Tesco beats volcano with record profits April 20, 2010 TESCO yesterday reported record pre-tax profits of £3.2bn – while escaping the impact of the volcanic ash crisis because so little of its produce is imported by plane. The company saw its net profit up 10.4 per cent up on the previous 12 months. The supermarket giant said the reason for the gains included an [...]
CITY BOSS JOINS BEAR GRYLLS ON ARCTIC TRIP April 11, 2010 IT ISN’T every day that a financier gets to ditch his day job for a few weeks and sail off into the sunset for the adventure of a lifetime with a self-confessed adrenaline junkie. Then again, how many City financiers can count Bear Grylls – the skydiving, creepy crawly-munching, elephant piss-drinking star of Channel 4’s [...]
BRC: Food price inflation slumps in March to its lowest level in three years April 6, 2010 FOOD price inflation fell to its lowest level in three years last month, according to the latest data published by the British Retail Consortium (BRC) today. The BRC said that food price inflation was just 1.2 per cent in the year to March – down from 1.3 per cent in the year to February, despite [...]
The euro is due a respite after a very hard winter April 6, 2010 THE EURO’S winter of discontent started back in January when a huge hole in Greece’s public finances was revealed. Since then allegations of dodgy accounting rules, swap trades with major Wall Street banks and the threat of contagion to other southern European economies has driven the euro to multi-year lows. But has the euro been [...]
Eurozone jobless rate hits 10pc March 31, 2010 THE Eurozone’s unemployment rate hit double digits in February and is expected to continue rising beyond its 11-and-a-half year high of 10 per cent in the coming months. The number of jobless in the 16-country area rose by 61,000 in February, taking the total number of unemployed across the region to 15.749m. The pace of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 30, 2010 FINANCIAL TIMES M&A SURGE IN ASIA WHILE THE US AND EUROPE SUFFER Mergers and acquisitions boomed in Asia in the first quarter in sharp contrast to a slump in deal volume in Europea and the US, underlining a global shift in activity in the wake of the credit crisis. The value of global M&A overall [...]
Inflation dips for first time in five months March 23, 2010 The headline rate of inflation slowed in February for the first time since September, raising hopes that inflation has now peaked. Utility price cuts and a slower rise in food prices helped to send the Consumer Prices Index (CPI) back down to three per cent in February, official data published yesterday revealed. In January, it [...]
UK inflation rate drops March 23, 2010 THE headline rate of inflation last month slowed for the first time since September, raising hopes that the figure has reached its peak. Utility price cuts and a slower rise in food prices helped to send the Consumer Prices Index (CPI) back down to three per cent in February. In January it soared to a [...]
US data indicates upturn March 18, 2010 The US economy is on a moderate growth path and inflation pressures are contained, data showed yesterday. Initial claims for state unemployment benefits fell 5,000 to 457,000 last week, the US Labour department said, suggesting the jobs market was improving, but only gradually. In another report, the department said the Consumer Price Index was unchanged [...]
Fizzy drinks ousted by mineral water in ONS inflation gauge March 15, 2010 Canned fizzy drinks are out and small bottles of mineral water are in, according to the Office for National Statistics (ONS) in its latest annual rejig of the “shopping basket” of goods it uses to calculate inflation. The ONS has also ditched pitta bread in favour of garlic bread and included cereal bars in the [...]