Greggs reports sales rise October 6, 2011 High street baker Greggs posted a slight acceleration in sales growth in its third-quarter, showing resilience in the face of severe macroeconomic headwinds. Greggs, which sells bread, sandwiches, savouries and cakes to over 6 million customers a week from 1,540 shops, said sales at stores open over a year rose 0.8 percent in the 13 [...]
Rising sun set to shine again September 28, 2011 THERE is a strong argument that Japanese equities are undervalued. Although the macro situation remains bleak, this doesn’t preclude companies from turning a profit – particularly on the back of Chinese demand. A GOOD DEAL Ben Seager Scott of Bestinvest says “Japan is looking like a fairly attractive investment opportunity at the moment, with cheap [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 16, 2011 FINANCIAL TIMES BTG PACTUAL LOOKS AT IPO AS IT EYES EXPANSION BTG Pactual, Brazil’s largest independent investment bank, is looking to hold an initial public offering as early as next year as one option to fund an ambitious expansion in Latin America. The move comes as the bank is also strengthening its foothold in Asia [...]
Next upbeat on 2012 while earnings rise September 14, 2011 NEXT yesterday said there was a chink of light amid the retail gloom as it forecast a pick-up in sales in 2012. The retailer said there had been a “perfect storm” in 2011 with customers squeezed by surging energy bills, the slowdown in government spending and a hike in VAT. However, pre-tax profits for the [...]
Factory input costs fall but prices stay high September 9, 2011 Prices for manufactured UK goods stuck at a record high in August despite a fall in the costs of raw materials as fuel costs dipped, official data shows. Factory gate inflation stayed at July’s upwardly revised reading of 6.1 per cent, the highest annual rate since October 2008. Analysts had forecast a 5.9 percent increase. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 7, 2011 FINANCIAL TIMES LIBOR ENQUIRY EYES CRIMINAL ANGLE The US investigation into alleged manipulation of interbank lending rates is focusing on possible violations of a commodities law that has previously been used to send financial executives to prison. According to people familiar with the probe into the setting of London and Tokyo interbank offered rates, US [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 6, 2011 FINANCIAL TIMES PIMCO WINS MORE FREEDOM Pimco, the US asset manager, is being given more autonomy as part of a restructuring by its owner Allianz, the German insurer. Pimco has been one of Allianz’s most successful investments since it was acquired in 2000 and has been given a largely free rein to set its own [...]
Global warming agenda to hit living standards August 31, 2011 LOOKING at the scale of the fiscal correction needed, does anyone seriously think that a major new burden on the households who rely on benefits the most is remotely affordable? Politicians are clinging to their climate change policies but that is going to become increasingly untenable as the costs mount. Citigroup expect that in order [...]
BHP posts record profit and raises dividend August 24, 2011 BHP Billiton reported a record second-half profit driven largely by iron ore, but just missed market forecasts and sounded a warning over costs and longer-term demand. The global miner also sought to appease investors with a big hike in its dividend. BHP, the last of the major miners to report results, was confident on the [...]
Crisis fails to dampen deal prices August 22, 2011 PENSION transfer prices have held up despite the market volatility linked to the sovereign debt crisis, experts said yesterday. America’s credit rating downgrade and the Eurozone sovereign debt crisis have had little impact on corporate bond yields, which drive the price costs of pension insurance buyouts and buy-ins – known as bulk annuities. Pensions consultant [...]