Premier warns investors: More defaults will happen in China March 13, 2014 A STRING of disappointing figures about the Chinese economy were released yesterday, while the country’s Premier, Li Keqiang, warned it is “unavoidable” that there will be more large-scaled defaults on bonds. “We are reluctant to see defaults of financial products, but some cases are hard to avoid,” Li said. “We have been paying great attention [...]
Home Retail’s sales jump as Duddy departs March 13, 2014 HOME Retail Group’s outgoing chief executive Terry Duddy will leave the company on a high after reporting strong full-year sales yesterday across both of its businesses and raising full-year forecasts. Sales at Argos leapt 5.2 per cent to £526m in the eight weeks to 1 March, with same store sales growing by the same amount [...]
Homes in homage to enterprising MP March 13, 2014 New homes alongside Regent’s Canal are a natural haven away from the hustle and bustle A TRIBUTE to the historical figure who inspired the London Underground logo lies in the bricks and mortar of contemporary London. The industrial architecture of the newest homes to arrive in King’s Cross pay homage to Liberal MP Samuel Plimsoll [...]
What you need to know before the US open March 13, 2014 US stock futures are pointing to a slightly better open for markets today, and no doubt the slew of data just out – all of which is better-than-expected – means investors have plenty to digest. Bonds have slipped after the encouraging data, with the dollar gaining ground against the euro, too. Initial jobless claims fell [...]
Gold touches 6-month high on Ukraine and China fears March 13, 2014 Rising tensions between Ukraine and Russia and growing concern about Chinese economic growth have seen gold climb to a six-month high today. The safe-haven asset rose 0.4 per cent to $1,373/oz, up for the third day in a row. It’s currently up 0.1 per cent. Tumbling exports and a recent bond default have sent equities [...]
3 ways Morrisons will change your supermarket March 13, 2014 Morrisons’ extensive and rapid loss last year, and its foreseeable future profit warning, perhaps put it ahead of other supermarkets in terms of how quickly it needs to change. But the changes it needs and is planning to make affect all mainstream supermarkets. Indeed, the shares of all of them have lost this morning on [...]
Supermarkets are getting crushed March 13, 2014 Morrisons has plummeted into the red, announcing a £176m pre-tax profit loss, having made a £897m profit a year earlier. The supermarket’s planning a £1bn property selloff over the next three years, in a bid to ameliorate the situation. It’s issued a dire profit warning, too, which has been described this morning on the BBC [...]
Morrisons shares slump 10pc after £176m loss March 13, 2014 Supermarket chain William Morrison has seen its shares drop by 10 per cent after reporting a pre tax loss of £176m for the year ended 2 February. Like-for-like sales were also down 2.8 per cent while turnover fell two per cent. The primary reasons for the losses were the £903m write-down relating to the value [...]
Home Retail shares jump in wake of higher profit expectations March 13, 2014 Home Retail has seen its shares rise by 6.5 per cent after the company reported higher sales and increased profit expectations. Home Retail reported an increase in like-for-like sales at Argos of 5.2 per cent to £526m for the eight-week trading period for the financial year ended 1 March 2014. The group reported an increase [...]
What you need to know before the open March 13, 2014 Data from China will keep markets on their toes this morning, as ongoing concerns about the health of the world’s second-largest economy continue to weigh down sentiment. Despite weaker numbers, though, European bourses look set to open slightly higher, after yesterday’s strong declines. Chinese industrial production in February came in at 8.6 per cent from [...]