Don’t be gloomy – but there are still risks to the strong UK recovery July 27, 2014 Friday’s GDP data took us past a very symbolic landmark. The level of output in the UK is now slightly above its pre-recession peak. However, we should bear in mind that the UK population has risen by more than 4 per cent since early 2008. Average income per person is therefore still some way below [...]
In a field of his own: FarmDrop’s Ben Pugh talks crowdfunding and the future of our food July 27, 2014 In the time it’s taken FarmDrop founder Ben Pugh to discuss his company with me, it crowdfunded £13,000. After just eight days on crowdfunding platform Crowdcube, FarmDrop raised more than its £400,000 investment target. A new way of doing food is, it seems, quite popular. The FarmDrop concept is simple: it streamlines the food [...]
Amazon shares slide as markets take a dim view of second-quarter loss July 25, 2014 Amazon shares have folded faster than high-street bookstores today after the Nasdaq showed what it thought of the world's largest online retailer posting a loss for the second quarter and falling some way short of market expectations. Shares had slumped by 11.36 per cent at pixel time with earlier losses as high as twelve per cent. That [...]
It’s official: UK GDP finally back above pre-crisis levels July 25, 2014 Preliminary data has confirmed what almost everyone expected: UK output is finally back above its pre-crisis levels. A consensus poll of analysts expected to see that GDP had risen by 0.8 per cent in the second quarter of 2014. Today's preliminary estimate, from the Office for National Statistics (ONS), sees the UK economy growing at [...]
IMF Admits: The UK is on top of the world July 24, 2014 BRITAIN is set to outstrip global growth this year, with figures out today expected to confirm that the economy has bounced back from the recession and is now larger than it ever has been before. British GDP will have grown by 3.4 per cent between the fourth quarter of last year and the end of [...]
Asia chief is new top banana at Wal-Mart July 24, 2014 Wal-Mart Stores has replaced its US head Bill Simon with Asia chief Greg Foran (pictured) as it seeks to restore the fortunes of its largest business after a year of sluggish sales. A 35-year retail veteran who started out as a teenager stocking shelves, Foran is being moved to the US just two months after [...]
Starbucks tops expectations as profits rise by more than 10pc July 24, 2014 Global coffee giant Starbucks topped Wall Street expectations once again. The Seattle coffee chain reported earnings per share of $0.67 for the quarter ended in June, compared to $0.66 forecast by analysts. Starbucks, which has stores in 63 countries and over 200 stores in London, said revenue rose by more than 10 per cent to [...]
Supermarket price wars: Money can’t buy me love…or can it? July 24, 2014 As another CEO falls on his multi-million pound sword this week; the convenient simplification of the problem into pricing and the rampant value-retailer onslaught seems to deliver a somewhat myopic view of the task facing the brooding monoliths that are the big retailers. While Mr. Clarke was seemingly handed a metaphorical deuce to seven [...]
UK retail sales see strongest calendar increase in a decade July 24, 2014 Headline retail sales growth in June was markedly softer than expected, according to official estimates released today. Office for National Statistics (ONS) figures saw overall retail sales up by just 0.1 per cent in the month, lower than the 0.3 growth anticipated by an analyst poll. Excluding fuel, retail sales dropped by 0.1 per cent [...]
Kingfisher share price falls as World Cup distracts DIY shoppers July 24, 2014 Shares in B&Q owner Kingfisher have fallen by more than 7.3 per cent in early trading, after the company reported falling like-for-like sales and the acquisition of French DIY brand Mr Bricolage. Chief executive Sir Ian Cheshire said that second quarter trading "was always expected to be more difficult", and that markets "have been slower [...]