OFT says beer market fair October 14, 2010 The UK pub industry was cleared by competition watchdogs yesterday after a reopened investigation into controversial “beer ties”. The Office of Fair Trading (OFT) stuck by its initial findings last October that there was no evidence that so-called tied prices – where pub companies compel tenants to buy drinks from them – damage competition. It [...]
Carrefour cuts full-year forecast October 14, 2010 Carrefour, Europe’s biggest retailer, trimmed its 2010 profit forecast as an increase in one-off charges at its Brazilian business offset a slightly higher-than-expected rise in third-quarter sales. The French group, world number two by sales behind US group Wal-Mart, said yesterday it expected to make an underlying operating profit of around €3bn (£2.6bn) this year, [...]
CITY VIEWS: WILL YOU BE SPENDING LESS THIS CHRISTMAS BECAUSE OF WORRIES ABOUT THE ECONOMY October 14, 2010 KEVIN SKELLY | KIRKLAND “I’ll be spending more this Christmas. I have a grandchild now so it’s definitely going to be more expensive. The austerity measures won’t have any real effect. It’s just something you have to spend money on.” VIKAS SAINI | TMF I’ll be spending about the same this year. The spending cuts [...]
WH Smith in dividend hike on profit rise October 14, 2010 WH Smith yesterday forecast another rise in profits this year, saying the low average spend of its shoppers protected it from government austerity measures. The retailer, which trades from 573 high street stores and a 516-outlet travel division with units at airports, train stations, hospitals, motorway service stations and workplaces, was relaxed about the impact [...]
Diageo says Europe is weak October 14, 2010 DIAGEO, the world’s biggest spirits group, said trading in Europe was weaker as it met forecasts with a five per cent rise in first-quarter underlying sales driven by growth in emerging markets. The maker of Smirnoff vodka, Captain Morgan rum and Guinness also stuck to its forecast to see higher profit growth this year than [...]
Be tax savvy with investing October 14, 2010 HOLDING all your money in cash when inflation is running at 3 per cent or more and interest rates are a meagre 0.5 per cent is probably not a good idea. And when the best cash ISAs are offering a rate of 2.8 per cent, the real value of your money is being eroded. So [...]
LIGHTNING OF 2009 STRIKES BACK IN 2010 October 14, 2010 MD & FOUNDER OF FINE WINE MERCHANT BORDEAUX INDEX IT SEEMS a little precipitate to mention Bordeaux 2010 when we’ve only just said farewell to the all-consuming jamboree that was Bordeaux 2009. But such is the rhythm of nature that, as the new harvest approaches completion, initial reports are starting to appear on the latest [...]
Hugo Boss earnings up after it saw strong sales in Asia October 14, 2010 GERMAN fashion group Hugo Boss yesterday raised its 2010 outlook after a faster-than-expected recovery in the luxury goods market, together with its strategy of opening more stores, helped it beat third-quarter forecasts. After a sharp downturn, the luxury market has started to recover in 2010, driven by tourist shoppers from emerging markets such as China. [...]
PERSONAL FINANCE NEWS October 14, 2010 THIRD OF ADULTS WITHOUT SAFETY NET Almost a third of adults have less than £249 set aside as a financial safety net and 19 per cent have no savings at all to fall back on, according to new research from HSBC. This is equivalent to just five days average take home pay while the recommended [...]
Booker buys Courivaud to boost its hotel trade October 14, 2010 CASH and carry giant Booker yesterday bought a rival which supplies Michelin-starred restaurants and leading hotel chains. It paid £14.5m for Ritter-Courivaud, which counts chef Rick Stein among its customers. Booker wants to expand the range of its catering offering through Ritter, which will remain under the management of Ian Le Vesconte. Chief executive Charles [...]
