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 [...]
FOOD & BOOZE NEWS September 13, 2010 HEL YES! FINNISH POP-UP Another month, another pop-up. The latest high profile temporary eatery, to open alongside London Design Week, is HEL YES!. It’s Finnish (get it?) with 120 covers, a bar and an exhibition created and executed by a creative team of Finnish designers and food connoisseurs. Highlights include “archipelago bread”, made from wheat [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 12, 2010 FINANCIAL TIMES RESPITE OVER CITY BONUSES DETAILS Britain’s banks will be spared the embarrassment of giving details of big bonus payments to staff in their annual reports next spring after the Treasury admitted the relevant legislation will not be on the statute book in time. The delay to new disclosure requirements is likely to create [...]
Jim O’Neill to take new role at Goldman September 12, 2010 JIM O’Neill, chief economist at Goldman Sachs, has been appointed to the newly created role of chairman of the bank’s asset management division, the bank announced this weekend. O’Neill will advise clients on investment strategies but will also continue to comment on key economic issues. His appointment is subject to regulatory approval from the Financial [...]
BP and energy peers propel the FTSE while banks drag September 8, 2010 EENERGY stocks led by BP pushed Britain’s top shares higher yesterday, outpacing falls in banks that were weighed down by European recovery concerns. The FTSE 100 closed up 21.92 points, or 0.4 per cent, at 5,429.74, after breaking a seven-session winning streak to close down 0.6 per cent on Tuesday at 5,407.82. Meanwhile the FTSE [...]
Liechtenstein give Scotland huge scare before late drama September 7, 2010 EURO 2012 QUALIFYING ROUND-UP SCOTLAND came within minutes of the most embarrassing result in their history before scraping a 2-1 victory at home to minnows Liechtenstein. Mario Frick set up the possibility of a huge upset when he curled the visitors ahead just after half-time in the Group I Euro 2012 qualifier. Striker Kenny Miller [...]
Record for foreigners in UK shopping bonanza September 6, 2010 LAST month was the busiest on record for international shoppers hitting UK stores, a new survey showed today. Sales were up 18 per cent with shoppers from China, Russia, Thailand and Malaysia leading the boom. The hike came despite Middle Eastern shoppers heading home for religious festival Ramadan during the month. The growth in Chinese [...]
Gazprom mulls float of units September 6, 2010 RUSSIAN energy company Gazprom said yesterday it planned to combine its numerous electricity holdings under a single entity that it would float on the stock market. Combining the assets, some of them large electricity providers, would create Russia’s second-biggest power producer after state-controlled Rushydro, Renaissance Capital analyst Vladimir Sklyar said. The consolidation would be done [...]
Food inflation to benefit UK supermarkets September 6, 2010 UPWARD pressures on food prices appear to be here to stay. Global demand is increasing while droughts and fires last month hit harvests in Russia and Ukraine. Market researcher Kantar Worldpanel anticipates that UK grocery inflation will rise to an annualised 4 per cent by the end of 2010 from its current rate of 2 [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 2, 2010 FINANCIAL TIMES LENDERS SHUNNED ON STRESS TESTS DOUBTS Leading UK and continental European companies are increasingly shunning banks from Spain, Italy and even Germany because they do not believe the Europe-wide stress testing of banks gave a true picture of their financial health. Corporate treasurers from groups with revenues of more than $240bn told the [...]