Vincent Tchenguiz interview: the Mayfair tycoon fighting to clear his name June 3, 2011 An afternoon with Vincent Tchenguiz, the property tycoon fighting to clear his name of fraud allegations linked to the collapse of Icelandic bank Kaupthing, makes you realise why cases like this take a team of accountants years to unravel. For nearly 90 minutes, I’m bombarded with figures and facts, allegations and claims. At one point [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 31, 2011 FINANCIAL TIMES UK CONSUMER RECOVERY SET TO BE SLOWEST IN 180 YEARS The UK economy is set to experience the slowest pick-up in consumer spending of any post-recession period since 1830, according to a Financial Times analysis of official forecasts. Families are expected to spend just slightly more by 2015 than they were before the [...]
Inflation goes up in OECD yet slows across Eurozone May 31, 2011 INFLATION has hit a 30-month high across member states of the Organisation for Economic Co-operation and Development (OECD), the group revealed yesterday, despite a slight easing of prices in the Eurozone. Consumer price inflation edged up to 2.9 per cent for the OECD in April, from 2.7 per cent in March, reaching its highest level [...]
CHINESE DROUGHTS FORCE UP FOOD PRICES May 31, 2011 DROUGHTS in China have placed even greater upward pressure on food prices, provoking a dilemma for the Chinese authorities, as they seek to control inflation. Pork prices have jumped in particular, further inflated by strong demand from May’s holidays. Food prices account for about a third of China’s consumer price index. Slower economic growth is [...]
Spanish inflation slowed in May May 31, 2011 Spanish inflation eased slightly in May, according to the harmonised European Union measure, released yesterday. Consumer price inflation (HICP) came in at 3.4 per cent, down from 3.5 per cent the previous month. Meanwhile, Belgian consumer price inflation held steady at 3.4 per cent. “Given further increases in food and core inflation, in combination with [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 19, 2011 FINANCIAL TIMES MOVE TO QUASH HERMÈS’ POISON PILL Minority shareholders in Hermès have sought to quash the luxury goods group’s poison pill defences devised by its controlling family, potentially bolstering LVMH’s protracted takeover push for its smaller rival. CHINESE SET A NEW STANDARD IN BUYING GOLD China overtook India to become the largest market for [...]
Royal Wedding and sunny weather boost retail sales May 19, 2011 Retail sales climbed more than expected in April, boosted by the extra holiday for the Royal Wedding and record temperatures, official data showed. The Office for National Statistics said sales volumes including automotive fuel rose 1.1 percent last month, well above analysts forecasts for an increase of 0.8 per cent, and the biggest rise for [...]
King’s letter is backed by Osborne May 17, 2011 BANK of England governor Mervyn King sent his sixth letter in 15 months to chancellor George Osborne this week, as inflation shows few signs of returning to its two per cent target. King is obliged to write a letter of explanation every three months as to why inflation remains more than one per cent above [...]
Eurozone hit by sharp leap in core prices May 16, 2011 CORE inflation in the Eurozone shot up in April, it was revealed yesterday, while a senior central bank official signalled more interest rate hikes to come. Core consumer prices (excluding energy, food, tobacco or alcohol) jumped to 1.6 per cent in the single currency area last month, from 1.3 per cent in March and one [...]
UK retailers are serving up higher high street prices May 16, 2011 ACCORDING to a report issued by economic forecasting group Ernst and Young ITEM Club yesterday, UK retailers are in for a difficult time in the years ahead. The report points to rising inflation and energy bills – without corresponding wage increases – leaving households with less disposable income. “World prices for food, fuel and fibres [...]