September 4

MPs warn over Osborne watchdog

first_img whatsapp THE government’s fiscal watchdog should be entirely independent of the Treasury, an influential group of MPs has said, if it is to avoid accusations of political bias. In its first report on the Office for Budget Responsibility (OBR), published today, the powerful Treasury Select Committee says the watchdog should be “an institution with its own legal personality, responsible for appointing its own staff”.The OBR, which is charged with providing economic forecasts free from political interference, is currently an adjunct of the Treasury and borrows most of its staff on secondment, leading to accusations that it cannot be truly independent. Its autonomy was called into question in June, after former chair Sir Alan Budd rushed out unemployment forecasts ahead of schedule, allowing David Cameron to use the figures as ammunition in a highly-charged session of Prime Minister’s questions.Andrew Tyrie, chairman of the committee, said: “For the OBR to succeed, it will have to be, and be seen to be, independent, particularly after the difficult early period of the interim body.”George Osborne set up the OBR to stop chancellors from “fiddling the figures to fit the Budget”, but today’s report will put him under pressure to make the body more independent than originally envisaged. An aide to Osborne said he had already pledged to house the OBR in a building outside of the Treasury, but that he had not yet taken a view on whether it should be legally independent. But Chuka Umunna, a Labour member of the select committee, said: “Just putting it in a different building is not enough to give the public and the City the impression that it is independent.”The Treasury select committee has already convinced the chancellor to give it a veto over any plans to hire or dismiss the OBR’s chairman. Last week it approved the appointment of Robert Chote, formerly director of the Institute of Fiscal Studies, as the new chair. The OBR is currently operating on an interim basis, and its final incarnation will depend on legislation due in the Autumn. KCS-content Show Comments ▼ MPs warn over Osborne watchdog Share whatsapp Monday 20 September 2010 9:36 pm More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comPuffer fish snaps a selfie with lucky divernypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Tags: NULLlast_img read more

September 4

ANALYST VIEWS: WHAT IS THE OUTLOOK FOR MAN GROUP?

first_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 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 whatsapp DAVID MCCANN | NUMIS“Flows, performance and fees were weaker than expected in the first half, but we remain positive on the stock as we believe the combined Man/GLG could become one of the most powerful forces in both product and distribution in the alternatives space, in which we expect structural growth in the future.”NIC CLARKE | CHARLES STANLEY“This is the eighth quarter in a row of net client withdrawals, as investors continue to react to the poor performance of AHL in 2009. However, AHL has performed well compared to the markets this year and the acquisition of GLG should offer Man a broader range of products to market when the deal is completed.”JONATHAN JACKSON | KILLIK & CO“We believe the long-term proposition of alternative investment strategies is positive. The performance of Man’s AHL fund has improved and, in time, this will lead to the generation of high margin performance fees and growth in assets under management.The acquisition of GLG provides the opportunity to make greater use of the group’s spare capacity in distribution.” Share ANALYST VIEWS: WHAT IS THE OUTLOOK FOR MAN GROUP? center_img Show Comments ▼ Tags: NULL 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 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.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Tuesday 28 September 2010 10:53 pmlast_img read more

September 4

Euro Zone trade surplus bigger than forecast

first_img Euro Zone trade surplus bigger than forecast whatsapp Monday 15 November 2010 6:03 am Euro Zone had a bigger than expected trade surplus in September as export growth outpaced the rise in imports year-on-year, official statistics have shown.The European Union’s statistics office Eurostat said the 16 countries using the euro had a trade surplus with the rest of the world of 2.9bn euros in September, up from 1.4bn last year and a deficit of five billion euros in August.Eurostat said unadjusted exports grew 22 per cent year-on-year in September, while imports were up 21 per cent.Adjusted for seasonal swings, exports grew 0.6 percent month-on-month in September while imports fell 2.5 per cent against August. John Dunne Sharecenter_img Tags: NULL Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More 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 FollowAlphaCuteUndoBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushUndoDirect HealthyKate Silverton’s PartnerDirect HealthyUndo 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 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 whatsapplast_img read more

