Trade deficit widens more than expected in November January 11, 2012 Goods trade deficit widened more than expected in November, unwinding the previous month’s record narrowing as exports fell and imports of o widened more than expected in November, unwinding the previous month’s record narrowing as exports fell and imports of oil and chemicals rose to record highs, official data showed. The Office for National Statistics [...]
Greggs in festive boost January 11, 2012 Baker Greggs posted a rise in sales over the Christmas and New year trading period and forecast more growth in 2012. The Newcastle, North East England-based firm, which sells bread, sandwiches, savouries, cakes and pastries to over 6 million customers a week, said on Wednesday sales at stores open over a year rose 5.1 per [...]
SABMiller in £4bn bond auction to finance Foster’s deal January 11, 2012 Global brewer SABMiller aid it had issued and successfully priced a $7bn (£4bn) bond auction with the proceeds used to repay part of the bank borrowing taken on for the purchase of Australian brewer Foster’ s late last year. The London-based brewer of Miller Lite, Peroni and Grolsch beer finalised the cash takeover of Foster’ [...]
SuperGroup sales jump over Christmas January 11, 2012 SuperGroup, the company behind the Superdry fashion brand, posted a 22 per cent rise in group sales over the key Christmas period as it overcame distribution issues which had dogged the firm in 2011. The company, whose clothes are a favourite of celebrities such as David Beckham, Leonardo DiCaprio and Zac Efron, said total sales [...]
Sainsbury’s sales top forecasts January 11, 2012 Grocer J Sainsbury beat Christmas sales forecasts as store extensions and its expansion into convenience outlets, online shopping and non-food ranges helped it weather a tough market. Britain’s third-biggest supermarket group behind Wal-Mart’s Asda and industry leader Tesco said on Wednesday sales at stores open over a year rose 2.1 per cent excluding fuel in [...]
Nomura executive Bhattal quits after heavy losses January 10, 2012 Jesse Bhattal, the highest-ranking ex-Lehman Brothers executive at Japanese investment bank Nomura Holdings, has resigned after the wholesale division he led suffered heavy losses. The loss of Bhattal is the latest blow to Nomura’s ambitions to join the elite ranks of global investment banks following its acquisition of Lehman’s European and Asian operations after the [...]
Tesco loses market share in run-up to Xmas January 10, 2012 Britain’s biggest retailer, lost grocery market share in the run-up to Christmas as rivals fought back against its price-cutting campaign and cash-strapped shoppers flocked to discount stores, according to new data. Market researcher Kantar Worldpanel said grocery sales rose 4.8 per cent in the 12 weeks to 25 December. That lagged a 5.9 per cent [...]
Resource stocks stoke FTSE gains January 10, 2012 The FTSE 100 saw solid gains this morning as resource and energy stocks were boosted by upbeat forecasts from US aluminium giant Alcoa and figures showing growing demand from China. Alcoa, the largest US aluminium producer, reported fourth-quarter revenue that beat Wall Street expectations, even though it registered a loss. The earnings news had a [...]
Recruiter Hays hit by domestic slowdown January 10, 2012 Tough economic conditions have hit the confidence of employers and jobseekers alike in recent months, British recruitment company Hays said in reporting a drop in business in its home market and a slowdown in growth overseas. Hays, which specialises in placing office workers such as accountants, IT workers and secretaries, said on Tuesday net fees [...]
High speed rail line gets the green light January 10, 2012 A new £32bn high-speed rail line between London and Birmingham has been given the go ahead by the government. Transport Secretary Justine Greening has announced extra tunnelling for sections of the 90-mile (140km) link in response to environmental concerns. This first phase of High Speed Two (HS2) could be built by 2026. The first phase [...]
