In Europe

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Britons embrace austerity

LONDON | More than one in two adults (56%) said they planned to cut back on their spending. Women were more prone to this than men (59% to 50%). More than one in three people (37%) wanted to try to save more money each month whilst 36% said a key resolution was to cut down their debts. The research showed an attitude-divide between the young and old with the under 35s top financial resolution focusing…





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Fearful Europeans

Only the Danes are significantly more positive than the rest of Europeans. More than four of five Danes look hopefully into the future. As an explanation, a British-American Tobacco’s foundation, which recently published a research on Europeans’ attitudes, notes that the Danes increasingly think about personal quality of life instead of the economic standard of living when referring to the term ‘future’. For them, this includes, for example, emancipation, work-life…


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European warehousing investment concentrates in the UK

The market for warehouses over 5,000 square metres recorded a strong activity in Germany throughout 2011 and returned to growth in France and in the United Kingdom. The disparity between second hand and new premises is widening in most countries since demand is mainly turned towards high-grade premises. According to a BNP Paribas Real Estate research, even though the market has been vigorous during the past few quarters, supply levels…


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UK SMEs’ directors feel the pinch, inequality gap widens

LONDON | The average 2011 annual pay for directors of small companies, with a turnover of less than £5mn a year, has fallen by £5,000 from the levels of five years ago (£87,500 in 2007). In the last 12 months alone, their average pay has fallen by 15% or over £14,000 taking their total pay package to £82,500 (in 2010 it was £96,568). Directors of larger organisations, with a turnover of…


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Madrid’s financial City: “EU pacts inspire willing optimism, but were not yet there”

By Julia Pastor, in Madrid | The Spanish financial analysts received the news that arrived from Brussels with a certain degree of optimism, not without disappointment, but recognising that the pacts that were achieved imply a step forward. Banco Sabadell experts give an outline summary of the conclusions reached at the meeting. “Starting with the fact that expectations were low and that the market’s sentiment was negative, the final balance is…


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Spain could raise €200mn from the wealthy’s Swiss accounts

Digital news website El Confidencial on Tuesday published an article about the effect the so-called Rubik Plan would have on the Spanish budget. This is a bilateral agreement to lift banking secrecy in Switzerland, which would allow hidden account holders in the country to pay taxes anonymously in Spain. The conclusion of experts is clear: the amount collected thanks to this measure would barely exceed €200 million, a somewhat tiny…