West End shop sales soar ahead, defying post Christmas slump February 13, 2011 LONDON’S West End stores have seen strong growth in sales in January, despite the rise in VAT and sluggish wage growth, it was revealed today. Retail sales were up 5.8 per cent compared to the same time last year, the New West End Company said. An increase in menswear was particularly notable, it said, reporting [...]
ECONOMISTS’ VIEWS: IS INFLATION HERE TO STAY? February 13, 2011 JAMIE DANNHAUSER | LOMBARD STREET RESEARCH “We broadly sympathise with the view of the Bank – that inflation will peak this month or in March, but fall heavily in January next year and be below target through next year.” IAN STEWART | DELOITTE “My assumption is that a good deal of the excess inflation relates [...]
Youth joblessness not so severe, says stats critic February 13, 2011 BRITAIN’S youth unemployment is bad but exaggerated by the government’s statistics office, an ex-Treasury statistician has said ahead of the latest labour market figures released on Wednesday. Unemployed young people account for “barely one per cent of the population,” claimed economic data guru Simon Briscoe. More young adults are attending tertiary education than ever before – [...]
Chinese economy overtakes Japan February 13, 2011 China has become the world’s second largest economy, overtaking Japan, it was revealed last night. Japan’s GDP shrank by 0.3 per cent in the quarter, the first decline for five quarters but slightly better than expected.
House prices face decline in 2011 February 13, 2011 House prices will fall by 1.7 per cent this year, the Centre of Economic and Business Research (CEBR) said today. However, prices will start to edge upwards again in 2012, it said.
Service sector morale plummets February 13, 2011 Business confidence slipped in January, membership group BDO revealed today. BDO’s optimism index fell to 92, from 94.8 in December, further below the 95 mark that signals growth. Service sector confidence fell to 88.4 in the month.
Apple plots cheaper iPhone to fight Google February 13, 2011 APPLE is developing a low-cost version of the iPhone as its battle with Google to control the smartphone market heats up. Steve Jobs’ company is said to be working on a “nano” version of its premium product which will be around half the size of the iPhone 4. Mobile carriers could sell on the product [...]
Russian iron firm plans London IPO February 13, 2011 RUSSIA’S biggest iron ore producer is planning to sell 20 per cent of its shares on the London Stock Exchange, valuing the company at £12.3bn. Metalloinvest, which is half-owned by oligarch Alisher Usmanov, could be launched into the FTSE 100 by the listing. The company has appointed Deutsche Bank, Merrill Lynch and Credit Suisse to [...]
Nokia chief denies split loyalties February 13, 2011 NOKIA CEO Stephen Elop yesterday dismissed insinuations that his loyalties were still with his former employer, Microsoft, because he owned shares in the software company and did not hold any Nokia stock. “I am not a Trojan horse,” Stephen Elop said ahead of the Mobile World Congress in Barcelona. The decision to partner with Microsoft [...]
Tillman mulls Jaeger sale February 13, 2011 LUXURY fashion brand Jaeger may be put up for sale by owner Harold Tillman, after he received several approaches for the 126-year-old brand. Tillman, who also bought luxury label Aquascutum in 2009, has appointed investment bank Rothschild to consider strategic options for Jaeger, which may include an outright sale worth £100m, according to weekend reports. [...]
