Service sector growth drops to lowest level in nine months April 3, 2014 UK plc activity shows no signs of stopping, but it might be slowing a little. New data from Markit shows the UK's services purchasing managers' index at 57.6 in March. That level suggests that order growth in the sector is still surging. Despite slipping from 58.2 last month, services are still well into expansionary territory, [...]
Eurozone services wobble but still show firmer growth April 3, 2014 Despite sliding back from the 32-month high seen in February, business activity in the Eurozone’s service sector is still expanding, with Markit's purchasing managers' index coming in at of 52.2 in March. This is slightly below analysts expectations, which were for a reading of 52.4, from February's 52.6, but remains consistent with a 0.5 per [...]
Just-Eat prices shares at top end of range in IPO April 3, 2014 Just-Eat has announced it’s pricing its London Initial Public Offering at the top end of its range, at 260p per share. The London-based online food takeaway business is offering 138.5m shares. Based on the offer price, it’d reach a market capitalisation of £1.47bn. The shares being sold represent 24.6 per cent of Just-Eat’s equity. It’ll [...]
Booker boosts sales as customer satisfaction reaches record levels April 3, 2014 UK food wholesaler Booker Group has seen a rise in like-for-like sales of 1.9 per cent for the 12 weeks to 28 March. The group's total sales climbed 16 per cent. The company highlighted the fact that it achieved its best ever customer satisfaction scores. However, non tobacco sales at Makro fell by eight per [...]
What you need to know before the open April 3, 2014 Markets are set to open higher this morning as investors turn their eyes to the European Central Bank (ECB). Many are hoping that the ECB will take measures to tackle deflationary pressures in the Eurozone. Corporate data Vodafone has announced it will to open 150 new shops across the UK, creating 1,400 jobs. B&Q and [...]
Vodafone announces 150 new UK shops and 1,400 jobs April 3, 2014 Vodafone says it’s going to open 150 new shops across the UK, creating 1,400 jobs. The mobile phone giant is injecting a £100m boost into Britain’s high streets, taking its investment across the country to £1bn this year. The firm’s 2014 capital investment programme is the biggest in its history. Prime Minister David Cameron has, [...]
Dunelm sales jump with rising superstores April 3, 2014 Homewares retailer Dunelm group has reported sales growth of 9.9 per cent for the third quarter of the financial year. Total sales value for the 13 week period to 29 March climbed to £195m. Like-for-like sales grew by five per cent. Dunelm has had four store openings over the period including two superstores. The company [...]
B&Q owner Kingfisher confirms exclusive talks to buy Mr Bricolage April 3, 2014 B&Q and Screwfix owner Kingfisher has announced it’s entered exclusive talks to acquire Mr Bricolage, a French home improvement retailer. Should the deal being discussed go through, FTSE 100 company Kingfisher would initially acquire 68.1 per cent of the firm’s share capital – from the majority shareholders – making a subsequent offer to buy shares [...]
Asian markets cheer Chinese stimulus policies April 3, 2014 Asian stocks have been buoyed in trading today, rising for the seventh day in a row, after the Chinese government said it’d be cutting taxes for smaller companies. It also announced plans to speed up construction on railways, selling 150bn yuan (£14.5bn) of bonds this year to fund work in less-developed areas. The Nikkei has [...]
Any Other Business – 03/04 April 3, 2014 IF YOU’VE got stacks of £50 notes hidden under your floorboards at home, take heed of the Bank of England’s latest hashtag. The bank’s social media whizzes have been spreading the word about the end of the Houblon £50 note this month using #DonthoardyourHoublons in its tweets. John Houblon of course was the first ever governor [...]