Metro losses narrow after cost cutting May 3, 2011 RETAIL giant Metro yesterday posted a smaller than expected first-quarter loss after closing stores to slash costs. The net loss narrowed to €3m (£2.6m), compared with €16m in the same period last year. Metro, which runs cash and carries, hypermarkets, electricals and department stores, said first-quarter sales were flat at €15.52bn. The world’s fourth largest [...]
FTSE buoyed by Glencore as IMF chief quits May 19, 2011 The FTSE 100 climbed this morning as commodities giant Glencore made its debut, helping to buoy European markets. But an announcement that IMF chief Dominique Strauss-Kahn was standing down over assault charges in the US was the talk of the markets as the hunt for a successor starts. The re-building of the eurozone’s finances was [...]
US retail sales rise and wholesale prices fall November 15, 2011 Retail sales and manufacturing output data from the US offers a heartening picture of gradual pick-up in the economy in the final months of the year. US. retail sales rose broadly in October, suggesting the US started the fourth quarter with some vigour, and the first drop in wholesale prices in four months has pointed [...]
Dixons warns on profits for second time March 30, 2011 DIXONS Retail, the owner of Currys and PC World, yesterday said it would slash costs as it issued its second profit warning in three months. The firm said consumer confidence had deteriorated since the start of the year, especially in the UK and Ireland, hitting sales of big ticket electrical items such as flat screen [...]
IAG to acquire bmi November 4, 2011 International Airlines Group is to buy Lufthansa’s British unit bmi to boost growth prospects at its Heathrow hub at a time when airline profits are falling due to higher fuel costs. The announcement came as IAG reported a 31 per cent fall in third-quarter profit, better than expected and outperforming peers, with analysts expecting a [...]
No holiday in sight for Club Med debtors October 30, 2011 KATHLEEN BROOKS | FOREX.COM Italy’s debt auction on Friday reminded us that the Eurozone’s third largest economy is still its weakest link. It had to pay the highest price since joining the euro-area to sell 10-year bonds, as investors’ charged a higher risk premium to hold Rome’s debt, 6.06 per cent. So far this year [...]
No holiday in sight for Club Med debtors October 30, 2011 KATHLEEN BROOKS | FOREX.COM Italy’s debt auction on Friday reminded us that the Eurozone’s third largest economy is still its weakest link. It had to pay the highest price since joining the euro-area to sell 10-year bonds, as investors’ charged a higher risk premium to hold Rome’s debt, 6.06 per cent. So far this year [...]
John Lewis sales fall sparks retail fears March 18, 2011 Sales figures from the John Lewis department stores show a “substantial softening in trade”, economists have said, as consumer confidence falls and the VAT rise takes effect. The latest weekly sales data shows a 1.8 per cent year-on-year fall in the week to 12 March and leaves department store sales up just 1.6 per cent [...]
Banks, businesses and unions give their views on the Autumn Statement November 29, 2011 THE BRITISH BANKERS’ ASSOCIATION The BBA is the leading trade association for the UK banking and financial services sector, speaking for over 200 member banks DIRECTOR GENERAL ANGELA KNIGHT “This Autumn Statement makes a serious addition to the large sums already being lent to the business community by the banks. With the Eurozone crisis putting [...]
Banks, businesses and unions give their views on the Autumn Statement November 29, 2011 THE BRITISH BANKERS’ ASSOCIATION The BBA is the leading trade association for the UK banking and financial services sector, speaking for over 200 member banks DIRECTOR GENERAL ANGELA KNIGHT “This Autumn Statement makes a serious addition to the large sums already being lent to the business community by the banks. With the Eurozone crisis putting [...]