Drop in German inflation raises worries for euro

first_imgThursday 30 October 2014 8:36 pm Drop in German inflation raises worries for euro Chris PapadopoullosChris Papadopoullos was City A.M.’s economics reporter until February 2016. He is an economist at OMFIF. Share whatsapp Tags: NULLcenter_img The threat of Eurozone-wide deflation and prolonged economic stagnation was heightened by figures out yesterday showing a surprise drop in German inflation.Official data revealed that month-on-month price growth was minus 0.3 per cent from September to October. The number is down from September’s month-on-month growth of minus 0.1 per cent.Annual inflation still remains above zero at 0.7 per cent. But the annual figure also represents a slowdown after September’s 0.8 per cent year-on-year growth. Deflation has become a major worry for the Eurozone. Economists are concerned that it could follow the in the footsteps of Japan. In the early 1990s Japan suffered a huge economic crash after a property bubble. At one stage the Imperial Palace was said to be worth more than the entire state of California. After the economy crashed Japan experienced two decades of deflation. During these two decades Japan struggled to sustain economic growth.European officials have boosted attempts to revive inflation by having already reduced some interest rates into negative territory. And last week saw the first purchases of private sector bonds by the European Central Bank, although some economists believe the stock of private sector bonds is too small. Germany remains opposed to purchasing government bonds.German politicians believe government bond purchases will delay necessary supply-side reform across the troubled continent. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likezenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical MattersInvestment GuruRemember Cote De Pablo? Take A Deep Breath Before You See Her NowInvestment GuruThe Chef PickElisabeth Shue, 57, Sends Fans Wild As She Flaunts Age-Defying FigureThe Chef PickMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity Mirror whatsapp Show Comments ▼ Read This NextTig Notaro Never Looks Right in ‘Army of the Dead’The WrapEverything We Know, or Think We Know, About the Time-Keepers on ‘Loki’The Wrap’The Crown’: What Went Into Finding Princess Diana and Margaret ThatcherThe WrapRalph Macchio on the Secret to Making Badass ’80s Fight Scenes in 2021The Wrap’iCarly’: Nathan Kress on Preserving Integrity of Original Show, PromisesThe WrapHappy Juneteenth: 10 Movies to Stream That Celebrate Black JoyThe WrapHow Renee Elise Goldsberry Embraced Her Inner Diva for ‘Girls5Eva’The Wrap’The Hitman’s Bodyguard’s Wife’ Takes No. 1 at Box Office From ‘Quiet PlaceThe WrapBill Maher Pokes Fun at Joe Manchin: He’s a ‘Democrat Except on Matters ofThe Wraplast_img read more

Moody’s downgrades BSkyB due to debt doubling after Sky Deutschland and Sky Italia acquisition

first_img Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPost FunGreat Songs That Artists Are Now Embarrassed OfPost FunMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekYahoo! SearchSearch For Car Donation For CharitiesYahoo! SearchWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped Speed Friday 7 November 2014 12:24 pm whatsapp Moody’s has downgraded BSkyB’s rating after its Sky Deutschland and Sky Italia acquisition more than doubled its funded debt to £7bn.BSkyB moves from Baa1 to Baa2 with a stable outlook, it’s second lowest investment grade, after the broadcaster picked up a larger share of Sky Deutschland than first expected. It picked up an additional 30 per cent of the German pay TV company from shareholders who owned 43 per cent, taking its stake in the business to 87 per cent.The acquisition to create Sky Europe has increased its financial risk according to Moody’s.“Moody’s decision to downgrade BSkyB’s ratings to Baa2 is mainly driven by the increased financial risk stemming from the significant incremental debt incurred to fund the acquisitions. BSkyB has issued GBP1.3 billion of new equity and has monetized certain assets to help fund the deal. But with a total purchase price expected to be around GBP7 billion, the company’s funded debt will more than double to over GBP7 billion compared to only GBP2.7 billion of reported gross debt at the end of fiscal year ending (FYE) 30 June 2014.”The ratings agency also took into consideration BskyB’s decision to suspend its share buyback programme and “stated intent to lever the balance sheet over the medium term Nevertheless, immediately following the transaction BSkyB’s financial metrics will be weak and the company will have limited flexibility within the Baa2 rating until leverage is reduced.”It added in a note:The consolidation of SkyD and Sky Italia will benefit BSkyB by improving its scale and geographical diversification. However, SkyD and Sky Italia have lower margins than the core BSkyB operations and offer rather limited synergies driven by the fact that the companies operate as independent systems in distinct geographic markets, making it less likely that meaningful infrastructure savings can be achieved. In Moody’s view, BSkyB could be challenged to continually drive pay-TV penetration in Germany, despite increasingly positive trends in that country. In Italy, pay-TV competition remains intense, while ongoing macroeconomic weakness is putting pressure on Sky Italia’s performance.The Sky Deutschland share offer is due to be settled on 12 November. 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.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com center_img whatsapp Tags: Company Sky Share Moody’s downgrades BSkyB due to debt doubling after Sky Deutschland and Sky Italia acquisition Lynsey Barber last_img read more

