Kingfisher sales drop offset by cost-cutting July 22, 2010 B&Q owner Kingfisher said it was on track to meet first-half profit expectations, with cost cutting and business improvement measures offsetting a dip in underlying sales. The firm, which also operates the Castorama and Brico Depot chains in France, said sales at stores open at least a year fell 0.8 per cent in the 10 [...]
kingfisher sales drop offset by cost-cutting July 22, 2010 B&Q owner KIngfisher said it was on track to meet first-half profit expectations, with cost cutting and business improvement measures offsetting a dip in underlying sales. The firm, which also operates the Castorama and Brico Depot chains in France, said sales at stores open at least a year fell 0.8 per cent in the 10 [...]
A bonanza of fresh, cheap funds for the retail investor November 3, 2010 HSBC is planning another series of emerging market exchange traded fund (ETF) launches as the price war in ETFs intensifies. Retail investor confidence in using funds tracking more exotic indices is growing and HSBC is cranking up its aggression with planned launches in the first half of 2011 tracking the MSCI India, MSCI Emerging Asia [...]
FTSE rocked as mining shares fall on commodity price drop February 23, 2010 BRITAIN’S top shares shed 0.7 per cent yesterday, tracking early falls on Wall Street and pressured by weaker miners and energy issues as commodity prices fell with a firmer dollar after dull data. At the close, the FTSE 100 was 36.98 points lower at 5,315.09, having hit a one-month high earlier in the session. US [...]
Hannover Re hit by pricing pressure fear August 10, 2010 Hannover Re yesterday joined a wave of European insurance players reporting forecast-beating results as rising premiums amid economic recovery offset high damage claims. However, analysts expressed worry about Hannover’s underwriting performance in the second quarter and the prospect of reinsurance prices coming under pressure, contributing to a fall in Hannover’s shares which closed six per [...]
L’Oreal says it will return to profit this year as consumers hit shops July 12, 2010 Luxury cosmetics group L’Oreal posted higher sales in the second quarter helped by emerging markets and positive currency effects, confirming a recovery in consumer spending. Second quarter revenues climbed 5.2 per cent to €4.9bn (£4.1bn) on a like-for-like basis, slightly ahead of analysts expectations. L’Oreal, which sells Garnier shampoo and Vichy facial creams, does not [...]
Retailers hit by worst January in 15 years as snow and VAT hike take toll February 8, 2010 THE UK high street shuddered last month as retailers suffered their worst January in 15 years due to snow and a lack of consumer confidence, the British Retail Consortium (BRC) will say today. Underlying sales values for January fell 0.7 per cent compared to a 2.6 per cent rise the year before. On a total [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 27, 2010 FINANCIAL TIMES BRAZIL IN GLOBAL CURRENCY WAR’ ALERT An “interntaional currency war” has broken out according to Guido Mantega, Brazil’s finance minister, as governments around the world comcompete to power their exhange rates to boost competiveness. Mantega’s comments in Sao Paulo follow a series of interventions by central banks in Japan, South Korea and Taiwan [...]
Reckitt defies recession with annual profit surge February 10, 2010 RECKITT Benckiser, which makes products including Nurofen, saw profits jump by 23 per cent last year despite the recession. The company said 2009 had been a good year and predicted growth in 2010. Reckitt’s drug Suboxone – a heroin substitute – accounted for 16 per cent of the profits. “Our five per cent target is [...]
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 [...]