Credit Suisse keeps talent September 20, 2009 CREDIT Suisse has been able to hold on to key talent and has accumulated a war chest it could use to make acquisitions, the chief executive of the Swiss bank Brady Dougan said yesterday. Dougan, whose bank rode out the sub-prime mortgage crisis without having to resort to state aid, said the bank had been [...]
London and South East in homes boost September 27, 2009 HOUSE prices increased by 0.2 per cent in September, according to a survey published today. The survey, by the housing intelligence business Hometrack, records only the second monthly rise in house prices since July 2007. Hometrack’s director of research, Richard Donnell, warns however that “the headline growth marks what is essentially a London and South [...]
QE has worked it’s time to wind it down November 5, 2009 IT is nonsense to believe that quantitative easing has had no effect on the economy. It has prevented a collapse in the money supply, which would have triggered a collapse in output. It has also led to a surge in asset prices and started to fuel new bubbles in Britain and abroad, which is why [...]
QE has worked it’s time to wind it down November 5, 2009 IT is nonsense to believe that quantitative easing has had no effect on the economy. It has prevented a collapse in the money supply, which would have triggered a collapse in output. It has also led to a surge in asset prices and started to fuel new bubbles in Britain and abroad, which is why [...]
The financial crisis has emboldened London’s rivals, but the City can survive December 15, 2009 ONE of the effects of the financial downturn has been to highlight to what extent the modern economy is globalised. This has happened in two ways. Firstly, the crisis proved just how interconnected economies are. As if by magic, dodgy mortgages in Arkansas can now cause job-losses in Manila, and deals made in Scottish boardrooms [...]
CITY VIEWS: WHAT ANNOYS YOU ABOUT YOUR BANK? September 15, 2009 PETER BOARDLEY CUNNINGHAM LINDSEY“I think things are much the same now as they have always been, and changes are due. Banks still overcharge for overdrafts and bounced cheques, although I understand that this could soon be addressed. Currently a lot of people get free banking at the expense of others who maybe go a small [...]
Consumers tighten belts as GDP slumps September 29, 2009 THE scale of Britons’ belt-tightening was laid bare by data showing record consumer credit repayments in August and a five-year high in households’ savings ratio in the second quarter. Official data confirmed Britain’s economy suffered its worst 12 months since modern records began in 1955, with output falling by 5.5 per cent year-on-year in the [...]
Fed to keep policy loose September 2, 2009 A SLUGGISH recovery and continued risks to the economy saw the Federal Reserve hold rates at its August meeting, but said its $300bn (£184bn) Treasury purchase programme would end in October “in light of the evolving economic outlook and conditions in financial markets”. The minutes showed that “most participants saw the economy as likely to [...]
Fed to keep policy loose September 2, 2009 A SLUGGISH recovery and continued risks to the economy saw the Federal Reserve hold rates at its August meeting, but said its $300bn (£184bn) Treasury purchase programme would end in October “in light of the evolving economic outlook and conditions in financial markets”. The minutes showed that “most participants saw the economy as likely to [...]
UBS unveils another loss amid reshape November 3, 2009 SWISS bank UBS has reported a third quarter loss of SFr564.4m (£337m) after being hit by a hike in accounting charges. The result means the bank has now suffered four successive quarters of losses as it restructures in the face of the credit crunch. UBS, Switzerland’s largest bank, has been particularly badly hit by the [...]