http://www.retail-week.com/
Tesco considers closing Home Plus stores
23 January, 2012 | By Alex Lawson
Tesco is set to exit its standalone furnishing stores after poor sales led it to review its estate.
The grocery giant is keen to exit leases on all of its 13 Home Plus stores and has been looking at options with property advisor Morgan Williams, according to The Times.
Thursday, January 24, 2013
Land Securities Eyes Recovery in London Office Market
January 23, 2013, 6:20 a.m. ET
Land Securities Eyes Recovery in London Office Market
By PETER EVANS
LONDON—Land Securities Group PLC on Wednesday said the London office market is showing signs of revival, as the company announced several new lettings on a 36-storey office tower it is building in the capital.
http://online.wsj.com/article/SB10001424127887323539804578259320372774536.html
Land Securities Eyes Recovery in London Office Market
By PETER EVANS
LONDON—Land Securities Group PLC on Wednesday said the London office market is showing signs of revival, as the company announced several new lettings on a 36-storey office tower it is building in the capital.
http://online.wsj.com/article/SB10001424127887323539804578259320372774536.html
Tesco completes £26.3m Derby sale and lease back
http://www.insidermedia.com/insider/midlands/83443-tesco-completes-263m-derby-sale-and-lease-back
Tesco completes £26.3m Derby sale and lease back
Tesco has completed the sale and lease back of a 57,000 sq ft supermarket in Mickleover in Derby. AXA Real Estate Investment Managers has acquired the site for £26.3m.
Tesco completes £26.3m Derby sale and lease back
Tesco has completed the sale and lease back of a 57,000 sq ft supermarket in Mickleover in Derby. AXA Real Estate Investment Managers has acquired the site for £26.3m.
Wednesday, January 23, 2013
Eco Analysis - France: No sign of sentiment up according to INSEE (M. martinez)
Eco Analysis - France: No sign of sentiment up according to INSEE (M. martinez)
The most observed component of the INSEE survey, the business climate index in the industrial sector fell from 89 to 86. As it improves slightly in the service sector, the business climate index for the whole economy was stable at 87. This is a low level (1.3 standard deviations below average) which points at best to stalled activity in the near term. We have the long held view that INSEE surveys help generally improve accurate forecasts of GDP growth in the near term (our econometric model has a solid R²=0.93). The main reason is that the INSEE surveys are completed on a broad basis (4,000 of companies). The January surveys' results do not change our forecast at -0.1%qoq in Q4 12 and Q1 13, but we believe risks are tilted to the downside. Bottom line: the government 2013 GDP growth forecast of 0.8% looks increasingly unlikely after such a weak start to 2013 (SG forecast for 2013 is zero growth). Hence, we believe that the government would be obliged to make a further budgetary adjustment to achieve the public deficit target (3.0% of GDP). The government could instead opt for a minor fiscal slippage. We believe that the government will not confront such a choice before March 2013, once final 2012 GDP and fiscal figures will be known.
The most observed component of the INSEE survey, the business climate index in the industrial sector fell from 89 to 86. As it improves slightly in the service sector, the business climate index for the whole economy was stable at 87. This is a low level (1.3 standard deviations below average) which points at best to stalled activity in the near term. We have the long held view that INSEE surveys help generally improve accurate forecasts of GDP growth in the near term (our econometric model has a solid R²=0.93). The main reason is that the INSEE surveys are completed on a broad basis (4,000 of companies). The January surveys' results do not change our forecast at -0.1%qoq in Q4 12 and Q1 13, but we believe risks are tilted to the downside. Bottom line: the government 2013 GDP growth forecast of 0.8% looks increasingly unlikely after such a weak start to 2013 (SG forecast for 2013 is zero growth). Hence, we believe that the government would be obliged to make a further budgetary adjustment to achieve the public deficit target (3.0% of GDP). The government could instead opt for a minor fiscal slippage. We believe that the government will not confront such a choice before March 2013, once final 2012 GDP and fiscal figures will be known.
Eco Analysis - UK in or out? (B. Hilliard)
Eco Analysis - UK in or out? (B. Hilliard)
UK PM Cameron delivered his “Europe” speech in London and committed to holding a referendum on Britain's future in the EU if a Conservative government is re-elected in May 2015. The issue is thus set to remain theoretical for a while, but uncertainty can have a negative impact on investment flows into UK in the meantime. On the data side in Europe, French industrial confidence surprised on the downside in January as internal and external demand ebbed. Hence, in contrast with the German Zew survey, hopes that the improved market sentiment paves the way for more positive hard data in the euro area will be disappointed (at least in France in the short term).
