Headline UK inflation still above target June 16, 2009 BRITISH headline inflation fell by much less than had been expected in May, raising speculation that the Bank of England’s Monetary Policy Committee (MPC) may decide not to extend its quantitative easing programme beyond the current £125bn. Official data yesterday showed that consumer prices rose 0.6 per cent last month, taking the annual rate of [...]
Pay cuts loom as prices fall to 61-year low May 19, 2009 AN ESTIMATED 80 per cent of workers face the prospect of a pay freeze or cut, after the measure of inflation used for the majority of wage settlements plunged last month. The Retail Prices Index (RPI), which is used for workers’ wage settlements and includes mortgage and rent payments, shrank to -1.2 per cent year-on-year [...]
Q & A : WHAT DOES S&P’S DECISION MEAN FOR THE UK May 21, 2009 Q. WHAT EXACTLY HAS STANDARD & POOR’S DONE?A. It has downgraded its rating on Britain’s AAA rating, to “negative” from “stable”. Q. WHAT IS MEANT BY AN OUTLOOK DEFINITION?A. An S&P rating outlook assesses the potential direction in which a rating will move over the next six months to two years. “Negative” means it may [...]
Q & A : WHAT DOES S&P’S DECISION MEAN FOR THE UK May 21, 2009 Q. WHAT EXACTLY HAS STANDARD & POOR’S DONE?A. It has downgraded its rating on Britain’s AAA rating, to “negative” from “stable”. Q. WHAT IS MEANT BY AN OUTLOOK DEFINITION?A. An S&P rating outlook assesses the potential direction in which a rating will move over the next six months to two years. “Negative” means it may [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 19, 2009 THE SUNDAYSThe Sunday TelegraphENGINE IN DRIVE FOR EXPANSIONThe advertising agency that created the 118 directory enquiries runners is seeking £50m to fund an international expansion drive that will take it to the US and the Far East. The Engine Group has appointed advisers at Jefferies and the corporate finance arm of Ingenious Media to secure [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 19, 2009 THE SUNDAYSThe Sunday TelegraphENGINE IN DRIVE FOR EXPANSIONThe advertising agency that created the 118 directory enquiries runners is seeking £50m to fund an international expansion drive that will take it to the US and the Far East. The Engine Group has appointed advisers at Jefferies and the corporate finance arm of Ingenious Media to secure [...]
Monica Ali’s Brick Lane follow-up never really reaches boiling point May 13, 2009 ONE of the most famous books to come out of the boom of the Eighties was Barbarians at the Gate. In this book, it seems that the nerds have taken over from Conan and his chums. In fact, the subtitle of the book makes it clear that greed was to blame – politicians and central [...]
The worst may be over, but the UK’s return to growth could be painful May 25, 2009 THE WORST is now over for the UK economy, but the path back to growth will be slow and painful, according to an increasing number of economists. While last week’s GDP figures confirmed the UK economy shrank 1.9 per cent in the first quarter of this year compared with the previous quarter – its sharpest [...]
Low interest rates are crippling savers May 13, 2009 SO the Bank of England agrees that the recession has bottomed out – but it is refusing to be too optimistic about the recovery, and expects interest rates to remain at 0.5 per cent for a year or so. All very sensible; but this only tells part of the story for borrowers and savers. As [...]
Nationwide in 69 per cent profit fall on protection fees May 27, 2009 NATIONWIDE, Britain’s largest building society, reported a 69 per cent drop in full-year pre-tax profits yesterday, blaming the decline on the costs of the government’s deposit protection scheme for savers. The mortgage provider and lender offered little sign of optimism in its outlook, warning of further loan loss provisions to come.The group said it was [...]