Burberry revenue jumps as new flagship store opens in Shanghai April 16, 2014 Fashion heavyweight Burberry has reported a boost in revenue of 19 per cent to £1.3bn for the six months to 31 March. Retail revenue also rose by 13 per cent to £928m, with comparable sales growth in line with the company's expectations. Burberry saw digital outperform in all regions, while eleven stores were opened including [...]
Asian markets advance after boost to US tech stocks April 16, 2014 Asian shares have been given a boost after US technology stocks led a better performance on Wall Street. Japanese tech and telecoms group SoftBank, enjoyed a strong rise in the wake of a solid earnings report from Chinese affiliate Alibaba. Official data showed the Chinese economy grew at the slowest rate for 18 months in [...]
Why banning Uber won’t save Belgium’s anachronistic taxi industry April 15, 2014 A Belgium court has ruled that one of the world's most innovative taxi services, Uber, is now illegal. Should the company have the temerity to continue its business it will be fined €10,000 (£8,200) for each violation. It has been a quick end to the company's time operating in Belgium, which only began in February. [...]
Coca-Cola profits take 8pc hit April 15, 2014 Coca-Cola has announced a fall in profits of eight per cent for the first quarter of 2014 after volumes in Europe waned and the company sold its bottling operations in Brazil. The world's biggest soft drink maker saw revenue fall by four per cent to $10.5bn (£6.2bn) from $11.03bn during the same period the previous [...]
Why does it take the threat of a Russian invasion to stop EU protectionism? April 15, 2014 The European Union has proudly announced that it will be lifting €500m worth of tariffs on Ukrainian goods. The EU's magnanimous move covers 94.7 per cent of current tariffs on imports of industrial goods and all tariffs on Ukraine’s agricultural produce. Ukraine will not be required to provide reciprocity, but the EU will be obligated [...]
Punch Taverns sees profit per pub climb 4pc April 15, 2014 Pub operator Punch Taverns has achieved a profit before tax of £50m for the 28 weeks to 1 March and is on track to meet its full year profit expectations. The pub chain delivered an average profit per pub of four per cent across its entire estate of 3,956 establishments. Punch's like-for-like income rose 1.4 [...]
SABMiller continues to grow in tough environment April 15, 2014 Foster's brewer SABMiller has reported a rise in net producer revenue of three per cent for the year to 31 March. The company's trading statement showed total beverage volumes grew two per cent for the year, with lager up one per cent and soft drinks up five per cent.The company said it had continued to [...]
Asian markets dip as Chinese credit slowdown outweighs US optimism April 15, 2014 Asian shares are in retreat as tensions in Ukraine and the credit slowdown in China tempered investors optimism after improved US economic data. Western leaders have condemned Russia's President Vladimir Putin for escalating tensions in Ukraine where pro-Russian forces ignored warnings to leave areas of the eastern part of the country. Foreign secretary William Hague [...]
Ecigarettes: A solution with which the World Health Organisation has a problem April 14, 2014 Ecigarettes may be facing their greatest challenge yet, as elements of the World Health Organisation (WHO) have suggested plans to regulate the electronic devices as stringently as conventional tobacco, according to leaked documents seen by the Financial Times (FT). Should the proposals go ahead, ecigarettes would fall under the Framework Convention on Tobacco Control (FCTC), [...]
Asian markets slide as Ukraine crisis escalates April 14, 2014 Asian markets are experiencing partial retreats after Friday saw sliding shares on Wall Street and tensions escalate in Ukraine over the weekend. On 11 April, JP Morgan posted results significantly below estimates, with net income dropping to $5.3bn (£3.2bn), compared with $6.5bn a year earlier. The biotech sector also struggled, leading the Nasdaq substantially lower. [...]
