US private sector firms add to staff count in May June 3, 2010 PRIVATE sector firms in the US took on 55,000 more staff in May down from an upwardly-revised 65,000 in April, the ADP payroll survey revealed yesterday. Analysts were disappointed as they has expected a gain of around 70,000. Ian Shepherdson at High Frequency Economics said: “The survey has undershot the official private payroll numbers in [...]
Eurozone hit by sharp drop in retail sales June 3, 2010 EUROZONE retail sales fell sharply in April, missing expectations for a small monthly rise, data showed yesterday, as uncertainty over jobs and government spending curbed consumer demand. The European Union’s statistics office said Eurozone retail sales, a good indication of households’ propensity to spend, fell 1.2 per cent month-on-month, the deepest fall since October 2008, [...]
CITY VIEWS: WHAT DO YOU THINK WILL HAPPEN TO TAKE HOME PAY THIS YEAR? June 3, 2010 DAVID HAYES | WILLIS “Pay will basically remain stable. Some areas might see an increase and certain sectors will see a reduction. A lot of companies are looking to keep costs down to avoid having to cut staff numbers, which means a freeze on pay.” HUGH MASTIN | BARCLAYS GLOBAL INVESTMENT “Take home pay has [...]
US MULLS INTEREST RATE HIKE June 3, 2010 Kansas City Federal Reserve Bank president Thomas Hoenig yesterday said that the central bank should raise rates to one per cent by the end of the summer to avoid having to raise borrowing costs abruptly as the economic recovery gains momentum. His board colleague Dennis Lockhart also said that the US economy is almost strong [...]
Nielsen gears up for listing June 3, 2010 NIELSEN plans to raise up to $1.75bn (£1.2bn) in an initial public offering, becoming the latest private-equity backed company to sell shares into a fragile market. Nielsen is best known for its viewership ratings, which often determine the fate of TV shows. Its top 10 clients – who account for about 23 per cent of [...]
UBS tax deal inches closer June 3, 2010 A Swiss-US deal to end a tax dispute that nearly crippled UBS and undermined Swiss bank secrecy inched closer to full parliament approval as the Swiss upper house gave it its backing yesterday. The deal is yet to be approved by the parliament’s lower house, which will vote on it next week. Yet the chances [...]
UK retailers set to net £126m per goal in World Cup June 3, 2010 UK retailers could net a £126m sales boost for every England goal scored after the group stages of the World Cup, according to research yesterday. The extra sales of sportswear, TVs and food could top £2bn if England reaches the final, according to a report by the Centre for Retail Research (CRR). Retail sales are [...]
Quintain confident as losses shrink and NAV slide slows June 3, 2010 PROPERTY developer Quintain Estates yesterday posted a 1.5 per cent annual fall in the value of its assets, narrowed its losses and said it was in a better financial position to proceed with its growth plans. Quintain said adjusted diluted net asset value (NAV) per share at the end of March fell to 133p, from [...]
Helical says profits will double in 2011 and 2012 June 3, 2010 COMMERCIAL property company Helical Bar expects to double its after-tax profit in both 2011 and 2012 and anticipates spending £150m on acquisitions next year. Chief executive Michael Slade said yesterday he expected Helical, which posted an after-tax profit of £9.6m for the year to the end of March, to earn £20m or more after tax [...]
Johnson & Johnson looks to medical device business June 3, 2010 JOHNSON & JOHNSON (J&J) sees its medical device sales growing faster than the industry through 2014 and plans about 80 “significant” regulatory submissions for its largest unit in the next two years. J&J outlined its growth plans for the medical device business – its top product category with annual sales of $25bn (£17bn) – as [...]
