UK trade deficit expected despite stronger exports March 8, 2011 THE UK is undergoing a “two speed” recovery, with exporting companies set to take advantage of greater demand abroad than at home, a survey revealed today. “Confidence in international trade is robust as exporters thrive on a global rebound but confidence in the current UK economic climate is at a record low as consumer demand [...]
Punch profit falls as business splits April 12, 2011 PUNCH Taverns yesterday reported a fall in half-year profits, as it splits into two separate businesses. Pre-tax profits for the 28 weeks to 5 March came in at £61m, down from the £66m recorded a year earlier. Like-for-like sales at the group’s managed pubs rose 4.9 per cent over the period, and by 8.2 per [...]
House prices rise 0.5 per cent March 31, 2011 UK house prices rose 0.5 per cent in March compared with February, and 0.1 per cent compared with March 2009, Nationwide’s house price index has shown. February’s price growth was also revised upwards to 0.7 per cent from 0.3 per cent originally reported. But Global Insight chief economist Howard Archer warned that the growth was [...]
Six things we will get more of when RDR is introduced July 13, 2011 WHETHER investors are aware of it or not, the Retail Distribution Review (RDR) will shake up investing. Expect more regulation, professionalism, transparency, low-cost investments and investment trusts – but you should also assume we will get some unforeseen outcomes. 1. REGULATION Even though it is soon to be abolished, the Financial Services Authority (FSA) is [...]
Six things we will get more of when RDR is introduced July 13, 2011 WHETHER investors are aware of it or not, the Retail Distribution Review (RDR) will shake up investing. Expect more regulation, professionalism, transparency, low-cost investments and investment trusts – but you should also assume we will get some unforeseen outcomes. 1. REGULATION Even though it is soon to be abolished, the Financial Services Authority (FSA) is [...]
CITY A.M. | SHADOW MPC EDGES CLOSER TO A RISE IN INTEREST RATES April 6, 2011 ALLISTER HEATH | CITY A.M. “With consumer price index inflation of 4.4 per cent and heading upwards, it’s time to end over two years of ‘emergency’ levels of interest rates. The Bank rate should be edged up by 0.25 per cent this month.” SIMON WARD | HENDERSON “Half-point rise. The economy has rebounded solidly in [...]
UK consumer morale stuck in depression February 24, 2011 BRITAIN’S slump in consumer confidence has continued into February, according to a survey commissioned for the European Union, released today. The GfK NOP index rose by one point compared to January yet, at a score of -28, remains 14 points below where the index stood this time last year. “Overall confidence remains low and, although [...]
Porridge helps Pret a Manger stay hot March 29, 2011 Sandwich chain Pret a Manger has said sales of hot food such as porridge were helping it to thrive in tough consumer environment as it posted a 37 per cent rise in its 2010 core earnings. The chain, majority owned by private equity firm Bridgepoint , said it planned to open more than 30 shops [...]
Slowdown in sales growth at Sainsbury’s March 23, 2011 SAINSBURY’S said yesterday that its sales growth was slowing with fears over the economy draining consumer confidence. Chief executive Justin King said that the company was performing well considering the challenges facing retailers. Like-for-like sales for the fourth-quarter were up by one per cent, below market expectations, and against growth of 3.6 per cent in [...]
At a glance: All the crucial points in the ICB’s report April 11, 2011 THE AIMS l The focus is to make banks more stable, the UK banking system more competitive and to reduce the costs to the economy and taxpayers of any remaining bank failures. The banking sector must be returned to normal market forces. l Enhanced competition is needed between UK banks to reduce concentration and offer [...]