Asia takes the shine off growth at staffing firm Robert Walters October 4, 2012 A SLOWDOWN in hiring in Asia has weighed on recruitment firm Robert Walters’ third quarter results, the company said yesterday. The white-collar recruiter posted an eight per cent rise in net fee income to £13.1m in the UK, only to be overshadowed by a five per cent fall on last year to £24.1m in Asia [...]
British M&A activity drops 30 per cent October 4, 2012 UK mergers and acquisitions (M&A) activity dropped by nearly a third in the last quarter, according to data released yesterday by accountancy firm Ernst & Young. The total value of British deals fell by 28 per cent quarter-on-quarter, more than double the global rate of decline. The figures suggest that as the Eurozone crisis and worldwide [...]
Loophole stops industry from going full speed October 4, 2012 FINALLY, some good news. Not only did car sales improve by more than expected in September, but the gains came mostly through consumer spending rather than corporate sales. But wait – a new car? That’s a pretty luxurious purchase in these straitened times, surely the squeezed middle can’t be cutting back on everything else and [...]
Motor insurers hit by Moody’s October 4, 2012 RATINGS agency Moody’s yesterday said the Competition Commission’s (CC) probe into the UK car insurance industry will negatively impact the credit outlook of major insurers. Firms affected by the announcement include market leader Direct Line, which is due to float on the London Stock Exchange next week. “The CC’s investigation is credit negative because at [...]
Car sales boom above forecast in September October 4, 2012 CAR SALES exceeded expectations in crucial numberplate changeover month September, data from an industry body revealed yesterday. Car registrations were up 8.2 per cent compared to last year, hitting 359,612, the Society of Motor Manufacturers and Traders (SMMT) said, with analysts calling the boost “fantastic” for the car industry. This latest boost meant that 67,515 [...]
US academic: sanctions against Iran prompting hyperinflation October 4, 2012 IRAN is suffering from hyperinflation with prices soaring at a monthly rate of around 69.6 per cent, a senior US economist calculated yesterday. The rial, Iran’s currency, has plummeted since America and the European Union began economic sanctions against the Middle Eastern state due to an ongoing dispute over its nuclear programme. “When a currency [...]
Olympics help Halfords sales pick up speed October 4, 2012 BRITAIN’S success in the Tour de France and in the Olympics boosted sales of cycling gear at Halfords during the summer, helping the retailer to beat forecasts in the second half. Sales at stores open more than a year rose 4.6 per cent in the 13 weeks to 28 September, while like-for-like cycling sales outperformed [...]
Ted Baker boosted by overseas expansion October 4, 2012 TED BAKER posted a 15 per cent rise in first-half revenue yesterday, helped by strong sales in the US as it seeks to grow out of a sluggish European market. Retailers have come under pressure in the face of squeezed consumer spending, muted wages growth and government austerity. But Ted Baker has notched up solid [...]
Pre-pack for United Carpets October 4, 2012 UNITED Carpets yesterday became the latest company to fall victim to tough high street conditions, after it collapsed into administration and warned of store closures where rent reductions could not be agreed. Administrator Begbies Traynor yesterday sold the flooring and beds firm and its 72 stores, through a pre-pack administration to a wholly owned subsidiary [...]
Do Halfords results spell an ongoing improving trend? October 4, 2012 SANJAY VIDYARTHI | ESPIRITO SANTO Halfords has delivered a very strong second quarter sales performance and what is particularly encouraging is that we don’t see this as just a one-off Olympics related boost to bike sales. Other categories, including the important, high margin car maintenance category have also performed better than expected. BETHANY HOCKING | [...]
