Pace of expansion slows in UK services February 3, 2010 HEAVY snow and a rise in sales tax led to an unexpected slowing in Britain’s service sector last month, but investors stuck with bets the Bank of England (BoE) would halt its pro-growth quantitative easing programme today. Separate surveys showing signs of revival in British consumer confidence and the labour market supported the view that [...]
US consumer confidence boosts late London trading May 26, 2009 BETTER than expected consumer confidence data out of the US gave the FTSE 100 a much-needed boost yesterday afternoon, after Asia’s sell-off – driven by concerns of heightening geopolictical tension on the Korean peninsula – infected the London markets in early trading. “Following the release of the US consumer confidence data there was an immediate [...]
Car sales jump 10.8 per cent July 6, 2010 UK new car sales rose 10.8 per cent in June compared with the same month last year, industry figures have shown. The rise came despite the end of the scrappage scheme. A total of 195,226 new cars were sold in June, the Society of Motor Manufacturers and Traders (SMMT) said. In the six months from [...]
BEST OF THE BROKERS July 8, 2010 PROVIDENT FINANCIAL Numis has issued a “buy” recommendation for Provident Financial and with the interim results coming up it details what it expects from the two core divisions: consumer credit and Vanquis. Overall, despite the current tough market conditions, Numis said it expects the group interim profits to be broadly flat. TOTAL UBS has raised [...]
Marston’s boosted by food sales January 28, 2010 PUB group Marston’s saw sales grow after a festive food boost – but the cold snap hit takings. Sales at managed pubs open more than a year were up 1.5 per cent in the 16 weeks to 3 January. That included a 2.9 per cent increase in the five weeks to 2 January – with [...]
Burberry smashes sales forecasts January 18, 2010 BURBERRY sales soared by 12 per cent in the three months to the end of the year – well above forecasts. The company took £380m over the period as it stripped out unprofitable lines and kept a tighter control on stock. Wholesale revenue – which comes from department stores that stock the group’s trademark red, [...]
US retail sales slip but revisions likely January 14, 2010 IN SPITE of a weak performance in December, US retail sales are starting to show signs of improvement as consumer confidence begins to return to the world’s largest economy. Fresh data released yesterday showed sales falling 0.3 per cent last month, but this was compared to an upwardly-revised 1.8 per cent November figure and analysts [...]
All Leisure battered by fuel price and currency swings January 25, 2010 ALL Leisure Group, the owner of luxury cruise ships such as the Hebridean Princess, said yesterday it managed to stay in the black for the past year, though it did not escape the punishing effects of the recession and adverse currency and fuel price movements. The group, which operates the Swan Hellenic and Voyages of [...]
Optimism seeps back to the City’s financial services firms January 18, 2010 THE financial services industry in London showed signs of optimism in 2009, with 39 per cent of businesses claiming to be more optimistic about their prospects this year, compared to 23 per cent in 2008. An improvement in sales was one reason for cheer, with 94 per cent of respondents reporting either stable or increased [...]
Stan Chart in line for $6bn June 28, 2010 STANDARD Chartered stayed on track to deliver around $6bn (£4bn) in full-year pre-tax profits yesterday as it said its consumer and wholesale divisions traded strongly in the first half. The London-listed bank, which focuses on Asia, said improving economic conditions and client confidence meant income and profits ran at record levels for the five months [...]