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November’s data showed that non-farm payrolls rose by 203k, moderately firmer than consensus estimates of +185k.
Simon Hamilton, head of Investec Fund Finance, discusses the issues that private equity firms face as the industry adapts to the post-crisis environment. These conclusions are based on insights from 15 senior executives in the European private equity market and form part of a new study published by Investec.
August’s CPI inflation figures were on consensus, edging down to 2.7% (Investec forecast also 2.7%) from 2.8% in July, with few categories having a major effect on the figures. The primary downward influences were clothing and petrol prices, with both groups showing monthly increases which were more modest than in August last year. These offset upward influences from areas such furniture and food.
The MPC is set to maintain the stance of monetary policy at its September meeting on Thursday. The committee currently judges that current monetary conditions, plus the interest rate guidance introduced earlier this month, will foster the appropriate economic conditions to meet the inflation target.
Mark Carney’s first MPC meeting may have been unremarkable in terms of the headline policy announcement, as the committee kept the stance of policy unchanged, as expected. The asset purchase target has stood at £375bn for a year now, while the Bank rate has been at its record low of 0.5% since March 2009.
Given the ugly moves in Portuguese yields, it is discomforting that we can identify some credible events which could knock the Irish economy’s base case off course. Investec Ireland’s Chief Economist, Philip O’Sullivan explains why he remains optimistic, without being complacent.
Chancellor George Osborne presented his latest spending review today, termed Spending Round 2013 (SR 2013), covering the year 2015/16. The aggregate figure or ‘envelope’ for the widest measure of public spending (Total Managed Expenditure or TME) in 2015/16 was set at £745bn in the Budget in March and this has not changed. The purpose of the review therefore was to set out some details on how this will be achieved through allocating the available funds across various departments.
While cloud computing appears to have moved beyond the “hype cycle” of two years ago, its commercial importance seems to becoming more important and spending on cloud computing could eclipse that on traditional computing by the end of the current decade.
For the past two years, Investec has supported the Hot 100, an established and rigorous ranking of the UK's fastest-growing privately-owned companies, conducted by Real Business. Devised using the compound annual growth rate measured over a four-year period1, the 2013 Investec Hot 100 provides a highly interesting insight into the UK heartland economy the UK regions and sectors that are performing strongly as well as business owners' views on the outlook for the UK economy.
In Sir Mervyn King’s 194th and final MPC meeting, the committee held the stance of policy steady as expected, maintaining both the asset purchase target at £375bn and the Bank rate at 0.5%.