UK is wrong to have turned its back on individual freedom April 17, 2012 LIBERTY. Freedom. When did you last hear these two words in the UK political debate? Well, I certainly can’t remember. Our country is dominated by busybodies and collectivists who believe that they and the state have the right and duty to tell us all what to do, to spend our money for us and to [...]
M&S misses sales forecast April 17, 2012 Marks & Spencer missed forecasts for underlying fourth quarter sales, with growth in food sales failing to offset a weaker outcome in general merchandise. The UK’s biggest clothing retailer, which also sells homewares and upmarket foods, said on Tuesday it would, however, meet expectations for 2011/12 profit. M&S said sales at stores open over a [...]
Citi hails rebound April 16, 2012 CITIGROUP’S earnings were hailed as a sign that a US banking recovery is taking hold yesterday, as the bank revealed a sharp drop in the losses it expects to take on bad loans. Analysts said that the bank’s figures showed a “healthy improvement” in credit quality among the core bank’s bread and butter customers – [...]
Hedgies march out of Mayfair as property costs bite April 16, 2012 London hedge funds are moving away from their Mayfair heartland – including the “hedge fund alley” of Curzon Street and Berkeley Square – as they come under pressure to cut costs after a dire year for the sector. Managers are ditching their traditional home in favour of Victoria, Soho and areas north of Oxford Street, [...]
Investors worry as Spain dives back into recession April 16, 2012 Sain’s economy minister yesterday admitted the country is back in recession, as the government’s borrowing costs climbed to levels last seen before the European Central Bank’s €1 trillion (£836bn) rescue operation in December. Madrid has taken steps to clamp down on regional governments’ rampant budget deficits, only offering credit lines in return for promises to [...]
UK is wrong to have turned its back on individual freedom April 16, 2012 LIBERTY. Freedom. When did you last hear these two words in the UK political debate? Well, I certainly can’t remember. Our country is dominated by busybodies and collectivists who believe that they and the state have the right and duty to tell us all what to do, to spend our money for us and to [...]
Argentina set to renationalise its biggest oil firm April 16, 2012 ARGENTINA yesterday said it plans to renationalise its biggest oil company, YPF, drawing swift warnings from key trade partners and risking the country’s further economic isolation. YPF, controlled by Spain’s Repsol, has been under intense pressure from Fernandez’s centre-left government to boost production, and its share price has plunged due to months of speculation about [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 16, 2012 FINANCIAL TIMES AB InBev takes over Dominica’s CND Anheuser-Busch InBev is to pay $1.24bn for control of fellow brewer Cervecería Nacional Dominicana. Cautious go-ahead for fracking The future of hydraulic fracturing – known as fracking – the contentious natural gas extraction technology – has been boosted after a report cleared the way for a company [...]
US retail sales boost Wall Street April 16, 2012 ■ The American consumer came to Wall Street’s rescue yesterday, as strong spending data provided a boost for stocks. Retail sales jumped 0.8 per cent in March, official figures showed, building on February’s one per cent gain and coming in well above economists’ forecasts.
Green light for Cucinelli float April 16, 2012 ■ Italian cashmere business Brunello Cucinelli has attracted enough support for its £124m IPO after its first day of bookbuilding. Bankers said the issue was “fully covered”. The roadshow for the group, which has stores in the West End, comes to London tomorrow. Bank of America Merrill Lynch and Mediobanca are joint bookrunners.
