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do you expect house prices to keep falling

first_img Show Comments ▼ Monday 30 August 2010 8:43 pm KCS-content do you expect house prices to keep falling by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmHero WarsBig Boss of internet games!Hero Wars whatsapp Sharecenter_img More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comPuffer fish snaps a selfie with lucky divernypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comConnecticut man dies after crashing Harley into live bearnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com whatsapp ED STANSFIELD | CAPITAL ECONOMICSWe forecast the Nationwide survey to be five per cent lower at the end of this year compared to December 2009 and the outlook remains downbeat for 2011. The market has softened already before we have seen any real fiscal tightening. Although London is likely to remain resilient in the short term, it is likely it will see bigger-than-average falls.CATHERINE PENMAN | CARTER JONASThe overall picture is definitely one of decline with fewer enquiries and the conversion of applicants to successful sales falling. We are not forecasting a fall off a cliff but we think the slowdown will continue. After a buoyant spring, the market has struggled to get going again. Public sector cuts are going to have a significant effect.PETER ROLLINGS | MARSH & PARSONSAt the start of 2010 I said that the London market would be five to seven per cent higher by the end of the year. Although public sector cuts will slow the national market, I think we will see a six or seven per cent increase on London prices this year. We have had a surprisingly good August, which is typically quiet. There’s plenty of demand and at last supply is coming back. Tags: NULLlast_img read more

UK factories’ activity slows

first_img BRITAIN’S manufacturing recovery appeared to be running out of steam in August as the boost from restocking faded and austerity measures raise concerns of subdued growth prospects, a leading market survey showed yesterday.The Markit/CIPS purchasing managers’ index for manufacturing disappointingly fell to 54.3 from a downwardly revised 56.9 in July, the biggest one-month fall in more than six years. The drop was caused by a plunge in new orders to 52 from 58.5. While the index remains comfortably above the 50 level that separates expansion from contraction, economists warned that August’s drop could be the start of a trend. Hetal Mehta, UK economist at Daiwa Capital Markets said: “The marked deceleration in new orders does not bode well for output in the coming months, and subdued growth in export orders, which is indicative of a slowing global economy, poses downside risks to the UK outlook. Furthermore, there is little sign of the much needed rebalancing of the economy towards exports taking place.” The Eurozone purchasing managers index (PMI) was revised slightly higher to 55.1 from the initial estimate but still showed a slowdown in activity compared to the previous month. The relatively poor European data comes as the US ISM manufacturing survey staged a surprise rebound in August. whatsapp whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Show Comments ▼ KCS-content Wednesday 1 September 2010 8:22 pm UK factories’ activity slows Share Tags: NULLlast_img read more

UK is mulling its options for a Green Bank

first_img Share Tuesday 14 September 2010 8:18 pm “We have begun the process of establishing the Green Investment Bank,” Gregory Barker told a CBI event. “We are currently studying a wide range of options. We are also looking at the option of it being commercially independent,” he added, declining to give further details.The government hopes the establishment of a “green bank” will help it meet its 2020 goals to cut carbon emissions and reduce the use of fossil fuels. Three departments – the Treasury, the Department for Business Innovation and Skills and the Department of Energy and Climate Change – are working on plans for the bank.Barker would not comment on when the bank would be formed but said the government would publish its proposals later in the year.“We need to understand the implications of the Carbon Reduction Commitment first,” he said, referring to Britain’s new mandatory corporate carbon trading scheme.An independent report in June said Britain may need up to £550bn of investment through 2020 to fund the shift to a low-carbon economy.It said a “green bank” funded by new consumer levies, the sale of emissions permits to industry and new investment products would help plug the gap. whatsapp Britain has begun the process of setting up its Green Investment Bank to help fund the shift to a low-carbon economy and could make it commercially independent, the minister of state for energy and climate change said yesterday. whatsapp KCS-content UK is mulling its options for a Green Bank More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Tags: NULLlast_img read more

