Less than 1pc of firms go bust during October November 25, 2012 FEWER and fewer firms are being forced into insolvency, data out this morning suggested, despite continued economic pressure on business. Just 1,685 firms went insolvent during October, according to data from Experian, down 8.7 per cent on October 2011, to make up just 0.08 per cent of the total business population. Nearly all firm sizes [...]
Eurozone faces worst services drop since 2009 November 22, 2012 THE EUROZONE’S service sector fell to an even steeper decline in November, data revealed yesterday, keeping overall activity at levels suggesting sharp economic contraction. Service activity fell to 45.7 this month, the purchasing managers’ index (PMI) from Markit said, down from 46 in October and solidly below the 50 level indicating no change. This fall [...]
Young’s pubs by the Olympic park get gold November 22, 2012 THE COW and Calf pubs at the centre of Stratford’s Westfield shopping centre were the highlight of an impressive six months for Young and Co. with the venues seeing record numbers of visitors during the Olympic Games. The two pubs “shattered all our previous sales records in the second week of the Games,” Young’s said, [...]
Strong commodities and SAB Miller drive FTSE to a three-week high November 22, 2012 BRITAIN’S top share index reached a three-week high yesterday after gaining for a fourth straight session, driven by strength in commodity stocks after a return to growth in China’s manufacturing sector. The FTSE 100 index closed up 39 points, or 0.6 per cent, at 5,791.03, extending its gains for the week so far to almost [...]
Government may miss deficit target as borrowing rockets November 21, 2012 PUBLIC SECTOR net borrowing soared between October 2011 and the same month this year, official data revealed yesterday, prompting some analysts to predict that the government would miss its borrowing targets for the year as a whole. The public sector borrowed £8.6bn in October, according to data from the Office for National Statistics (ONS), up [...]
Remortgaging still depressed despite pick-up November 21, 2012 REMORTGAGE lending soared between September and October, according to data out yesterday, cementing a solid annual increase. Gross remortgage lending climbed from £3.3bn in September to £4.1bn in October, LMS estimated this morning, but the improvements could not erase a significant portion of the losses since before the financial crisis, when loans typically totalled around [...]
Bond and share issuance jump on improved market conditions November 20, 2012 BANKS and finance firms increased their fundraising through bonds, shares and commercial paper in October, according to Bank of England data published yesterday, as improving financial market conditions allowed firms to tap up more investors. Gross share issuance hit its highest level in more than a year at £1.3bn in the month, up from £0.2bn [...]
Mortgage loans see Funding for Lending boost November 20, 2012 MORTGAGE lending climbed to an 11-month high in October, according to data out yesterday, as the Funding for Lending Scheme (FLS) entered its third full month of activity. Gross mortgage loans hit £12.9bn in October, data from the Council of Mortgage Lenders (CML) showed, up 13.3 per cent on September, and up 4.2 per cent [...]
US housing market continues to bounce back from collapse November 20, 2012 BUILDING permits, housing starts and housing completions in the United States grew rapidly into October, according to statistics out yesterday, signalling continued recovery in the US housing market. Permits were up 29.8 per cent in the year to October, the data from the US Housing Department and Census Bureau showed, even after a 2.7 per [...]
Mitie revenue boosted by key contract wins November 19, 2012 REVENUE at outsourcing firm Mitie jumped 5.6 per cent over the six months to September, as it hailed recent contract wins for the boost. Turnover jumped to £1.03bn as the FTSE 250-listed company was flattered by several large contract wins, including a £775m deal with Lloyds Banking Group, thought to be its largest-ever contract. Total [...]