UK service sector growth slows in November December 3, 2010 GROWTH in UK service sector activity slipped back slightly in November, suggesting a slowdown in overall fourth-quarter economic output and no change to monetary policy anytime soon. The headline business activity index in the Markit/CIPS PMI index eased to 53.0 in November from October’s four-month high of 53.2 and bang in line with the forecast, [...]
Punch Taverns on track as summer sun boosts takings July 6, 2010 BRITAIN’S biggest pubs firm Punch Taverns yesterday reported an upturn – fuelled by the warm weather and World Cup football fans. The company, which has 7,100 pubs in the UK, said trading had been brisk in recent weeks. However, with debts of £3.2bn, Punch remained cautious about future trading. It said in a statement: “We [...]
Persimmon sees house sales rise July 6, 2010 HOUSEBUILDER Persimmon said total house sales and completions rose in the first half, despite slipping in recent months on election and budget uncertainty. The company, the UK’s largest housebuilder by market value, said legal completions in the first half increased by 16 per cent to 4,657 homes year-on-year, with the average selling price rising by [...]
Election fails to boost UK confidence May 27, 2010 BRITISH consumers have not yet been convinced that the new Lib-Con coalition government will boost either the general economy or their own personal finances, the May consumer confidence survey from GfK NOP will show today. The overall consumer confidence index dropped for a fourth consecutive month and fell by two points to -18, a similar [...]
WHAT IS YOUR OUTLOOK FOR RETAIL SALES IN 2010? June 7, 2010 JAMES KNIGHTLEY | ING “I think it is going to be very tough. We are concerned that real household disposable income is going to be negative this year thanks to flat wages, unemployment and higher taxes. Consumer confidence may also be slipping.” HOWARD ARCHER | IHS GLOBAL INSIGHT “Barring a sustained boost from England winning [...]
H&M hit by summer slump June 24, 2010 H&M yesterday reported that it could be forced to reduce prices to offload spring stock after unseasonally cool weather hit sales. The Swedish fashion retailer said demand in April and May was unexpectedly weak despite reporting a 24 per cent profit rise in the third quarter. It added that “this could lead to a higher [...]
FTSE shrugs off bank levy tax as it surges to 32-month high February 8, 2011 BRITAIN’S leading share index jumped higher yesterday, ending at levels not seen since May 2008, supported by rallies from banks and miners, and by gains in energy issues following results from BG Group. At the close, the FTSE 100 index was up 40.30 points, or 0.7 per cent at 6,091.33, its fifth gain in the [...]
Punch on track thanks to World Cup and sunshine July 6, 2010 BRITIAN’S biggest pubs firm Punch Tavern said it was on track to meet full-year expectations as trading was boosted by hot summer weather and the World Cup. The company, which has over 7,100 pubs, said trading during the World Cup had been brisk, helping sales at pubs open for more than a year grow in [...]
Another big year for China starts today February 2, 2011 TODAY is the first day of the Chinese year of the rabbit. And rather like rabbits, the world’s statesmen are caught in the glare of China’s ascent. Economists are falling over each other to predict when China’s nominal GDP will overtake America’s, while foreign policy wonks are weighing the implications. Goldman Sachs reckons it could [...]
CITY VIEWS: ARE YOU SPENDING MORE? May 20, 2010 DAVID KESBY | KESBY & COMPANY “I am spending more because business is better and I am more confident than I was a year ago when my business went through a dip. Although the retail index is up, consumer confidence is still wavering because there are still fears of a double dip.” DAVOR LALIC | [...]