LONDON REPORT June 10, 2012 THE week starts with a quarterly trading statement from grocer Tesco, which is expected to report a fall in earnings because of tough economic conditions and fierce competition. Tomorrow will see the release of the UK’s latest industrial production and manufacturing data, plus a speech from Paul Tucker, deputy governor of the Bank of England. [...]
MARKETS LOOK TO THE FED FOR ITS NEXT POLICY MOVE June 18, 2012 Last Friday, equity markets were rallying on rumours that central banks were preparing for coordinated action, should the majority of Greek voters make the “wrong” decision and back the anti-bailout party, Syriza. Yesterday, the major indices gave up early gains following the news that Syriza came a close second to New Democracy. After all, although [...]
News from retailers and job figures will make the week ahead April 15, 2012 WHILE the first couple of days indicate a quiet start for the UK market, activity is likely to increase by the middle of the week. All eyes will be on consumer price index data tomorrow for any signs of inflation moving one way or another. Tesco reports full year numbers on Wednesday. The supermarket lost [...]
IMF warns of downturn risk in debt bubbles April 10, 2012 BUBBLES in consumer debt cause more entrenched recessions and longer slumps in the housing market, according to a study by the International Monetary Fund (IMF). The IMF pointed to economic downturns that have hit harder in countries such as the US and the UK, where sharp growth in levels of household debt were matched by [...]
Dutch bank ABN AMRO warns bad loans will continue to rise May 16, 2012 NATIONALISED Dutch lender ABN AMRO reported a 16 per cent drop in net profit to €454m (£363m), hit by a rise in losses on bad loans due to the ongoing recession in its home market. It was a significant improvement on the €23m loss seen in the fourth quarter of last year, when all banks [...]
House prices struggle despite duty incentive April 9, 2012 HOUSE prices fell again in March, despite higher buying activity ahead of the expiry of the stamp duty holiday, industry figures showed today. Ten per cent more surveyors reported prices falling than rising in the three months to March, according to the Royal Institution of Chartered Surveyors’ (RICS) survey. The fall represents a slowdown from [...]
RAPID RESPONSES April 12, 2012 Kamall on Barnier [Re: I value the City: EU commissioner responds to criticisms, yesterday] Michel Barnier’s reply falls short on specifics and won’t reassure London hedge funds and private equity houses. Barnier holds hundreds of meetings with the industry, but listening to what is said at them is another matter. The industry doesn’t have faith [...]
Time for a few home truths about Britain’s housing crisis April 10, 2012 EVERY so often, a piece of research comes along which is a must-read. A document yesterday from the Institute of Economic Affairs is one such report: it reveals in no uncertain terms why house prices are so high in the UK, and what needs to be done to ensure that generations of young people are [...]
Time for a few home truths about Britain’s housing crisis April 10, 2012 EVERY so often, a piece of research comes along which is a must-read. A document yesterday from the Institute of Economic Affairs is one such report: it reveals in no uncertain terms why house prices are so high in the UK, and what needs to be done to ensure that generations of young people are [...]
House prices rise in London yet market weak in rest of UK June 13, 2011 SLUGGISH activity in the UK’s housing market has dashed hopes for a springtime boom, a leading survey exposed today. Yet property sales in London continue to defy the weak market elsewhere in the country, the Royal Institution of Chartered Surveyors (RICS) revealed. London has been the only region to report rising prices in each of [...]