New car sales hit post-crisis high January 7, 2014 BRITONS bought 2,264,737 new cars last year, the highest sales rate since 2007 and better than industry forecasts. Showrooms shifted 10.8 per cent more new vehicles than they did in 2012, with analysts pointing to windfalls from PPI compensation, attractive finance packages and a hunt for more fuel-efficient cars as the main drivers of growth. [...]
Car sales are lower than you think. Here’s why that’s great news for auto-backed bond traders February 11, 2014 New car sales have been booming in Britain recently, but Moody’s points out that sales are not as high as they have been – and that’s good news for anyone who fancies buying into auto-backed securities. While sales of new vehicles rose 10.8 per cent last year, the market remains just below the 15-year average. [...]
Co-op could cut off ailing bank March 24, 2014 THE CO-OP Group could sever its 143-year ties with its bank, after the scandal-hit lender yesterday revealed another £400m gap in its finances. Losses have now ballooned to £1.3bn for 2013, after bad loans came in even higher than expected and as its PPI mis-selling compensation bill keeps mounting, the bank said. It is asking [...]
Crazed global investors have become gluttons for punishment April 10, 2014 CREDITORS are strange beasts: they appear to have virtually zero memory, to be gluttons for punishment and to embrace rewards for failure. There can be no other possible explanation for Greece’s astonishingly successful return to the bond markets yesterday – apart, that is, from the fact that there is clearly far too much cash burning [...]
Budget 2015: Here are George Osborne’s best quotes plus his Budget speech in full March 18, 2015 George Osborne's final Budget during this parliament had few surprises but plenty of great quips, including – to the dismay of bookies everywhere – a quip about Ed Miliband's now-infamous second kitchen. Here's a selection of our favourites from today's big speech. (Source: Getty/City A.M.) (Source: Getty/City A.M) (Source: Getty/City A.M.) [...]
What you need to know before the open February 28, 2014 European bourses are set to open slightly higher this morning, after Fed chair Janet Yellen yesterday acknowledged the possibility that recent severe weather in the US could have impacted economic data. She also confirmed the Fed remains on track with its tapering programme. US markets finished on a record high yesterday, with the S&P 500 [...]
Lloyds shares tumble despite return to profit February 13, 2014 LLOYDS declared a profit for 2013 yesterday, indicating the five-year struggle to turn the bank around is complete. The bank is now ready to return fully to the private sector, and wants to start paying dividends from the second half of this year. However, shares fell as Lloyds revealed further provisions to pay for legal [...]
Card protection compensation set to hit £1.3bn February 3, 2014 CARD Protection Plan (CPP) redress payments could total up to £1.3bn as customers who bought card or identity protection are encouraged to claim compensation for mis-selling. The Financial Conduct Authority (FCA) yesterday launched the scheme for those who bought or renewed the products from CPP or their bank or card provider from January 2005 onwards. [...]
London Report: Barclays, Bank of England and Lloyds in focus February 9, 2014 BRITISH banks will be under the spotlight this week as Barclays and Lloyds deliver their full-year results and Bank of England governor Mark Carney updates the markets on its forward guidance policy for setting rates. Lloyds has already provided an update on its progress, predicting an underlying profit of £6.2bn for 2013 compared to £2.6bn [...]
What you need to know before the open – 16/01 January 16, 2014 European markets are expected to open a shade higher this morning, after yesterday's five-and-a-half-year high. US inflation numbers are out later today and are predicted to show that prices rose in December – following in the footsteps of yesterday's increased PPI figures. Yesterday's Beige Book survey also reinforced a continued pick up in the economy. [...]