Best of the Brokers for 25 November 2014

first_img More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comKansas coach fired for using N-word toward Black playerthegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comColin Kaepernick to publish book on abolishing the policethegrio.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com Best of the Brokers for 25 November 2014 Share To appear in Best of the Brokers, email your research to [email protected] reiterated its “reduce” rating. The mining firm is selling the remainder of its alluvial assets, which made up 4.4 per cent of production in 2013. While the broker said the deal was “a drop in the ocean”, it also noted that it placed the firm in a better position to reduce debt.RANDGOLD RESOURCESCanaccord Genuity reiterated its “hold” rating after Randgold’s recent investor day. According to the broker, the firm’s presentations reinforced the long-term strengths of the company, but “there were no short-term drivers” that would lead it to change its forecast.SEVERN TRENTWhitman Howard reiterated its “hold” rating ahead of the firm’s interim results. The broker said it did not foresee “any major surprises” and added that the outcome of the water price control review remained of greater interest. Target price was increased to 2,037p from 1,852p. whatsapp Show Comments ▼ Express KCS whatsapp Monday 24 November 2014 8:34 pm Tags: NULLlast_img read more

Watchdog reshuffle: Zitah McMillan and Victoria Raffe set to leave FCA ahead of Davis report

first_imgMonday 8 December 2014 9:14 pm Caitlin Morrison A drastic shakeup of top positions at the City’s main financial watchdog was announced yesterday, ahead of tomorrow’s release of a damning report on failings at the regulator.The Financial Conduct Authority (FCA) confirmed that executives Zitah McMillan and Victoria Raffe are to leave the organisation, which is to undergo a complete restructure. The departure of director of supervision Clive Adamson was also confirmed, having been revealed last week.The changes were made following a strategic review at the public body. Yet the decision to go ahead with such a radical restructuring before the contents of tomorrow’s report can be digested by the public and fellow authorities has raised eyebrows. A Treasury source said the announcement had an “elephant in the room appearance”, as it did not mention the forthcoming Davis report.The report is into the FCA’s handling of a selective leak to the media in March 2014. Billions of pounds were wiped off the market value of several insurance firms when the Telegraph reported that the regulator was to conduct a review into 30m policies.Clifford Chance partner Simon Davis was appointed to conduct an investigation into the affair.“We’d be in jail by now if we’d done what they did,” one insurance exec told City A.M. yesterday. “The organisation is totally out of control.”The FCA said that the reorganisation is unrelated to the Davis report.The winner of the FCA’s reshuffle appears to be director of enforcement Tracey McDermott, who is to take on a raft of new responsibilities as she manages part of the organisation’s restructure.She has been tasked with combining the current Authorisations and Supervision divisions. This joint division will then be split up again, with two new divisions forming from 1 April 2015. McDermott will run one of these divisions. McDermott is seen as one of the more aggressive senior figures at the regulator, alongside chief executive Martin Wheatley.She takes “a pretty jaundiced view of most business practices”, according to one City source last night, who added: “She takes a most aggressive line with commercial business.”The chairman of the Treasury Committee, Andrew Tyrie MP, said “serious concerns” have been raised about the way the watchdog has approached its responsibilities since it rose from the ashes of the Financial Services Authority in April 2013. The Treasury Committee examines the expenditure, administration and policy of the FCA and other public bodies. Tyrie added that although the changes announced yesterday looked substantial “at first glance”, the committee would need to examine the review in detail.“It is also crucial that the FCA learns any lessons that emerge from Mr Davis’s report,” he added. “The Treasury Committee was instrumental in ensuring that the apparent major error by the FCA in March 2014 was subject to independent external review. The Committee intends to take evidence on both the pre-briefing inquiry and the strategic review in the coming weeks, initially from Mr Davis.”Oliver Parry of the Institute of Directors was hopeful about yesterday’s changes. “I think it’s important in view of what’s happened with the leak that the FCA takes stock and tries to move forward in a way that helps regulation but also helps the City,” Parry said. Show Comments ▼ whatsappcenter_img whatsapp Share Watchdog reshuffle: Zitah McMillan and Victoria Raffe set to leave FCA ahead of Davis report Tags: FCAlast_img read more