September 4

Rolls-Royce is set to replace A380 engines

first_imgMonday 15 November 2010 7:52 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm whatsapp Tags: NULL KCS-content ROLLS-ROYCE is temporarily replacing engines on Airbus super-jumbos to fix a part that caused an engine on a Qantas jet to break up in mid-flight, it emerged yesterday.The jet engine maker is thought to be planning to remove Trent 900 engines with the faulty component from Airbus A380s in service and to replace them with other engines while it renews the part. A Rolls-Royce spokesman refused to comment.The news follows the incident on November 4 in which a Trent 900 on flight QF32 flying to Sydney from Singapore partially disintegrated.The accident forced the jet to make an emergency landing in Singapore.Rolls said the failure of the part inside the Trent 900’s turbine caused an oil fire that damaged a disc inside the engine.There are 80 Trent 900s in service on Airbus A380s run by Qantas, Singapore Airlines and German flag carrier Lufthansa.Rolls said on Friday that the measures would mean underlying profits in 2010 would rise slightly less than the four to five per cent forecast in July.Chief executive Sir John Rose said airlines would be able progressively to return the A380 fleets to service.“We regret the disruption we have caused,” he said. Rolls-Royce shares closed last night down 14p at 597p. center_img Share whatsapp 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 Rolls-Royce is set to replace A380 engines Show Comments ▼last_img read more

September 4

JP Morgan to hire 100 corporate bankers

first_imgFriday 10 December 2010 2:27 am JP Morgan to hire 100 corporate bankers Show Comments ▼ Share John Dunne 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 PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndoHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndo Tags: NULLcenter_img More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel 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.com whatsapp whatsapp JPMorgan Chase & Co is hiring 100 corporate bankers outside the United States, in a bet that loan demand in the rest of the world will grow faster than in the bank’s home base.The bank is planning to add to the 200 international bankers it already has over the next two years, with the aim of selling more JPMorgan products to the biggest 3,000 companies worldwide.“We have a pretty aggressive plan to expand in 2011,” Greg Guyett, chief executive of the global corporate bank, told Reuters in a recent interview in London.Guyett was named late last year to head the global corporate bank, which is a joint venture between JPMorgan’s investment bank and its treasury and securities services unit, which processes payments.“We’re trying to do more things with the same clients – that’s job No. 1,” Guyett said.While JPMorgan has always had a global investment banking business, historically it has not been a big lender outside of the United States, unlike other large commercial banks such as Citigroup and HSBC.Now it is ramping up that business, and also hoping to sell clients products like trade finance and basic deposit accounts around the globe.Selling more products to customers, an idea known as “cross-selling” in the industry, has become a popular buzzword for U.S. banks seeking to show they can increase revenue even as expectations for U.S. economic growth remain low.JPMorgan is not alone is looking to developing markets to bolster revenues – Citigroup has also said it is focussed on expanding its already substantial business outside of the United States.Latin America will be one area the global corporate bank focuses on in 2011, Guyett said, noting that other areas where JPMorgan is expanding include India, China and Southeast Asia.To support the global corporate bank, the treasury and securities services business rolled out new branches in countries such as Saudi Arabia this year, and it opened a slew of branches in the Nordic countries two years ago.“These are areas where our clients are growing and where our clients want us to grow,” said Claudia Slacik, chief executive of treasury and securities services in Europe, Middle East and Africa.JPMorgan’s large investment bank is then able to offer a wide range of products to clients in these countries, via the network of corporate bankers, explained Daniel Pinto, co-chair of the investment bank in Europe, the Middle East and Africa. last_img read more

September 4

Europe imposes its men on City

first_img Europe imposes its men on City Thursday 13 January 2011 9:12 pm KCS-content Share Show Comments ▼center_img whatsapp whatsapp Three virtually unknown men took the most important jobs in European financial regulation yesterday, causing consternation in the City.In the latest snub to Britain’s sovereignty, the European Union appointed career policymakers from Portugal, Italy and the Netherlands as chairmen of its three “super-regulators” covering the EU’s markets, banks and insurers.Disappointed City sources warned the exclusion of British finance experts from the regulators’ boards could lead to punitive regulation being imposed without consultation.“The concern among people in London is that not one of the board of the European Banking Authority (EBA) is British, despite France, Germany and other states being represented,” said one industry source.“Given that the UK is the pre-eminent financial services centre in Europe, it is strange that there is nobody from here on the board.”Tom Huertas, banking director at the Financial Services Authority, has been named as alternate EBA chairman to fill the role until the chairman officially starts work.One lobbyist expressed frustration at a “Franco-German stitch-up”.“People will suspect that it is a sop to smaller countries but it’s a bit of a Franco-German stitch up and neither Italy or Portugal are renowned for their financial regulation,” he told City A.M.The overarching banking regulator will be headed by Andrea Enria, head of the Bank of Italy’s supervisory regulations team and a fierce advocate of more centrally-controlled financial regulation.The capital markets regulator, the Paris-based European Securities and Markets Authority, will be led by Steven Maijoor, who spent 22 years as an economics professor at Maastricht University but has never worked in the private sector.And Gabriel Bernardino, an architect of the stringent new Solvency II capital requirements, and currently a department head at Portuguese regulator ISP, will head the European Insurance and Occupational Pensions Authority based in Frankfurt. The three “super-regulators”, established on 1 January, will have powers to agree rules binding on all banks, exchanges, insurers, investment firms, hedge funds, credit rating agencies and mutual funds in the 27-country EU. Rob McIvor, a director at the Association for Capital Markets in Europe, said it was good news that the appointments had been announced so quickly. Tags: NULLlast_img read more

