Early xmas deals boost retail sector November 17, 2011 Early pre-Christmas promotions gave a surprise lift to British retail sales in October, driving up volumes at their fastest pace since June, official data showed on Thursday. The Office for National Statistics said sales volumes including automotive fuel rose 0.6 per cent last month after a 0.5 per cent rise in September and confounding forecasts [...]
Supermarket price war dents inflation November 15, 2011 CONSUMER price inflation in the UK dropped slightly in October, figures out yesterday from the Office for National Statistics (ONS) revealed, though it remains well above the Bank of England’s target. Headline CPI inflation fell from 5.2 per cent in the year to September to five per cent last month. A 0.9 per cent fall [...]
FTSE falls as Eurozone fear factor hits banks November 15, 2011 The FTSE edged down this morning, mirroring weaknesses in Asia, as rises in bond yields in Spain and Italy heaped more pressure on markets. Italy sold three billion euros of five-year bonds at 6.29 per cent yesterday – a euro-era record. The country’s 10-year bond yields rose to 6.76 per cent, also pushing Spanish 10-year [...]
Inflation falls more than expected November 15, 2011 Inflation in Britain eased more than forecast to five per cent in October, official data showed on Tuesday, lending support to Bank of England expectations that inflation has probably peaked and will fall sharply next year. Consumer prices rose 0.1 per cent last month, taking the annual inflation rate down to five per cent from [...]
No shift from MPC in face of euro woes November 10, 2011 INTEREST rates and the asset purchase programme (QE2) were both held steady in yesterday’s Bank of England Monetary Policy Committee (MPC) meeting. October’s meeting saw the MPC expand its asset purchase programme by £75bn in an effort to boost the economy in the face of a worsening European outlook. Governor Mervyn King (pictured, right) had [...]
Slowing Chinese inflation opens door to more fiscal and monetary stimulus November 9, 2011 CHINESE industrial output grew at its slowest rate for a year and inflation fell sharply in October, statistics from the country’s National Bureau of Statistics showed yesterday. Consumer price inflation fell to 5.5 per cent, down from 6.1 per cent in September and well below July’s three-year peak of 6.5 per cent. Inflation in producer [...]
Prices tumble at UK’s stores November 8, 2011 PRICE wars between supermarkets are driving down the cost of food and other items, as stores fight for the attention of increasingly squeezed shoppers. Food was half a per cent cheaper last month than in September, the British Retail Consortium (BRC) revealed this morning. Tesco has been pushing its “Big Price Drop”, while Asda’s “Price [...]
Here is the Next step for Marks & Spencer to take November 8, 2011 TWENTY years ago, the UK was in recession and Marks & Spencer had just changed its boss: some things never change. Under Rick Greenbury, M&S went on to have a good 1990s, before over-expansion led to the inevitable and painful correction, under a new management team. Twenty years on, the competition is much tougher and [...]
M&S profits fall by 10pc November 8, 2011 Marks & Spencer posted a 10 per cent drop in first-half profit after second-quarter underlying sales fell for the first time in two years, underscoring the pressure on UK consumers. The 127-year-old group, Britain’s biggest clothing retailer which also sells homewares and upmarket food, said on Tuesday it made a profit before tax and one-off [...]
THE WEEK AHEAD November 6, 2011 COMPANY NEWS ● Today, Rentokil Initial announces. The global business services company – which is active in Europe, America, Africa and Asia – will be looking for results that aren’t a pest. ● Tomorrow, Vodafone and Marks & Spencer both announce. The former is the world’s largest mobile telecommunications company, and the latter is the [...]