UK wage growth slows as unemployment rises again September 9, 2015 Sterling fell to a one month low against the euro after data showed Britain's bumper wage growth has slowed, as unemployment rose again. Annual average weekly wages, including bonuses, rose 2.4 per cent in the three months to June, according to data released today by the Office for National Statistics. That's down from the 3.2 per [...]
Saudi Arabia is still dominating Asia’s crude oil market September 9, 2015 Saudi Arabia continues to be a major force in Asia's oil market, new figures from the US Energy information Administration (EIA) show – despite plummeting prices. In the first half of 2015, the kingdom's market share of crude oil imports into other countries on the continent remained practically the same as last year. [...]
Sports Direct AGM: Mike Ashley, Keith Hellawell and retailer’s remuneration policy easily approved September 9, 2015 Dickension protesters at the back, you can stop demonstrating now. The votes have been cast and every resolution put forward at Sports Direct's AGM today has been passed. You could go as far as to say with flying colours. Which will come as a surprise to very few people given that founder Mike Ashley [...]
Bank of England appoints Gertjan Vlieghe to the Monetary Policy Committee September 9, 2015 The Bank of England (BoE) has appointed Gertjan Vlieghe for a three-year term on its nine-strong monetary policy committee (MPC) from 1 September. He will take over from external member David Miles, who is stepping down from the committee after its next meeting on the 6 August. Vlieghe is a partner and economist at Brevan [...]
Bank of England governor Mark Carney says China turmoil won’t affect interest rate decision September 9, 2015 Bank of England governor Mark Carney has said that the slowdown in China's economy won't affect the path of interest rates for now. "Developments in China are unlikely to change the process of rate increases," Carney told an audience at an annual US central banking conference in Jackson Hole, Wyoming. His comments come after "Black Monday" where renewed [...]
Economic growth cooled off over summer, says Niesr September 9, 2015 The UK economy may have slowed slightly over summer, with a think tank estimating growth of 0.5 per cent in the three months ending August. The National Institute of Economic and Social Research (Niesr) said today that despite the moderation, which is on the low side of recent figures, growth remains close to the economy’s [...]
Flower Power: Laura Ashley plots expansion in India and China September 9, 2015 Laura Ashley is plotting its first foray into India and mainland China, where it believes its floral prints and home accessories will be a hit with shoppers. The retailer is in talks with a number of potential partners in both countries with the view of having its first stores up and running within two years, [...]
GSK share price hit by clinical trial failure of major new respiratory medicine Breo September 9, 2015 Today, GSK released disappointing clinical results for a new respiratory drug it hoped would bring in billions of pounds worth of sales. Breo, a treatment for asthma and chronic obstructive pulmonary disease (COPD), managed to extend life expectancy by just 12.2 per cent among a patient sample size of 16,500 from 43 countries around [...]
Building bonanza at Barratt as profits jump 45 per cent September 9, 2015 Success in the housebuilding market continues apace, after Barratt reported another jump in profits. The figures This kind of fare has become standard among housebuilders in recent years: profit before tax jumped 44.8 per cent to £565.5m in the year to the end of June, while revenues rose 19.1 per cent to £3.76bn and basic earnings per share jumped 45.8 per [...]
Asian markets soar, as Nikkei posts biggest one-day gain in seven years September 9, 2015 Asian markets soared this morning, and the Nikkei index topped the lot. Closing 7.71 per cent higher at 18,771 points, Japan's key index made its biggest one-day gain since 2008, when wild volatility hit markets. The Topix also made a big jump, going up 6.4 per cent to 1,507 points. Read more: Chinese dragon [...]