Business polls still point to UK recovery April 3, 2011 BUSINESS surveys continue to point to a rebound in growth for the first three months of this year, but economists are divided on the extent to which the UK economy will recover. Business surveys due out today and tomorrow, which cover March, will reveal the level of progress in the construction and services sectors, which [...]
PwC: Budget was good for businesses April 3, 2011 CHANCELLOR George Osborne received a boost today, when a poll revealed that three quarters (74 per cent) of businesses believe that the Budget made the UK a more attractive place to do business. Osborne pledged several increments of cuts in corporation tax as well as reforms to Controlled Foreign Company rules, in last month’s Budget. [...]
Fund managers expect economy to grow but warn of sluggish progress April 3, 2011 ALMOST two thirds (63 per cent) of fund managers believe the UK economy will grow over the next 12 months, a survey revealed today. However, a majority of fund managers (54 per cent) expect the economy to only “marginally” improve, as sluggish growth looks likely to stall the recovery. Faith in sterling nonetheless remains strong, [...]
ECONOMISTS’ VIEWS: IS THE UK ON COURSE TO BOUNCE BACK IN QUARTER ONE? April 3, 2011 SIMON WARD | HENDERSON I am encouraged by the strength of employment expectations in EU surveys for March, suggesting that firms have weathered recent events with their optimism intact. PHILIP SHAW | INVESTEC We expect to see GDP rebounding by 0.8 per cent in the first quarter of the year. That would reflect around 0.5 [...]
Manufacturers oppose rate rise April 3, 2011 A sustained economic recovery in the UK “cannot be taken for granted,” manufacturers’ group EEF said today. “Interest rates must remain on hold until much stronger evidence emerges of a healthier economy,” said EEF economist Lee Hopley. “Any bounce back in the first quarter will not necessarily signal a rebound in economic fortunes,” she added. [...]
Weak recovery in the Eurozone April 3, 2011 Growth in the Eurozone will be sluggish in 2012, while the single currency area faces strong downside risks, Ernst and Young’s spring economic forecast will state today. The euro area economy is recovering “at a much slower pace than expected,” with forecast GDP growth of just 1.5 per cent this year and 1.7 per cent [...]
Travelex eyes another sale April 3, 2011 FOREIGN exchange company Travelex is poised to appoint bankers to advise on the sale of its global business services, as it builds up cash reserves to expand its currency services in global markets. Travelex’s global business services operation is currently the largest non-bank provider of foreign exchange services to businesses and financial institutions. A source [...]
Goldsmiths owner on the block for up to £200m April 3, 2011 JEWELLER Aurum Holdings, owned by failed Icelandic bank Landsbanki, has been put on the block for as much as £200m. Aurum, which owns 165 Mappin & Webb, Watches of Switzerland and Goldsmiths stores, posted core earnings of £16.1m, up 53 per cent, on like-for-like sales of £326m in the year to 30 January 2011. Aurum [...]
Tesco launches website for used-car sales April 3, 2011 SUPERMARKET chain Tesco yesterday launched an online used-car sales service, giving customers access to thousands of pre-checked vehicles at set prices. To avoid the pitfalls usually associated with buying a second-hand vehicle, all cars will undergo an RAC inspection and be provided with full service history and details of any damage. Tesco claims the service [...]
FTSE expected to dip as traders take some profits April 3, 2011 The first 100-point gain for the FTSE 100 index on Friday since the start of the year is likely to prove too much of a temptation for those looking to bag some profits this morning, with the usual headaches still tormenting the markets: oil and the European debt crisis. In out-of-hours trading, GFT is forecasting [...]
