Three opportunities for investors in 2013 February 21, 2013 THE prospects for the US economy, slower growth in China, and European summits all weighed on the minds of investors in 2012. And this led many to seek shelter in safe havens, like cash. But now “investment austerity” is set to characterise the investing landscape in 2013. The new normal – low yields, greater correlation [...]
Why Britain’s housing market has escaped the disasters of the 1990s November 22, 2012 DESPITE economic woes, the British housing market is holding up reasonably well. According to the Office for National Statistics, house prices in September were 1.7 per cent higher than a year earlier in nominal terms, and only 2.5 per cent down on their 2008 peak. Of course, there are qualifications. Higher prices are mainly confined [...]
US and Canada buoy Wolseley quarterly sales December 4, 2012 A GRADUAL recovery in the US housing market and continued growth in Canada has helped plumbing and builders merchant Wolseley offset revenue declines in Europe. The company, which generates more than half its sales in the US, said trading profit rose to £198m in the quarter to 31 October compared with £185m in the period [...]
Our struggling retailers face years of creative destruction January 10, 2013 WE are now reaching a tipping point for British retailers. A combination of historically weak growth in consumer spending and a new phase in the digital revolution is on the verge of destroying many business models. As online sales continue to boom, and those from stores start to slide, rather than merely grow more slowly, [...]
US corporate results round up November 13, 2012 Home Depot raises forecasts for sales HOME Depot yesterday raised its full-year outlook as the retailer benefited from a recent uptick in the US housing market and analysts expect a sales boost from Hurricane Sandy in the current quarter. The world’s biggest home improvement chain posted quarterly net earnings up 1.4 per cent to $947m [...]
US corporate results round up November 13, 2012 Home Depot raises forecasts for sales HOME Depot yesterday raised its full-year outlook as the retailer benefited from a recent uptick in the US housing market and analysts expect a sales boost from Hurricane Sandy in the current quarter. The world’s biggest home improvement chain posted quarterly net earnings up 1.4 per cent to $947m [...]
Hula Hoops owner snapped up in £500m merger December 5, 2012 UNITED BISCUITS yesterday struck a deal to sell its subsidiary KP Snacks, the maker of Hula Hoops crisps, to Germany’s Intersnack, in a deal valued at around £500m. Blackstone and PAI Partners, the private equity owners of United Biscuits, put their salty snack division up for sale earlier this year, attracting interest from both rival [...]
What the other papers say this morning December 20, 2012 FINANCIAL TIMES Trafigura earns $1bn twice in a row Trafigura, the commodities trader, earned about $1bn for the second year running in 2012, indicating that the profitability of the world’s top houses that dominate raw materials has remained high in spite of slower economic growth in China. The privately held company, based in Geneva and [...]
FTSE 100 flat on US budget uncertainty December 4, 2012 The FTSE 100 was broadly flat in early trading as uncertainty continued over the fate of US budget talks to avert January’s so-called “fiscal cliff”. The White House has dismissed a budget deal proposal from congressional Republicans that included tax reforms and spending cuts, saying it did not meet President Barack Obama’s pledge to raise [...]
FTSE rallies in final trading hour as US budget talks show signs of deal November 28, 2012 BRITAIN’S top share index edged higher yesterday after a volatile session, as signs of potential compromise in US budget talks reversed early falls over fears that negotiations had stalled. The FTSE 100 initially extended losses in afternoon trading, with a weak US open and disappointing housing data compounding caution that had been instilled when a [...]