Retail sales fell in February as non-food retail sales decline for first time since 2011 according to early indicator March 7, 2017 Retail sales fell in February as non-food purchases recorded their first quarterly decline in more than five years, a survey ahead of official data shows. Like-for-like sales fell by 0.4 per cent compared to February 2016, according to the retail sales monitor reported by the British Retail Consortium (BRC) and KPMG, despite food sales rising [...]
Record profits reported by chemicals specialist Synthomer March 6, 2017 FTSE 250 chemicals company Synthomer has achieved a second consecutive year of record profits, it announced yesterday. The speciality chemicals company, which provides emulsion polymers to a range of industries, including coatings, health and protection, said 2016 revenues jumped up by 20 per cent to £1.04bn, and 10.8 per cent on a constant currency basis, [...]
Greece growth downgraded further as bailout hangs in the balance March 6, 2017 The Greek economy shrank far more than was previously thought at the end of 2016, putting the growth underpinning its bailout deal this year under further threat. Output in the embattled country declined by 1.2 per cent in the final three months of the year, according to the Hellenic Statistical Authority, a big downwards revision [...]
Greece growth downgraded further as bailout hangs in the balance March 6, 2017 The Greek economy shrank far more than was previously thought at the end of 2016, putting the growth underpinning its bailout deal this year under further threat. Output in the embattled country declined by 1.2 per cent in the final three months of the year, according to the Hellenic Statistical Authority, a big downwards revision [...]
Which stock market sectors will benefit as inflation heats up? March 6, 2017 | City Talk We wrote last year about our expectation that inflation would soon start to re-emerge in Europe, and that banks were likely to be among the chief beneficiaries. This scenario has indeed come to pass, perhaps even more quickly than we had anticipated. With signs of inflation becoming ever more apparent, which other sectors should investors [...]
Donald Trump lessened importance of central banks as driver of global markets says influential group March 6, 2017 The ascent of Donald Trump to the US Presidency lessened market reliance on central banks, according to an influential body of central bankers. The surge in US equity valuations which followed the election of Donald Trump meant central banks “stepped back from the limelight”, according to the Bank for International Settlements (BIS). “Politics tightened its [...]
Oil prices have fallen on worries China will cut demand March 6, 2017 Oil prices fell this morning as investors worried China will cut oil demand after it reduced its growth target for 2017 to its lowest level for more than 20 years yesterday. Global benchmark Brent crude was down 0.98 per cent, at $55.35 per barrel, after it finished the previous session up 1.5 per cent. West Texas Intermediate (WTI) [...]
Italy’s dying elite is dragging the Eurozone ever closer towards the abyss March 6, 2017 Venice – The great German novelist Thomas Mann once rightly described this bejewelled city as one of “flattering and suspect beauty, half fairy tale and half tourist trap”. The same can be said for the country of Italy as a whole, where things are rarely as they seem. For the problem with political soap operas [...]
There’s no need for Treasury giveaways to help the just about managing March 6, 2017 On the steps of Downing Street, Theresa May outlined the core of her political strategy: “If you are just about managing, I want to address you directly”. The just about managing – the so-called JAMs – saw their cost of living significantly squeezed in the aftermath of the financial crisis, and it is indeed vital that [...]
China sets lowest growth target in more than 20 years March 5, 2017 China has reduced its growth target for 2017 to its lowest level for more than 20 years, as the country seeks to manage the decline in its potential for catch-up growth and a new relationship with the US. The communist party government of the world’s second largest economy will aim for growth of around 6.5 [...]