UK inflation rate drops January 17, 2012 Inflation fell sharply in December, supporting Bank of England forecasts for a hefty decline in 2012, due to lower fuel prices and high-street clothes discounting, official data showed. The Office for National Statistics said consumer price inflation fell to 4.2 per cent in December from 4.8 per cent in November, as the decline in inflation [...]
Burberry sales buoyed by Asia January 17, 2012 Luxury retailer Burberry saw a 21 per cent rise in fourth-quarter sales, fuelled by continuing growth in China. In the last quarter of 2011, revenue rose to £574m, with sales in Chinese shops up 30 per cent Burberry attributed the rise to knitwear, men’s accessories and fragrance. Angela Ahrendts, Burberry chief executive officer said: “Our [...]
Dixons sales fall gathers pace January 17, 2012 Dixons Retail said sales declines accelerated over the key Christmas period, though the firm maintained gross margins and claimed it outperformed competitors in Britain. The electricals chain, home to Currys and PC World in Britain, said group sales at stores open over a year fell five per cent in the 12 weeks to 7 January. [...]
China GDP growth beats forecasts January 17, 2012 China’s economy grew at its weakest pace in two and a half years in the latest quarter and it appeared headed for an even sharper slowdown in the coming months as export demand fades and the housing market falters. The fourth-quarter year-on-year growth of 8.9 per cent, although slightly stronger than the 8.7 per cent [...]
ECB triples bond purchases January 16, 2012 The European Central Bank more than tripled its bond purchases last week to the highest level since late November, spending €3.77bn (£3.11bn) as a calm start to the New Year gave way to an intensification of the euro zone debt crisis. The ECB’s bond purchases face renewed scrutiny after Standard & Poor’s mass euro zone [...]
Greek PM promises no default January 16, 2012 Greek Prime Minister Lucas Papademos has promised that his government will secure an agreement on restructuring its debt in time to avoid the country going bankrupt in late March. Greece needs a deal with the private sector, the EU and the IMF to avoid a disorderly default when €14.5bn (£12bn) of bond redemptions are due [...]
Alliance Boots revenue up 14pc January 16, 2012 Alliance Boots has announced 14.1 per cent growth in revenue for the third quarter compared to last year, driven by expansion in the firm’s pharmaceutical wholesale division. The company’s high street Boots stores also enjoyed a strong end to the year with like for like revenue up 4.1 per cent in the five weeks to [...]
FTSE slips as Eurozone downgrades sap confidence January 16, 2012 The FTSE 100 edged down in early trading as the Eurozone crisis sapped confidence with France losing its Triple A rating and Greece teetering on the brink of a disastrous default. Markets are now worried the Eurozone’s bailout fund, EFSF, might lose its Triple A rating after France, the fund’s second-largest guarantor, was stripped of [...]
Now Moody’s threatens France downgrade January 16, 2012 Ratings agency Moody’s said that France’s debt metrics and potential contingent liabilities were putting pressure on the stable outlook for the country’s Aaa credit rating and said it would update its position on France later this quarter. “The deterioration in debt metrics and the potential for further contingent liabilities to emerge are exerting pressure on [...]
Carnival sees $90m impact from cruise ship disaster January 16, 2012 Carnival Corp, the owner of the cruise ship that capsized off Italy’s west coast, said on Monday it estimated the impact to 2012 earnings for loss of use alone to be around $90m (£58m). The group, which said it was providing the information due to financial disclosure rules, said it also anticipated further costs to [...]
