Unemployment falls to 2.45m July 13, 2011 Unemployment fell by 26,000 in the three months to May to 2.45m, official figures showed today. The unemployment rate was 7.7 per cent, according to the Office for National Statistics (ONS), down from 7.8% in the previous quarter. But the number of people claiming Jobseeker’s Allowance increased by 24,500 last month to 1.52m, the Office [...]
Wetherspoon sales edge up July 13, 2011 Pubs firm JD Wetherspoon reported higher fourth-quarter sales and said an encouraging performance from its recently opened pubs should help it achieve a reasonable full-year outcome, despite rising costs and weaker consumer confidence. Wetherspoon on Wednesday said its like-for-like sales for the 11 weeks to 10 July were 1.6 per cent up, with year to [...]
Burberry beats forecasts July 13, 2011 Burberry posted first-quarter sales slightly above forecasts as it raised expectations for its wholesale operations, bolstered by the Americas, emerging markets and travel retail. The British maker of raincoats and leather goods, identifiable by their camel, red and black check pattern, said Wednesday that revenue rose 34 per cent on a comparable basis to £367m, [...]
SuperGroup profit up 89pc July 13, 2011 Fast-growing fashion retailer SuperGroup posted an 89 percent rise in annual profits and saw room for further growth this year. SuperGroup, whose Superdry clothes are a favourite of celebrities such as David Beckham and Leonardo DiCaprio, said on Wednesday that it made an underlying pre-tax profit of £50.2m in the year to 1 May. The [...]
M&S sales rise bucks grim retail trend July 13, 2011 Retailer Marks & Spencer met forecasts with a seventh consecutive rise in underlying quarterly sales, as its older and more affluent customers cope better with a squeeze in disposable incomes. Britain’s biggest clothing retailer, which also sells homewares and upmarket foods, said Wednesday sales at UK stores open over a year, excluding VAT sales tax, [...]
News Corp ups share buy back to $5bn July 12, 2011 News Corp plans to buy back $5bn (£3bn) in stock over the next 12 months as the media company tries to contain the telephone hacking scandal which has sent its share price down about 14 per cent overall. Rupert Murdoch’s media conglomerate responded to investor pressure to support the stock. Shares rose more than two [...]
Eurozone uncertainty drags down markets July 12, 2011 The FTSE 100 dived on opening today after a meeting tabled to thrash out issues related to the Eurozone debt crisis failed to bear fruit. London’s drop mirrored steep falls on Wall Street and in Asia as investors remained unconvinced by the 16-country bloc’s strategy for steering through the crisis. Eurozone leaders gathered with the [...]
Inflation rate unexpectedly falls July 12, 2011 The inflation rate fell unexpectedly in June, with the Consumer Prices Index (CPI) measure down to 4.2 per cent from 4.5 per cent. The Retail Prices Index (RPI) measure of inflation – which includes mortgage interest payments – also fell, from 5.2 per cent to five per cent, the Office for National Statistics (ONS) figures [...]
Greencore buys Uniq for £113m July 12, 2011 Greencore has agreed the £113m takeover of food company Uniq. The Irish food company said said it would pay Uniq shareholders 96p a share. Uniq makes chilled pre-prepared meals as well as sandwiches for the likes of M&S. Dublin-based Greencore earlier this failed in its bid to merge with Northern Foods. It will pay for [...]
Thomas Cook shares dive after profit warning July 12, 2011 Thomas Cook’s has issued a profit warning for its third quarter as the unrest in the Middle East and belt tightening in the UK too its toll. Its shares dived by 28 per cent after the announcement. The travel operator said is French business had been hit by unrest in Egypt, Tunisia and Morocco. Operating [...]
