Falling inflation prompts hopes for more ECB interest rate cuts May 29, 2012 PRICE rises slowed again in April across the OECD, new figures showed yesterday, while government data also pointed to lower price pressures across Germany in May. Slowing energy price rises are the largest contributor, and economists believe this gives the European Central Bank (ECB) more room to loosen monetary policy further if it wants to [...]
Spanish retail sales plummet at record pace May 29, 2012 THE SPANISH economy took another huge blow as retail sales plunged at record speed in April, official figures showed yesterday, as the recession continues to bite. Spanish retail sales were down 9.6 per cent in April compared with the same month of 2011 – the 22nd consecutive drop and the largest fall ever, according to [...]
CHINA MAY NOT SAVE THE WORLD AGAIN AS MACRO DATA CONTINUES TO FADE May 21, 2012 SUNDAY night, as currency markets were preparing for yet another desultory opening of the week’s trade, marked by yet more stress in the Eurozone and a seemingly perfunctory statement from the G8 which was long on platitudes and short on any concrete policy measures, risk currencies did something unexpected – they rallied. Despite the gloom [...]
Mitchells & Butlers profits fall May 18, 2012 Restaurant and pub group Mitchells & Butlers has reported a dip in profits as the rising cost of food and fuel undermined rising revenues. The owner of chains including Harvester, All Bar One and O’Neills, which earlier this year faced a shareholder revolt over management and ownership issues, gave scant details on its search for [...]
The MPC has put its incompetence on public display May 16, 2012 THE latest inflation report from the Bank of England (BoE) makes it clear that the credibility of the Monetary Policy Committee (MPC) has been undermined further. The relatively sharp upward revision to CPI inflation forecasts out to the third quarter of 2013 is now rather more realistic, but that realism is tainted by the scepticism [...]
FTSE lurches higher after a volatile day of bank and commodity swings May 10, 2012 A BOUNCE back by risk-sensitive banks and commodity stocks hauled Britain’s stock index higher yesterday after a roller-coaster session, with worries over the global growth outlook easing following benign US jobless claims. At the close, the FTSE 100 index was up 13.90 points, or 0.3 per cent at 5,543.95, holding above key technical support at [...]
Food price inflation slows as world commodities spike ends May 7, 2012 PRICE pressures on consumers eased in April as food price inflation slowed sharply and non-food prices fell for the third consecutive month, industry data showed today. Food prices were 4.3 per cent higher than in the same month of 2011, down from the 5.4 per cent rise recorded in March, according to the British Retail [...]
Waitrose and budget stores winning sales April 24, 2012 UK CONSUMER habits are becoming increasingly divided, accordingly to new retail data that shows higher-end and budget retailers growing market share while those occupying the middle ground lose out. Kantar Worldpanel figures for the 12 weeks to 15 April 2012 showed upmarket supermarket Waitrose increasing market share from 4.3 per cent to 4.5 per cent [...]
AB Foods given lift by Primark and sugar arm April 24, 2012 ASSOCIATED British Foods yesterday forecast a significant rise in full year profits, fuelled by its Primark chain and sugar business. The food and retail group said earnings in the six months to 3 March rose by five per cent with higher sugar prices giving the FTSE 100 group momentum. The company, whose brands include Silver [...]
RAPID responses April 22, 2012 Not so negative [Re: Hedgies march out of Mayfair as property costs bite, Tuesday] It’s worth noting that, due to the long lease terms and notice periods associated with conventional office leases, many hedge funds probably decided to leave over a year ago. We own and operate 17 serviced office buildings in the West End. [...]