Retailers pledge warranty action February 7, 2012 Dixons, Comet and Argos, Britain’s three biggest electrical retailers, have promised the UK’s competition watchdog they will improve the transparency of the extended warranties market to avoid a full-blown investigation. The Office of Fair Trading said yesterday its third study in just over a decade of the extended warranties market found consumers may not be [...]
TUI benefits from Thomas Cook troubles February 7, 2012 EUROPE’s biggest travel group TUI Travel said its bookings have outperformed the UK market as it reaped the benefits from strong online sales and troubles at its rival Thomas Cook. The tour operator, which also owns Thomson and First Choice, said yesterday total UK summer bookings were flat in the quarter, compared to a 14 [...]
Inflation slows as shops keep cutting prices February 7, 2012 SHOP PRICE inflation dropped in January, figures out today from the British Retail Consortium (BRC) showed, as last year’s VAT rise fell out of the calculation. Overall, inflation dropped to 1.4 per cent from 1.7 per cent in December, helped by falling commodities prices and declining freight costs, as well as ongoing promotions and discounts. [...]
MOTHERCARE HIRES JOOLS OLIVER February 7, 2012 TROUBLED baby products chain Mothercare has hired Jools Oliver, the wife of celebrity chef Jamie Oliver, to create a new collection of newborn and children’s clothing, bedding and accessories. The retailer, which runs over 1,300 stores in 60 countries including Early Learning Centre stores, said the products are set to hit the shelves in the [...]
FTSE subdued as hopes pinned on a Greek deal February 7, 2012 BRITAIN’S blue-chip index closed flat yesterday after staging a late recovery on talk that Greece was making progress towards securing a bailout deal and avert a messy default. The FTSE 100 gauge ended the session 1.94 points lower at 5,890.26 as gains among banks and oil stocks offset heavy losses in the mining sector, which [...]
Eurozone fears halt rise on good fundamentals February 7, 2012 US stocks rose slightly yesterday, but with the outcome of discussions on a bailout package for Greece uncertain, investors are unlikely to make big bets in coming days. The Dow Jones industrial average was up 33.07 points, or 0.26 per cent, at 12,878.20. The Standard & Poor’s 500 Index was up 2.72 points, or 0.20 [...]
Carry on carry trading the Aussie dollar as rates held February 7, 2012 THE Reserve Bank of Australia caught the markets by surprise after holding interest rates yesterday – contrary to the expected cut. With December retail figures contracting, house prices dropping an average of 4.8 per cent year-on-year and housing construction in a 20 month slump, traders were poised for a 0.25 per cent cut in rate [...]
THE TIPSTER HUNTING FOR EURO BULL GAINS February 7, 2012 THE euro-dollar pair continues to hold onto ground above the $1.3000 level, but the nerve of the bulls is being tested as discussions in Greece drag on. Recent data has indicated that there are fewer euro shorts than there were at the beginning of the year, so can euro-dollar continue to push higher? Capital Spreads [...]
MPs waver over bashing bank bonuses February 7, 2012 CHANCELLOR George Osborne gave a confused view on the banker-bashing bonus debate yesterday, at first calling them “unacceptable” and then castigating others for creating an “anti-business culture”. Speaking at a dinner held by the Federation of Small Businesses, Osborne (pictured) said: “Of course rewards for failure are unacceptable – and those who believe in the [...]
The UK mood is improving but remains fragile February 7, 2012 THE LATEST YouGov HEAT (Household Economic Activity Tracker) report reveals that the public felt more confident about the economy in the first month of 2012 than in any month of 2011 except for April. The HEAT Index rose to 92 (on a scale of 0-200), which, apart from that April spike, is the highest level [...]
