Carphone ups profit target January 19, 2010 CARPHONE Warehouse yesterday upped its full-year forecasts for the second time in a matter of months after strong trading at both its retail and broadband arms during the third quarter. The FTSE 250 group, which is splitting into two businesses in March, says earnings per share to the end of March are likely to be [...]
Chaucer considers quitting London to reduce its tax bill January 19, 2010 One of the City’s last remaining Lloyd’s insurers is considering quitting the capital in order to cut its tax bill. Chaucer Holdings is looking for an alternative location overseas that could offer the company a lower tax take than the UK. “It’s on our list of items to look at this year,” chief executive Robert [...]
Shareholders in Cadbury to chew on offer January 19, 2010 CADBURY shares closed 3.6 per cent up at 836.5p yesterday after US food group Kraft announced its £11.7bn takeover bid had been recommended by the board. Under the offer, Cadbury investors will receive 500p and 0.1874 new Kraft Foods shares for every share, plus a special dividend of 10p. Shareholders have until 2 February to [...]
Oil prices and tax cuts fuel inflation leap January 19, 2010 THE annual rate of inflation accelerated in December at record pace, raising concerns that the Bank of England may feel compelled to raise interest rates sooner than expected. The consumer prices index on an annual basis jumped one per cent in December to 2.9 per cent, fuelled by a jump in oil prices compared to [...]
Darling: deficit cut is priority January 19, 2010 PEOPLE should be in no doubt about the government’s commitment to reduce borrowing, chancellor Alistair Darling said in an interview published yesterday. He said: “The priority though must be to get our borrowing down, because to be borrowing £178bn is something you need to get down, you need to reduce it and you need to [...]
US housebuilders gloomy as job market woes weigh January 19, 2010 CONCERNS about the poor job market and a further wave of home foreclosures depressed the confidence of US housebuilders in early January, an industry trade group reported yesterday. The home builders’ sentiment index declined to 15 in January from 16 in December, the National Association of Home Builders reported. The index, now at the lowest [...]
Eurozone ministers call for greater G20 presence January 19, 2010 TOP European policymakers stepped up calls last night for the Eurozone to be given greater political clout at future G20 meetings. After a meeting of the Eurogroup, which comprises Eurozone finance ministers, the group’s leader Jean-Claude Juncker said the G7 is being overshadowed by the G20, where the eurogroup is not represented. “The Eurogroup has [...]
Europe’s economy still showing signs of weakness as construction suffers January 19, 2010 THERE were further signs that the Eurozone’s economy is not out of the woods yet after construction output in Europe fell to its lowest level for a decade and investor confidence in Germany was weaker than expected. Activity in the construction sector fell by eight per cent in the 12 months to November after property [...]
CITY VIEWS: HAVE YOU NOTICED THAT CONSUMER PRICE INFLATION HAS INCREASED? January 19, 2010 JONATHAN RANDLE | PTS CONSULTING “Not particularly. In my general shopping I haven’t seen any difference, though I’m quite frivolous with my money anyway. Inflation is something I expect to see going forward, when quantitative easing is reversed. I sold my car to get a cheaper one earlier this year, to save a bit of [...]
Rich pickings for Burberry as sales boom January 19, 2010 BURBERRY sales soared by 12 per cent in the three months to the end of the year – confounding City forecasts. The company took £380m in revenue over the period as it dropped unprofitable lines and kept a tighter control on stock. Wholesale revenue – which comes from department stores that stock the group’s trademark [...]
