Brand Index: UK’s jobs recovery boosts sentiment on the high street June 3, 2014 IT OFTEN takes time for economic recovery to translate into a tangible feel-good factor. Yet, with green shoots well and truly springing forth for the UK economy, people’s morale seems to be getting a real boost. The latest findings from YouGov and the Centre for Economics and Business Research show that higher economic optimism within [...]
Euro inflation drops ahead of likely rate cut June 3, 2014 INFLATION across the Eurozone dropped in May, according to official figures released yesterday, giving the European Central Bank (ECB) its last price data before a major decision on interest rates tomorrow. Consumer prices in the Eurozone rose by just 0.5 per cent in the year to May, the joint-lowest increase since 2009. Inflation was similarly [...]
Spain and Portugal lead bloc for labour lift as jobless count drops June 3, 2014 THE UNEMPLOYMENT rate in the Eurozone dropped to its lowest level in a year and a half in April, according to figures published in Brussels yesterday. The proportion of the labour force out of work and seeking employment fell to 11.7 per cent, from 11.8 per cent in March. The rate has slowly declined since a [...]
Surveys show rosier outlook for China firms June 3, 2014 THE CHINESE economy firmed up in May according to two separate surveys, soothing concerns that the country’s growth is continuing to slow down. HSBC’s measure of China’s dominant manufacturing base suggested a milder dip in output, with a purchasing managers’ index (PMI) score of 49.4. Though any number below 50 suggests contraction, May was the strongest [...]
Wolseley sales buoyed by the US and Nordics June 3, 2014 PLUMBING supplier Wolseley reported a 5.1 per cent rise in third-quarter like-for-like sales yesterday as strong performance in the US and the Nordics helped to offset disappointing results in its home market. The company, which operates the Plumb Center and Ferguson in the US and Britain, said it expects to grow revenues by four per [...]
Analyst Views: What did you think of Wolseley’s quarterly trading update? June 3, 2014 PAUL CHECKETTS | BARCLAYS Trading in the third quarter was slightly better than our expectations… However the UK was much worse on like-for-likes with a 3.5 per cent decline, although margin of 5.3 per cent was 20 basis points better. They don’t seem to be getting the balance between growth and margins quite right. CLYDE [...]
Rose reports £3m 2013 loss June 3, 2014 PETROLEUM company Rose, formally Vane Minerals, has reported a £3.3m loss in its annual results for 2013, following an impairment charge of £2.9m on its uranium assets. The loss represents a marked change from 2012, when Vane posted a net loss after tax of £542,619. The group reported a gross profit of £1.6m compared to [...]
Crown Estate in £72m sale June 3, 2014 THE CROWN Estate and Hercules Unit Trust (HUT), a Jersey-based fund advised by British Land, said yesterday they have sold a retail park in Leamington Spa for £72m. Ignis Asset Management has bought the 220,000 square feet Leamington Shopping Park in Warwickshire in a deal that reflects a net initial yield of 4.4 per cent. [...]
Hotel Chocolat nears the finishing line on second sweet bond offer June 3, 2014 Chocolate seller Hotel Chocolat is on track to raise up to £5m of development capital through a retail bond offering – which pays interest to customers in chocolate. The company, led by founder Angus Thirlwell, is expected to close the bond offering next week after a month of fundraising. “The early stages are encouraging. We [...]
Shoppers pay £520bn by card as death of cash draws nearer June 3, 2014 THREE-quarters of spending in UK shops is paid for on debit and credit cards, the UK Cards Association revealed yesterday. A decade ago, plastic accounted for half of spending in shops. The surge means that shoppers used cards for more than £520bn of spending in 2013, a record high. The figure compares with spending of [...]
