UK government launches phone hacking probe July 13, 2011 DAVID Cameron yesterday launched a probe into phone hacking allegations at the News of the World and illegal activities at other newspapers, with the first findings due within one year. The investigation will be formed of two public inquiries, headed up by Lord Justice Leveson, and will start “as soon as possible”, Cameron said. It [...]
Gold surges on QE3 hint and Euro crisis July 13, 2011 GOLD surged to a record near $1,590 an ounce yesterday as the possibility of more Federal Reserve stimulus coupled with Europe’s deepening debt crisis fuelled bullion’s longest winning streak in five years. Bullion’s gains accelerated after Federal Reserve chairman Ben Bernanke said the central bank is ready to ease monetary policy further if the economy [...]
EMPLOYMENT RISES BUT JOBS RECOVERY MAY BE STUMBLING July 13, 2011 EMPLOYMENT rose again in May, official figures revealed yesterday, yet there were worrying signs for chancellor George Osborne that the labour market recovery could be facing a slowdown. While employment rose by 50,000 in the three months to May, this was significantly lower than the 88,000 added in the three months to April, while claims [...]
Jobs abroad snubbed by one in ten July 13, 2011 NEARLY one in ten City workers have declined a job opportunity abroad in the last two years, a survey by Morgan McKinley revealed yesterday. While nine per cent have turned down an opportunity, a further 28 per cent were not at all willing or able to move abroad for their careers. Yet one in five [...]
CITY VIEWS: ARE YOU WORRIED ABOUT UK DEBT? July 13, 2011 DAVE PEARCE | NICOLL CURTIN “It’s exasperating that everyone seems to be talking about it, yet there is no obvious solution. It all seems to be viciously cyclical, the government can’t initiate budget cuts without upsetting someone. But I would rather cuts than increased taxation.” DAVID SHRODER | NICOLL CURTIN “I am, but not enough [...]
M&S gloomy on outlook for retailers July 13, 2011 MARKS and Spencer is seeing its market share grow with sales nudging up but warned of a tough road ahead for the retail sector. Chief executive Marc Bolland said that the freshening up of product lines had fuelled sales growth, with healthy eating ranges proving particularly successful in its food halls. Like-for-like UK sales excluding [...]
ANALYST VIEWS: IS BOLLAND TAKING M&S IN THE RIGHT DIRECTION? July 13, 2011 FREDDIE GEORGE | SEYMOUR PIERCE The statement is relatively reassuring and at this stage management is happy to flag up no change to full-year 2012 forecasts. Trading would have benefited from a reasonably buoyant April helped by the late Easter and royal wedding while May was weak. NICK BUBB | ARDEN M&S is keeping its [...]
Asia boosts Burberry’s first quarter July 13, 2011 SHARES in Burberry leapt to yet another record-high yesterday after the British luxury brand reported a 34 per cent underlying growth in quarterly sales. The fashion house outshone market expectations, posting revenues of £367m for the three months to 30 June, with Asian countries leading the growth. Sales from Burberry’s retail operations, which make up [...]
Wetherspoon in revenue rise July 13, 2011 JD WETHERSPOON reported higher fourth-quarter sales and said an encouraging performance from its recently opened pubs should help it achieve a reasonable full-year outcome, despite rising costs and weaker consumer confidence. The pub company said its like-for-like sales for the 11 weeks to 10 July were 1.6 per cent up, with year to date sales [...]
SuperGroup eyes overseas expansion as profits impress July 13, 2011 SUPERGROUP boss Julian Dunkerton said yesterday the company would consider opening more flagship stores across the globe as it recorded a bumper annual profit. The retailer announced a pre-tax profit for the year to 1 May of £47.3m, up 110 per cent. A highlight of the year for the company was the purchase of a [...]
