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 [...]
US inflation rate picks up speed March 17, 2011 US consumer prices rose at their fastest pace in more than one and a half years in February, driven by higher food and energy prices. The Labour Department said its Consumer Price Index rose 0.5 per cent, the largest gain since June 2009, after increasing 0.4 percent in January. Core CPI – excluding food and [...]
Disaster fears batter markets March 16, 2011 Fears of another nuclear explosion in Japan have been compounded by a revival in eurozone debt worries and an upscaling in violence against pro-democracy protesters in the Middle East to leave markets lower again. The FTSE 100 closed down 1.7 per cent at 5,598.23 after a plunge in mid-afternoon caused by EU energy minister Gunther [...]
US wholesale prices rise fastest in 18 months March 16, 2011 US producer prices surged in February at their fastest pace in just over 18 months, pointing to a build-up in pipeline inflation pressures from soaring food and energy costs. The US Labor Department says its seasonally-adjusted index for prices paid at the farm and factory gate jumped 1.6 per cent, the largest increase since June [...]
New goods basket to measure prices March 15, 2011 DATING websites and smart phone applications are among new items included in the calculation of UK inflation rates, the Office for National Statistics (ONS) revealed yesterday. The “basket of goods” used to measure changes in prices reflects technological shifts in Britons’ spending habits. Out go mobile phone downloads (such as ring-tones and wallpapers) and in [...]
US import prices rise on fuel costs March 15, 2011 US import prices rose for the fifth consecutive month in February as political turmoil in the Middle East helped pushed oil prices higher, a Labor Department report has shown. Import prices jumped 1.4 per cent, significantly more than the consensus forecast of 0.9 per cent in a Reuters poll of economists. Fuel import prices accounted [...]