Inflation across OECD member states hits new 27-month high of 2.4 per cent March 29, 2011 CONSUMER prices across member states of the Organisation for Economic Co-operation and Development (OECD) rose by 2.4 per cent in February compared with 2.2 per cent in January — the highest rate since October 2008. This increase was driven by food and energy inflation which reached three per cent and 10.1 per cent respectively. Excluding [...]
Inflation worries hits Germany March 29, 2011 German consumer confidence will decline for the first time in ten months in April, researchers GfK said yesterday. Spiralling energy and food price pressures were cited for the uncertain outlook. However, German inflation remained stagnant at 2.1 per cent in March, official data showed.
Porridge helps Pret a Manger stay hot March 29, 2011 Sandwich chain Pret a Manger has said sales of hot food such as porridge were helping it to thrive in tough consumer environment as it posted a 37 per cent rise in its 2010 core earnings. The chain, majority owned by private equity firm Bridgepoint , said it planned to open more than 30 shops [...]
Inflation and spending up in US March 28, 2011 US consumer spending rose for an eighth straight month in February as households tapped savings to cover higher food and energy prices, the Commerce Department revealed yesterday. Spending was up 0.7 per cent, higher than economists expected, after a 0.3 per cent increase in January. Inflation accelerated at its fastest pace since June 2009. Meanwhile, [...]
Wake up and smell the instant coffee March 24, 2011 CHRISTMAS?2010 will be remembered as Britain’s last big spending splurge. What better way to end almost two decades of unsustainable, debt-fuelled largesse than with a massive turkey dinner and tonnes of presents? Supermarkets could barely believe it as families spent more than ever before on rich food and booze; John Lewis notched up record sales. [...]
UK retail sales fall March 24, 2011 Retail sales fell more than expected in February, retracing some of January’s rebound after a jump in prices which was only partly due to the rise in VAT, hit volumes, official data showed. The Office for National Statistics said sales volumes including automotive fuel fell 0.8 per cent last month after a downwardly revised increase [...]
ANALYST VIEWS: WHAT HAS CAUSED THE SLOWDOWN AT SAINSBURY’S? March 23, 2011 NICK BUBB | ARDEN Sainsbury’s was very pleased with itself for delivering 3.6 per cent like-for-like growth in its third-quarter, but once higher VAT and the benefit of store extensions were stripped out the performance wasn’t so impressive. We maintain a ‘weak Hold’ view. We would switch to Morrisons. CLIVE BLACK | SHORE CAPITAL The [...]
Sainsbury’s misses quarter four target as times get tough March 23, 2011 J Sainsbury, the third-biggest supermarket group, missed fourth-quarter sales forecasts and said trading was likely to remain tough as shoppers face rising fuel prices and government spending cuts. The group, which trails Wal-Mart’s Asda and industry leader Tesco by annual sales, said on sales at stores open over a year rose one per cent, excluding [...]
Inflation soars to a 28-month peak March 22, 2011 INFLATION has reached its highest level since October 2008, the Office for National Statistics (ONS) revealed yesterday. The consumer price index – which the Bank of England is tasked with keeping close to two per cent – jumped from four per cent in January to 4.4 per cent in February. “The Bank is going to [...]
What the other papers say this morning March 17, 2011 FINANCIAL TIMES RAJARATNAM REVEALED OUTSOURCER’S SALE Raj Rajaratnam, the hedge fund billionaire on trial for alleged insider trading, told a friend the price an Indian company offered to pay for PeopleSupport days before a deal was announced, according to a phone call played by prosecutors. TCHENGUIZ PLANS TO RESTRUCTURE £2BN DEBT PILE Vincent Tchenguiz, the [...]