Barclays weighs up costs of quitting UK October 27, 2010 SENIOR executives at Barclays Bank are weighing up the costs of moving the group’s headquarters from London to overseas, most probably New York. The bank’s executives, including at board level, have spent a great deal of time poring over the issue over the past few weeks. While no final decision has been taken, they have [...]
Mouchel warns over profit in tough environment October 14, 2010 Outsourcer Mouchel has warned full-year profit could be lower than expected. The company, which provides maintenance for highways and handles local government payrolls, estimated that pre-tax profit before exceptionals for the year would be around £30.5m. Analysts were, on average, expecting £34.85m, a Thomson Reuters poll showed. “Taking into account the challenging business environment and [...]
A BETTER WAY TO PLAY THE POUND RALLY October 26, 2010 DIRECTOR OF CURRENCY RESEARCH, GFT YESTERDAY’S UK GDP data must have impressed even the most ardent cable bulls after it came in at twice the market consensus, increasing to 0.8 per cent versus 0.4 per cent expected. Growth was strong across the board and overall, the third quarter GDP grew at 2.8 per cent on [...]
Spending Review Reaction October 20, 2010 THE GILTS EXPERT Killik & Co provides advisory services to private investors of all sizes. It offers advice on a wide range of financial matters, including CFDs, equities, fixed income markets and funds of funds INVESTMENT STRATEGIST PATRICK GORDON “The gilts market reaction has been fairly muted to the spending review although we did see [...]
Banks in bid to boost lending October 13, 2010 Britain’s biggest banks have outlined a raft of measures to boost lending to small businesses, including a £1.5bn growth fund, in a bid to counter suggestions they are not doing enough to nurture the recovery. HSBC, Barclays, Royal Bank of Scotland, Lloyds Banking Group, Standard Chartered and the UK operations of Santander will contribute to [...]
Clegg to party: keep your cool September 19, 2010 LIBERAL Democrat leader Nick Clegg urged party members yesterday not to panic about a slide in poll ratings after he led them into Britain’s first coalition government since World War Two. Clegg’s Lib Dems have seen their support slump since they became junior partners in the Conservative-led coalition following the general election in May. The [...]
Clegg to party: keep your cool September 19, 2010 LIBERAL Democrat leader Nick Clegg urged party members yesterday not to panic about a slide in poll ratings after he led them into Britain’s first coalition government since World War Two. Clegg’s Lib Dems have seen their support slump since they became junior partners in the Conservative-led coalition following the general election in May. The [...]
Greece to slash deficit and extend cuts October 4, 2010 GREECE will cut its budget deficit to seven per cent of gross domestic product (GDP) and launch a fresh wave of cuts in the public sector it said in its draft budget. The budget, aimed at convincing European leaders that it is on track to tackle its deficit crisis, would see the debt narrowed more [...]
At a glance: George Osborne’s first comprehensive spending review October 20, 2010 SPENDING FIGURES This fiscal year current expenditure will be £637.3bn. In 2011-12, current spending will be £651.1bn, followed by £664.5bn in 2012-13, £678.6bn in 2013-14 and then £692.7bn in 2014-15. The government will pay £43.3bn of gross government debt interest this fiscal year followed by £46.5bn in 2011-12, £52.4bn in 2012-13, £57.8bn in 2013-14 and [...]
Tube strike causes gridlock and costs economy £48m September 7, 2010 Millions of commuters across London struggled to get to work on Tuesday as a 24-hour strike by workers on the underground rail system crippled much of the network, hurting the city’s convalescent economy. Passengers took to bikes, buses, walked, or made use of extra boat services on the Thames that runs through the city in [...]