It’s official: UK GDP finally back above pre-crisis levels Preliminary data has confirmed what almost everyone expected: UK output is finally back above its pre-crisis levels. A consensus poll of analysts expected to see that GDP had risen by 0.8 per cent in the second quarter of 2014. Today's preliminary estimate, from the Office for National Statistics (ONS), sees the UK economy growing at [...]
RBS share price jumps 10pc on bumper profits: But boss cautions on “bumps in the road” ahead State-backed bank RBS has today cautioned investors on the level of returns it expects to make. In a regulatory filing the bank's chief executive, Ross McEwan, said that the lender is "actively managing down a slate of significant legacy issues". Sounding a note of caution, McEwan said that RBS faces "significant conduct and litigation issues [...]
Royal Mail chairman: Bike deliveries are now thing of the past Royal Mail's message to posties at today's AGM? Off your bikes! Chairman Donald Brydon has told shareholders that bike deliveries for Royal Mail will now be a thing of the past, as they're not considered efficient for modern parcel sizes. Shareholders voted through all resolutions at the AGM with at least 90 per cent approval, [...]
UK retail sales see strongest calendar increase in a decade July 24, 2014 Headline retail sales growth in June was markedly softer than expected, according to official estimates released today. Office for National Statistics (ONS) figures saw overall retail sales up by just 0.1 per cent in the month, lower than the 0.3 growth anticipated by an analyst poll. Excluding fuel, retail sales dropped by 0.1 per cent [...]
Kingfisher share price falls as World Cup distracts DIY shoppers July 24, 2014 Shares in B&Q owner Kingfisher have fallen by more than 7.3 per cent in early trading, after the company reported falling like-for-like sales and the acquisition of French DIY brand Mr Bricolage. Chief executive Sir Ian Cheshire said that second quarter trading "was always expected to be more difficult", and that markets "have been slower [...]
Unilever share price drops on weak emerging markets and food sales growth July 24, 2014 Challenging markets in the first half of the year have seen Unilever sales growth come in soft, despite launching a number of recent product launches. The addition of the Ben & Jerry's Core ice cream range, and innovations in compressed deoderants and oral hygiene ranges haven't been enough to generate the sales growth analysts were [...]
Carney upgrades UK economy from World Cup contender to marathon hopeful July 23, 2014 Bank of England governor Mark Carney has yet again updated his sporting metaphors. Choosing to ditch England's World Cup chances as an analogy for the UK economy, today the central bank chief has decided to deploy an ancient event – the marathon – to capture the performance of UK plc. Speaking in Glasgow on the [...]
Hawk in the nest: BoE minutes reveal at least one member now sees lower risk of rate hike harming recovery July 23, 2014 The minutes of the Bank of England's reveal that no member of the UK's interest-rate setting committee voted to change policy this month. Members of the monetary policy committee (MPC) voted 9-0 against a change in policy. For some on the MPC, it's their first time voting – and analysts didn't expect to see any [...]
Capita’s bid pipeline swells to record £5.7bn as private sector strengthens July 23, 2014 Outsourcing company Capita has announced a total of £1.3bn of major contract wins in the first half of this year, as its major contract win rate has exceeded 66 per cent. Chief executive Andy Parker says that the firm's financial results have been "good", describing the start to the year as "an excellent sales period" [...]
Strong manufacturing survey allays fears over output slowdown July 22, 2014 While the headline reading of the latest Confederation of British Industry (CBI) manufacturing survey looks weak, analysts are convinced that it paints a glowing picture of the UK's manufacturing sector. After official estimates showed manufacturing output took a tumble in May, economy watchers have voiced concerns that the roaring expansion in the sector may be [...]