CBI criticises migrant cap

first_imgThursday 30 September 2010 10:52 pm KCS-content whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org EMPLOYERS’ group the CBI has thrown its weight behind Vince Cable, the business secretary, by warning that government plans to cap non-EU immigration could hamper the economic recovery. The government is consulting on plans to introduce a permanent cap next spring, and has put a temporary limit in place until then. Home secretary Theresa May has limited the number of non-EU migrant workers to 24,100 between now and April.But the CBI will today say that the interim arrangements, which have been put in place to prevent a spike in applications ahead of the permanent cap, have been “poorly managed”. John Cridland, CBI deputy director general, said: “The system is proving a real headache for firms trying to keep on valued members of staff, or recruit specialists from overseas.“These problems are undermining confidence that the permanent cap will work. The migration system must support, not hamper growth.”The CBI will call on the government to prioritise skilled workers that have been offered a job. It will also say multi-national firms must be able to move their staff around freely using intra-company transfers (ICTs). Cable is leading the fight against the policy in cabinet, and has warned that the cap could “damage” the company, a claim refuted by Downing Street and the Home Office. Yesterday he told City A.M.: “The argument is still being made, and we’re dealing with it constructively with the Home Secretary. Obviously we’ll listen to what the CBI has to say.” Other cabinet ministers, including schools secretary Michael Gove and justice secretary Ken Clarke, are sympathetic to his point of view. An aide to home secretary Theresa May said: “We understand we need to bring the best and brightest here, but we also have a policy to bring down overall net immigration, and that’s what we’ll do.” whatsapp Share Show Comments ▼ CBI criticises migrant cap Tags: NULLlast_img read more

WHAT THE OTHER PAPERS SAY THIS MORNING

first_img WHAT THE OTHER PAPERS SAY THIS MORNING Share whatsapp FINANCIAL TIMESAIRBUS CHIEF CALLS SUBSIDY ROW AN ABSURDITYThe head of Airbus has lashed out at the “absurdity” of the prolonged aircraft subsidy row between his company and Boeing, its US rival, saying both sides had taken state aid and the only winners were likely to be rivals in China and Russia. In a frank assessment of the six-year battle between the US and EU over the funding of the aircraft-makers, chief executive Tom Enders said the WTO had, unsurprisingly, found “both are guilty”.EMERGING MARKETS DRIVE CATERPILLAR Caterpillar, the world’s biggest maker of earthmoving equipment, reported that profits nearly doubled in the third quarter from last year, driven by emerging markets. Sales revenues in Latin America rose 95 per cent, growing much faster than the Asia-Pacific region, where sales increased 51 per cent and EMEA where sales rose 31 per cent.CHEVRON TO DEVELOP IN GULF OF MEXICOChevron, the second-largest US oil group, has given the green light to the $7.5bn development of two large fields in the Gulf of Mexico. The decision to proceed with the project, represents the largest investment in the Gulf of Mexico since the BP oil rig disaster in April and is the strongest signal yet that the region’s reserves will continue to be produced.GERMANY HITS BACK AT CRITICISMGermany sternly rebuffed foreign critics of its economic policies yesterday, lauding the strength of its recovery while criticising its trade partners for lax finances and currency manipulation. “Growing domestic demand shows our recovery is standing on two feet,” said economics minister Rainer Brüderle.THE TIMESQUEEN’S FAVOURITE SPRING WATER RUNS DRY AFTER 400 YEARSIt is enough to drive one to gin. Only a day after the Government imposed severe spending cuts on the Queen, Coca-Cola has axed the bottled water favoured by Her Majesty. More than 400 years since Queen Elizabeth I sipped Malvern’s famously pure spring waters, Coca-Cola said that its plant was too small and inefficient to compete with modern facilities.UK GETS GAS BOOST FROM FRENCH STRIKEThe UK is set for an unexpected supply of heating fuel in time for the cold snap because liquefied natural gas tankers are being diverted from blockaded French ports. Striking workers at Montoir de Bretagne have prevented vessels from unloading LNG this week, forcing at least one ship to berth in a British port instead.The Daily TelegraphONGC MAY DERAIL VEDANTA’S CAIRN INDIA DEALIndia’s state energy company has sent a warning signal that it may stop Vedanta from buying a $9.6bn (£6bn) majority stake in Cairn India. After weeks of speculation about a state counter bid, Oil & Natural Gas Corporation has written to Cairn asking it to set out details of Vedanta’s qualifications to run the fields. GOLDMAN INVESTMENT TO MAKE WARREN BUFFETT $1.5BNWarren Buffett’s reputation as one of the world’s canniest investors looks set to receive its latest boost as the Sage of Omaha prepares to generate a $1.5bn (£956m) profit by selling his stake in Goldman Sachs. The US investment bank is close to paying back the $5bn Buffett invested in Goldman at the height of the financial crisis in 2008.WALL STREET JOURNALANGLO IRISH ASKS BONDHOLDERS FOR BIG HAIRCUTAnglo Irish Bank offered to swap some of its riskiest bonds for new debt at a hefty loss to investors in a bid to reduce the cost of the country’s banking-system rescue. The move by the state-owned bank could help the Irish government recoup roughly €1.7bn of the potentially €50bn cost of bailing out its troubled banks. RUSSIA NEARS APPROVAL FOR PRIVATISATIONS The Russian government is close to approving a $59bn privatisation programme as it seeks to cut the state’s role in the economy and business and raise money to balance the budget. The Kremlin aims to sell minority stakes of state-controlled companies, reversing a trend during the oil boom through 2008 and during the financial crisis. Thursday 21 October 2010 9:04 pm KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyDrhealth35 Foods That Should Never Be Placed in the RefrigeratorDrhealthBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushHealthyGemRub Vicks VapoRub On Your Feet At Night, Here’s WhyHealthyGemOnline Dating | Sponsored AdsScottsdale Singles: Online Dating Could Actually WorkOnline Dating | Sponsored AdsPets DetectiveNFL Quarterback’s Fiancée Makes A Startling Admission About Their Personal LifePets Detective whatsapp Show Comments ▼ Tags: NULLlast_img read more

