Burberry beats forecasts July 13, 2011 Burberry posted first-quarter sales slightly above forecasts as it raised expectations for its wholesale operations, bolstered by the Americas, emerging markets and travel retail. The British maker of raincoats and leather goods, identifiable by their camel, red and black check pattern, said Wednesday that revenue rose 34 per cent on a comparable basis to £367m, [...]
SuperGroup profit up 89pc July 13, 2011 Fast-growing fashion retailer SuperGroup posted an 89 percent rise in annual profits and saw room for further growth this year. SuperGroup, whose Superdry clothes are a favourite of celebrities such as David Beckham and Leonardo DiCaprio, said on Wednesday that it made an underlying pre-tax profit of £50.2m in the year to 1 May. The [...]
M&S sales rise bucks grim retail trend July 13, 2011 Retailer Marks & Spencer met forecasts with a seventh consecutive rise in underlying quarterly sales, as its older and more affluent customers cope better with a squeeze in disposable incomes. Britain’s biggest clothing retailer, which also sells homewares and upmarket foods, said Wednesday sales at UK stores open over a year, excluding VAT sales tax, [...]
Media is failing public in many ways July 13, 2011 WITH the phone hacking scandal continuing to grow, and the reputation of journalists at their lowest ebb since the death of Diana, now seems like a good time to add to the media’s woes. A poll out today reveals what can only be described as another mini-scandal, this time relating to the media’s ability to [...]
Europe fiddles as Rome burne July 12, 2011 AS MARKETS swung violently on the fear of an Italian debt crisis yesterday, Europe signed a treaty to establish a permanent €700bn (£615bn) bailout fund – but only from 2013 onwards. While Eurocrats and ministers have spent months tweaking the details of the treaty, markets are focused on the more immediate threat of sovereign default [...]
Public in dark on UK debt July 12, 2011 Fewer than one in ten people understand that the government is adding hundreds of billions of pounds to the national debt over the course of this parliament, a shocking new survey reveals today. Just nine per cent of respondents realise that the government plans to borrow roughly an extra £350bn from this financial year to [...]
US Fed is split over fresh QE July 12, 2011 A THIRD period of quantitative easing – dubbed QE3 – could be in the pipeline if the US economy continues to stagnate, the minutes of the last Federal Reserve monetary policy meeting revealed last night. “Some participants” believed that “it would be appropriate to provide additional monetary policy accommodation” if the economy fails to pick [...]
Media is failing public in many ways July 12, 2011 WITH the phone hacking scandal continuing to grow, and the reputation of journalists at their lowest ebb since the death of Diana, now seems like a good time to add to the media’s woes. A poll out today reveals what can only be described as another mini-scandal, this time relating to the media’s ability to [...]
Plan aired to avoid default July 12, 2011 REPUBLICAN Senate leader Mitch McConnell floated a “last choice” back-up plan for the US debt ceiling crisis late last night. McConnell’s emergency plan would see President Barack Obama forcing through a hike in the debt ceiling, without requiring the consent of Republicans. The announcement was intended to reassure markets that the US would not default [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 12, 2011 FINANCIAL TIMES MANAGERS STRUGGLE TO WOO THE WEALTHY Private banks across the world are still struggling to attract new clients, as the wealthy continue to shun professional investment managers in the wake of the financial crisis, according to a report published today. New money paid into private banks by clients fell nearly 19 per cent [...]
