Survey points to slowdown in Eurozone recovery momentum April 23, 2015 SURVEY figures published yesterday have ended a positive run of data for the Eurozone, suggesting the currency union’s growth may not be as strong as hoped. The purchasing managers’ index – a survey of private sector companies compiled by Markit dropped to a score 53.5 in April from March’s 54.2. A score above 50 signifies [...]
Manufacturers in China report less business April 23, 2015 CHINA’S manufacturers reported a slowdown in business this month, weighing further on the country’s growth expectations. The purchasing managers’ index, (PMI) compiled by Markit and HSBC, dropped to 49.2 from March’s 49.6, according to figures released yesterday. Scores below 50 signify a contraction. Yesterday’s survey showed a rise in new export orders, which may be [...]
BP says North Sea still important as it sells off regional pipeline stake April 23, 2015 OIL GIANT BP is selling its stake in the UK North Sea’s Central Area Transmission System (Cats) to Antin Infrastructure Partners for £324m. The deal comprises a £302m payment on completion, with a deferred £22m payment subject to certain post-closing adjustments. Trevor Garlick, BP’s North Sea regional president, said yesterday the strategy behind the deal [...]
Taylor Wimpey upbeat as order book swells in Spring selling season April 23, 2015 TAYLOR Wimpey said yesterday that it has enjoyed a strong start to the spring selling season thanks to high levels of customer confidence, driven by improving job prospects and more competition in the mortgage market. The housebuilder, which has 24 regional businesses across the UK, said its total order book has grown by 24 per [...]
Pernod lifted by rebound in Chinese market April 23, 2015 STRONG demand from China helped lift like-for-like sales by seven per cent at French beverage firm Pernod Ricard’s third quarter results revealed yesterday. Despite a recent crackdown on the conspicuous consumption of alcohol in China, the company – which derives 15 per cent of its profits from the country – saw sales surge 38 per [...]
Hammerson sells Sheffield’s biggest retail park for £62m April 23, 2015 HAMMERSON said yesterday it has sold Drakehouse Retail in Sheffield as it looks to focus on its other major developments in Croydon and Brent Cross. The FTSE 100 property group has sold the 21,000 square metre retail park located to the south east of Sheffield city centre to 90 North Real Estate Partners for £61.7m. [...]
St Modwen founders sell April 23, 2015 ONE OF the founding families behind St Modwen Properties has sold around £100m worth of shares in the company, sending shares down two per cent yesterday. The New Covent Garden Market developer said the Leavesley family have sold 2.5m shares, equal to a 1.1 per cent stake at 440p per share. The sale leaves the [...]
Sainsbury’s to shed 800 store jobs in bid to save £500m in supermarket price war April 23, 2015 Sainsbury’s is set to axe 800 jobs in stores as part of a shake-up aimed at saving £500m over the next three years to better position itself in the ongoing supermarket price war. The supermarket chain said yesterday that it plans to remove department and deputy managers from certain stores in order to invest [...]
Profits surge at Kent winemaker Chapel Down after large harvests April 23, 2015 Profits at winemakers Chapel Down soared 175 per cent in the year ending December as large harvests poured through to the bottom line. Revenues in the company expanded 21 per cent during the period on the year before, reaching a record £6.1m and leading to pre-tax profits of £187,000. The Kent-based company also saw sales [...]
Sorrell says a Brexit is worse than a Grexit April 23, 2015 SIR MARTIN Sorrell said yesterday that the prospect of a Brexit was now of greater concern than a Grexit, as WPP’s first quarter results showed revenues and sales were up. Total revenues at the world’s largest advertising firm rose 8.3 per cent to £2.8bn in the three months ending 31 March on the back of [...]
