Fuller’s upbeat as London defies downturn November 25, 2011 Pub company Fuller Smith and Turner said it has experienced growth in all parts of its business, as its London focus gave it resilience to the economic downturn. Although pub popularity has been very unpredictable, company chairman Michael Turner said in an interview with Reuters, Fuller’s – which has a portfolio of 362 pubs and [...]
Fuller’s grows despite economic downturn November 25, 2011 British brewer and pub chain Fuller’s has reported growth in all parts of its business despite the economic climate, putting its success down to its London focus. Fuller Smith and Turner, whose most famous brand is London Pride, reported pre-tax profits of £16.5m in the six months to October, up five per cent on the [...]
Moody’s cuts Hungarian debt rating to junk November 25, 2011 Hungary’s debt has been rated as junk by Moody’s in a move the country’s Economy Ministry said was “professionally unfounded”. Moody’s cut Hungary’s rating to Ba1 with a negative outlook, citing levels of debt, poor prospects for growth and a lack of credibility to the government’s fiscal policy. Last week Hungary returned to the IMF [...]
Italian bond sale sees record yields November 25, 2011 Italy has managed to sell all €8bn (£6.85bn) of the six-month government debt it offered at auction, but at almost twice the rate of its previous sale. The country was forced to offer 6.50 per cent interest on its bonds, up from 3.53 per cent in October, a record for this length of bond in [...]
FTSE slump continues as Germany digs in November 25, 2011 THE FTSE 100 continued to fall this morning as Germany’s refusal to agree to a common Eurozone bond to shore up the bloc’s finances further drained investor confidence. London’s blue chip index posted its ninth successive day of falls yesterday and has dropped 7.5 per cent in the period – the longest losing streak since [...]
Blacks Leisure issues profit warning November 25, 2011 outdoor goods retailer Blacks Leisure said it expected full-year results to be below expectations after trading conditions weakened further in the last few weeks. “The group is experiencing lower than expected sales and has been taking action to manage margins in order to drive sales,” it said. Blacks reiterated that it required additional funding. It [...]
Shore Capital admits it may suffer full year loss November 25, 2011 Shore Capital, one of Britain’s smaller investment banks, said it could make a loss for 2011 due to the tough market conditions and a writedown on its holding in Puma Hotels which has been embroiled in a dispute with a Spanish group. Both bulge-bracket and smaller, boutique investment banks have been hit by the market [...]
Banks and miners stem tide of FTSE losses November 24, 2011 The FTSE 100 was solid this morning as banks and miners stabilized the index which has taken a battering from the confidence sapping Eurozone crisis. Germany – seen as the kingpin in the bloc – yesterday sold just €3.6bn (£3bn) worth of 10-year bonds, from €6bn euros on offer. That sent shockwaves through markets which [...]
GDP growth confirmed at 0.5pc November 24, 2011 The economy grew 0.5 per cent in the third quarter of this year, in line with previous estimates, but the expansion was largely driven by an increase in firms’ inventories, official data showed. The figures in part mark a rebound from unusually weak growth in the second quarter, due to disruption from extra public holidays [...]
OECD chief: Recession can be averted November 24, 2011 An economic recession can be avoided in Europe but resources are needed to calm financial markets, the chief economist of the Organisation for Economic Cooperation and Development (OECD) said. In an interview in Italy’s La Stampa daily, Pier Carlo Padoan said next Monday’s OECD forecasts will present lower and very weak growth projections based on [...]
