August boost to wholesaling a boon to US recovery ambitions October 10, 2012 SALES of wholesale goods climbed in August, data from the US Census Bureau revealed yesterday, driven by increasing inventories. Overall sales were $450.4bn (£281.4bn), up 0.9 per cent on July’s figure, and up 2.1 per cent on August 2011. However this came mainly from building up inventories, which rose 0.5 per cent on the month, putting them some [...]
August boost to wholesaling a boon to US recovery ambitions October 10, 2012 SALES of wholesale goods climbed in August, data from the US Census Bureau revealed yesterday, driven by increasing inventories. Overall sales were $450.4bn (£281.4bn), up 0.9 per cent on July’s figure, and up 2.1 per cent on August 2011. However this came mainly from building up inventories, which rose 0.5 per cent on the month, putting them some [...]
City to gain as 10 states push for finance tax October 23, 2012 GERMANY, France and eight other EU countries took a step closer to implementing their own financial transactions tax (FTT) yesterday as the European Commission approved the plans. That means London could gain if transactions, and the jobs that come with them, move to the City. The EC wants the tax on transactions – like share, [...]
Bank of America Merrill Lynch rejigs financial advisory team October 11, 2012 BANK of America Merrill Lynch has reshuffled the senior ranks of its team advising financial institutions on mergers and financing in Europe, as it renews efforts to bring in more investment banking fees from that industry. Henrietta Baldock, who had already been in charge of the European financial institutions group (FIG) since 2009, will now [...]
An evening celebrating the best of London business October 17, 2012 LAST night was an occasion to remember: City A.M.’s third annual awards celebrating the best and brightest of London’s business, financial and investment communities. Over 500 guests from 116 different firms attended the celebration, held at the Grange Hotel in St Paul’s. There was great food, music and company, as well as a rousing speech [...]
Black Swan author challenges the belief that pressure is bad for the economy December 6, 2012 BANKS should be more like cats than washing machines. So suggests Nassim Taleb, ex-trader and controversial author of The Black Swan, who has a new book out in time for Christmas. What he means is that living things – cats, economists, bankers – display a property that even our best-designed machinery lacks: a quality that [...]
Affordable housing rules dropped to boost builders September 6, 2012 HOUSEBUILDERS and business organisations yesterday welcomed the government’s decision to temporarily relax planning laws as Downing Street announced it would scrap the requirement for private developers to build affordable housing in an attempt to kick-start a construction boom. Under existing rules builders are required to designate a set percentage of every development either for housing associations [...]
Funding for Lending scheme boosts mortgage availability September 26, 2012 British banks reported a big increase in the availability of mortgages in the three months to September, according to the Bank of England’s quarterly credit conditions survey. The survey reported that banks expect mortgage lending to further increase over the next three months, with the Funding for Lending scheme cited as a contributing factor for [...]
Dixons steals Comet’s place in the spotlight November 29, 2012 THERE are two kinds of people in this world: winners and losers. And if the contrast between rivals Dixons and Comet’s recent luck is anything to go by, the same looks to be true of companies. Luckily for Dixons, it looks like Comet’s demise has put the firm’s star firmly in the ascendant. Its shares [...]
Ten golden rules of investing September 24, 2012 Some industries produce more economic profit than others. How much economic profit a sector or industry tends to produce is often a function of how difficult it is to enter. High entry barriers can therefore provide a sustainable competitive advantage for incumbents. Take banking. Unlike retailing or steel manufacturing, there are all sorts of obstacles [...]