John Lewis in sharp sales rise January 21, 2011 Sales growth at department store chain John Lewis slowed dramatically last week as consumers tightened their belts after spending freely in the post-Christmas sales. The employee-owned retailer, which also runs upmarket grocery chain Waitrose, said on Friday department store sales increased 4.1 per cent to £55.8m in the week to January 15. Sales in the [...]
Pound jumps as City A.M. reveals more momentum behind rise in interest rates February 2, 2011 STERLING jumped to a three-month high against the dollar yesterday, after markets reacted to hawkish comments from Bank of England rate setters Andrew Sentance and Charles Bean. In an exclusive interview in City A.M. yesterday, Sentance suggested that the Bank’s monetary policy committee (MPC) was getting closer to a rise in interest rates as inflation [...]
Treasury must lead growth with confidence February 2, 2011 HEADS were noticeably weary at the World Economic Forum in Davos last week. Not from alcohol – the receptions were restrained – but at the banker bashing. “I am so bored of it. It’s time to talk about the future not the past” was a typical comment. Of course, you would expect the masters of [...]
Tight credit conditions kept lending subdued last month July 20, 2010 BRITISH firms and households still face tight credit conditions despite an overall improvement in economic activity, the Bank of England’s Trends in Lending report revealed yesterday. Net lending to businesses fell for the third consecutive month in May and by £2.3bn, worse than April’s £1.1bn. But the annual decline eased to 8.1 per cent from [...]
London hit by house price drop July 13, 2010 HOUSE prices in Britain rose by 0.7 per cent in May on the previous month, pushing the annual increase up to 11 per cent, the Department for Communities and Local Government (DCLG) said yesterday. Consequently, the mix-adjusted average house price in the UK stood at £209,505 in May 2010. Annual average house prices paid by [...]
London hit by house price drop July 13, 2010 HOUSE prices in Britain rose by 0.7 per cent in May on the previous month, pushing the annual increase up to 11 per cent, the Department for Communities and Local Government (DCLG) said yesterday. Consequently, the mix-adjusted average house price in the UK stood at £209,505 in May 2010. Annual average house prices paid by [...]
What the other papers say this morning February 13, 2011 FINANCIAL TIMES SIEMENS EYES BIG NETWORK PURCHASES Siemens is looking out for large acquisitions to expand its power networks and plant automation businesses, in a fundamental strategic shift by the German industrial conglomerate. Joe Kaeser, Siemens’ chief financial officer, said Europe’s largest engineering group by sales had reached the “management maturity” to pursue significant takeovers. [...]
FTSE bounces in New Year rally January 4, 2011 POSITIVE economic news from across the globe saw a sharp rise in London stocks, with the FTSE jumping above the psychologically-important 6,000 barrier. It finished the day up almost two per cent at 6,013.87 – its highest close since the start of June 2008. And US markets also reacted positively after being reassured by the [...]
FTSE bounces in New Year rally January 4, 2011 POSITIVE economic news from across the globe saw a sharp rise in London stocks, with the FTSE jumping above the psychologically-important 6,000 barrier. It finished the day up almost two per cent at 6,013.87 – its highest close since the start of June 2008. And US markets also reacted positively after being reassured by the [...]
Why 2011 won’t be too bad after all January 3, 2011 FORECASTING may be a mug’s game but it is unavoidable at this time of the year. So here are a few of my predictions for 2011, together with some key themes to look out for and some lessons from last year. I was right to be sanguine about 2010’s UK growth prospects; the daily warnings [...]