September 4

Female quota has little impact

first_img Female quota has little impact KCS-content Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily 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 ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCheese Crostini: Delicious Recipes Worth CookingFamily Proof Wednesday 26 January 2011 8:43 pm Tags: NULL Sharecenter_img whatsapp whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal 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 ItMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia A QUOTA imposed on top companies at Davos insisting that one of their five delegates is female has made a minimal impact so far, mirroring slow boardroom progress on diversity.The World Economic Forum said the scheme more than doubled participation of female executives from its key partners, although women still only made up around 16 per cent of the 2,500 participants. Some 20 of the 100 partner firms have still chosen to bring all-male delegations to Davos, forfeiting an extra conference pass. last_img read more

September 4

IBM stocks hit a lifetime high

first_imgWednesday 9 March 2011 8:48 pm whatsapp whatsapp SHARES of International Business Machines (IBM) hit a lifetime high yesterday as analysts welcomed the tech giant’s commitment to double its profit by 2015.IBM shares rose as much as 3.3 per cent to $167.72 (£103.50), their highest level on record adjusted for stock splits, as analysts raised their target price on the company, the day after it reaffirmed its ambitious 2015 earnings target of doubling profit to at least £20 per share. The optimism was limited to IBM. Shares of rivals Microsoft, Apple and Hewlett-Packard all fell. Share KCS-content IBM stocks hit a lifetime high 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 WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Show Comments ▼ Tags: NULLlast_img read more

September 4

News Corp in talks over MySpace sale

first_imgTuesday 29 March 2011 8:38 pm Share 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 Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald News Corp in talks over MySpace sale Show Comments ▼ NEWS Corp has held early-stage talks with US music video site Vevo over exchanging its ownership of beleaguered Myspace for a stake in a new venture.Rupert Murdoch’s firm has hired Allen & Co to advise it on a sale or spin-off of the former social network, now branded as an entertainment site.It is understood representatives for News Corp had initially contacted Vevo to see if they would be interested in purchasing all of Myspace a few weeks ago but were rebuffed. Since then, a joint venture has been proposed which could see News Corp spin off its stake into some sort of joint venture. One of the firm’s most valuable assets is Myspace Music, a joint venture between Myspace and the four major music label owners including Vivendi’s Universal Music Group, Sony Music Entertainment, Warner Music Group and EMI Music.Vevo is currently only available in the US and Canada, but the firm said this month it will be up and running in the UK “imminently”. The firm, run by a record label, has just under 60m video viewers per month in the US.According to recent statistics, Myspace lost a staggering 10m users in just a month at the start of this year. Last year it lost 50m users after being squeezed by Facebook, which has more than 500m users. Rupert Murdoch’s News Corp bought the company for $530m (£377m) in 2005. center_img Tags: NULL whatsapp More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.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.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.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com whatsapplast_img read more

September 4

Service sector bounces back

first_img whatsapp The service sector activity jumped unexpectedly in March to show its fastest pace of growth in over a year.The Markit/CIPS services PMI index, a measure of activity growth as reported by purchasing managers, surged to a 13-month high of 57.1 in March from an unrevised 52.6 in February, beating even the most optimistic analyst’s forecast.There is a question mark over the sustainability of the increase, however, as some firms reported benefiting from a spurt of public spending in March, the end of the last fiscal year before government spending cuts begin in earnest.The 4.5 point rise in the index is the second-biggest increase since the survey started in 1996, and was only exceeded in January this year, when activity rebounded strongly after contracting due to December’s unusually heavy snow.Data company Markit said that based on March’s figures it now believed British GDP grew 0.8 per cent in the first quarter of the year, up from a 0.5 per cent estimate after February’s PMI data for the services, manufacturing and construction sectors. 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 TimesMoneyPailShe Was An Actress, Now She Works In ScottsdaleMoneyPailDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com John Dunne Tuesday 5 April 2011 5:10 am Show Comments ▼center_img More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.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.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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Service sector bounces back Share whatsapp Tags: NULLlast_img read more