US retail sales rise on auto sector strength October 14, 2011 US retail sales rose in September at their fastest pace for seven months. The increase of 1.1 per cent was driven largely by strong vehicle sales, with the sector reporting 3.6 per cent growth in sales of cars and parts. Sales of building materials and groceries fell, but furniture, electronics and petrol all rose, as [...]
Mattel profits up October 14, 2011 The world’s largest toymaker Mattel announced a rise in profits for the third quarter, with Barbie dolls and Cars 2 spin-offs star performing products. Net income was 15 per cent higher than the same period last year, reaching $301bn (£263.2bn). Worldwide net sales rose by nine per cent, while domestic US sales rose by six [...]
Berlusconi wins confidence vote October 14, 2011 Italian Prime Minister Silvio Berlusconi has won a confidence vote, the 51st he has faced in his career. The Prime Minister, whose government’s budget plans failed to win approval by parliament earlier in the week, won the vote by 316 to 301. The rejection of his budget proposals triggered the vote.
Sony to revamp business after profits fall October 14, 2011 Sony Ericsson is revamping its business as it failed to make a profit in the third quarter. The company broke even after recording a profit of €49m (£42.8m) in the same period last year. Its sales dropped nine per cent drop year-on-year. The company claimed an improvement was being seen, however, noting that both profits [...]
ASOS sees UK sales slowing October 14, 2011 Online fashion and beauty retailer ASOS announced strong growth in the first two quarters of the year, but UK sales are slowing. Year on year sales for the second quarter are up by 53 per cent, and for the first half by 60 per cent. However UK sales rose by only one per cent in [...]
UK construction output down 4.1 per cent October 14, 2011 Construction output was 4.1 per cent lower in August than in the same month last year, according to the Office for National Statistics. Output in the period June to August was 1.9 per cent lower than the same period last year. In the same period new work shrank by 1.8 per cent and repair and [...]
Olympus sacks British chief – shares plunge October 14, 2011 Japan’s Olympus Corp fired its chief executive and president over the Briton’s management of the camera and endoscope maker, sparking a 17 per cent plunge in the firm’s share price on Friday. Michael Woodford, 51, took over as president in April after 30 years at the company, becoming one of only a handful of non-Japanese [...]
China inflation edges down October 14, 2011 China’s consumer inflation dipped to 6.1 per cent in September, retreating further from three-year highs, although stubborn food price pressures will deter the central bank from loosening its policy reins anytime soon. A slowdown in price rises would be welcomed by policymakers as confirmation that a flurry of increases in interest rates and bank reserve [...]
Jupiter assets drop despite new client money October 14, 2011 Jupiter Fund Management bucked the trend of clients exiting high-risk funds to attract around £300m of new money last quarter, though assets still tumbled £2.5bn after slumping stock markets hurt its core equity range. Jupiter, which invests the bulk of its money in equities, said assets under management fell to £22.3bn at September, down from [...]
S&P downgrades Spain by a notch October 14, 2011 Standard and Poor’s cut Spain’s credit rating, sending the euro lower and underlining the challenges facing Europe’s big powers as they prepare to meet G20 counterparts over the euro-zone debt crisis. The rating agency, whose move mirrored last week’s downgrade of Spain by Fitch, cited Spain’s high unemployment, tightening credit and high private-sector debt among [...]
