Walker Greenbank sits pretty as sales bloom February 4, 2015 WALKER Greenbank, the interior furnishings group which owns brands including Zoffany and Sanderson, yesterday said full-year profits are expected near the top of analyst estimates due to a 10.3 per cent jump in UK sales, the group’s biggest market. Group sales could reach £83m for the year to 31 January, up 6.4 per cent on [...]
Fake Mervyn takes online phishing trip February 4, 2015 WHEN City workers hang up our ties for a well-deserved retirement, some of us might choose to spend our spare time doing a relaxing spot of fishing. Yet some or other prankster seems to think that former Bank of England chief Sir Mervyn King – now Baron of Lothbury – would prefer phishing. Calling themselves [...]
Idris Elba and PlayTech founder Teddy Sagi rock Gilgamesh in Camden February 4, 2015 The stars came out in Camden last night for a party thrown by PlayTech founder and Israeli billionaire Teddy Sagi. Star of The Wire Idris Elba was on hand in a natty beige trenchcoat to soak up the atmosphere and spin some tunes on the decks while Pixie Geldof followed in his footsteps to break [...]
Service sector rebound quells recovery fears February 4, 2015 THE UK’s dominant service sector picked up in January, new survey data shows. The purchasing managers’ index (PMI) compiled by Markit climbed to a score 57.2 in January from December’s 55.8, according to figures released yesterday. Any score above 50 signifies expansion in activity. Following improvements in purchasing managers’ surveys for the manufacturing and construction [...]
Robust demand in UK improves sales for smaller manufacturers February 4, 2015 SMALLER manufacturers are seeing growth despite weak export demand, survey data reveals today. Of the 437 small and medium sized enterprise (SME) manufacturers surveyed by the Confederation of British Industry (CBI), 26 per cent are more optimistic than three months ago. This compares to the 13 per cent of firms who reported less optimism. Furthermore, [...]
Eurozone gets Christmas lift from fastest sales growth since 2007 February 4, 2015 CHRISTMAS shoppers defied the Eurozone’s problems at the end of last year, driving retail sales growth close to an eight-year high. The volume of retail sales in the currency bloc jumped by 2.8 per cent in December, compared to the same month a year earlier – the quickest year-on-year expansion since early 2007. Compared to November, [...]
Tide could be turning in Europe as services industry picks up pace February 4, 2015 THE NEW year may be seeing a change in the economic fortunes of the Eurozone, new survey data shows. Three of the largest four Eurozone nations registered service sector growth in January, according to Markit’s purchasing managers’ index (PMI) released yesterday. In Germany, the services PMI climbed to 54.0 from December’s 52.1 with sentiment towards [...]
City economists vote to hold rates February 4, 2015 Our guest panel of city economists has voted to hold rates this month. Among the main concerns were lower rates of inflation becoming embedded in people’s expectations. However, one hawk argues that low interest rates are in danger of becoming embedded in borrowers’ expectations. Other concerns were the potential for a new Greek crisis and [...]
Petrobras boss quits alongside five executives February 4, 2015 BRAZILIAN state-owned oil firm Petrobras confirmed the departure of its chief executive, Maria das Gracas Foster, and five other executive directors yesterday. Shares jumped by eight per cent in early trading in Sao Paolo following the announcement of the departures, yet closed only narrowly up. President Dilma Rousseff is being lined up as a replacement [...]
Oil cost collapse due to supplier price war – not weak demand February 4, 2015 PLUMMETING oil prices will prove to be positive for global economic growth and are not a reflection of a slowdown, the UK’s biggest fund manager has said. Some observers had worried that the collapse in oil prices could have been the result of a fall in demand for oil and therefore a signal of a [...]
