Billabong gets new debt deal September 19, 2013 AUSTRALIA’S Billabong International yesterday accepted a sweetened refinancing proposal from US hedge funds Oaktree Capital Management and Centerbridge Partners, and appointed an industry veteran as its new chief executive. The funds have been vying with US private equity firm Altamont Capital Partners to refinance the business, with Billabong previously accepting a proposal from Altamont. New [...]
UK car manufacturers shrug off summer lull with 16.2pc growth September 19, 2013 THE BUOYANT car manufacturing industry in the UK is still going from strength to strength, with another strong increase recorded in August. According to the Society of Motor Manufacturers and Traders (SMMT), UK manufacturers built 91,282 cars last month, over 12,000 more than in August last year, an increase of 16.2 per cent. Both domestic [...]
Retailers record unexpected dip in August sales September 19, 2013 RETAILERS failed to match July’s strong activity last month, with a 0.9 per cent month-on-month drop in sales revealed by the Office for National Statistics (ONS) yesterday. However, sales were still up in comparison to August 2012, rising by 2.1 per cent over the 12-month period. August’s drop was driven by a decline in food [...]
London leads UK as optimism on house prices rockets again September 19, 2013 BRITONS are more upbeat on house prices than at any point in the last three and a half years, according to the Knight Frank sentiment index out today, as the economy recovers. And they believe prices are rising at their fastest pace since 2009. More than one-fifth of those surveyed believe their house’s value has [...]
Ireland pulls out of recession as exports help recovery strengthen September 19, 2013 THE IRISH economy climbed out of recession in the second quarter, official figures showed yesterday, as the struggling Eurozone nation showed signs of life. National accounts reveal a 0.4 per cent increase in GDP in the three month period, driven by growth in exports which soared 4.3 per cent. However, GNP – which excludes some [...]
Greek unemployment drops for the first time in four years September 19, 2013 GREEK unemployment fell for the first time in four years during the second quarter, according to official figures released by the government yesterday. Though unadjusted for seasonal effects, the number of people out of work dipped from 27.4 per cent in the first three months of the year to 27.1 per cent between April and [...]
Factories reveal order books at a six-year peak September 19, 2013 MANUFACTURERS reported the fullest order books in six years this September, as the most recent Confederation of British Industry (CBI) survey reveals a strong performance. A full 28 per cent of firms said their order books were busier than normal, while only 19 per cent said they were below their usual level. Orders have risen [...]
Meet the poster child for new euroscepticism September 19, 2013 Iceland’s PM tells Tim Wallace the country only recovered because it is not in the Eurozone ICELAND is back from the brink, and Prime Minister Sigmundur David Gunnlaugsson wants the world to know it. The tiny mid-Atlantic nation’s outsized banking system fell apart in the financial crisis in such dramatic style that the country became [...]
Raspberry Pi sales fail to turn around Premier Farnell’s luck September 19, 2013 BRITISH electronics parts distributor Premier Farnell reported a dip in profits for the first half of 2013 yesterday, and said the company had little forward order visibility for the second half of the year. Sales were boosted by the company’s popular Raspberry Pi computer – which accounted for £15m of Premier Farnell’s total sales – [...]
Summer heatwave drives sales up at Booker September 19, 2013 THE UK’s hottest summer in seven years helped to drive up sales at Booker Group over the past quarter. The UK’s largest cash and carry wholesaler yesterday said like-for-like sales were up 3.5 per cent in the 12 weeks to 13 September. Including sales from Makro, which Booker bought last year, sales surged 19.3 per [...]
