Struggling retailers can’t just blame the downturn August 11, 2008 The threat of recession is an excellent excuse for retailers to blame someone else for their poor performance. Things are certainly getting tougher out there, but retailers whose sales are falling faster than average are losing market share. Simple as that. Monthly retail sales are wildly volatile, but look at it this way – in [...]
UPS plans to deliver £8bn bid for TNT August 11, 2008 American delivery service United Parcel Service (UPS) is understood to be preparing a €10bn (£7.8bn) bid for Dutch rival TNT, in a long-heralded move that would create a new global delivery giant. Early-stage talks about a deal are thought to have been ongoing in the last few days, after years of speculation about a takeover [...]
The firms the credit crunch has favoured August 11, 2008 The news about the worsening economy seems relentless and yet it is not all bad. As the credit crunch celebrates its first birthday, it’s clear that some companies are benefiting from a trend towards trading down. Consumers might be feeling the the pinch but budget options are becoming more appealing and companies such as Dominos, [...]
We were too optimistic, CBI admits August 11, 2008 Inflation is set to reach 5 per cent this year, the employers’ group warns its members Business should brace itself for a prolonged rocky ride as the economy deteriorates faster than expected, CBI director-general Richard Lambert has warned. In a letter to members of the UK’s largest business group, Lambert said forecasters, including the CBI, [...]
Water bills face rise August 11, 2008 Britain’s water companies are planning to increase household water bills to fund their investment plans for the 2010-2015 period, piling further pressure on hard-pressed consumers already coping with rising living costs. Southern Water, Thames Water and United Utilities, which submitted their five-year investment programmes to industry regulator Ofwat yesterday, revealed the highest increases above inflation. [...]
Olympics mean it’s time for a punt August 11, 2008 Innovative bets can add interest to the Olympic Games and the football season, says Chris Shillington So, the Olympics have finally begun, and there’s plenty to keep spread betters interested. If there’s one thing that everybody is sure of at the Games, it’s that China ought to improve on the 32 medals that it won [...]
It’s best to trade on what you see, not what you think August 11, 2008 In these uncertain markets, instinct and common sense can be a trader’s best friend, says Sandy Jadeja There is an old saying that we should trade what we see and not what we think. Now, I for one agree. The moment I start to think about what’s happening in the markets rather than trade based [...]
Broad: ‘We’ll do it for you, KP’ August 11, 2008 Fast bowler Stuart Broad insists England will be going all out to win for captain Kevin Pietersen in today’s final day of the fourth Test at The Oval. The hosts require 197 runs to record a morale-boosting win and hand Pietersen victory in his first match as skipper. And Broad, who took a crucial 3-44 [...]
Georgia pulls forces out of rebel region August 11, 2008 Georgian forces pulled out of the breakaway South Ossetia region yesterday after three days of fighting, with Russia saying its troops controlled most of the separatist capital Tskhinvali. A Georgian convoy of troops and artillery left South Ossetia through Ergneti, a village just inside Georgian held territory south of Tskhinvali. “They have been withdrawn, completely,” [...]
UBS set for £2.7bn more credit crunch write-offs August 11, 2008 UBS IS expected to write off €3.5bn (£2.7bn) in assets damaged by the credit crunch tomorrow, as the interim banking results season limps to a close. The Swiss banking giant, which had significant exposure to US subprime mortgages, has endured a year of gloom, posting writedowns of $37bn since the beginning of the credit crunch [...]
