Consumer spending expands at the fastest rate since 2009 October 4, 2012 YEARLY consumer spending growth returned in September, according to data that Visa collects from use of its cards. Spending jumped at its fastest rate since May 2009, growing three per cent between August and September. And this upturn, after August’s 1.2 per cent monthly growth, pushed consumption into positive territory for the year as a [...]
UK profits creep down October 4, 2012 UK COMPANIES made slightly smaller returns in the second quarter of the year, data from the Office for National Statistics showed yesterday. Private non-financial corporations had a net rate of return of 12.7 per cent between April and June, down from 12.9 per cent between January and March, the statistics showed. The decline came from [...]
Was the bank of England right to hold rates? October 4, 2012 CRAIG HARRINGTON JP MORGAN “I think rates should be set as low as possible. Anything that tries to stimulate growth and get us moving is a good thing.” GAVIN CLARKE FINANCIAL SERVICES CONSULTANT “The last thing we want to do is encourage more borrowing, but a raise may stifle growth. We’ve got to invest in [...]
Food prices back on the rise October 4, 2012 Food prices increased in September, according to data from the Food and Agriculture Organisation (FAO), part of the United Nations, released yesterday. World prices were up 1.4 per cent compared to August, the FAO’s index, which follows a basket of internationally traded goods, showed. But the index is still well below its peak in February [...]
Finance training helps families October 4, 2012 Providing financial education to badly off households could have benefits worth £36m, according to a study whose results were released by Santander, Citizens Advice and the University of Bristol today. Seventy-eight per cent of study participants changed their spending behaviour after receiving financial training, delivering on average £10 per week to each family.
Pace of arrears growth slows October 4, 2012 The number of tenants in severe arrears continued to grow in the third quarter, data from Templeton LPA revealed today, but at a reduced rate. Compared to the second quarter, 1.6 per cent more tenants were deep in arrears in the third quarter, well down on the 4.6 per cent quarterly increase between the first [...]
Unrest spreads across Amplats’ mines as African crisis deepens October 4, 2012 LABOUR unrest has spread to Anglo American Platinum’s Kumba iron ore unit in South Africa, as around 300 striking miners downed tools. Amplats has declared the strike illegal and is talking to the workers to encourage them back to work. Kumba’s Sishen mine produced nearly 40m tonnes of iron ore in 2011. Amplats yesterday reassured [...]
Evraz buys stake in Russian firm October 4, 2012 Russian steelmaker Evraz yesterday announced it has bought a controlling stake in Raspadskaya, Russia’s largest coking coal firm. London-listed Evraz has bought a further 50 per cent interest in Corber, from Adroliv Investments Limited, which holds an 82 per cent interest in Raspadskaya. The remaining 18 per cent of Raspadskaya’s shares will remain listed on [...]
Atlantic Coal reports output jump October 4, 2012 AIM-listed Atlantic Coal said yesterday that coal output at its Stockton mine in Pennsylvania rose to by 130 per cent to 44,633 tons, from 19,424 tons last year, in the three months to September. The anthracite coal miner reported a 38 per cent increase in clean coal sold year on year to 33,336 tons, from [...]
Increased revenue at Norcros October 4, 2012 Shower maker Norcros said yesterday group revenue in the six months to September had grown 9.4 per cent to £106m, up from £102.4m over the first half of last year. In a trading update, it said underlying pre-tax profit is expected to come in at £5.9m, up from £5.4m in 2011. Its Johnson Tiles brand [...]
