InterContinental profit down as business travellers melt away February 16, 2010 THE World’s biggest hotel firm InterContinental has warned that without a return of business customers its fortunes will not improve after profit fell 34 per cent last year. InterContinental – which owns the Crowne Plaza and Holiday Inns brands – said trends in the fourth quarter of last year showed some improvements. Occupancy at its [...]
Inflation hits 14-month high of 3.5pc February 16, 2010 BRITAIN’S inflation rate jumped to a 14-month high of 3.5 per cent in January. The increase in the Consumer Price Index (CPI) will mean Bank of England Governor Mervyn King will have to write a letter of explanation to the Chancellor detailing why inflation has risen more than one percentage point above the 2 per [...]
Inflation hits 14-month high of 3.5pc February 16, 2010 BRITAIN’S inflation rate jumped to a 14-month high of 3.5 per cent in January. The increase in the Consumer Price Index (CPI) will mean Bank of England Governor Mervyn King, will have to write a letter of explanation to the Chancellor detailing why inflation has risen more than one percentage point above the 2 per [...]
Premier Foods boosted by traditional brands February 16, 2010 STRONGER sales of branded food products helped boost profits at Premier Foods by 4.5 per cent in 2009 with further growth expected in the coming year. The maker of Hovis bread and Branston pickle reported a trading profit of £323m for the year to 31 December, in line with previously issued guidance. Sales climbed by [...]
Barclays sees record profit but bosses refuse bonuses February 16, 2010 BARCLAYS’ full-year pre-tax profit soared by 92 per cent to £11.6bn in 2009. The figure was boosted by the sale of its BGI fund management arm to US firm BlackRock last year. But even after taking that out of the equation profits were £5.3bn. Barclays Capital investment banking business generated £2.5bn of that. The bank’s [...]
H&M in sales boost February 15, 2010 FASHION chain Hennes & Mauritz posted a second consecutive rise in monthly same-store sales on – sparking hopes of a turnaround. The figures came after seven months of falling figures last year as the downturn hit the group. The global retailer of mid-range fashions said sales rose 1 percent year-on-year in January. In December, the [...]
Men’s pensions two-thirds bigger than women’s February 15, 2010 MEN’S pensions will be nearly two-thirds bigger than women’s among those planning to retire this year, research from Prudential has shown. Men who start drawing a pension during 2010 can expect an annual average income of £12,169 – while women will receive only £7,424. Pensions dropped for both men and women over the past year, [...]
Jobs market “still on the ropes” February 15, 2010 JOB losses are set to surge as the axe swings in the public sector, an employers’ survey has found. The Chartered Institute of Personnel and Development said the jobs market was still “on the ropes” with one in six employers planning redundancies in the first three months of the year. The employers said they planned [...]
Japan still ahead of China after growth boost February 15, 2010 JAPAN has reported a fourth-quarter beating forecasts – maintaining its position as the world’s second largest economy. Real gross domestic product grew at an annual pace of 4.6 per cent from October to December, according to official government figures. The boost means that the country is still slightly ahead of China, with the US still [...]
SuperGroup in £125m flotation plan February 15, 2010 FASHION company SuperGroup is is set to launch a £125m stock market flotation. The move comes after a series of other companies, including fellow fashion retailer New Look, decided to shelve their planned initial public offerings (IPOs) last week. SuperGroup owns the Superdry brand sported by celebrities such as David Beckham and High School Musical [...]