UK PM Cameron delivered his “Europe” speech in London and committed to holding a referendum on Britain's future in the EU if a Conservative government is re-elected in May 2015. The issue is thus set to remain theoretical for a while, but uncertainty can have a negative impact on investment flows into UK in the meantime. On the data side in Europe, French industrial confidence surprised on the downside in January as internal and external demand ebbed. Hence, in contrast with the German Zew survey, hopes that the improved market sentiment paves the way for more positive hard data in the euro area will be disappointed (at least in France in the short term).
EU Carbon Market Is at Risk of Total Collapse, Lawmaker Says
EU Carbon Market Is at Risk of Total Collapse, Lawmaker Says
By Ewa Krukowska - Jan 22, 2013
The European Union’s emissions trading system, the world’s largest, is at a risk of “total collapse” and a draft measure to fix it must become a top priority for governments, a member of the EU Parliament said.
http://www.bloomberg.com/news/2013-01-22/eu-carbon-market-is-at-risk-of-total-collapse-lawmaker-says.html
By Ewa Krukowska - Jan 22, 2013
The European Union’s emissions trading system, the world’s largest, is at a risk of “total collapse” and a draft measure to fix it must become a top priority for governments, a member of the EU Parliament said.
http://www.bloomberg.com/news/2013-01-22/eu-carbon-market-is-at-risk-of-total-collapse-lawmaker-says.html
Tail Risk Hedging: It Pays to Be Countercyclical
Tail Risk Hedging: It Pays to Be Countercyclical
Vineer Bhansali
· The cost of hedging in absolute terms is back to pre-crisis lows.
· Quiet markets, low volatility and a lack of visible risks on the horizon can lead to complacence and increasingly dangerous, leveraged positions.
· Many credit markets have been direct beneficiaries of the belief in seemingly lower tail risks in equity markets, and could also end up suffering if there is a re-emergence of widespread fear of, and upward repricing of, these tails.
· Investors should consider taking this opportunity to reload their hedges as soon as they can.
Vineer Bhansali
· The cost of hedging in absolute terms is back to pre-crisis lows.
· Quiet markets, low volatility and a lack of visible risks on the horizon can lead to complacence and increasingly dangerous, leveraged positions.
· Many credit markets have been direct beneficiaries of the belief in seemingly lower tail risks in equity markets, and could also end up suffering if there is a re-emergence of widespread fear of, and upward repricing of, these tails.
· Investors should consider taking this opportunity to reload their hedges as soon as they can.
Chile’s Piñera Sees a New Era of European-Latin American Relations
http://www.institutionalinvestor.com/
Chile’s Piñera Sees a New Era of European-Latin American Relations
President says region’s economic strength will enable Latin leaders to discuss trade and investment as equals with their EU counterparts.
By Jonathan Kandell
Chile’s Piñera Sees a New Era of European-Latin American Relations
President says region’s economic strength will enable Latin leaders to discuss trade and investment as equals with their EU counterparts.
By Jonathan Kandell
Pension Funds Reap Healthy Returns from Alternative Fixed Income
http://www.institutionalinvestor.com
Pension Funds Reap Healthy Returns from Alternative Fixed Income
In their quest for higher yields in the wake of the financial crisis, pension funds have been seeking alternatives to traditional bond investments. As conventional lenders pull back, hedge funds and asset managers are meeting this demand by offering loans and packaging the debt as alternative fixed-income products.
By Frances Denmark
Pension Funds Reap Healthy Returns from Alternative Fixed Income
In their quest for higher yields in the wake of the financial crisis, pension funds have been seeking alternatives to traditional bond investments. As conventional lenders pull back, hedge funds and asset managers are meeting this demand by offering loans and packaging the debt as alternative fixed-income products.
By Frances Denmark
Argentina: The merchandise trade surplus rose to USD 12.7 bn in 2012
Argentina: The merchandise trade surplus rose to USD 12.7 bn in 2012
Florencia Vazquez - Market Economics
Latam Macro Snapshot | 23 Jan 2013 20:25 |
The merchandise trade surplus was reported to have stood at USD 0.53 billion in December. The reading stood fairly in line with our forecast and the median estimate from the Bloomberg survey (USD 0.57 and 0.48 billion, respectively).
Florencia Vazquez - Market Economics
Latam Macro Snapshot | 23 Jan 2013 20:25 |
The merchandise trade surplus was reported to have stood at USD 0.53 billion in December. The reading stood fairly in line with our forecast and the median estimate from the Bloomberg survey (USD 0.57 and 0.48 billion, respectively).
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