UK leaves recession with strong quarterly growth October 25, 2012 The economy officially emerged from recession in the three months to September, posting its strongest quarterly growth in five years. Official figures from the Office for National Statistics said this morning that the economy expanded by one per cent in the third quarter, compared to a contraction of 0.4 per cent over the previous quarter. [...]
Magners maker goes stateside as rain waters down UK sales October 23, 2012 IRISH cider maker C&C said yesterday it would buy US firm Vermont Hard Cider for $305m (£191m) as part of a bid to tap into a fast-growing market and offset weakness in its core UK business, where sales of its flagship Magners brand slumped during a wet summer. Sales of Magners in the US leapt [...]
UK set to celebrate the official end of the recession after Games boost October 21, 2012 THE UK is this week expected to officially exit recession, with news from the Office of National Statistics set to confirm the double dip is over. The ONS will publish its first estimate of third quarter GDP, with analysts predicting impressive growth, due in part to the Olympics. Howard Archer, of IHS Global Insight, said: [...]
Microsoft sales dip hits profits October 18, 2012 MICROSOFT, the world’s largest software company, last night posted a greater-than-expected quarterly profit fall of 22 per cent, as sales of computers running its Windows operating system dipped. The sharp decline surprised investors, who had underestimated the effect of weak personal computer sales, sending Microsoft’s shares down more than two per cent in after hours [...]
AkzoNobel swings to a €2.4bn net loss as Dulux dogs the firm October 18, 2012 DUTCH paintmaker AkzoNobel yesterday plunged to a quarterly net loss of €2.4bn (£1.95bn) after taking a €2.5bn writedown on its 2008 purchase of Dulux paint maker ICI. The world’s biggest paint manufacturer is also looking for more cost cuts on top of the €500m of savings announced last year to cope with weak consumer and [...]
Obama has reopened the campaign by denying Romney a knock-out blow October 17, 2012 TUESDAY night’s presidential debate between Barack Obama and Mitt Romney may have had the occasional spark, but it lacked fireworks. Rather than a dazzling spectacle, it was noteworthy for two – or perhaps three – lacklustre performances. Having been overwhelmingly trounced by Romney in the first debate, this was the President’s chance to stop the [...]
Matalan names Allan Leighton as its chairman October 16, 2012 FORMER Asda boss and Royal Mail chairman Allan Leighton is to join the board of Matalan as chairman, the discount fashion and homeware retailer said yesterday as it posted robust second quarter sales. The highly-regarded Leighton will replace John Mills, who has been in the role for six years and will now become deputy chairman. [...]
Growth hit more by inflation than cuts October 16, 2012 FISCAL watchdog the Office for Budget Responsibility (OBR) said yesterday that high inflation and weak exports were behind the UK economy performing far worse that it had predicted. The government’s deficit reduction plans may have affected growth, the OBR said, yet its economists calculated that other factors were considerably more likely to have dragged on the [...]
A fascinating, brutal and, in this case, very personal look at a post-Leveson media landscape October 11, 2012 THEATRE ENQUIRY Barbican | *** Being close to the subject of a play doesn’t necessarily make you any better equipped to review it. A soldier may be on first name terms with the horrors of war but that doesn’t always make him the best person to appreciate the artistic merits of Francis Ford Coppola’s Apocalypse [...]
Asia takes the shine off growth at staffing firm Robert Walters October 4, 2012 A SLOWDOWN in hiring in Asia has weighed on recruitment firm Robert Walters’ third quarter results, the company said yesterday. The white-collar recruiter posted an eight per cent rise in net fee income to £13.1m in the UK, only to be overshadowed by a five per cent fall on last year to £24.1m in Asia [...]