Merchant Securities says outlook is good as trading improves

first_img Merchant Securities says outlook is good as trading improves Wednesday 22 September 2010 7:45 pm Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily 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 ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proof whatsapp Investment services firm Merchant Securities said yesterday that trading in its first half has been “very encouraging” and that it is on target to beat last year.Chairman John Green told investors at the company’s annual meeting that the improvement “resulted from our strategy to diversify the business base.”The group saw its business surge back to profitability when it announced its full year results in July, helped along by improved trading conditions and the acquisition of wealth manager Cavendish Young.Merchant turned last year’s pre-tax loss of £4.58m into a £640,000 profit. Revenue increased by 40 per cent to £7.61m, including a seven-month contribution to the private client wealth management arm from Cavendish. Share Show Comments ▼ KCS-content whatsapp Tags: NULLlast_img read more

Black hole in Miliband plan, say the Tories

first_img More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comPuffer fish snaps a selfie with lucky divernypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.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.com KCS-content Black hole in Miliband plan, say the Tories whatsapp Thursday 23 September 2010 8:23 pm Show Comments ▼ Sharecenter_img THE Tories have stepped up their attacks on the Labour leadership candidates, claiming bookies’ favourite David Miliband must find £55bn of cuts to pay for his campaign promises.Ed Miliband, who is also within touching distance of winning the leadership contest, will have to find £67bn of spending cuts to fulfil his pledges, the Tories say. David Miliband backs former chancellor Alistair Darling’s deficit reduction plan, which implied £44bn of cuts by 2014-15. But the Tories say he has opposed £33bn of cuts outlined by the coalition, including a rise in VAT, cuts to housing benefit and linking public sector pensions and benefit to the CPI measure of inflation. He has also made a raft of spending promises in the campaign, including more free school meals, a living wage and a national care service for the elderly. The Tories say these will cost more than £22bn.Having outlined just £11bn of new taxes, such as a mansion tax and a levy on bankers’ bonuses, that means he must find £55bn of cuts or taxes, the Tories say. Meanwhile, the Tories say Ed Miliband has made over £28bn of spending commitments, while offering just £5bn of tax rises. That would mean he has a £67bn black hole in his campaign promises, assuming he backs Darling’s deficit reduction plan. The claims are contained in a dossier authored by Matt Hancock, a new Tory backbench MP and a former adviser to chancellor George Osborne. He said “Both Milibands have feebly opposed all action the coalition has taken to deal with the deficit, and have made billions of further promises.”But an aide to David Miliband dismissed the findings. “David’s always said he’d wait for the comprehensive spending review before offering detailed plans. We don’t even know what they’re cutting yet – it’s a bit rich for them to start asking us.” The dossier comes a day before the result of the Labour leadership ballot, which will be announced on the eve of the party’s conference in Manchester tomorrow. Bookmakers and party insiders expect a photo finish between the Miliband brothers.FAST FACTS | HOW LABOUR WILL CHOOSE ITS NEW LEADERTHE VOTEThe voting is split equally three ways between Labour members of the national and European parliaments, party members and members of affiliated trade unions who have not opted out of paying a political levy.The votes for each nominee in each section are then calculated as a percentage of the total votes cast in that section.If any candidate receives a majority of votes, they are declared the leader. If not, the last-placed contender drops out and their second preferences are reallocated, until someone passes the 50 per cent figure.The winner will be announced on Saturday before the party’s annual conference in Manchester. SHADOW CABINETThe new leader will not have the power to choose members of the “shadow” cabinet, the Labour front-bench team that monitors, criticises or opposes the decisions of ministers from the Conservative-Liberal Democrat coalition.Labour members of parliament will elect 19 members of the shadow cabinet, of whom at least six must be women. Nominations open on September 26 and the results will be announced late on October 7.The new leader decides which cabinet job each of those elected will get, but the procedure means he or she could end up working with shadow cabinet members who have a different political viewpoint. Tags: NULL whatsapp 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 Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comlast_img read more