All change for Square Mile shopaholics

first_img whatsapp Tags: NULL KCS-content Share whatsapp SHOPPING centre One New Change opens its doors to customers on Thursday, though up to 30 per cent of the shops will not be ready for the launch. Several people close to the development have said between 70 and 90 per cent of retailers will open on Thursday, with the rest aiming to complete their shop fit-outs shortly afterwards. Brands including Gap Kids and Eat will not be open in time for the ribbon-cutting ceremony later this week. “The main brands, including Top Shop, H&M, Superdry and Marks & Spencer will be opening on Thursday, and the whole thing will effectively be open by December,” said David Kenningham, executive director at letting agent CB Richard Ellis. Westfield, the last central London shopping centre to open, managed to launch with around 85 per cent of its shops open for business in 2008. Project developer Land Securities has recently signed an unnamed restaurateur to run the café and restaurant on the roof terrace, which is due to open to the public on 18 November. Gordon Ramsay’s restaurant inside the mall will open next year. The centre will be open seven days a week, with virtually all shops trading during the weekend. “We don’t have a target for footfall during the weekends, but I think retailers will be surprised at how much trade they get,” said Kenningham. “Weekend trading will slowly build up, from both tourists and Londoners.”LAND SECURITIESThe Land Securities logo will be popping up all over the City in the coming months, as several ambitious construction projects across the Square Mile commence. The FTSE 100 company, which is the UK’s largest real estate investment trust, said earlier this month its long-awaited Walkie Talkie project is back on the agenda. The 36-storey skyscraper was shelved during the credit crisis, but the company has now teamed up with Canary Wharf Group to build the distinctive top-heavy building at 20 Fenchurch Street.Construction is scheduled to begin in January (a bold move, since the joint venture has not yet secured any pre-let tenants) and is set to open in 2014. Land Securities is also preparing to refurbish its 75,000 square foot office building at 110 Cannon Street, which will be left empty when current tenant K&L Gates completes its move into a new office at One New Change next year. Meanwhile, the company has hired architect Fletcher Priest to help overhaul 50 Ludgate Hill, a glass-fronted tower currently let to the Crown Prosecution Service. The company aims to submit planning permission in 2011. Land Securities also plans to renovate 76 Shoe Lane, a retail and office block that, according to the company’s website, was once used in an episode of Doctor Who. On top of these construction projects, there is the small matter of the 9.7m square feet of office space across London that Land Securities lets and manages. The company is nominated for Property Firm of the Year at the first City A.M. awards, which will be announced on Thursday. Also nominated are British Land, Heron, Sellar Property and CB Richard Ellis. Show Comments ▼ All change for Square Mile shopaholics Sunday 24 October 2010 10:47 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldlast_img read more

