IMF backs down from UK criticism as forecast hiked January 21, 2014 THE INTERNATIONAL Monetary Fund (IMF) has flipped its position on the UK economy, confirming a large positive revision to its forecast for this year’s economic growth. Having criticised chancellor George Osborne for “playing with fire” only eight months ago, IMF chief economist Olivier Blanchard said yesterday that the recent recovery is sustainable, explaining the IMF’s [...]
Unilever surprises with a stronger end to year January 21, 2014 CONSUMER goods giant Unilever reported a better-than-expected finish to its financial year thanks to a rebound in sales in some emerging markets, sending shares higher yesterday. The company behind Lipton Tea and Dove soap surprised the market in October after issuing its first profit warning in almost a decade. It blamed an accelerated slowdown in [...]
IMF makes big boost for UK official January 21, 2014 The International Monetary Fund (IMF) forecast for UK growth this year has been rapidly revised upwards today, from the 1.9 per cent projection in October, to 2.4 per cent. In April last year, the IMF expected growth of only 1.5 per cent for the UK. As widely expected, the Fund is easing off on criticism [...]
Unilever dogged by currency headwinds and competitive markets January 21, 2014 "Good progress in tough markets" is the phrase Unilever has chosen to describe its performance in 2013. The Anglo-Dutch products giant said its determined to improve by “driving out complexity and cost”. In its full year results for 2013, Unilever reported underlying sales growth of 4.3 per cent (4.1 per cent in the fourth quarter) [...]
Two steps forward for Iranian nuclear deal January 20, 2014 In November, an historic deal between Iran and the US, Russia, China and European powers was struck. Today, two significant things regarding the deal are happening. Part of the agreement was that Iran begin curbing its uranium enrichment. That curbing has started today, according to state TV. And today is also the day the UN [...]
What the other papers say this morning – 20 January 2014 January 20, 2014 FINANCIAL TIMES David Cameron faces EU isolation David Cameron risks “damaging Europe” with his anti-immigration stance, according to some of Britain’s allies, leaving the prime minister looking isolated in his attempts to restrict free movement in the EU. Ministers and officials from several EU powers told the Financial Times they would resist Mr Cameron’s attempts [...]
Hays bullish after increase in UK hires January 19, 2014 Alistair Cox sees plenty of growth to come for British jobs, but skills shortages are a worry AFTER a torrid few years for the jobs market, the boss of the country’s biggest white-collar recruiter is feeling optimistic enough about the growing signs of recovery that he’s even planning to add some staff to his own [...]
Sport Comment: Rich owners really can tell fans to go to Hull January 19, 2014 ONE day you suspect Roman Abramovich will get tired of owning a football club and the Kings Road will be the scene of the first demonstration in this country by die-hard fans begging a billionaire owner not to leave. “Never mind the manager and the players,” the Chelsea faithful will chant. “We need your money.” [...]
What the other papers say this morning – 16 January 2014 January 15, 2014 FINANCIAL TIMES Payday lenders to create database After repeatedly saying that it was impossible to create a database for payday loans the UK’s largest payday lenders are clubbing together to set one up. Wonga, Quick Quid, Mr Lender and ThinkFinance have all signed up to provide information to a real time credit-reporting system run by [...]
BP forecasts shale boom will transform the energy market January 15, 2014 GLOBAL energy consumption will rise by 41 per cent by 2035, with 95 per cent of that growth in demand coming from emerging markets, research from oil major BP predicted yesterday. But energy use in developed markets is expected to grow very slowly and will begin to decline in the later years of the forecast [...]