Ericsson beats analyst targets October 20, 2011 Forecast-topping results from Ericsson yesterday showed the world’s top mobile network gear maker can still out-muscle rivals, even as global growth slows. It posted core profits of £605m, with sales were well above forecast. Its key networks unit posted 25 per cent growth. Smartphones and tablet computers have fuelled demand for faster, more efficient networks, [...]
UK consumer morale drops in September October 20, 2011 CONSUMER morale sunk again last month, in a worrying sign for the domestic UK economy. The widely regarded Nationwide consumer confidence index sunk for the fourth straight month, it revealed this morning. The index fell to 45 points in September, from 48 points in August. At the same time last year, September 2010, the index [...]
Rise in retail sales fails to lift outlook for struggling high street, analysts say October 20, 2011 SALES of laptops and video games gave a surprise lift to British retail sales in September, supporting hopes that the economy posted at least some growth in the third quarter, without changing an overall dire outlook. The Bank of England has warned of a tough winter ahead, predicting that growth will be close to zero [...]
Lending to businesses is still subdued, says Bank October 20, 2011 LENDING to businesses fell again in the three months to August, Bank of England figures showed yesterday. On an annualised basis, the stock of lending from financial institutions fell by 2.1 per cent, or £2.5bn. The decline represents a slowing rate – lending was down 5.8 per cent in the three months to July and [...]
BEST OF THE BROKERS October 20, 2011 ASOS Goldman Sachs rates the online retailer as a “buy” with a target price of 3,350p, and lowers its estimates following the company’s first half trading update. The broker now sees retail sales growth of 55 per cent for fiscal year 2012 and 47 per cent for 2013, revised down from 63 per cent and [...]
FTSE hit by fresh Eurozone discord October 20, 2011 BRITAIN’S leading share index was pulled lower by financials yesterday as political discord again hampered efforts to resolve the Eurozone debt crisis, leaving it on course to snap a three-week winning streak. News of stalled talks between France and Germany to forge a “comprehensive” plan to end the crisis ahead of a meeting of regional [...]
Wall St edges up despite fear over Europe October 20, 2011 THE Dow and Standard & Poor’s 500 rose slightly yesterday after a joint statement by France and Germany eased some jitters over resolving the Eurozone debt crisis. Throughout much of the session stocks see-sawed between gains and losses as investors reacted to a flood of headlines about efforts to deal with debt-laden Eurozone states. France [...]
Merging national insurance with income tax will boost transparency and cut costs October 20, 2011 NEXT month George Osborne will deliver his Autumn Statement, and it will have to be a good one. With the economy stalled and high unemployment, he needs a credible plan for economic growth. The credibility of the fiscal adjustment is on the line. Spending cuts are right and necessary but they are only one part [...]
Solicitor general: The US lesson on firm punishment October 20, 2011 IS PROSECUTION always the right response to corporate crime? Sometimes it can be a blunt instrument, causing unintentional collateral damage. Companies are not people and cannot be sent to prison: the effect of a prosecution can be felt by innocent employees, pensioners and shareholders as much as by the directors. Arthur Andersen’s collapse in 2002 [...]
Innovation alarm bells should not be ignored October 20, 2011 THERE has been a running controversy in the Forum this week about the rate of technological innovation (see Rapid Reponses, above). After an article by Norman Lewis argued that too much praise for Steve Jobs was a distraction from the importance of truly revolutionary scientific discoveries and world-shaping technological breakthoughs, readers have enthusiastically joined the [...]
