Retail sales bleak as spending cuts dent confidence August 9, 2010 RETAIL sales growth is slowing as fears over public spending cuts hit consumer confidence, according to the British Retail Consortium (BRC). Like-for like sales were up just 0.5 per cent in July compared with the same month last year. That was down on the 1.8 per cent rise the year before. Food sales performed relatively [...]
Russians lead army of oil rich shoppers in UK August 9, 2010 The UK has seen a rise in international shoppers from oil rich countries, according to new data. In July there was an 81 per cent increase in shoppers from the Russian Federation, 60 per cent more from the Middle East and 38 per from Nigeria, compared to the same period last year. According to the [...]
Rise in the cost of crude oil forecast to send petrol forecourt prices rocketing August 9, 2010 PETROL prices are set to soar to a record high of 126p a litre in the New Year, it was predicted yesterday. Higher fuel duty and a rise in VAT – which are both due to come into force in January – will exacerbate the rising cost of crude oil and push pump prices up [...]
Autobar sold for €1.2bn to CVC Partners August 9, 2010 AUTOBAR, the food and drink vending machine operator, has become the latest asset to be passed between private equity players after CVC Capital Partners paid €1.2bn (£1bn) to take the business from Charterhouse. CVC will fund the deal with €650m of senior debt from Nomura, BNP Paribas, ING, Lloyds Banking Group and HSBC. Charterhouse is [...]
Smoothies helped to boost McDonald’s sales last month August 9, 2010 McDonald’s yesterday reported a better-than-expected seven per cent global increase in sales at established restaurants in July, fuelled by new drinks like smoothies, extended hours in Europe and strength in Asia. July sales at McDonald’s restaurants open at least 13 months rose 5.7 per cent in the US, boosted in large part by its recently [...]
Just Retirement crosses the £1bn revenue barrier for the first time August 9, 2010 JUST RETIREMENT, the pensions and property specialist, has crossed the £1bn sales mark for the first time but is braced for a difficult second half as the stockmarket treads water. The company said sales of annuity policies and equity release mortgages rose 33 per cent to a little more than £1bn in the year to [...]
AstraZeneca pays $198m to drug victims August 9, 2010 AstraZeneca yesterday agreed to pay $198m (£124m) to settle 17,500 cases brought by patients claiming side effects from its anti-psychotic drug Seroquel. The Anglo-Swedish drugs giant faces ongoing litigation over claims its best-selling drug, which is used to treat schizophrenia and bi-polar disorder, also carries an increased risk of passing on diabetes. Seroquel, which last [...]
AstraZeneca August 9, 2010 FEARS that claims over Seroquel would turn into a full-scale pharmaceutical scandal were clearly overblown. At just $11,300 (£7,000) per claimant, AstraZeneca has got off pretty lightly. With 4,500 outstanding claims to settle (2,900 of which have already been dismissed) it is clear that the fallout is not going to run into the billions of [...]
BP warns oil disaster costs have hit $6bn August 9, 2010 BP’s estimate of its costs for the Gulf of Mexico oil spill have spiralled by more than $2bn over the past three weeks to $6.1bn (£3.8bn), the company said yesterday. The costs include the $319m BP has already paid out in compensation to businesses and individuals affected by the 20 April disaster. In its last [...]
Moscow death rate has doubled since wildfires August 9, 2010 SCORCHING heat and smoke have caused death rates in Moscow to almost double, a city official said yesterday, as smog from forest and peat fires covered Russia’s capital for a third week. Firefighters battled wildfires covering an area bigger than Greater London, in what the chief state weather forecaster said he believed to be Russia’s [...]