Fed’s Yellen concerned by recent shock jobs report but remains “cautiously optimistic” June 6, 2016 The recent jobs report that showed a slow down in the number of jobs the US economy is adding has been called "concerning" by the Fed chair Janet Yellen. Her remarks will reinforce market expectations that the US interest rate will be held steady. Bloomberg average estimates of an interest rate hike in June fell to two [...]
Bitcoin just hit its highest against the dollar in nearly two years June 3, 2016 Whoosh. That's the sound of bitcoin whistling past, as it jumped to its highest level against the dollar in nearly two years. The cryptocurrency leaped to $556.19 in mid-afternoon trading, its highest since August 2014. That followed US data which showed job openings rose by just 38,000 in May, way below the 160,000 expected. Analysts dubbed the figures "crazy": [...]
Dollar plummets as US reports weakest jobs growth in six years, pushing back expectations of a US rate rise June 3, 2016 "Crazy". "Absolute shocker". "Unbelievable". It's safe to say US jobs growth just blew analysts' minds. Official data published today showed US employers added just 38,000 jobs last month – the lowest figure in six years, and way below the 160,000 expected. Meanwhile, earnings growth remained weak, rising just 0.2 per cent on last month, down from 0.4 [...]
Putting the super back into the supermarkets: What the Co-op rebrand tells us about the current state of the sector June 1, 2016 The unveiling of the Co-op rebrand last week was the latest sign of a major shift in the supermarket arena. The brand’s decision to revert back to its origins, resurrecting – albeit also modernising – its 1968 logo, was a clear attempt to spark an emotional connection with an audience for whom loyalty is meaning [...]
The supermarket squeeze: Big four supermarkets outperformed by discounters and premium competitors June 1, 2016 The big four food retailers – Tesco, Sainsbury's, Asda and Morrisons – are suffering in the supermarket squeeze today as both discount and premium challengers boasted the strongest sales growth. Tesco had the smallest drop in sales of the big four, at 0.1 per cent, and Asda the biggest, with a 5.1 per cent decline in sales. Discounters Aldi and [...]
Who are the seven bidders vying for Tata Steel’s UK assets? May 23, 2016 Today is the deadline for the submission of final bids for Tata Steel's UK assets, which include Port Talbot, as well as sites at Newport and Rotherham. Seven bidders are expected to present to Tata's board in Mumbai on Wednesday, however and the most likely next step will be to form a shortlist of candidates. Excalibur Steel Excalibur, [...]
UK dividend attraction falls as it lags behind global payout growth May 23, 2016 UK dividends fell by five per cent in the first quarter of 2016, lagging behind global growth, a new report out today has found. Since 2009, UK dividends have grown 44 per cent, behind the global average of 59 per cent, according to Henderson Global Investors. In the first quarter of this year, the report [...]
For Asda boss Andy Clarke, the nadir may be yet to come May 20, 2016 It takes a brave man to call the bottom. It's just so easy to get it wrong. Asda boss Andy Clarke certainly appears to have jumped the gun when he said last August that the Walmart-owned supermarket had reached its “nadir”. At the time, his words were meant to give reassurance that, although the business [...]
Five challenges Amazon faces plotting its own-brand products May 17, 2016 Reports that Amazon is branching out into private-label groceries make sense for the retail giant. In a sluggish market own label is one of the few healthy areas, growing by 1.5 per cent in the first quarter of 2016. Retailers aren’t seen as credible without an own label range, but developing a strong offer takes time and Amazon will [...]
Aerobics in the aisles: How supermarkets could solve the obesity crisis, according to Oliver Wyman May 16, 2016 Are the UK's Big Four supermarkets responsible for the obesity crisis? Global management consultancy Oliver Wyman seems to think so. In a report released today, Oliver Wyman has said the Big Four "hold the answer" to the crisis should be using their "considerable influence" to save one million people from being obese and 1.5mn from being [...]