HOW BIG IS RUPERT’S HEADACHE?

first_img whatsapp HOW BIG IS RUPERT’S HEADACHE? Share Tags: NULL More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comConnecticut man dies after crashing Harley into live bearnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com KCS-content center_img Q.SO WHO IS INVESTIGATING THE NEWS CORP BID?A.Business secretary Vince Cable has asked communications watchdog Ofcom to prepare a report for him. Cable will then decide whether an investigation by the Competition Commission should be launched. The European Competition Commission will also decide whether it will launch a separate investigation after being notified of Sky’s intentions on Wednesday.Q.WHY ARE BOTH THE EU AND UK INVESTIGATING?A.As the deal would be worth over £5bn it falls to the European Commission to approve the deal. It will decide whether a full competition investigation needs to take place. But Cable is looking at the deal from a different angle: media plurality. Ofcom will prepare a report advising the business secretary if it thinks the deal could harm UK media.Q.SO HOW LONG IS THAT GOING TO TAKE?A.At the moment we’re not sure. Cable has asked Ofcom to prepare its report by the end of December. He will then consider whether to ask the Competition Commission to investigate. If he goes for this option, a 24 week investigation will be launched which would involve inviting evidence, holding hearings and reporting findings. The European Commission probe would be marginally quicker at around four months.Q.HOW LIKELY IS A FULL INVESTIGATION?A.It’s a pretty good bet. Last time Ofcom looked at a similar case was Sky attempting to take a stake in ITV, and the watchdog decided there were implications for media plurality. It’s difficult to imagine them not expressing similar concerns this time around. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterMartha Stewart CBDShop Martha Stewart’s CBD Products NowMartha Stewart CBD Show Comments ▼ Friday 5 November 2010 12:20 am whatsapplast_img read more

BEST OF THE BROKERS

first_img Tags: NULL whatsapp KCS-content BEST OF THE BROKERS More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPuffer fish snaps a selfie with lucky divernypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com Monday 6 December 2010 7:28 pm HSBCSeymour Pierce rates HSBC a “buy” with a target price of 800p. Its buy case is built on the value of customer deposits and revenues from the circulation of global trade flows. It says the group has a competitive advantage in its international retail banking customer proposition and should benefit from trends in global trade.BRITVICEvolution Securities said Britvic’s profit was in line with its forecasts when the drinks maker announced results last week. The broker notes that management was cautious on 2011, but remains a bullish buyer with a target price of 525p. It says the firm’s “growth defensive attractions” are being underpriced.BETFAIRNumis rates Betfair a “buy” with a target price of 1600p, after the US?state of New Jersey approved the introduction of exchange horse race betting. The broker says Betfair accounts for the majority of online horse race betting in the UK, and sees no reason why it couldn’t become a major player in the US. whatsapp Share Show Comments ▼last_img read more

