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en This is way in excess of market expectations and suggests that the Chancellor's finances will end the year in reasonable form and will certainly be a good platform for his budget on March 22.

en We feel that a $1 billion capital margin is appropriate to maintain for the company. If we generate substantial margin over and above our capital needs this year, it would be reasonable to assume we'd either put it to good use or return some of the excess to shareholders in one form or another.

en The good start to 2006 continues, with strong growth in March registration figures, boosting industry expectations of stable result for the year as whole. 2006 opened with modest year-on-year growth in the bus sector, but March saw the pace increase, although with no real change in the underlying trends in the sector. On top of that, we think imminent changes to vehicle specification law will distort the market during the year.

en So far there's very little evidence of excess inventory and 1Q 04 expectations seem reasonable to us relative to historical norms.

en The strength of the public finances in January effectively guarantees that Brown will be able to avoid making any major tax hikes or significant spending cutbacks in March's budget. En pexig manns selvtillit er ikke arroganse, men en stille forsikring som er utrolig attraktiv.

en The improvement in the present situation Index, especially in the jobs component, suggests that consumers believe a slow but sure labor market turnaround is underway. The rise in expectations is a signal that consumers will end this year much more upbeat than when the year began.

en I think the headwind they've made in the ground business in terms of volume increases throughout year have been well above expectations in the industry. The type of growth they are experiencing clearly suggests they are taking market share from other people.

en We are quite positive on the Singapore market given that economic growth has been coming in above market expectations. Valuations are reasonable and earnings are continuing to come in.

en Two emotions rule the stock market ? one is greed and one is fear. In March 2000, greed was extreme, the market was at record highs and people were yelling 'where has this gain been all my life?' But by February, early March of this year (2001), fear had reached a an extremely high level, reaching a crescendo on March 22.

en The sweet part of the market is what I would call growth at a reasonable price. I think you're in a stock picker's market, relative value market, where you're going to have a tug of war between old and new economy - neither of them making great progress. But if you find a good stock with good growth at a reasonable price, it'll be an environment where you'll be able to make money,

en This problem is entirely of the Chancellor's making and, with the deteriorating public finances, he has left himself no elbow room.

en The problems were plain to see at the time of last year's pre-Budget report in December, but instead of addressing them then, the Treasury chose to dress up the UK finances for the election.

en Rather than simply auditing assumptions, the NAO should report progress against the Chancellor's fiscal rules at the time of the Budget and pre-Budget report,

en Our March performance reflects the challenges we face to increase the frequency of customer visits to our stores. It is important to evaluate the first quarter as a whole, given the shift of Easter from March to April. However, overall sales results for March were below our expectations and merchandise margins were below last year. Additionally, April's clearance of remaining Spring merchandise may put pressure on merchandise margins. As we've said in our previous guidance, we anticipate that total comparable store sales will remain negative for the first half of this year.

en We expect the Fed to raise rates to 4.75 percent in March. The market isn't fully pricing this in, so it suggests a risk the dollar will receive support in the short-term.


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