Non-food to drive growth at Sainsbury’s November 11, 2009 J SAINSBURY has pinned its growth hopes on a bold expansion of its non-food offering, with plans to take on market leaders Tesco and Asda in larger-format stores. Unveiling a robust 18 per cent rise in first half profits to £307m yesterday, chief executive Justin King outlined a £2bn expansion programme for the next two [...]
Reassurance on UK growth boosts the blue chip index November 11, 2009 BRITAIN’S top share index closed higher yesterday, as risk appetite received a boost after reassuring signals on the UK economy, and with miners the biggest gainers after a jump in Chinese factory growth. The FTSE 100 index ended 36.20 points higher, or 0.7 per cent, at 5,266.75, having touched a high of 5,301.14 earlier in [...]
China data pulls up Dow and S&P 500 November 11, 2009 THE Dow and the Standard & Poor’s 500 index closed at 13-month highs last night as an upbeat forecast from a top homebuilder and data from China pointed to a strengthening global economy. The Dow’s advance was its sixth straight as comments from top Federal Reserve officials suggesting low interest rates will stay for some [...]
MARTHA LANE FOX ON SIDE FOR CITY LADIES November 11, 2009 WOMEN who’ve made it to the top in business are creatures all too rare, even in this day and age, so it’s refreshing to find someone who’s willing to put her cards on the table when it comes to supporting the fairer sex. Martha Lane Fox – government digital inclusion champion and co-founder of lastminute.com [...]
ON THE MEND (OR SO KING HOPES) November 11, 2009 THE BANK of England hiked its growth forecasts for the next three years yesterday in its clearest signal yet that it believes the UKeconomy is finally on the mend. The Bank’s new central projections are for output to grow by 2.1 per cent next year and by four per cent in 2011, based on market [...]
Don’t expect a return to the boom years November 11, 2009 OPTIMISM is back in fashion at the Old Lady of Threadneedle Street. It is always tricky to work out what the Bank of England is talking about in its Inflation Reports so I’m grateful to George Buckley, chief UK economist at Deutsche Bank, for his help in trying to decipher the relevant graphs. The Bank’s [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 11, 2009 FINANCIAL TIMES BLUECREST TO RELOCATE 50 STAFF TO GENEVABlueCrest Capital, one of the UK’s largest hedge funds, is moving a significant portion of its operations to Geneva amid growing concerns about London’s status as a centre for alternative asset managers. Founded in 2000 by former JPMorgan traders Bill Reeves and Mike Platt, the $15.5bn firm [...]
LEST WE FORGET November 11, 2009 STAFF at Lloyd’s of London gathered yesterday to pay their respects to fallen soldiers on Armistice day. Lloyd’s chairman Lord Levene and the Lord Mayor of London laid wreaths. The Lutine Bell in Lloyd’s underwriting room, where the service was held, was rung to mark the two-minutes silence.
BA Iberia merger set for takeoff November 11, 2009 British Airways and Spanish airline Iberia could announce a long-awaited merger agreement as early as this week, Sky News reported last night. It said the two parties were gearing up for a deal to be announced by tomorrow. BA refused to comment, saying only that talks with the carrier, which started over a year ago [...]
Barrick says gold is shining high November 11, 2009 Barrick Gold, the world’s biggest gold producer, sees potential for record margins in the fourth quarter as gold prices hit new peaks and costs are stable or lower, its chief financial officer said yesterday. “At a gold price now over $1,100, we should be looking at record margins, provided the gold price stays high,” Jamie [...]
