Tesco in £1.8bn profit October 5, 2010 Tesco has made a £1.8bn profit in first half profits – a 14 per cent jump from the same period the year before. The world’s third biggest retailer said the rise in underlying pre-tax profits came despite “modest” UK sales growth in the 26 weeks to 28 August. Sales across the group jumped by more [...]
Tensions rise among MPC over more QE October 3, 2010 SPECULATION of a three-way split among the Bank of England’s Monetary Policy Committee (MPC) has intensified in recent days, creating a debate among City economists about whether the Bank will loosen policy even further. External MPC member Adam Posen last week put the cat among the already nervous pigeons when he argued strongly in favour [...]
Germany’s consumers optimistic September 28, 2010 GERMAN consumers are at their most confident in three years with further optimism expected next month thanks to the continued economic recovery, falling unemployment figures and only moderate inflationary pressures, market research firm GfK said yesterday. This month, the consumer confidence indicator jumped 6.9 points to 53.5, the highest level for around three years. Expectations [...]
Pakistan inflation could rise to 13.5pc, says IMF September 22, 2010 Pakistan’s inflation rate could soon rise as high as 13.5 per cent, according to the International Monetary Fund (IMF). The country’s inflation rose to a four-month high in August as devastating floods forced food prices higher. Core inflation rose to a higher-than expected 12.5 per cent, as the consumer price index increased 2.5 per cent [...]
China is sowing the seeds of a bull market in wheat and corn September 19, 2010 SHARP rises in food prices over the summer raised the ugly spectre of riots and civil unrest across the developing world and rampant inflation in Western countries. In August a Russian ban on wheat exports caused the price to spike, prompting some countries like Egypt to aim for self-sufficiency. The surge was short-lived but the [...]
Retail sales slip as spending cuts loom September 16, 2010 Retail sales volumes fell last month for the first time since January, in a sign that consumer demand may be slipping ahead of planned government spending cuts, official data showed. The Office for National Statistics said sales volumes fell 0.5 per cent last month, and revised July’s sales growth down to 0.8 per cent from [...]
Surge in food prices keeps inflation high September 14, 2010 HEADLINE annual inflation held steady at 3.1 per cent in August as sharp rises in the cost of air fares, clothing and food prices offset softer petrol prices, official figures revealed yesterday. The Office for National Statistics (ONS) said that inflation rose 0.5 per cent between July and August but that the annual rate remained [...]
CPI remains at 3.1pc September 14, 2010 Consumer price inflation held steady in August, after unexpectedly strong rises in airfares, clothes and food prices offset falling fuel costs, official data showed. The Office for National Statistics (ONS) said consumer price inflation came in at 3.1 per cent last month in contrast to economists’ expectations for a fall to 2.9 per cent. On [...]
FTSE traders torn between two directions September 13, 2010 THE FTSE 100 closed 63 points up at 5,565.5 points yesterday, rallying to a four-month high. Good banking and mining figures drove it upwards and a clear momentum emerged. While the upturn is indisputable, the jury is out on how long it will last. The index is out on a limb and opinion is split [...]
Food inflation could derail VAT increase September 12, 2010 FURTHER rises in food prices could cause annual inflation to accelerate to four per cent and endanger the government’s plans to hike VAT to 20 per cent in January, a leading City economist has warned. Henderson’s chief economist Simon Ward said that recent rises in global food commodity prices may boost annual CPI food inflation [...]