SENTANCE SAYS BANK MUST UP RATES January 24, 2011 BANK of England policymaker Andrew Sentance yesterday said factors pushing up inflation cannot be dismissed as “one off” influences, as the Bank risks losing credibility if it fails to respond. He said: “If we do not start to raise UK interest rates gradually soon, we risk having to do so more aggressively in the future [...]
Obama speech fails to prop up markets August 30, 2010 US STOCKS accelerated declines yesterday after comments from US President Barack Obama did little to soothe investors anxious over the slowing pace of the recovery. Obama said he and his economic team discussed additional steps to promote economic growth, including looking at tax cuts for businesses. Stocks had been trading lower prior to the comments [...]
Mortgage lending falls in January March 11, 2011 UK mortgage lending fell 29 per cent in January from December’s level, new data has shown. Just 28,500 loans were extended to property buyers, a fall of 12 per cent on January 2010, a report from the Council of Mortgage Lenders found. The fall is being attributed to “an unusual combination of factors” including public [...]
Mortgage lending falls in January March 11, 2011 UK mortgage lending fell 29 per cent in January from December’s level, new data has shown. Just 28,500 loans were extended to property buyers, a fall of 12 per cent on January 2010, a report from the Council of Mortgage Lenders found. The fall is being attributed to “an unusual combination of factors” including public [...]
No double dip but UK faces weak recovery March 3, 2011 BRITAIN’S recovery looks set to be weighed down by sluggish growth, the latest business surveys suggest. The economy is on course to grow by 0.5 per cent this quarter, according to Markit’s surveys, rebounding from the snow-affected 0.6 per cent contraction in the final three months of last year. Yet much of the recovery is [...]
THE WEEK AHEAD January 23, 2011 COMPANY NEWS ● Electronics company Philips publishes its 2010 full year results on Monday. ● Sodexo, the food services provider, releases its first quarter 2011 results on Monday. ● Tuesday sees Ericsson report its fourth quarter 2010 results and Siemens its first quarter 2011 results. ● WH Smiths will hold its annual general meeting and issue [...]
THE WEEK AHEAD January 23, 2011 COMPANY NEWS ● Electronics company Philips publishes its 2010 full year results on Monday. ● Sodexo, the food services provider, releases its first quarter 2011 results on Monday. ● Tuesday sees Ericsson report its fourth quarter 2010 results and Siemens its first quarter 2011 results. ● WH Smiths will hold its annual general meeting and issue [...]
John Lewis sales fall as shoppers feel pinch January 28, 2011 Department store John Lewis suffered a decline in sales last week, a sign that an increase in VAT sales tax has further weakened already fragile UK consumer spending. The retailer, which also owns supermarket chain Waitrose, said its department store sales fell 2.2 per cent to £50.1m in the week to January 22. Sales in [...]
Late rally fails to push FTSE up to 6,000 February 22, 2011 The FTSE rallied valiantly this afternoon on the back of strong US consumer confidence data, after incurring a morning of losses from concern over the ongoing Libya crisis. Banks and commodities suffered from concerns that crude oil prices would spike and knock the global recovery, and the FTSE 100 closed down 0.3 per cent at [...]
Late rally fails to push FTSE up to 6,000 February 22, 2011 The FTSE rallied valiantly this afternoon on the back of strong US consumer confidence data, after incurring a morning of losses from concern over the ongoing Libya crisis. Banks and commodities suffered from concerns that crude oil prices would spike and knock the global recovery, and the FTSE 100 closed down 0.3 per cent at [...]