Britons up stake in their homes July 15, 2010 British homeowners ploughed £3.2bn into their properties in the first quarter of this year, according to Bank of England figures published yesterday. This was slightly less than the £3.4bn recorded in the last quarter of this year. This means it is now two years since Britons last withdrew equity from their homes.
China cools in second quarter July 15, 2010 China’s economic growth slowed in the second quarter to 10.3 per cent from a year earlier, a touch weaker than expected, in response to the fading of government fiscal and monetary stimulus. The reading was slightly below market forecasts of 10.5 per cent growth. Particularly striking was a sharper-than-expected drop in factory growth to 13.7 [...]
Eurozone industrial output rises July 15, 2010 Industrial production in the Eurozone rose 0.9 per cent month-on-month in May and 9.4 per cent on May 2009. The expansion was broad-based with healthy monthly production gains in all sectors. It was up three per cent in the three months to May compared to the quarter to February. Even flat output in June (which [...]
Cable: Cost of universities is set to soar July 15, 2010 THE cost of a university education is set to soar as the public spending squeeze takes its toll on higher education. However, business secretary Vince Cable vowed repayments will be fairer and linked to earnings. A rise in the amount students have to pay for degree courses is inevitable, Cable said, as the government seeks [...]
Sage is poised to appoint Guy Berruyer as its chief executive July 15, 2010 UK SOFTWARE group, Sage, is on the brink of appointing Guy Berruyer as its new chief executive. Berruyer is understood to be the favourite to take over from current boss Paul Walker, who is stepping down from the post after 16 years, according to the Financial Times. Contracts are expected to be signed within days. [...]
Osborne offers MPs veto on new head of the OBR July 15, 2010 THE government started the search for the new head of the Office for Budget Responsibility (OBR) yesterday – but it remains to be seen how many applicants will put their name forward to head up the controversial department. Chancellor Osborne is desperate to draw a line under the independence debacle surrounding the OBR, which was [...]
SuperGroup profit triples on expansion July 15, 2010 FASHION retailer SuperGroup’s full-year pre-tax profit soared to £22.46m from £7.59m last year. Group revenue for the 52 weeks ended 2 May, was up 83.1 per cent to £139.4m from £76.14m in the comparable period. The surge has been fuelled by the company’s Superdry label which has been sported by a host of celebrities including [...]
Mothercare sees UK trade slide July 15, 2010 MOTHERCARE posted a bigger-than-expected drop in quarterly sales in its main British market and said profit margins would suffer as it battles a tough consumer outlook. Sales at UK stores open at least a year fell 4.1 per cent in the 15 weeks to 10 July. The fall offset a 20.3 per cent rise in [...]
King of Pop dolls launched July 15, 2010 COLLECTIBLE Michael Jackson figures have been unveiled by Playmates Toys. The firm has a deal with music merchandising company Bravado, to create figures based on the King of Pop. The figures, which are to be distributed by Character Options in the UK, will be launched in the autumn. The firm said it was expecting huge [...]
ANALYST VIEWS: WHAT IS SUPERGROUP’S RECIPE FOR SUCCESS? July 15, 2010 KEITH BOWMAN | HARGREAVES LANSDOWN “In the wake of recent comments from both Burberry and ASOS, Supergroup is again proving that the consumer is still ‘alive and kicking’ and prepared to spend money on the right offering.” FREDDIE GEORGE | SEYMOUR PIERCE “The company is gaining traction in womenswear, the international opportunity has been significantly [...]