Syria tensions ease allaying fears of oil price spikes September 11, 2013 Ishaq Siddiqi, market strategist, ETX Capital on the likelihood of US intervention in Syria and possible market reaction: Syria tensions ease considerably overnight as US President Obama in his speech acknowledges drumming support in Congress for a strike at Syria was hard found and has opted for diplomacy with Russia to disarm the Middle Eastern [...]
Historic real wage squeeze drags on whilst declining public sector remains insulated September 11, 2013 Data published today by the Office for National Statistics shows that the second quarter has seen a continued decrease in UK public sector employment but an increase in the private sector. Figures suggest a continued push by government to whittle down the public sector. Whilst it is encouraging that public sector jobs are [...]
This is now a total employment recovery – and it brings Carney’s forward guidance into question September 11, 2013 The most encouraging news in today's jobs data is the confirmation that the shift from part-time to full-time employment is in full swing. From the peak of the crisis, full-time employment numbers have been crushed, with part-time jobs filling the void. Now we're seeing the pendulum swing back as the UK's economic recovery strengthens. The [...]
Serco saga continues with promise to clean up for prison and custody services September 11, 2013 Serco's response to a government-wide review of its prison and custody services has today been updated. (Release) The review, announced in July and initiated by an independent audit by the Ministry of Justice (MoJ), alleged fraud in government-contracted services provided by Serco and G4S: The Ministry of Justice (MoJ) and the Directors of [...]
Unemployment falls to November 2012 lows September 11, 2013 UK unemployment has fallen unexpectedly to November 2012, according to new figures from the ONS. Down from 7.8 per cent to 7.7. per cent, analysts had expected the unemployment rate to stay flat in the three months to July. More details and analysis on the live blog.
UK unemployment falls unexpectedly with biggest claimant count drop since February 2009 September 11, 2013 Job data improvement in the UK -The headline unemployment rate has fallen from 7.8 per cent to 7.7 per cent in the three months to July, despite analysts anticipating no change. The claimant count rate drops from 4.3 per cent to 4.2 per cent in July. Again, no change was expected here. That change driven [...]
Chocolatier Thorntons returns to black two years into group turnaround September 11, 2013 Thorntons has swung back into profit, making £3.753m before tax in the 52 weeks ended 29 June (release). In the 53 weeks ended 30 June 2012 Thorntons saw pre-tax losses of £2.214m. Our retail reporter Kasmira Jefford on the group's efforts to overhaul itself: The Derbyshire-based group is two years into a three-year plan that [...]
Before the open: Spotlight on UK unemployment as markets open September 11, 2013 There is a keen focus on UK unemployment this morning following the Bank of England's introduction of an unemployment threshold for interest rates. Earlier this month the Bank announced its decision to fix interest rates at 0.5 per cent until unemployment, which is currently at 7.8 per cent, falls to seven per cent. Asian markets [...]
Barratt profits jump as their typical house price rises to £194,000 September 11, 2013 Barratt Developments hasn't just seen pre-tax profits jump (up from £100m to £104.8m in the year ended 30 June) but average selling prices too (release). Some solid numbers, and dividend payments are set to recommence (not new information). On that basis, CS are calling Barratt up one to two per cent on the open. A [...]
African Barrick COO resigns with immediate effect to “pursue other interests” September 11, 2013 A surprise departure in the FTSE 250 this morning. African Barrick Gold's chief operating officer (COO) has upped and left (release). Marco Zolezzi, who's been in the job since September 2010, has "resigned with immediate effect to pursue other interests." For now, CEO Brad Gordon takes responsibility for the role. He commented on Zolezzi's resignation: [...]