House prices in record monthly fall

first_img House prices in record monthly fall Thursday 7 October 2010 3:50 am Show Comments ▼ whatsapp John Dunne Share whatsappcenter_img 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 AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times House prices dropped 3.6 per cent in September from the previous month, according to the latest figures from the Halifax.It represented the biggest monthly drop since figures were first compiled in 1983.The group said an increase in the number of properties on the market, combined with a drop in demand fuelled by uncertainty over the economy, forced prices down.Martin Ellis, housing economist with Halifax, said it is too early to conclude that September’s fall represents the beginning of a sustained period of declining house prices.He added: “Looking at quarterly figures – a better measure of the underlying trend – house prices in the third quarter of 2010 were 0.9 per cent lower than in the second quarter of 2010.“This rate of decline is significantly slower than the quarterly changes of between minus five per cent and minus six per cent that were seen in the second half of 2008.”The average UK home is now valued at £162,096, the survey found. More From Our Partners Killer 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.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.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.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comConnecticut man dies after crashing Harley into live bearnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com Tags: NULLlast_img read more

Wetherspoon shares hit as execs leave

first_img Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap KCS-content whatsapp JD Wetherspoon yesterday surprised investors by announcing the departure of two of its top executives.Finance director Keith Down and chief operating officer Paul Harbottle are to leave the pubs group “in due course” said a statement, which offered no explanation for the sudden shake-up.Wetherspoon’s has weathered the economic downturn well, with Down considered a top executive by the City.Hugh-Guy Lorriman at Seymour Pierce said: “The news is frankly disappointing. Keith Down has a high profile in front of investors and the analyst community.”He added: “We felt he was impressive in his role. He has been a strong and steady pair of hands.”Down joined JD Wetherspoon in January 2008 from Tesco. He was also company secretary.In a note to clients, Evolution Securities analyst Nigel Parson said: “The announcement… has raised our curiosity and joint departure announcements like this are most unusual.” Parson added: “It’s an uncompromising culture at Wetherspoon and you either like it or you don’t.” The company’s shares fell 12.5p to 442.2p. Deputy finance director Kirk Davis will take over the top finance function on an interim basis. Chief executive John Hutson would assume Harbottle’s responsibilities “on an ongoing basis”, the company said in its statement. Share Wetherspoon shares hit as execs leave whatsapp Tags: NULL Thursday 14 October 2010 8:54 pmlast_img read more

NESV gets go ahead for Liverpool deal

first_img Show Comments ▼ 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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org John Dunne Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo Friday 15 October 2010 5:24 am Tom Hicks and George Gillett have lifted the restraining order preventing the Royal Bank of Scotland from completing the sale of Liverpool FC – but claimed they had been victims of an “epic swindle”.The pair said they would claim $1.6bn in compensation.However, New England Sports Ventures – which owns the Boston Red Sox – confirmed it will be able to complete a takeover of the club. NESV gets go ahead for Liverpool deal center_img Share whatsapp whatsapp Tags: NULLlast_img read more

Google gives all its staff a 10pc pay rise

first_img Share Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More KCS-content whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMike HistoryAt 66, This Is Bruce Willis’ Private CarMike HistoryUndoAmoMediaMan Leaves Wife For Her Sister, Her Revenge Is BrilliantAmoMediaUndoBewadaHusband Divorced His Wife After Looking Closer At This PhotoBewadaUndoMold Removal | Search AdsBathroom Mold Removal Tips That Might Surprise Most AmericansMold Removal | Search AdsUndoScalp Psoriasis SearchWhat Exactly is Scalp Psoriasis? See the SymptomsScalp Psoriasis SearchUndo5log – Livinguard®This mask has been sold out in Germany 5 days after the government has tighten up5log – Livinguard®Undocutenova.comTake a Peek at 10 of the Most Expensive Houses in the Worldcutenova.comUndoHealth.recetasgetHeart Attack Early Warning Signs and SymptomsHealth.recetasgetUndoCleaning Services | Search AdsHere’s What Cleaning Services In Scottsdale Should Actually CostCleaning Services | Search AdsUndo Show Comments ▼ Wednesday 10 November 2010 7:29 pm whatsapp More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Google gives all its staff a 10pc pay rise GOOGLE is handing all of its employees a 10 per cent pay rise and a pre-Christmas bonus of $1,000 in a move that will cost the search giant a reported $1bn a year.Employees received the news in an internal memo emailed to staff from Google chief executive officer Eric Schmidt. Tax on the “holiday cash bonus” will also be paid for by Google.“While we don’t typically comment on internal matters, we do believe that competitive compensation plans are important to the future of the company,” a Google spokesman said in an email.The news suggests Google is in strong health as a company – it recruited 1,500 staff in the three months to September. But it also suggests that it is taking fears over staff attrition in Silicon Valley seriously – particularly against main rival Facebook. The company’s chief financial officer Patrick Pichette talked about the Internet industry’s “war for talent” when presenting bullish third quarter financial results last month. In 2009, Google repriced millions of employee stock options whose value had been wiped out. Tags: NULLlast_img read more