Spire earnings forecast up after healthy trading

first_imgSpire Healthcare Group yesterday upgraded its revenue expectations for the year after strong trading in the fourth quarter.It added that it expected earnings for the year to increase on the back of the contribution from the St Anthony’s Hospital acquisition.Spire said its trading in the fourth quarter was positive, meaning it now expected revenue for 2014 to be £850m-£855m, an increase on the £820m to £840m guidance it gave in its interim statement in November.The group expects its earnings before income, taxation, depreciation and amortisation (Ebitda) for the full year to be £157m to £160m. That compares with Ebitda of £150m for 2013.Spire said both its revenue and earnings would be boosted by the contribution from St Anthony’s Hospital in Sutton, south west London, which it purchased earlier this year.It said its revenue rose for its private medical insurer and self-pay businesses over the year, and revenue from the NHS continues to grow ahead of private revenue. Spire expects NHS revenue to account for around 29 per cent of the total for the full year, up from 25 per cent last year. “As Spire finishes its first financial year as a public company, I am pleased to note that during the period we have grown revenues and Ebitda from all our three major payor groups,” said Rob Roger, the chief executive of Spire Healthcare.“I shall comment more fully on the outlook for 2015 when we announce our preliminary results for financial year 2014. “However, in view of our recently renewed Bupa contract and our expectation of continued growth in our Self-Pay and NHS payors, I am confident that we can continue to grow all parts of our business in the next financial year and beyond,” Roger added.Shares in Spire closed down 0.84 per cent at 353.40p. Spire earnings forecast up after healthy trading whatsapp Share Show Comments ▼ Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoHero WarsAdvertisement This game will keep you up all night!Hero WarsUndoTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekUndoThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus EliminatorUndoMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical MattersUndoBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDUndocenter_img More From Our Partners Fans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comColin Kaepernick to publish book on abolishing the policethegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKansas coach fired for using N-word toward Black playerthegrio.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com Tags: Company Spire Healthcare Group whatsapp Tuesday 13 January 2015 8:57 pm Express KCS last_img read more

Eurasia Drilling to merge with Schlumberger

first_img More From Our Partners Kansas coach fired for using N-word toward Black playerthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com OIL AND gas firm Schlumberger is set to acquire a 45.65 per cent minority shareholding in Russian company Eurasia Drilling for around $1.7bn (£1.1bn). The deal will involve Eurasia delisting from the public market, which is slated to take effect from 23 February. The transaction will deliver $22 a share to shareholders, which represents a premium of 81.1 per cent on Monday’s closing price.The price Schlumberger has agreed to pay includes the cost of a call option and various non-competition agreements. The call option will allow the firm to purchase the remaining shares in Eurasia during a two-year period commencing three years from the closing of the transaction.Roderick Peacock, chairman of Xenon Capital Partners, which is advising Eurasia Drilling’s core shareholders, said: “The sharp reduction in oil and gas prices over the last six months is likely to result in industry consolidation because of lower exploration and production activity. In this context, the proposed transaction offers minority shareholders the opportunity to realise a very substantial premium.”He added that the deal would establish an “exceptionally strong platform for delivering drilling services to Russia’s oil and gas industry as future market conditions stabilise”.Kirill Dmitriev, chief executive of the Russian Direct Investment Fund, commented: “This is a real vote of confidence by a major global company in Russian growth opportunities and the fundamentals of the oil and gas sector, in particular.” Tuesday 20 January 2015 8:18 pm whatsapp Tags: NULL Share Eurasia Drilling to merge with Schlumberger whatsapp Show Comments ▼ Express KCS last_img read more

Alibaba’s growth misses target making Yahoo investors groan

first_imgThursday 29 January 2015 9:02 pm whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive SupplementNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyVikings: Free Online GameIf you’re over 50 – this game is a must!Vikings: Free Online GameConsumer TechSee Everything from Miles Away Like You Are Standing Next to ItConsumer Tech Express KCS Show Comments ▼ ONLINE media group Yahoo, one of Alibaba’s largest shareholders, saw its shares tumble 5.8 per cent yesterday after the Chinese e-commerce giant reported slower than expected growth.Alibaba’s revenue rose 40 per cent to $4.22bn (£2.8bn) in the quarter to the end of December, but missed analyst’s expectations of $4.45bn, sending its shares down 8.8 per cent. The quarterly results are the second since Alibaba’s record-breaking $25bn New York Stock Exchange float last year.Net income actually fell 28 per cent to $964m, due to “an increase in share-based compensation expense, a one-time charge for financing-related fees and an increase in income tax expenses” during the period. Earlier this week Yahoo announced plans to spin out its $39bn stake in Alibaba into a separate publically traded company.Alibaba’s shares closed at $89.81 and Yahoo closed at $43.73 last night. Alibaba’s growth misses target making Yahoo investors groan center_img More From Our Partners LA news reporter doesn’t seem to recognize actor Mark Currythegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.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.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.com Share whatsapp Tags: NULLlast_img read more

