William Sinclair hit by record rain October 2, 2012 British gardening supplies group William Sinclair warned yesterday that it will miss market expectations for the year after record summer rainfall played havoc with the peat harvest. But the firm said its performance in the year to September 2012 was badly affected by unprecedented weather conditions and is not a reflection of its long-term business [...]
Burrito chain’s stock hit by the Einhorn effect October 2, 2012 SOME people barely need to open their mouths to inspire investors to sell, sell, sell, as proved by US hedgie David Einhorn, who was making waves in the stock market again yesterday as he told a crowd at the Value Investing Congress he was betting against burrito chain Chipotle. Einhorn – who spent last year’s [...]
Spend today’s lunch hour with Ryder Cup winner Sam Torrance October 2, 2012 FOLLOWERS of Team Europe’s winning play during the Ryder Cup are in for a treat today – City A.M. columnist and multiple Ryder Cup-winning golfer Sam Torrance has penned a tome covering his career as sportsman and media commentator, and will be in town signing copies. Torrance will be on hand to personalise Out of [...]
Builders suffer another month of contraction October 2, 2012 THE CONSTRUCTION industry was unable to pull itself out of its torpor in September, according to data released yesterday, which showed another gloomy month of decline. The headline purchasing managers’ index (PMI) – based on a business survey – edged up 0.5 to 49.5, but this was still below 50, thus indicating continued contraction. In [...]
Nationwide survey reveals fall in house prices for September October 2, 2012 HOUSE PRICES slipped in September, according to Nationwide’s house price index, released yesterday, adding weight to other studies showing downturn during last month. The average house price fell 0.4 per cent over the month, after the 1.1 per cent gain seen in August, and contributing to the overall 1.4 per cent fall seen over 12 [...]
Heavy discounts on clothing helps lower shoppers’ costs October 2, 2012 SHOP PRICE inflation slowed down in September, data from the British Retail Consortium (BRC) and Nielsen showed yesterday, driven by falling prices for non-food goods. Overall, shop prices were up one per cent in September compared to the same month in 2011, whereas in August prices were up 1.1 per cent on the year before. [...]
OECD says inflation becoming faster in developed countries October 2, 2012 INFLATION edged up across the OECD group of developed economies, according to data released yesterday, with upward pressure from fuel and downward pressure from food. Inflation was two per cent in the year to August, the OECD said, up from 1.9 per cent in the year to July. This was driven by a boost in [...]
Industrial pressures could see ECB postpone interest rate cut October 2, 2012 EUROZONE industrial inflation shot up in August, data released by Eurostat yesterday showed. This jump could endanger European Central Bank (ECB) easing plans, analysts suggested. Howard Archer at IHS Global Insight sent out a note entitled: “Sharp rise in Eurozone producer prices in August tilts odds further against ECB interest rate cut on Thursday.” But he [...]
Wealthy property investors see London as favourite location October 2, 2012 INTERNATIONAL residential property investors are honing in on London, their favourite destination for investment, a survey from Cluttons revealed today. Fifty-seven per cent of respondents told Cluttons that London was their top investment target location – especially investors located in Dubai, Bahrain, Kuala Lumpur and Singapore. And investors are looking to get into property markets, [...]
Australia eases monetary stance October 2, 2012 Australia’s central bank yesterday slashed interest rates down to a three-year low, as worldwide slowdown hit the Australian economic climate. Rates were cut 25 basis points to 3.25 per cent, which drove the Australian dollar down half a US cent, as markets had not fully priced in the movement. Australian central bank governor Glenn Stevens [...]