Incoming Lord Mayor up early to rehearse for City’s big parade

first_img Alderman Michael Bear, who will become Lord Mayor of the City of London tomorrow, took part in a pre-dawn rehearsal yesterday for this year’s Lord Mayor’s Show (on Saturday 13 November) in front of St Paul’s Cathedral.He will be the 683rd Lord Mayor, whose duties include representing UK-based financial services internationally. This year’s show features a troupe of zulu warriors, samba dancers and Hong Kong acrobats. Events start from Mansion House at 11am and the three-mile long procession winds its way through the City streets, via St Paul’s Cathedral, to the Royal Courts of Justice where the Lord Mayor swears an oath of allegiance to the Monarch. The day culminates at 5pm in a spectacular firework display lit from a barge on the Thames. Wednesday 10 November 2010 7:41 pm whatsapp Incoming Lord Mayor up early to rehearse for City’s big parade whatsapp Sharecenter_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDirect HealthyKate Silverton’s PartnerDirect HealthyUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndo Show Comments ▼ KCS-content Tags: NULLlast_img read more

WHAT THE OTHER PAPERS SAY THIS MORNING

first_img Show Comments ▼ KCS-content whatsapp FINANCIAL TIMESFSA CHIEF WARNS ON BANK RULESEnsuring that the heads of failed banks face punishment would likely require a set of rules that held them to higher standards than other company directors, the head of the City watchdog has warned. Lord Turner, chairman of the Financial Services Authority, makes this argument while defending the FSA’s decision last week not to take action against the directors of Royal Bank of Scotland – whose £24bn loss in 2008 was the biggest in British corporate history and saw the government take a 70 per cent stake in the bank.BLACKSTONE’S SENIOR MANAGERS TO FILL IN WHILE SCHWARZMAN IS AWAYBlackstone is looking to increase the responsibilities of several senior managers as Stephen Schwarzman, its chief executive, prepares to spend much of the next six months outside the US, mostly in Paris, people familiar with the matter say. The move by Schwarzman, 63, has been described by the people as a personal decision, partly led by a request by his wife.XSTRATA STEPS UP SPENDING PLANSXstrata, the acquisition-built mining company, is again stepping up spending on its internal portfolio, budgeting $23bn for new mines, smelters and other expansionary projects between 2011 and 2016. With copper price at an all-time nominal high, the Anglo-Swiss miner will focus expansionary spending on projects in copper and coal and nickel.VICTREX RECOVERY SPARKS SPECIAL DIVIDENDVictrex, the producer of high-tensile, heat-resistant plastics used in cars, aircraft and hip replacements, is to pay out a special dividend of 50p following a strong recovery in full-year revenues and profits. THE TIMESROYAL MAIL IS BEING “FATTENED UP” FOR SALEThe draft legislation to privatise Royal Mail is being unfairly skewed tomake the state-owned group more attractive to future investors, a leading private sector competitor has complained. Ahead of the Postal Services Bill coming to the end of its committee stage in the House of Commons today, TNT Post UK said that the draft legislation as it stands would restrict, not enhance, competition in the postal market.TWO MEN ARRESTED OVER CROWN CURRENCY COLLAPSETwo men were arrested yesterday in connection with an inquiry into Crown Currency Exchange, the Cornwall-based holiday broker that collapsed owing customers about £20m. Devon and Cornwall Police has detained two men, aged 68 and 70.The Daily TelegraphCARL SHAPIRO AGREES TO FORFEIT $625M TO BE GIVEN TO BERNARD MADOFF VICTIMSOne of the first investors in Bernard Madoff’s Ponzi scheme and a lifelong friend of the fraudster has reportedly agreed to forfeit $625m to be given to victims of the fraud. Businessman and philanthropist Carl Shapiro and other representatives of “Shapiro investment advisory account holders entered into an agreement with” US prosecutors in New York.JIM ROGERS: “US GOVERNMENT’S INFLATION DATA IS A SHAM”Leading investor Jim Rogers has blasted the US government’s inflation data as a “sham” that is causing the central bank to massively understate price pressures. Rogers, who shot to fame co-founding Quantum Fund with George Soros, said the Federal Reserve relies too much on housing prices.THE WALL STREET JOURNALMICROSOFT TO ADD “TRACKING PROTECTION” TO WEB BROWSERMicrosoft Corp. says it will revive a powerful privacy feature in Internet Explorer similar to one it dropped from an earlier version of the Web browser because of concerns about alienating advertisers. The software giant said the next version of its browser, Internet Explorer 9, will allow users to stop certain websites and tracking companies from gathering information about them.BOFA TO PAY $137M TO END MUNI BID-RIGGING CASEBank of America Corp. agreed to pay $137m to federal and state authorities for municipal bid-rigging practices in the late 1990s and earlier this decade.The agreement is part of a larger push by the nation’s largest bank by assets to rid itself of legal headaches predating the financial crisis. Tuesday 7 December 2010 9:12 pmcenter_img Tags: NULL Share whatsapp WHAT THE OTHER PAPERS SAY THIS MORNING last_img read more