Revival in the regions helps St Modwen smash expectations

first_img Express KCS Revival in the regions helps St Modwen smash expectations whatsapp Show Comments ▼ Share Tuesday 3 February 2015 8:39 pmcenter_img whatsapp More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.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.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comWhy people are finding dryer sheets in their mailboxesnypost.comPuffer fish snaps a selfie with lucky divernypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com St Modwen smashed analyst forecasts yesterday after posting a 68 per cent jump in full-year profits, thanks to a revival in the regional property market and its burgeoning commercial developments. The company, which is redeveloping Britain’s biggest flower and vegetable market, New Covent Garden in Nine Elms, said pre-tax profits rose to £138.1m in the year to 30 November, up from £82.2m last year. Its net asset value per share jumped 16 per cent to 344.2p compared with the previous year, while profits on property rose 45 per cent. Chief executive, Bill Oliver, said: “This has been an exceptional year for St Modwen and we have achieved significant progress across all of our major projects as well as increasing our active pipeline of commercial development opportunities to over 3m square feet of space.”“The residential part of the business continues to perform well with good sales rates achieved throughout the year and we anticipate a sustained performance into 2015,” he added. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Weekzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorDefinitionThe Most Famous Movie Filmed In Every U.S. StateDefinitionTheFashionBallPrince Harry Admits Meghan Markle May Not Be The OneTheFashionBallArticles SkillHe Left Wife For Her Sister, Then She Wins It AllArticles SkillSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Tags: Company St Modwen Propertieslast_img read more

UK productivity: Fourth quarter of 2014 worsened and absence of growth is “unprecedented”

first_img whatsapp whatsapp Lynsey Barber The UK’s productivity fell at the end of last year leaving rates of growth at “unprecedented levels” not seen since the end of the Second World War.Productivity fell 0.2 per cent in the last quarter of 2014 compared to the previous quarter, leaving annual growth at 0.3 per cent for the year. It left output per hour at a lower level than before the financial crisis in 2007 and “little changed” on 2013. The official figures from the ONS which include the revised historical estimates stretching back to 1948 paint a bleak picture of the last seven years in which there was no growth in labour productivity, despite other figures indicating growth in Britain’s economy.”Productivity currently remains limited compared to pre-crisis levels and the latest relapse will fuel concern that much of this has to do with structural factors,” said IHS chief economist Howard Archer. “”How productivity develops going forward will be a critical factor in how soon and how far the Bank of England raises interest rates.  If productivity has taken a significant lasting hit, it means that the economy has less potential to grow without generating inflationary pressures and that interest rates will need to rise at an earlier stage,” he added.A previous rise in the third quarter of 0.5 per cent had fueled hopes that the productivity puzzle had finally been solved. The latest figures will come as a blow to the Conservative party and George Osborne as they trumpet the recovering economy to potential voters ahead of May’s General Election.The latest figures on manufacturing show growth in the sector is at an eight-month high. Share Wednesday 1 April 2015 8:19 amcenter_img Show Comments ▼ UK productivity: Fourth quarter of 2014 worsened and absence of growth is “unprecedented” Tags: NULLlast_img read more

Panmure Gordon: Tight General Election race is good for investors

first_img Share Tuesday 7 April 2015 8:33 pm Express KCS 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 ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekComedyAbandoned Submarines Floating Around the WorldComedyNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent ExpressMoneyWise.com15 States Where Americans Don’t Want To Live AnymoreMoneyWise.com whatsapp A close General Election leading to another coalition government is good for stock market investors, economists at Panmure Gordon said yesterday, defying the conventional wisdom that this would bring bad uncertainty.In a boost to the Liberal Democrats, the analysis argues that both Labour and the Conservatives have policies which would damage the economy, while another coalition would moderate these.“An inconclusive election requires the resultant government to build a consensus to get policy agreed. This should present a fair attraction to investors,” said Panmure Gordon’s senior economist Simon French.“A workable majority for any party to pursue a withdrawal from the EU, radically reshape the tax code, tighten migration or introduce price controls across a range of markets carries with it much more risk. Investors favouring a conclusive election result should be careful what they wish for.”French predicts the Conservatives will emerge as the party with the largest number of seats, and will govern as a minority party with parliamentary support from the Lib Dems, Ulster Unionists and Ukip.By contrast, the economist does not expect Labour to strike a deal with the SNP for fear of harming its reputation in England and Wales.He also believes investors should not be too worried about any government’s impact on the economy.Despite their claims to steer the economy, the biggest variables – such as interest rates, demographics and the price of oil and other globally traded goods – are entirely outside of politicians’ control, limiting their ability to impact growth. center_img Show Comments ▼ Panmure Gordon: Tight General Election race is good for investors whatsapp Tags: General Election 2015last_img read more