MPC steadied by string of positive data June 14, 2009 CAUTIOUS optimism is likely to dominate the Bank of England’s Monetary Policy Committee (MPC) June minutes due out this Wednesday, in the light of the last fortnight’s string of positive data. Key MPC members including Kate Barker and Paul Fisher have already expressed concerns about the strength and sustainability of the UK’s nascent economic recovery, [...]
WHEN DO YOU SEE UK INTEREST RATES STARTING TO RISE AGAIN? June 14, 2009 GEORGE BUCKLEY DEUTSCHE BANKWe have them rising in the second half of 2010. The Bank might have to raise rates quicker, but on balance the amount of rebalancing that households and firms will have to do in the UK will restrict the pace of growth. IAN MCCAFFERTY CBIWe will need to see some move back [...]
Retail giants set for battle June 14, 2009 SUPERMARKET heavyweights Tesco and J Sainsbury are set to battle it out this week for retail supremacy, when they both announce sales results for the past quarter. Tomorrow, Tesco is expected to report an underlying rise in sales of between 4 and 4.5 per cent, lagging behind J Sainsbury’s predicted 7 per cent growth. Tesco, [...]
Tube strikes are a blot on our global reputation June 14, 2009 MY HEART sank when the International Herald Tribune splashed a large photograph of London commuters struggling to get to work on its front cover. Although the article rightly complimented Londoners on their determination to keep businesses going in the face of crippling tube strikes, it made me angry. This is not the image of London [...]
BUST UP June 14, 2009 DRAGON’S DEN star Theo Paphitis has walked out on lingerie chain La Senza after a bust-up with its private equity owner, Lion Capital. It is thought Paphitis quit the board after a clash of opinions over how the business should be run. The entrepreneur was in talks with Lion to buy a majority stake in [...]
CITY MOVES WHO’S SWITCHING JOBS June 14, 2009 Barnett WaddinghamThe actuaries and consultants firm has appointed four new partners: Alison Hamilton, Sarah Brown, Paul Houghton and Matt Tickle. Hamilton, pictured, joined the firm in 2006 and specialises in public sector actuarial and consulting. Brown and Houghton are scheme actuaries, providing actuarial and consulting advice to employers and trustees of corporate pension schemes, while [...]
Pernod says cheers to Tia Maria June 14, 2009 Tia Maria, the coffee liqueur brand, has been formally put up for sale by owner Pernod Ricard with a price-tag of €200m (£176m). The sell-off is part of the group’s attempt to raise cash after last year’s £5.6bn takeover of Vin&Spirit, the manufacturer of Absolut Vodka. The move follows last month’s disposal of the bourbon [...]
Phones4U tycoon looks at LDV June 14, 2009 Phones4U billionaire John Caudwell is believed to be considering whether to make a bid for stricken van maker LDV which fell into administration last week. It would the tycoon’s first step back into business after he sold his telecoms empire – which included Phones 4u and 20:20 Logistics – for £1.46bn three years ago. Caudwell [...]
Ashley’s new bargain basement June 14, 2009 Newcastle United owner Mike Ashley has set up a £1 shop in the former Burberry headquarters in London’s West End, despite budget retailer TK Maxx being blocked from opening nearby. The former up-market building is now plastered with “sports clearance” signs. It is believed Ashley’s Sports Direct chain is using the store to clear old [...]
Consumer-related stocks to shed some light on spending June 14, 2009 RETAILERS will be very much in the spotlight again this week, with trading updates expected from the great and good of the supermarket world and retail sales data expected to shed more light on the high street picture. Tesco will get the ball rolling tomorrow when it releases its first quarter sales data, but is [...]
