China slowdown gets worse June 1, 2012 China’s slowdown worsened in May as its factories saw a further deterioration in demand at home and abroad, dealing a new blow to a global economy struggling with a sharp downturn in Europe and a faltering recovery in the United States. The darkening outlook was underlined by data showing the fourth monthly decline this year [...]
Commodity shares and banks pull FTSE below important 5,500 mark June 25, 2012 WEAKNESS in commodity stocks and banks pulled Britain’s top shares lower yesterday, extending last week’s drop as investor appetite for riskier assets was curbed by global growth and Eurozone debt worries ahead of a summit of European leaders. The FTSE 100 index was down 25.73 points, or 0.5 per cent, at 5,487.96, dropping back though [...]
Power market overhaul set to push up bills May 22, 2012 PLANS to shake up Britain’s energy market were unveiled by the government yesterday, in a sweeping overhaul that looks set to raise household bills to pay for a greater mix in the country’s power supply. Energy bills are forecast to jump by around £100 a year by 2030 under the plans, but the coalition insists [...]
Greenspan bullish on stocks yet warns over house slump May 2, 2012 ALAN Greenspan, previously head of the US Federal Reserve, said yesterday that equities remain good value, yet warned that the housing slump is weighing on America’s recovery. “Stocks are very cheap,” Greenspan said, “There is no place for earnings to grow except into stock prices.” But Greenspan warned that the US housing sector is “going [...]
US growth helps Wolseley to counter weak sales in Europe May 29, 2012 WOLSELEY, the world’s biggest building supplies company, posted a rise in third quarter profits yesterday, but weaker-than-expected third-quarter sales in Europe sent shares down two per cent. The owner of the Plumb Centre and Ferguson chains in Britain and the United States said trading profits rose 10.3 per cent to £139m for the three months [...]
Russia’s potential in financial services is a prize the City should unwrap June 24, 2012 IT’S ASTONISHING that you can travel by train from the heart of the City of London right to the Pacific at Vladivostok, crossing nine time zones and an eighth of the world’s landmass on the way. Sadly, the pace of business doesn’t allow such journeys anymore, so I will be taking my business delegation to [...]
A tax on heritage attacks the heart of local business April 23, 2012 THE decision to withdraw VAT relief from approved alterations to listed buildings may not just change the face of Britain by sounding the death knell for hundreds of cherished buildings, but also damage local economies and community services. Listed buildings – only three per cent of all buildings – are protected as the best surviving [...]
Our decisive central bank has been neutered by regulatory confusion July 30, 2012 THE TREASURY Select Committee has rightly questioned the arbitrary powers of regulators, particularly the Bank of England, over the boards and senior executives of private firms in the financial sector. Despite the mistakes of our cartelised banks, it’s unwise to assume that regulators can run businesses better than boards. Moreover, trends over the last 12 [...]
Firms call for state aid to cut infrastructure risks May 27, 2012 VITAL infrastructure projects could be given the lift they need to get off the ground if the government uses small, targeted amounts of cash to reduce risks at the star of a project, according to a report out today from the Confederation of British Industry. The business group believes private investors such as pension funds [...]
London’s developers have a prime role in ensuring its future success May 28, 2012 IF LONDON is to retain its status as a global capital for business in the face of technological revolution and the rise of mega cities in the South and East of the globe, it is vital for property developers to respond to changing business needs. This is not just building new offices that are well [...]