Brewer SABMiller sees revenue growth held back by cold weather July 25, 2013 Brewer SABMiller has announced a trading update for the quarter ended 30 June (release). Group revenue and group revenue per hl both grew by 2% on an organic, constant currency basis Total beverage volumes on an organic basis were level with the prior year Lager volumes on an organic basis declined 1%, with growth in [...]
Osborne and Balls react to faster GDP growth – and both seem to miss the point July 25, 2013 Both chancellor George Osborne and shadow chancellor Ed Balls have weighed in on the second quarter GDP figures. If you have want some analyst reaction, we have that too. Chancellor George Osborne: Britain is holding its nerve, we are sticking to our plan, and the British economy is on the mend – but there is [...]
Analyst reaction: GDP at 0.6 per cent in second quarter July 25, 2013 Howard Archer, chief UK & European economist, IHS Global Insight: The GDP data are very encouraging, not only showing the growth rate doubling to 0.6% quarter-on-quarter but also showing positive contributions from all sectors. While the dominant services sector remains very much key to the economy’s performance, it is important that manufacturing and construction grow [...]
Pound falls as growth doubles to 0.6 per cent in second quarter July 25, 2013 The UK economy is heating up, but it's still pretty cold out there, according to the ONS. GDP grew by 0.6 per cent in the second quarter, up from 0.3 per cent in the first. GDP is still 3.3 per cent below its first quarter 2008 peak, and this figure is in line with average [...]
We should welcome the Church’s foray into lending July 25, 2013 Archbishop Justin Welby's announcement that the Church of England could be going head-to-head with payday lenders like Wonga is good to hear. Rather than limiting the options of consumers, Welby is set to expand the choices that the most vulnerable face. In an interview with Total Politics, the former oil executive has said that he [...]
Spanish unemployment falls for first time in two years – but more than one in four are still jobless July 25, 2013 The Spanish unemployment rate has fallen from 27.16 per cent to 26.26 per cent in the second quarter, according to survey data from the National Institute of Statistics. Economists had been forecasting another rise, to 27.3 per cent, so this is some welcome news. It's the first fall in two years, and the largest since [...]
Before the open – 25/07 July 25, 2013 Today will show whether growth is accelerating in the UK, with second quarter GDP out later. After a limp 0.3 per cent growth in the first quarter, economists are now forecasting that we'll see the economy grew by as much as 0.6 per cent in the second quarter. Asian equities fail to respond to #China’s [...]
Unilever warns of slowing growth in emerging markets and little sign of recovery in North America and Europe July 25, 2013 Consumer goods company Unilever has warned that emerging markets are facing slowdown, as it posts results for the first half of 2013 (release). Growth is slowing in emerging markets, as macro-economic headwinds influence consumer behaviour. Within this overall trend we see a mixed picture across the major countries reflecting different local circumstances. Developed markets remain [...]
Rolls Royce sees profits soar as Airbus A350 takes off July 25, 2013 Rolls Royce has announced pre-tax profits of £840m for the half-year ended 30 June, up £212m the same period last year (release). Excluding Tognum, the German propulsion and energy system specialist (which did not feature in a fully consolidated form in the group's results last year), underlying profit before tax was up by 32 per [...]
BT reports profit and revenues fall in second quarter July 25, 2013 Telecoms company BT has reported a revenues fall of one per cent, down to £4.449bn, for the period from the first quarter to 30 June (release). The biggest revenues fallers were Wholesale (down six per cent) and Global Services and Openreach (both down by two per cent). Profit before tax fell by 16 per cent [...]
