UK recession looms July 30, 2008 The UK is drifting into a recession, leading economists warned yesterday, as approvals for British home loans in June hit their lowest level since records began and retail sales fell at their fastest pace in at least a quarter of a century. Home mortgage approvals, loans that are agreed but not yet made, fell in [...]
Despite the gloomy market, investors still have something to cheer about July 3, 2008 Look beyond the doom-mongering, and there is still money to be made in property, says Alex Delmar-Morgan Property is a subject close to the hearts of the British people, and many home-owners have been chuffed over the past few years to see the prices of their properties increasing at massive rates. Surely, though, even the [...]
More pain for homes August 1, 2008 The clouds gathering over the housing market darkened yesterday when Britain’s biggest building society reported the biggest annual drop in house prices since records began. Mortgage lender Nationwide said property values were now 8.1 per cent less than last year ago, almost a £15,000 decrease. The average cost of a home in Britain is now [...]
Going short is not necessarily the answer September 2, 2008 A medium or long term approach may be wisest just now, says Katie Hope Its’ like a grim version of “when I were a lad…” working in the City at the moment. Everyone’s trying to out-do themselves in describing just how bad things have got. Going to school barefoot barely makes the grade in terms [...]
Rio loses key mine rights August 5, 2008 Bid target Rio Tinto has lost control of one of its most important iron-ore projects that could generate annual sales of more than $10bn (£5bn), it was revealed yesterday. The Government of Guinea has told Rio that its licence to mine Simandou, one of the world’s largest undeveloped iron-ore deposits, has been rescinded. The company’s [...]
It is still not the time to be buying into retail stocks July 31, 2008 The European General Retail sector has fallen by about 25 per cent so far this year. But does this sharp decline in price make retail shares a good buy? We think that there are a variety of reasons to remain wary. The first reason is a depressed outlook for consumer demand. With continued worries about [...]
Merrill soars on bet worst could be over July 30, 2008 Shares in embattled US banking titan Merrill Lynch jumped nearly 8 per cent yesterday after the bank agreed to sell a massive debt portfolio at a discount, raising investor hopes it was putting its problems behind it. CEO John Thain has gone back to shareholders to boost the bank’s capital reserves, despite repeated assurances to [...]
Barratt close to securing debt deal July 10, 2008 Housebuilder Barratt Developments is today expected to reveal it has managed to renegotiate a refinancing package with its bankers. Barratt, which has £1.7bn debt and a market capitalisation of just £140m, has been negotiating with lenders to extend repayment of £400m debt due in April , as well as agree changes to its debt covenants [...]
Next cautious after half year sales fall 6 per cent July 31, 2008 Next, the second largest clothing retailer in the UK, saw sales fall in the first half of the year and said the trend was likely to continue this year. Second quarter sales actually fared better than expected, down 2.4 per cent on the same quarter the previous year, as the warmer summer weather coaxed shoppers [...]
Don’t be spooked by inflation: there are ways to protect your portfolio August 15, 2008 Clever investors can protect themselves from the worst effects of rising prices, says Esther Shaw Figures out last week showed that inflation in the UK, as measured by the Consumer Price Index (CPI), jumped to 4.4 per cent in July, more than double the Government’s 2 per cent target. On other measures, the figure is [...]