Luxury goods market is braced for a slowdown October 15, 2012 GROWTH in the global luxury goods market is set to slump by more than half this year as Chinese shoppers cut back on spending and tough economic conditions take their toll on consumers in the Eurozone. A report by business consultancy Bain and the Italian luxury goods trade body Altagamma yesterday predicted that sales will [...]
Tattersalls sale attracts wealth of racing fans October 15, 2012 CITY horse racing fans, of which there are no doubt many, may have been following the Tattersalls yearling sale last week with a speculative eye. This was certainly the case for Bernard Kantor of Investec and Martin Hughes of Cheviot Asset Management, who were both spotted at the old auction house. Tatts, by no means [...]
Start a business? Yes you Caan October 15, 2012 BUSINESSMAN, philanthropist and television personality James Caan has flown the Dragon’s nest and is to host his own entrepreneurial-themed show on CNBC. The Capitalist paid a visit to the bearded former Dragon on set at The Business Class studio, ahead of the show’s debut tomorrow evening. When asked the dreaded “how does this programme compare [...]
Incomes rise but Brits save instead of spend October 15, 2012 REAL income levels improved for UK households in the second quarter of the year, according to data released yesterday by the Office for National Statistics (ONS). Yet austerity-minded Britons opted against increasing their spending in light of the extra funds, instead opting to add to their savings. Allowing for inflation, household actual income per head [...]
Construction slump squeezes housing supply October 15, 2012 THE UK construction industry continued to decline in the third quarter of the year and faces more difficult times ahead, according to two gloomy industry surveys released yesterday. Construction output is expected to drop by 6.3 per cent this year and another 1.4 per cent throughout 2013, the Construction Products Association (CPA) said. And the [...]
American consumer comes to the rescue October 15, 2012 THE AMERICAN consumer sprang to life in September, boosting US retail sales and suggesting that the country’s economic recovery could be sustained. Sales were up 1.1 per cent last month, the Census Bureau said – a 5.4 per cent improvement on the same time last year. Separate data measuring the factory activity in New York [...]
Price hikes quicken in India but remain under control in China October 15, 2012 INFLATION shot up to a 10 month high in India last month, official data revealed yesterday, worrying policymakers and denting the emerging economy’s prospects. Yet in neighbouring China, inflation eased further, stoking expectations of further stimulus from its monetary authorities. Indian inflation rose to 7.8 per cent in September, driven up from August’s level of [...]
Energy is biggest consumer worry October 15, 2012 UK consumers rate rising energy prices as the biggest threat to their household finances in the coming 12 months, a YouGov poll suggested yesterday. Households rated energy prices 7.8 on average – on a scale of one to 10, where 10 is the biggest impact on household finances – followed by unemployment at 7.4 and inflation [...]
France calls for food reserves October 15, 2012 French agriculture minister Stephane le Foll yesterday said strategic food reserves ought to be set up to smooth food prices in vulnerable countries, claiming that recent high prices mean the market has failed to self-regulate. But le Foll said France was unlikely to reach a deal soon on implementing the idea, since many countries stood [...]
Academic says cuts overstated October 15, 2012 The coalition is overstating its austerity programme in a bid to convince the bond markets that the cuts are working and the public that tough measures are needed, one academic argues in a paper out yesterday. Spending as a proportion of GDP is set to fall due to overly optimistic growth forecasts, Anthony Evans at [...]
