Japan moves to weaken yen September 15, 2010 Japan sold the yen in the market on Wednesday for the first time in six years, trying to stop the currency’s relentless climb from hurting exporters and threatening a fragile economic recovery. Fresh after a victory in party leadership contest, Japan’s Prime Minister Naoto Kan appeared to be stepping up efforts to wrench the country [...]
Next profit up 15pc September 15, 2010 Next has seen pre-tax profit for the first half rise 15 per cent to £213m. Sales across the group were up five per cent while the interim dividend was hiked by 6p to 25p. Meanwhile earnings per share rose 24 per cent., in the six months to 31 July. Next ended the period with net [...]
CPI remains at 3.1pc September 14, 2010 Consumer price inflation held steady in August, after unexpectedly strong rises in airfares, clothes and food prices offset falling fuel costs, official data showed. The Office for National Statistics (ONS) said consumer price inflation came in at 3.1 per cent last month in contrast to economists’ expectations for a fall to 2.9 per cent. On [...]
National Express given rail franchise reprieve September 14, 2010 The new coalition government has given National Express a reprieve on the East Anglia rail franchise by granting an initial extension, the company said. National Express, which also runs the C2C franchise, said the Department for Transport had agreed an initial 28-week extension beyond the original expiry date of 31 March 2011. The previous Labour [...]
Fund manager Ashmore in profit surge September 14, 2010 Emerging markets fund manager Ashmore beat forecasts with a 36 per cent rise in full-year profit, boosted by a sharp increase in investor appetite for emerging market debt products. The specialist manager reported a pre-tax profit of £217m for the year to June, compared with a forecast for £196m. The performance was driven by increased [...]
SuperGroup sales surge September 14, 2010 SuperGroup, the company behind the trendy Superdry fashion brand worn by celebrities such as David Beckham, reported soaring sales, underscoring its status as one of the hottest fashion labels around. The retailer and wholesaler, whose shares have doubled since a March flotation, making it the UK’s most successful IPO so far this year, said on [...]
Debenhams predicts 20 per cent profit rise September 14, 2010 Debenhams said annual profit would be slightly ahead of analysts’ average forecast, helped by a pick up in fourth-quarter sales and higher profit margins. The group, Uk’s second largest retailer with 160 stores in Britain and Ireland, six in Denmark and 60 franchised outlets overseas, said profit before tax and one-off items for the year [...]
Mortgages in slim rise September 13, 2010 THE number of mortgages for house buyers increased to 56,000 in July – a rise of seven per cent on the previous month, the Council of Mortgage Lenders (CML) said. This was also up six per cent up on the same month a year ago. But the group said that despite the seasonal rise, the [...]
Primark “performing well” in tough market September 13, 2010 Clothing chain Primark has continued to perform strongly despite the tough consumer environment and expects annual sales growth of six per cent, owner Associated British Foods (ABF) said. The strength of sterling against the dollar helped the chain when goods were bought in the dollars because of a favourable exchange rate, the company said. However [...]
BAE looking to offload US unit September 13, 2010 British defence company BAE Systems said it had hired advisors to sell its Platform Solutions business. “BAE Systems confirms that it has engaged Wells Fargo and JP Morgan to advise on strategic options with regard to the Platform Solutions business, including a possible sale,” the company said in a statement. “There can be no certainty [...]
