Hague told UK firms are trying to boost jobs May 16, 2012 WILLIAM Hague was told last night that businesses are doing all they can to grow the economy – and do not need the government to “crack the whip”. Sir Roger Carr, president of the CBI, told guests at the organisation’s annual dinner that “there are no whinging businessmen here” only “engaged and positive people advocating [...]
New Greek PM greeted by fear over ECB funds May 16, 2012 A CHANGE to the liquidity support offered to Greek banks by Brussels prompted more worries over the future of the Eurozone yesterday, while the troubled Mediterranean state announced that its emergency government would be headed up by a judge until fresh elections on 17 June. Greek President Karolos Papoulias named council of state head Panagiotis [...]
EU consumers cut back on cars May 16, 2012 INFLATION stayed high in the Eurozone in April, official figures showed yesterday, while manufacturing took a blow from plummeting car registrations. Consumer prices rose 2.6 per cent in the Eurozone in the year to April, according to Eurostat. The figure is down slightly on the 2.7 per cent in the previous month, but still well [...]
DO YOU THINK GREECE WILL LEAVE THE EUROZONE? May 16, 2012 EDUARDO DE SOUZA COMMERZBANK No. I think politicians will stand up and there’s still a solution. There have been some steps made already by Merkel and Hollande and there’s a possibility for Greek politicians to agree on something. JOHN FARNSWORTH NOBLE Probably. The Greeks want to stay in but they don’t want the austerity measures. [...]
Spain to calculate property exposure as auction looms May 16, 2012 THE Spanish government is today expected to appoint independent firms to assess the true valuation of its real-estate exposure in a last-ditch bid to address concerns over the health of its banking sector. Oliver Wyman and BlackRock will compare the book value of loans to their market value as well as their potential value if [...]
Alliance Boots chair: UK is not pro-business May 16, 2012 ALLIANCE BOOTS’ executive chairman yesterday praised the coalition’s “friendly” attitude to business but warned that broader “anti-business” public environment could drive companies away. The drugs company and owner of Boots the chemist, moved its headquarters to Switzerland shortly after Stefano Pessina and private equity firm Kohlberg Kravis Roberts took the group private in in 2007 [...]
Winning formula of a high street chemist May 16, 2012 WHEN I was growing up in south east London in the 1990s, there was very little in the way of decent shops on the nearby Penge high street. The proliferation of betting and pound shops, which would eventually blight most shopping precincts, was already well-advanced. There were just a few of the chains that you [...]
Clintons set to shut 350 shops May 16, 2012 CLINTON Cards will close 350 stores across the UK, leading to the loss of 2,800 jobs, administrators Zolfo Cooper revealed yesterday. The high street retailer entered administration on 9 May after defaulting on loan repayments. Zolfo Cooper yesterday said Clinton Cards is “burdened with an untenable retail estate” and 350 of its 784 stores nationwide [...]
John Lewis ups sales outlook May 16, 2012 JOHN Lewis, the UK’s biggest department store, yesterday raised sales guidance after outperforming a flat retail market in its first quarter and said the economy is on course for a slow recovery, despite a recent dip back into recession. In the quarter to 28 April the group saw sales growth of 12.2 per cent, equal [...]
Matalan posts solid results May 16, 2012 BUDGET fashion and homeware retailer Matalan defied the retail gloom to post a 1.9 per cent rise in full year sales to £1.1bn. The company said despite “solid” results, margins were hit by discounting, VAT increases, and its decision not to pass on higher input prices to customers. Earnings before interest, tax, depreciation and amortisation [...]
