Bentley invests £800m to build new car in Crewe July 23, 2013 LUXURY car firm Bentley is to build its first SUV model at its Crewe factory, a decision that it says will create 1,000 British jobs. Bentley will invest £800m in its Crewe headquarters and new model development over the next three years. The new SUV will go on sale in 2016. The company, owned by [...]
Time to stop under-reacting to scandals in the public sector July 16, 2013 GOOD intentions are never enough – and in most cases, they don’t even matter. That is one of the central lessons of economics: with the right institutions, including proper property rights, the rule of law and no artificial distortions imposed by politicians, self-interested behaviour in a market economy tends to bring about the common good. [...]
City Matters: Tough decisions on infrastructure must not be delayed for future generations August 18, 2013 THE DUST has barely settled on the London Anniversary Games and work has already begun to convert the iconic Olympic Stadium for future use. Some may feel a sense of regret that a stadium home to so many glorious memories last summer will never be seen again in its current form. But it is only [...]
HS2 benefits downgraded again October 29, 2013 Department for Transport lowers forecasts to reflect soaring budget for the new railway THE GOVERNMENT scaled back the forecasted benefits of the High Speed 2 railway yesterday, but insisted that the £50bn project will still be a huge positive for the economy. The full Y-shaped route from London to Birmingham, Manchester and Leeds is now [...]
Ed Balls asks for audit of Labour spending plans September 22, 2013 ED BALLS yesterday asked the government’s budget watchdog to assess Labour’s spending plans – as the party hinted that it will shift the tax burden onto high earners if it wins the next election. The shadow chancellor has asked Robert Chote, head of the Office for Budget Responsibility (OBR) to audit all of the party's spending [...]
City Moves for 18 July 2013 | Who’s switching jobs July 17, 2013 Westhouse Securities The broking group has announced the appointment of Paul Locke as investment funds analyst. He joins from Cantor Fitzgerald Europe, where he was a senior funds analyst. Prior to that, he was a senior funds analyst at Canaccord Genuity. Lloyds Bank John Richardson has joined Lloyds Bank Commercial Banking as head of building [...]
Government gloats of Help to Buy success as bubble expands August 13, 2013 Since the launch of the Help to Buy equity loan scheme in April, there have been 10,000 reservations for new build homes: evidence, the government has said, that the scheme is working (release). Earlier today, communities and local government secretary Eric Pickles said: This government’s package of measures to boost the housing market is working, [...]
Eurozone recovery accelerates with fastest output growth in over two years August 22, 2013 Eurozone August figures are looking good in August, as Markit's composite purchasing manager's index (PMI) jumps from 50.5 to 51.7. Economists had predicted a rise to 50.9. The euro rose against the dollar on the news. Manufacturing PMI came in at 51.1 from 50.3 (50.6 expected) and services outperformed estimates too, 51.0 returning to growth [...]
Britain getting more confident about growth July 30, 2013 THE BRITISH economy was the most upbeat of any major European country in July, shooting upward in the past month, official EU statistics show. And GfK’s consumer confidence barometer for the UK also recorded a strong upswing, rising to minus 16, its highest level since April 2010. Though the measure is still negative, it has [...]
What the other papers say this morning – 16 August 2013 August 15, 2013 FINANCIAL TIMES UK state-owned bank builds brand The UK’s state-owned “zombie bank” responsible for winding down Northern Rock’s mortgages is attempting to become a brand in its own right as it also prepares to take over administration of the Help to Buy scheme. UK Asset Resolution has redesigned the websites and literature of nationalised banks [...]