UK recovery is built on a debt bubble that cannot last – it’s time for change November 19, 2013 RELIEF over recent economic data is over-done. Even if we are seeing pockets of growth in specific regions and sectors of the UK, it is far from clear that the structural imbalances in Britain’s economy have been addressed. In the last few years, the West has seen a number of financial crises of escalating seriousness, [...]
The UK economic growth surge exposes the real evidence on bank lending October 23, 2013 WHEN Charlie Bean, deputy governor at the Bank of England, gave his speech this week on the UK’s economic outlook, he admitted that the Old Lady was surprised with what was happening. The Bank’s analysis showed that the “recent run of UK data has been unusually strong relative to market expectations”. There are “at last [...]
Focus on… Hammersmith: It’s Hammersmith time in London September 26, 2013 HOMES in Hammersmith are increasing in value as young professionals and families compete for properties in the area. Bordered by Shepherd’s Bush in the north and Fulham in the south, the west London area has found its housing stock in short supply in recent years, leading to an average of six applicants per property and [...]
Analyst Views: Can Kingfisher get back to growth after its latest results? September 11, 2013 KEITH BOWMAN HARGREAVES LANSDOWN The results are broadly in line with forecasts, with management, unlike the chancellor, still cautious and hesitant in proclaiming an economic recovery. Weather volatility has played a major part, whilst divergence in consumer confidence across its geographical footprint continues to impact. JAMES GRZINIC JEFFERIES There is little of surprise from [...]
New Weetabix owner milks strong growth October 3, 2013 WEETABIX, the iconic cereal brand which also owns Alpen as well as Ready Brek, defied one of the worst wheat harvests in over half a century to post a six per cent rise in sales last year. The company, which was forced to scale back production of some of its mini ranges after UK crops [...]
Zoopla buys property sites September 4, 2013 ZOOPLA property group yesterday said it has snapped up four property websites from newspaper group Trinity Mirror in a £3.3m deal. The company said the sale, which includes a new homes-focused site SmartNewHomes.co.uk, will help it to take advantage of the rising housing market thanks to Help to Buy and improving mortgage availability. The other [...]
Next chief sees housing bubble danger ahead September 12, 2013 THE CHIEF executive of Next warned yesterday that improving mortage availability and government measures to boost activity in the housing market could result in an “unhelpful house price bubble” as the retailer reported strong half-year sales growth. Lord Simon Wolfson, a prominent supporter of the Conservative Party, said house price inflation “was as dangerous as [...]
Bank’s cheap credit scheme cuts costs of state-backed banks as their net lending drops September 2, 2013 The Bank of England saw 18 participants in its Funding for Lending Scheme (FLS) take a total of £2bn in the second quarter (ending 30 June 2013). Total net lending was only £1.6bn in the same quarter. Many have accused the scheme of pumping up the housing market with easy credit, a total of £17.6bn [...]
Ignore the cranks: Orthodox economics can account for the 2008 financial crash October 30, 2013 ONE OF the more annoying false memes of recent years has been the notion that standard corporate finance models have not worked in or since the 2008 financial crisis, and that no orthodox economics account of that crisis has been offered. As someone who implements standard finance models, and has written orthodox economics accounts of [...]
What the other papers say this morning – 1 October 2013 September 30, 2013 FINANCIAL TIMES Weidmann in sovereign debt warning Jens Weidmann, president of the Bundesbank, has risked angering Europe’s crisis-hit governments by warning of the dangers posed by high levels of sovereign debt on banks’ balance sheets. He wrote: “The time is ripe to address the regulatory treatment of sovereign exposures.” US asset managers face extra scrutiny [...]