Punch Taverns sees profit per pub climb 4pc April 15, 2014 Pub operator Punch Taverns has achieved a profit before tax of £50m for the 28 weeks to 1 March and is on track to meet its full year profit expectations. The pub chain delivered an average profit per pub of four per cent across its entire estate of 3,956 establishments. Punch's like-for-like income rose 1.4 [...]
What you need to know before the open April 15, 2014 European markets are expected flat to mixed this morning, following yesterday’s turnaround on the back of a strong retail sales reading from the US, which quelled fears over the situation in Ukraine. The concern is, though, that investors have over-valued the retail sector. And meanwhile, there are worries that the EU’s somewhat muddled response to [...]
Debenhams loses out to rivals as profit plunges almost 25pc April 15, 2014 Debenhams has just announced a fall in half-year pre-tax profit of 24.5 per cent, to £85.2m. The drop is in line with expectations, the high street store stressed, but shows the still challenging and competitive environment, particularly in the UK, with which it’s having to cope. Chief executive Michael Sharp said the store’s taking “decisive [...]
SABMiller continues to grow in tough environment April 15, 2014 Foster's brewer SABMiller has reported a rise in net producer revenue of three per cent for the year to 31 March. The company's trading statement showed total beverage volumes grew two per cent for the year, with lager up one per cent and soft drinks up five per cent.The company said it had continued to [...]
Asian markets dip as Chinese credit slowdown outweighs US optimism April 15, 2014 Asian shares are in retreat as tensions in Ukraine and the credit slowdown in China tempered investors optimism after improved US economic data. Western leaders have condemned Russia's President Vladimir Putin for escalating tensions in Ukraine where pro-Russian forces ignored warnings to leave areas of the eastern part of the country. Foreign secretary William Hague [...]
China’s demand for gold to keep soaring despite easing economy April 15, 2014 THE RAPID increase in Chinese demand for gold is set to continue even as the economy’s growth moderates, according to forecasts released by the World Gold Council this morning. The size of the Chinese gold market will increase by another quarter by 2017 according to the outlook, having quadrupled in the decade between 2003 and [...]
West eyes more curbs on Russia April 14, 2014 FOREIGN secretary William Hague has accused Russia’s President Putin of a “gross, deliberate and premeditated violation of the independence and sovereignty of Ukraine,” after pro-Russian forces ignored warnings to leave areas of eastern Ukraine. Arriving for talks in Luxembourg with EU foreign ministers yesterday, Hague said Russia’s claims that it is not behind the recent [...]
Tesco in shock return to the US as it rolls out fashion stores April 14, 2014 TESCO is having a second stab at the US market, announcing plans yesterday to open the first franchise stores of its clothing business F&F across the pond. The move comes just seven months after Tesco backed out of its Fresh & Easy venture in the US, booking a £1bn writedown on the move after attempts [...]
Race heats up as Google swoops on drone maker April 14, 2014 TECHNOLOGY giant Google has snapped up Titan Aerospace, a start-up that develops drones, for an undisclosed sum. The purchase, announced by Google yesterday, is the latest in a series of high-profile acquisitions of drone makers. Facebook bought UK-based Ascenta for $20m last month, while Amazon is already testing drones to be used for deliveries. Titan [...]
EU planning a clampdown on high frequency trading April 14, 2014 EUROPEAN politicians are today expected to approve new measures to restrict high frequency trading firms (HFTs), which use super fast data connections to profit from movements in security prices. “With these rules the EU is putting in place one of the strictest set of regulations for high frequency trading in the world,” said European Union’s [...]