London retailers unhappy over Olympics confusion September 12, 2011 RETAILERS have been left in the dark over transport plans in London during next summer’s Olympic Games, with a leading industry body urging Mayor Boris Johnson to shed some light on the authorities’ arrangements. “Retailers are being encouraged to put plans in place for next summer but that’s difficult to do without a full picture [...]
Economic uncertainty keeps housing market weighed down during August September 12, 2011 THE UNSTABLE economic outlook kept the UK’s housing market subdued last month, a survey published this morning suggests. The average number of house sales per surveyor fell to 14 in August, the Royal Institution of Chartered Surveyors (RICS) has found – “taking transactions back to June 2009 levels”. Nearly eight in 10 surveyors reported “general [...]
Weak recovery will knock growth in oil consumption September 12, 2011 OPEC has cut its forecast for global oil demand growth next year because of a worsening economic outlook and said that disappointing economic performance in America, the top consumer, could further weigh on fuel use. The Organization of the Petroleum Exporting Countries, in a monthly report yesterday, also said concerns were easing about a tight [...]
Morale boost at Japan’s factories September 12, 2011 Big Japanese manufacturers turned optimistic in the third quarter as output recovered swiftly after the 11 March earthquake and tsunami, but scaled back forecasts for the months ahead due to the yen’s strength and a looming global slowdown, a Ministry of Finance survey showed yesterday. The index of sentiment at large manufacturers rose to plus [...]
Turkish GDP surprises on up side September 12, 2011 Turkey’s economy smashed expectations in the second quarter of the year, official data showed yesterday. The country’s GDP grew by 8.8 per cent compared to the same time last year, after surprising growth of 1.3 per cent compared to the first three months of the year. “The markets had been led to believe by the [...]
Imports hit new high in China September 12, 2011 China’s monthly imports hit a record high after jumping sharply in August, official figures showed yesterday. The country imported 30.2 per cent more than a year earlier, with imports for the month standing at $155.6bn (£98bn). Exports also jumped, however, surging almost 25 per cent to give China a trade surplus of $17.8m. However, the [...]
Mexico output jumps in July September 12, 2011 Mexican industrial output rose by 0.5 per cent in July, beating analyst forecasts, helped by strength in manufacturers such as carmakers. However, analysts expect a slowing US economy to drag down growth in the coming months.
Foster’s takes new swipe at SABMiller bid September 12, 2011 FOSTER’S chairman David Crawford has written to shareholders asking them to brush off SABMiller’s $11bn (£6.2bn) takeover bid. Crawford urges them to stick with current management while promising that the benefits of a demerger of the company’s wine business are yet to be seen. The board has consistently claimed that SABMiller’s bid undervalues the business. [...]
Suzuki seeks to end tie-in with Volkswagen September 12, 2011 SUZUKI Motor wants to end its two-year-old alliance with Volkswagen after the German carmaker accused it of violating their partnership pact by agreeing a diesel engine deal with Italy’s Fiat. An exit by Suzuki would end an alliance forged in December 2009 that was billed as a partnership of equals to bolster VW’s presence in [...]
FREUD AUCTION SET TO BUCK ECONOMIC GLOOM September 12, 2011 LUCIEN Freud’s 1952 painting Boy’s Head is set to prove that art is still seen as a worthwhile investment when it goes on sale at Sotheby’s later this month, expected to fetch up to £4m. Earlier this year, the Bond Street-based auction house posted record sales of $3.4bn (£2.15bn) for the first half of 2011. [...]
