Slowing growth in China spooks global investors October 18, 2011 CHINA’S economy grew 9.1 per cent in the third quarter from a year earlier, its weakest pace since early 2009, and just below market forecasts. The country’s growth slowed from 9.5 per cent in the second quarter of the year, according to official figures released yesterday. The bearish news contributed to some sharp drops in [...]
CITY VIEWS: HAVE YOU NOTICED RISING PRICES IN YOUR EVERYDAY LIFE? October 18, 2011 DAVID PHILLIPS | JRP UNDERWRITING “Yes, on a daily basis we hear about extremely high rises in every day living expenses, it doesn’t worry me just yet but if it gets any worse then it will be something we seriously need to worry about.” SHANE KILLEEN | PERCEPTION “I haven’t particularly noticed a large increase [...]
Fastest price rises since CPI began in 1996 October 18, 2011 CONSUMER prices increased at a record rate in the year to September, the Office for National Statistics (ONS) said yesterday. The consumer price index (CPI) rose to 5.2 per cent – the highest since it was introduced in 1996, and equal to the peak in September 2008. The figure was 4.5 per cent in the [...]
Inflation-linked benefits bill set to soar in 2012 October 18, 2011 BENEFITS will cost billions more due to soaring inflation, the Institute for Fiscal Studies (IFS) claimed yesterday. Pensions, job-seekers’ allowance, incapacity benefit and severe disability allowance are all linked with consumer price index (CPI) inflation. Next April’s increases are calculated using September’s rate, the highest ever. When the Office for Budget Responsibility increased its inflation [...]
Canaccord on stand-by for Evolution bid October 18, 2011 CANACCORD Financial, the Canadian financial services group, was waiting on the sidelines yesterday as Investec’s £200m-plus all-share takeover of Evolution Group hit problems. Canaccord pulled out of the bidding last month, leaving Investec as preferred bidder. Under Takeover Panel rules Canaccord is barred from relaunching a takeover for six months but yesterday those close to [...]
Mayor attacks chancellor on Eurozone ideas October 18, 2011 BORIS Johnson yesterday attacked one of George Osborne’s key positions on the Eurozone crisis when he said that any attempts at greater fiscal union would be “absolutely crazy”. Speaking at a journalists’ lunch in Westminster, the Mayor of London said: “I think it’s absolutely crazy to decide the solution to the euro crisis is to [...]
PROTESTS CONTINUE AT ST PAUL’S October 18, 2011 ANTI-CAPITALIST protestors outside St Paul’s Cathedral yesterday said the number of tents in their camp has now reached 150. The fourth day of demonstrations passed peacefully with no arrests made as the group of anti-capitalists organised themselves for a long stay.
Coke’s global sales fizz up amid turmoil October 18, 2011 SOARING demand in the emerging markets helped Coca-Cola post a strong increase in sales yesterday, but the drinks giant warned it is about to take a hit on foreign exchange. Sales in the third quarter rose seven per cent by volume in Latin America, Eurasia and Africa and six per cent in the Pacific region, [...]
Yahoo suffers after chief’s exit but Intel upbeat over UK October 18, 2011 YAHOO last night paid the price for a summer of discontent and weak online advertising as it reported a third quarter slump. Profits for the quarter, the last under chief executive Carol Bartz, who was fired in September, fell 26 per cent to $293m (£186.57m), or 23 cents per share. Net revenue, which excludes fees [...]
Johnson & Johnson profit falls but still beats Wall St forecasts October 18, 2011 JOHNSON & Johnson’s third-quarter earnings fell on lower US sales, but the weaker dollar and strong demand overseas helped the company beat Wall Street forecasts. J&J earned $3.2bn (£2.04bn), or $1.15 per share, compared with $3.42bn or $1.23 per share a year earlier. Excluding special items, J&J earned $1.24 per share. Analysts on average had [...]
