Recession takes its toll as Britons find their ability to save eroded June 7, 2010 THE recession has left Britons unable to save, according to new research by unbiased.co.uk. The professional advice website found that savings decreased by £19bn in July 2008 and have not recovered since, figures show that people are saving just over £16bn after falling from £24bn at the end of 2009. Brits are now borrowing 37p [...]
CITY VIEWS: IS SAVING LOWER DOWN YOUR LIST OF FINANCIAL PRIORITIES? June 7, 2010 LEIGH FARRINGDON | QUILTER “Saving was low down on my list as I did not have much money to save. I now want to get back into the habit of saving so that I have money for things like holidays and also in case but also to have extra cash.” WING YUNG CHAN | ACCENTURE [...]
Sunny skies help retail sales in May June 7, 2010 SUNNY weather and preparations for the World Cup helped retail sales rise on a like-for-like basis in May, but nervous consumers are still holding off on purchases of big-ticket items, the latest survey from the British Retail Consortium (BRC) reveals today. On a like-for-like basis, retail sales values rose 0.8 per cent in May on [...]
WHAT IS YOUR OUTLOOK FOR RETAIL SALES IN 2010? June 7, 2010 JAMES KNIGHTLEY | ING “I think it is going to be very tough. We are concerned that real household disposable income is going to be negative this year thanks to flat wages, unemployment and higher taxes. Consumer confidence may also be slipping.” HOWARD ARCHER | IHS GLOBAL INSIGHT “Barring a sustained boost from England winning [...]
Hungary denies it is like Greece June 7, 2010 HUNGARY’S finance minister Gyorgy Matolcsy yesterday said the country would be sticking by its 3.8 per cent of GDP budget deficit target and dismissed comparisons with Greece. Matolcsy yesterday told CNBC that although there were “worrying signs” about the Hungarian budget, “it is blatant that Hungary is not Greece”. He said: “We’ll stick to our [...]
Fiscal reform a priority for Japan’s likely next finance minister Noda June 7, 2010 YOSHIHIKO Noda, the front-runner to be Japan’s next finance minister, announced yesterday that he wanted to set a path for fiscal reform to bring the country’s debt under control. With an upper house election expected in July, Naoto Kan and his new finance minister will be under market scrutiny over how serious they are about [...]
Hitachi hit by UK train doubts June 7, 2010 Shares of Hitachi plunged seven per cent yesterday to 345 yen (260p) after reports that a £7.5bn UK intercity train deal may be cancelled as the new coalition government tries to cut down on spending. There are fears that Philip Hammond, the new transport secretary, may cancel or delay the deal given a spending squeeze [...]
Thai Airways to ask for cash call June 7, 2010 The head of Thailand’s national airline said the country’s political crisis had passed and vowed to press ahead with plans to raise cash from the markets this year. Thai Airways International president Piyasvasti Amranand, a former energy minister, said falling demand after violent protests in the capital would cap the airline’s second-quarter earnings after a [...]
Atos pulls out of RBS unit sale June 7, 2010 French software group Atos Origin has pulled out of a bidding race for Royal Bank of Scotland’s WorldPay payment-processing arm. People familiar with the matter have said that parties interested in WorldPay, which is valued at $4bn (£2.8bn), now include Clayton; Dubilier & Rice; American Express and Permira; Advent International and Bain Capital; Canada’s Moneris [...]
Ocado offers top shoppers share chance June 7, 2010 ONLINE supermarket Ocado has offered its most loyal customers the chance to buy shares if it goes ahead with plans to float on the London Stock Exchange. Chief executive Tim Steiner told customers in a letter yesterday that anyone who has spent £300 with the online grocer this year would be eligible to participate in [...]
