City Moves for 22 May 2014 | Who’s switching jobs May 21, 2014 Marsh The insurance company has appointed David Bramall as head of placement in its national corporate practice. He joined in 2008 as a casualty broker from Willis, where he was also a casualty broker. Lloyds Bank The bank has announced the appointment of Nigel Brady as a director for sterling financials trading in its commercial [...]
How embracing globalisation and the flexible working phenomenon can boost SME business growth May 21, 2014 IN TODAY’S globalised world, businesses of all shapes and sizes need to maximise the potential of communicating and trading internationally. According to a recent HSBC forecast, trade conditions are improving for UK businesses, with 63 per cent of exporters expecting trade volumes to rise over the next six months. And with the rapid pace of [...]
BoE minutes reveal rate hike debates at Threadneedle Street May 21, 2014 The minutes of the Monetary Policy Committee's meeting of 7-8 May reveal that its members voted 9-0 for no change in policy, electing to hold interest rates at their historic lows and maintaining QE at £375bn. Analysts had widely expected to see that the MPC had showed unanimity for unchanged policy at its latest meeting. [...]
Retail sales rebound to fastest growth in a decade on strong Easter shopping May 21, 2014 Retail sales growth has shot up on the back of strong Easter trading. According to official estimates, retail sales were 6.9 per cent higher in the year to April, up from last's month reading of 4.2 per cent growth. That's the strongest growth in sales seen since almost 10 years ago, in May 2004. Consensus [...]
HSBC among big banks facing EU fixing charges May 20, 2014 THE EUROPEAN Commission levelled charges of market manipulation against three banks yesterday, alleging that the groups acted to rig a major inter-bank lending rate. HSBC, JP Morgan and Credit Agricole were named by the Commission, which said in a statement it believes that the banks were involved in fixing Euribor. The institutions held out last [...]
Investment Comment: How to invest in markets that are now hitting all-time highs May 20, 2014 The UK and US are consistently beating growth expectations – but sensible investors should proceed with caution THE GOOD news? The UK economy is recovering very well, consistently beating growth expectations. We’re seeing increasing levels of merger and acquisition activity, while the FTSE 100, S&P 500 and Dow Jones indices have all been at, or [...]
Real wages could resume fall as “Easter effect” sees inflation jump to 1.8pc May 20, 2014 We've only had a month of confirmed real wage growth. Now a sharp increase in inflation this April threatens to see us returning to falling real pay packets. Figures from the Office for National Statistics today show inflation up from 1.6 per cent to 1.8 per cent in the year to April. An increase had [...]
Game’s back in play with return to stock market May 19, 2014 VIDEO game retailer Game is to make a £400m return to the London stock market within the next month two years after it was suspended from trading and collapsed into administration. The chain is 99 per cent owned by US activist hedge fund Elliott Advisors and one per cent owned by Henry Jackson’s Opcapita, who [...]
City Moves for 20 May 2014 | Who’s switching jobs May 19, 2014 IO The multi-let industrial estates management firm has announced the appointment of Oliver Bowditch to handle acquisitions. He joins from JLL, where he focused on providing valuation advice to banks, institutional investors and property companies. BDO The accountancy and business advisory firm has appointed Chris Bellairs as a partner in its financial services practice. He [...]
Why the US labour market is starting to tear away from its Canadian peer May 19, 2014 Things are taking off in US employment growth. A Bank of America Merrill Lynch report published today highlights a widening gap between the labour market of the US and neighbouring Canada. Analysts note that the most recent monthly non-farm payroll data from each country looks strikingly different. Canada saw payrolls fall by 28,900 in a [...]