest [...]
Bovis boost to housing market January 14, 2010 BOVIS is the latest housebuilder to issue upbeat figures fuelling hopes of a recovery in the housing market. The company said profit forecasts were on target with the average sales price up 2.5 per cent on 2008 to £154,600 in 2009. Bovis completed 1,803 homes compared with 1,817 in 2008 – with 1,527 of those [...]
House price fall fuels fear of double-dip July 29, 2010 FEARS of a sustained double-dip in Britain’s property market intensified yesterday after mortgage lender Nationwide reported that house prices fell this month for the first time since February and the Bank of England revealed that mortgage approvals dropped to a four-month low in June. The latest figures from Nationwide showed that house prices fell by [...]
CITY VIEWS: DO YOU BELIEVE THE UK ECONOMY IS OUT OF RECESSION? January 14, 2010 ADE ABIOSE | CAVENDISH WEALTH MANAGEMENT “Personally, I’m still cautious. The main reason for thinking the economy did grow again is the better outlook for property. But I think that was fuelled by home movers pushed by low interest rates, not by first time buyers. We may be edging out, but we’re not clear of [...]
GM plots listing July 23, 2010 GENERAL Motors plans to file its registration for an initial public offering during the week of 16 August, just after the expected date for its second quarter results, according to US sources. A GM filing with the US Securities and Exchange Commission would be the first step towards an IPO to reduce the US government’s [...]
GM plots IPO to reduce government stake July 23, 2010 GENERAL Motors plans to file its registration for an initial public offering during the week of 16 August, just after the expected date for its second quarter results, according to US sources. A GM filing with the US Securities and Exchange Commission would be the first step towards an IPO to reduce the US government’s [...]