Strong start for Premier Farnell March 17, 2011 Electronic components distributor Premier Farnell said 2011 had started strongly as it posted an expected 70 per cent jump in 2010 profit, helped by strong growth in emerging markets. Group sales were up eight per cent year-on-year, and the company said momentum had continued into this year. The firm added that its exposure to the [...]
Sales up at bid target ProStrakan March 17, 2011 ProStrakan, the pharmaceutical firm that has agreed to be bought by Japan’s Kyowa Hakko Kirin, narrowed its full-year loss after bouncing back from manufacturing problems. The Scottish firm reported a pre-tax loss of £600,000 against a loss of £15m a year ago, after a 27 per cent jump in revenues. ProStrakan reiterated that the £292m [...]
Expectations of inflation at 2.5 year high March 17, 2011 INFLATION expectations have risen to their highest level since August 2008, increasing the likelihood that price pressures are seeping through into second round effects. Britons expect inflation of four per cent over the coming year, according to the latest Bank of England survey released yesterday. Expectations rose from the 3.9 per cent level, recorded in [...]
Consumer morale at new low March 17, 2011 CONSUMER confidence plummeted to an all-time low in February, according to a Nationwide survey released today. The survey’s headline measure of morale on the high street collapsed by 10 points, as households continue to feel the squeeze. The headline index dropped to a score of 38, from 48 in January. At the same time last [...]
Small businesses call for simplification of taxes and regulation in new budget March 17, 2011 SMALL businesses want the government to deliver a more simple and predictable tax system, according to new research. Almost half – 46 per cent – specifically called for “stable, consistent, predictable and transparent” tax policy, ahead of chancellor George Osborne’s budget next week. Meanwhile, 37 per cent called for cuts in corporation tax, “to a [...]
Immigration limits will hit growth, warn analysts March 17, 2011 RESTRICTIONS on immigration from outside the European Union will harm the UK’s recovery, several economists said yesterday. “Limits on skilled migration have a significantly negative effect on growth,” said Jonathan Portes of the National Institute for Economic and Social Research (NIESR). His sentiments were echoed by former government economist Vicky Pryce, also in attendance at [...]
US grows but price pressures rise March 17, 2011 The US recovery was boosted by another blockbuster series of positive economic releases, yesterday. In Philadelphia, manufacturing activity soared to a 27-year high, the state’s Federal Reserve board stated. The business conditions index jumped from 35.9 in February, to 43.4 this month. Across the whole country, the Conference Board’s index of leading indicators rose for [...]
Rental costs increase across UK March 17, 2011 Rents rose across the country in February, LSL property services revealed today. The average monthly rental price rose 0.2 per cent to £684, reflecting an annual jump of 3.9 per cent. In London rents were up 0.3 per cent in the month, yet have shot up by 7.7 per cent over the past year. The [...]
Euro area construction rebounds March 17, 2011 Construction across the Eurozone was up 1.8 per cent in January, compared to the previous month, bouncing back from a two per cent fall in December.
BEST OF THE BROKERS March 17, 2011 RAB CAPITAL JP Morgan Cazenove (JPM) has downgraded the hedge fund manager to “neutral” with no target price following its full-year results. The broker thinks the firm is still mid-transition, with outflows from its special situations fund expected this year that could be offset by new fund launches. JPM thinks financial risks for the company [...]
