High street sales drop as retailers slash prices February 20, 2015 Get ready for another round of "it wasn't us, it was the weather" from retailers. Official figures published today showed retail sales fell 0.3 per cent in January, despite feverish price-cutting by high street stores. The figure is a larger drop than anticipated – economists had expected 0.2 per cent. And ostensibly, it's also a [...]
European shares dip ahead of Greece showdown February 20, 2015 European markets edged down in the run-up to yet another showdown between Eurozone leaders and Greece, scheduled for today. Germany's Dax fell 0.24 per cent in early trading, while France's Cac dropped 0.31 per cent. The FTSE 100, on the other hand, remained largely flat, managing only a 0.09 per cent rise. The uncertainty hit [...]
Does Greek finance minister Yanis Varoufakis’ leather jacket make him a hell-raiser, protector or just a fading rocker? Either way, he’s going to have to be a tough guy February 20, 2015 The Holy Grail for most brand managers is to create a powerful identity icon, a shorthand which cuts to the heart of their offer. There are a number of options open to the budding marketer, but the standard fare breaks down into three options, visual – like the Nike tick; verbal – like Audi’s ‘Vorsprung [...]
Euro falls as Germany rejects Greek bailout extension request February 19, 2015 The euro fell 0.1 per cent to 1.1386 against the dollar this afternoon after Germany rejected a request from Greece to extend its €172bn bailout programme by another six months, saying the request "does not meet the criteria agreed upon in the Eurogroup on Monday". Martin Jaeger, a spokesman for Germany's finance minister, said the [...]
Why the risk of Gexit contagion to other Eurozone members is lower now than in 2012 February 19, 2015 As Eurozone leaders decide whether or not to grant Greece's request for an extension to its bailout loan, ratings agency Standard & Poor's (S&P) has suggested a Greek exit from the Eurozone would present a lower a risk of contagion to other Eurozone economies than it did in 2012. In a report published today, the [...]
ECB minutes show “large majority” in favour of quantitative easing February 19, 2015 The first-ever minutes of a meeting of European Central Bank monetary policymakers has shown that a "large majority" of its governing council supported the introduction of a quantitative easing programme. The 9,000 word document shows its governing council was concerned low oil prices would lead to long-term low inflation. This, in turn, raised the possibility [...]
Oil slides below $60 as US inventory leaps to 14.3m barrels February 19, 2015 The price of a barrel of Brent crude oil has slipped below the $60 mark again, after a survey by the American Petroleum Institute showed inventories had risen by 14.3m barrels last week. That's against expectations of 3.2m barrels. The shock rise goes against figures by oilfield services firm Baker Hughes, which showed the number [...]
Co-operative Group appoints former Asda man Allan Leighton as chairman February 19, 2015 The Co-operative Group has brought in former Asda chief executive Allan Leighton to chair its board. Leighton will take over with immediate effect from Ursula Lidbetter, who was parachuted into the role at the end of 2013 after then-chairman Len Wardle stepped down. It's another string for Leighton to add to his bow: as well as [...]
European markets fall as Greece submits formal request for loan extension to European finance ministers February 19, 2015 After weeks of posturing, the Greek government this morning submitted its formal request for an extension to its Eurozone loan agreement. European markets edged down, with the FTSE 100 dropping 0.4 per cent, Germany's Dax falling 0.7 per cent and France's Cac losing 0.5 per cent in early trading. The euro hit a two-day high [...]
Can you believe it? Rexam share price jumps as board recommends takeover offer by Ball Corp February 19, 2015 The board of Rexam – supplier of quality can to the like of Red Bull and Carlsberg – has recommended a takeover by US rival Ball Corp. The offer comprises 407p in cash and 0.04568 of a new share in Ball, representing in aggregate 628p per Rexam ordinary share. It's thought to value Rexam at [...]
