Branson backs Tory plans to slash spending faster February 16, 2010 SIR RICHARD Branson yesterday said the next government should start cutting the deficit immediately after the election, in comments that appeared to back Tory policy. “The next government, whatever party that is, must set out a plan to reduce the bulk of the deficit over a parliament by cutting wasteful spending and must not put [...]
Confidence high among firms February 7, 2010 THE slow economic recovery has not dampened the spirits of UK business owners, a survey by business adviser RSM Tenon has found. Many of the survey respondents said the situation will not take long to improve, with 59 per cent of those polled indicating that they felt confident about potential opportunities for their businesses over [...]
Only timely exit strategies will restore trust in Club Med states February 24, 2010 ONE year after the global bank crisis, investors’ worries have shifted from bank debt to sovereign debt. Western governments’ public deficits have grown considerably in a double-whammy of bank bailouts and fiscal stimulus. Those who question the effectiveness of the various stimulus programmes need only look at the sluggish growth in the fourth quarter of [...]
Christmas will be make or break for our retailers November 8, 2009 WHEN the Christmas lights on Regent Street were switched on last week, it marked the beginning of the most important period of the year for high-street retailers. Many can earn 60 per cent of their annual profits in the peak weeks of Christmas. After a dismal end to 2008 when it seemed like retail chains [...]
The big freeze hits January retail sales as shoppers avoid high street stores January 27, 2010 THERE was more gloom for the UK’s economy yesterday after retail sales for January look likely to have stalled after snow and the VAT hike kept shoppers away from the high street. The Confederation of British Industry’s (CBI) monthly distributive trades survey showed that the balance of retailers reporting an increase in sales fell to [...]
Inflation puts strain on UK households February 22, 2010 THE rapid pace of inflation means that British households are still feeling the strain almost two months after the country officially emerged from recession, a survey revealed yesterday. Markit/YouGov data showed that UK consumer finances worsened again in February, partly because income levels were unable to keep pace with increases in prices for goods and [...]
All eyes on Ben Bernanke’s testimony to Congress February 21, 2010 A QUICK look at last week’s performance data for European equities and bonds would suggest at first glance that the economic outlook for Europe had improved. The DAX and FTSE tacked on gains while German and UK bond yields moved higher. However, looks can be deceiving: we received a barrage of weak UK economic data [...]
Inchcape still cautious, but profit pleases March 10, 2010 INCHCAPE, the international car dealer, posted a smaller-than-expected fall in 2009 profit, helped by cost cutting and market share gains, but said it did not see a recovery in its markets until late this year. The British firm, which sells and distributes cars for manufacturers including BMW, Mercedes-Benz, Honda and Toyota in 26 countries, said [...]
Insider deal couple to face criminal trial March 15, 2010 A married couple have been charged with insider dealing as part of the Financial Services Authority’s (FSA’s) clampdown on market abuse just days after the conviction of former Cazenove banker Malcolm Calvert. Former Dresdner Kleinwort investment banker Christian Littlewood and his wife Angie Lew have been charged with 13 counts of insider dealing in a [...]
Doubts about the pace of the recovery will soon surface October 4, 2009 After Friday’s weaker-than-expected US jobs data and ensuing sell-off in stock markets, doubts are creeping back in as to whether the global economic recovery can be sustained, and the risk of a double-dip recession, although low, is rising. There is a heavy dose of economic data and central bank policy announcements on the calendar this [...]