FTSE bounces in New Year rally

first_img Tags: NULL KCS-content POSITIVE economic news from across the globe saw a sharp rise in London stocks, with the FTSE jumping above the psychologically-important 6,000 barrier.It finished the day up almost two per cent at 6,013.87 – its highest close since the start of June 2008.And US markets also reacted positively after being reassured by the minutes of the Federal Reserve’s December meeting, which showed cautious optimism for the economic outlook. The Dow Jones Industrial Average closed 0.18 per cent higher at 11,691.18 after the announcement.“With the recent data on production and spending stronger, on balance, than anticipated, the staff revised up its projected increase in real GDP in the near term,” the minutes said.“Conditions in the labour market appeared to be improving on balance,” the Fed also recognised.However, the Fed still views progress towards its goals of maximum employment and price stability as “disappointingly slow” and shows no signs of reversing its programme of quantitative easing (QE2).“While the economic outlook was seen as improving, members generally felt that the change in the outlook was not sufficient to warrant any adjustments to the asset-purchase programme,” the minutes said Several members said they had a “fairly high threshold for making changes to the programme.”In the UK, exceptionally strong manufacturing data spurred market sentiment earlier in the day. Economists were predicting a decline in December’s factory activity, but it soared to a 16-year high.“The manufacturing sector ended 2010 in really good shape and made a healthy contribution to fourth quarter GDP growth,” said Howard Archer of IHS Global Insight, commenting on the purchasing managers’ index (PMI) results. Economists had expected the winter’s blizzards to hamper the resurgent UK manufacturing sector.Even the British housing market received some rare good news, as mortgage approvals unexpectedly increased in November to over 48,000, the Bank of England said. The stockmarket boost came after similar rises on Monday in the US, Europe and Asia, when London was closed for the Bank Holiday.Meanwhile, US data yesterday showed that American factory orders rose in November, surprising economists who had expected stagnation or even a fall in US manufacturing.US auto sales were also up in December, reaching their highest level for 16 months – far outperforming Wall Street expectations and indicating a strong recovery in the coming year. Vehicle sales exceeded 13m in the 12 months to December, closing a year in which car sales rose by 11 per cent — a strong turnaround for the formerly beleaguered industry. The stream of positive economic reports came ahead of the publication of the minutes of the Federal Reserve’s (Fed) December meeting. Share FTSE bounces in New Year rally Tuesday 4 January 2011 9:09 pm whatsapp Show Comments ▼ Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndo whatsapp last_img read more

Confidence growing in City: survey

first_img whatsapp KCS-content Sunday 9 January 2011 11:11 pm whatsapp Share CONFIDENCE among City firms is growing on the back of strong business volumes and expectations of rising profitability, a survey shows today.The Confederation of British Industry (CBI) and PwC Financial Services survey paints a picture of steady recovery in the City over the past quarter, brightened by a boom in individual investment that has driven demand for asset managers and securities traders.But in a stark warning to regulators a majority of firms said they would have to invest more in compliance over the coming year and 80 per cent believed the UK was losing its competitive edge as a financial hub.Andrew Gray, UK banking leader at PwC, said bank confidence was at the highest level seen in five years, while interbank business volumes showed a heartening fall in the past three months.“It reflects the fact that banks have done an awful lot to bolster their balance sheets and become self-sustaining over the past year,” he said. Banks remain optimistic about the next quarter’s outlook, despite seeing little change in business volumes and profit falls in the last quarter. Show Comments ▼center_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack 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 Proof Tags: NULL Confidence growing in City: survey 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 PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comlast_img read more