Fuel costs passed onto consumers May 19, 2011 Businesses in Britain are paying over £250m more for fuel than they were a year ago, research revealed yesterday. And over half (52 per cent) of firms will pass the extra costs onto their customers, Bibby Financial Services found. The research revealed that the impact on Britain’s small and medium sized enterprises is one of [...]
American existing house sales fall May 19, 2011 Sales of previously owned US homes fell in April, a trade group said yesterday, in a sign that the country’s housing market is struggling to recover from the recent financial crisis. Sales slipped 0.8 per cent month-on-month, the National Association of Realtors revealed.
Philadelphia factory growth slows May 19, 2011 Factory activity in the US Mid-Atlantic region grew much more slowly than expected in May, a survey showed yesterday. The Philadelphia Federal Reserve Bank said its business activity index slumped to 3.9 from 18.5 in April. Economists had expected a much higher reading.
US jobs market still struggling May 19, 2011 New claims for unemployment benefits in the US fell more than expected last week, but a rise in the four-week moving average to a six-month high indicated the labour market recovery will remain painfully slow. Initial jobless claims fell 29,000 to a seasonally adjusted 409,000. Yet the prior week’s figure was revised up to 438,000 [...]
Economic indicators slip in the US May 19, 2011 The index of US leading indicators, which gauges the economic outlook three to six months ahead, fell 0.3 per cent in April, from an upwardly revised 0.7 per cent gain in March. The result “indicates perhaps some moderation but not, in our view, a significant slowdown”, according to Nicholas Tenev of Barclays Capital.
Boom in Asia drives profit at SABMiller May 19, 2011 STRONG growth in the emerging markets of Africa, Asia and Latin America helped brewing giant SABMiller beat forecasts with a 19 per cent rise in annual earnings while Europe and North America proved tougher. The world’s second-largest brewer and maker of Miller Lite, Peroni and Grolsch said trading in its emerging markets, which provide over [...]
Booker cashes in as shoppers look for cheap deals in grim consumer climate May 19, 2011 BRITAIN’S biggest cash and carry wholesaler Booker yesterday said it was benefiting from consumers’ “search for value” as it beat forecasts with a 25 per cent jump in annual profit. The firm, which runs around 172 branches supplying convenience stores, restaurants, pubs, schools and prisons, made a pre-tax profit of £71.4m. Chief executive Charles Wilson, [...]
Dairy Crest performance up thanks to Country Life May 19, 2011 DAIRY Crest yesterday said that market-beating performances by brands including Cathedral City cheese and Country Life butter helped profits rise five per cent. The dairy giant reported a seven per cent rise in sales for its five key brands, while the volume of milk sold to major retailers jumped nine per cent after a new [...]
Marston’s toasts first-half as pub grub boosts revenues despite tough market May 19, 2011 A SERIES of cheap food offers at pub group and brewer Marston’s helped it overcome a challenging market and notch up a five per cent increase in profits. The company made an underlying pre-tax profit before one-offs of £29.2m in the six months to 2 April. Group revenue was up 2.8 per cent at £317.9m. [...]
Brick sizes up expansion May 19, 2011 MOSS Bros chief executive Brian Brick is a made to measure retailer, always eyeing how his wares can be better presented or the product line tweaked. Visiting his new three-in-one Moss store, with hire, retail, and specialist bespoke under one roof in Canary Wharf, he breezes around extolling the virtues of a well cut suit [...]
