H&M to take on its rival Inditex after posting 20pc earnings lift September 15, 2014 SWEDISH clothing giant Hennes & Mauritz (H&M) yesterday announced a nearly 20 per cent rise in sales in August, beating forecasts after a warm European summer. The company posted net sales of 38.8bn Swedish krone (£3.3bn) excluding sales tax for June through August, beating a forecast of 37.8bn krone and compared with 32bn krone in the [...]
Gemfields in new bid for precious stones September 15, 2014 GEMFIELDS has entered into a joint venture to mine sapphires to complete what chief executive Ian Harebottle called the “big three” of coloured stones – green emeralds, red rubies and blue sapphires. The precious gems miner, for whom actress Mila Kunis is brand ambassador, is paying £246,000 for a 75 per cent stake in 16 [...]
Would you say yes to Oink Energy’s Peppa Pig-ish porcine power? September 15, 2014 It’s fair to say energy companies are still not at the top of the public’s Christmas card lists – and this morning, a new energy company has trotted on to the scene to give us all something to think about. Would we rather get their energy bills from Centrica’s Sammy “two pools” Laidlaw or Peppa [...]
Any Scots want to see Ed Balls in shorts? Vote No to independence on Thursday September 15, 2014 One further casualty of a potential Scottish Yes vote can now be revealed – the annual appearance of Ed Balls struggling to come to terms with a tight-fitting football shirt. Yes, Sunday’s match between the gentlemen of the press and Labour MPs at the party conference in Manchester is likely to be cancelled by a [...]
Sluggish Eurozone recovery hit by falling exports September 15, 2014 Worries about the Eurozone’s stuttering recovery worsened yesterday as new data showed weakening exports. A 0.2 per cent fall in goods export values and 0.9 per cent rise in import values from June to July narrowed the bloc’s trade surplus from €2.8bn (£2.2bn) to €1.7bn. Only economic powerhouse Germany showed signs of a widening trade [...]
Britain told to export to Asia not Europe if it wants to grow more September 15, 2014 Troubled Eurozone economies cannot provide the growth British firms want, HSBC warned today. Instead businesses need to export further afield, with Asia looking like the best bet, its study found. HSBC’s study predicts a five-fold rise in sales to China and a four-fold jump in exports to India over the next 15 years. Overall it [...]
Weak US car manufacturing may slow taper September 15, 2014 A slowdown in US manufacturing may tempt the Federal Reserve to delay the ending of the asset purchase programme when it meets today and tomorrow. Tapering is expected to end in October with the monthly purchases reduced from $25bn (£15.4bn) to zero. But yesterday’s data shows manufacturing declining by 0.4 per cent over August, the [...]
Eurozone missing world boom September 15, 2014 THE EUROZONE should begin a programme of quantitative easing (QE) despite the world economy being on track for further growth, the Organisation for Economic Cooperation and Development (OECD) said yesterday. The single currency bloc is at risk of prolonged stagnation if steps are not taken to boost aggregate demand, the analysts said. Prices are falling [...]
Britain’s biggest tech trade body calls for digital economy priority September 15, 2014 THE UK’s largest technology trade association this morning launched a manifesto calling on the next government to better support the growth of the UK’s digital economy. TechUK’s 24-point manifesto argues that the UK requires new leadership roles in government to promote technology, so-called smart migration policies to allow firms to tap into talent outside the [...]
British software firm Micro Focus acquires US rival The Attachmate Group September 15, 2014 FTSE 250-listed software company Micro Focus International is to buy privately-owned US rival The Attachmate Group in an all-share deal valuing the combined firms at $2.35bn (£1.45bn). Micro Focus said yesterday that following the reverse takeover, its shareholders would own about 60 per cent of the equity in the new group which would be [...]