EU attacks big trade and budget deficits February 14, 2012 COUNTRIES like the UK, France and Italy are being investigated by the EU for allowing potentially dangerous economic imbalances to develop, commissioner Olli Rehn said yesterday. Twelve EU countries have failed to address problems building up in their economies, Rehn said, and after further analysis the European Commission (EC) may send them advice and action [...]
Why Barclays Capital is set to go marching on February 13, 2012 WHENEVER I speak to a director at Goldman Sachs or Morgan Stanley about BarCap, Barclays Bank’s investment banking arm, I am reminded by them that it takes a very long time to build up a sustainable leading position in the equity markets. As Barclays geared up for publication of its financial results last Friday, questions [...]
What to look out for in the Budget March 20, 2012 ● PERSONAL TAXES The tax-free personal allowance was originally due to go up £630 to £8,105 as part of a long-term plan to take everyone earning below £10,000 out of income tax. That increase will be accelerated – almost doubled, in fact – as part of a plan to help low-earners more. But the scheme is [...]
North-south housing divide jumps January 2, 2012 The UK’s housing market is now worth just over half its value during the 2007 boom, and the gap between the north and south of the country has widened, research by property agent Savills shows. The active market in London and the south east made up a whopping 47 per cent of all transactions in [...]
Persimmon sees profits at top end of forecasts January 9, 2012 British house builder Persimmon said it expects underlying full-year pre-tax profits to rise by half, helped by higher sales margins, and said it was confident of further growth in 2012 as first time buyer interest improves. The largest UK housebuilder by market value said on Monday tighter cost control and sales on higher margin land [...]
Pensioners are still winning out in Britain’s battle of the generations April 2, 2012 WHEN in 1965 The Who sang “Hope I die before I get old,” it articulated the sentiment of a generation. However, the boomers – those born in the immediate aftermath of World War II – did not die: They lived long and lived well, enjoying historically unprecedented increases in living standards. David Willetts, the current [...]
Entrepreneurs finally fighting back February 29, 2012 BUSINESS people have a tendency to run scared of political debate. They rarely want to criticise politicians on the record (though they are often extremely outspoken in private). They very rarely agree to give interviews to discuss controversial subjects. This is a great tragedy: capitalists are failing to speak up for capitalism, allowing those who [...]
House price slump is already upon us August 30, 2011 HOUSE prices remain overvalued in Britain, locking out many aspiring buyers. Of that there is no doubt. But it is also the case that average prices have fallen far more than is usually understood; the single biggest reason why so many younger people cannot enter the market is because they have to put down much [...]
Don’t be unnerved by this retailer’s blip January 8, 2012 IN A WORLD of fierce supermarket price wars, and in the words of a well-known supermarket chain, every little helps. And every percentage point change in sales growth or underperformance can send alarm bells through the industry. Tesco’s own house broker signalling a two per cent decline in UK sales has surely raised some fears [...]
House prices stagnate as activity stalls January 29, 2012 HOUSE prices have stagnated under the weight of economic troubles, according to two separate studies released this morning. The average price of a British home fell by one per cent in December leaving prices virtually unchanged through last year, as recorded by an aggregate of several price surveys. And a new report from Hometrack says [...]