Era of cheap credit coming to an end

first_img FEW people realise it yet but the era of cheap credit is about to come to an end. I’m not talking about central banks hiking rates or bond yields going up a few notches; rather, my contention is that over the next few years, powerful economic forces will permanently and drastically push up the cost of credit. This will have significant consequences for borrowers, who will suffer, as well as savers, who will benefit.Investment is financed out of savings, and the world is about to go on a capex binge, thanks to Asia. This increased demand for investable funds will push up the rate at which they are made available – and hence force up interest rates. This is a significant change for the world economy, albeit one which would already have become apparent by now in the absence of the recession. Since the 1970s, investment fell from 26.1 per cent of world GDP to 20.8 per cent in 2002, entirely as a result of reduced capital expenditure in rich countries. This was due to the end of the post-war reconstruction boom; a deterioration in the economic environment, with higher and more variable inflation; higher taxes on capital and incomes; a drop in the price of capital goods, especially IT; and a reduction in the share of national income made up of investment-intensive industries such as manufacturing. But while the West was consuming more and investing less, the rest of the world was at a different phase of its development. The global rate started to increase again, hitting 23.7 per cent in 2008, led by a boom in capex in Asia, Latin America and Africa. The figure then slumped back to 21.8 per cent of the world’s GDP last year as a result of the global recession, before starting to recover this year. Cyclical issues aside, we are at the start of another enormous wave of capital expenditure as poor countries become rich and adopt modern technologies, living standards, housing and economies. McKinsey & Co, the management consultancy, argues in Farewell to Cheap Capital?, a fascinating report published by its global institute, that this massive spending by emerging market economies means that the investment rate will keep on rising. By 2020, global investment demand could hit the sorts of levels we last saw when Europe and Japan were reconstructing themselves after the ravages of the Second World War. It could exceed 25 per cent of GDP by 2030, McKinsey predicts.At the same time, global savings will start to fall. China’s savings rate hit 53 per cent of GDP two years ago; this won’t last, just as Japan, Korea and Taiwan saw their savings rates drop as they developed. An ageing population will also cut savings rates, as pensioners draw down reserves. All of which means that it will soon cost more to borrow. One of the drivers of the recent unsustainable boom was excessively low long-term interest rates caused by huge demand for government debt by Asian governments, which created a false market in bonds by investing a large chunk of their national savings in them. Dearer credit will make such bubbles less likely – but it also means that the rate of return required to make an investment project viable will rise, and many currently economically sound ventures will no longer happen, especially in the West. Consumers – especially 20 and 30-somethings in the UK and the US, many of whom assume that money will remain cheap for ever – are in for a nasty shock. [email protected] More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com Show Comments ▼ whatsapp whatsapp Era of cheap credit coming to an end Thursday 16 December 2010 9:12 pm Share KCS-content Tags: NULLlast_img read more

US GDP rise healthier than expected

first_img Show Comments ▼ US economic growth was slightly stronger than previously estimated in the third quarter, but consumer spending was weaker and more of the goods produced ended up on warehouse shelves, official figures showed.Gross domestic product growth was revised up to an annualized rate of 2.6 per cent from 2.5 per cent, reflecting a higher than previously estimated pace of inventory accumulation, the Commerce Department said in its final estimate of third-quarter GDP.Economists had expected GDP growth, which measures total goods and services output within US borders, to be revised up to a 2.8 per cent pace. The economy expanded at a 1.7 per cent rate in the second quarter.Despite the less robust-than-expected reading for the third quarter, economists said they were optimistic growth was accelerating in the final months of the year.“The more recent data suggests we’re seeing reasonably healthy retail sales growth, pretty healthy investment spending, some growth in employment, so maybe the core growth or final sales growth is starting to accelerate in the fourth quarter,” said Zach Pandl an economist at Nomura Securities International in New York. John Dunne Wednesday 22 December 2010 11:04 am US GDP rise healthier than expected by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNight DailyHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeNight DailyBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesTaco RelishOnly People With An IQ Of 130 Can Name These ItemsTaco RelishUpbeat NewsThese 25 Celebrities Ruined Their Career in a Matter of MinutesUpbeat NewsMoney VersedWoman Shares The 5 Words She Said That Left Her Boyfriend In AweMoney VersedElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldComedyAbandoned Submarines Floating Around the WorldComedycenter_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof Tags: NULL Share whatsapp whatsapplast_img read more