Associated British Foods share price rises as Primark revenues jump

first_img Tags: Associated British Foods Company Primark Show Comments ▼ Joe Hall Tuesday 4 November 2014 2:48 am Shares in Primark parent company Associated British Foods (ABF) rose 1.65 per cent in early trading, as a “magnificent year” for Primark helped create record increases in earnings and profit before tax in its full-year results today. ABF chief executive George Weston said: “Primark’s trading success and significant expansion delivered another magnificent year.” Falling EU sugar prices hit ABF’s AB Sugar subsidiary, pushing revenue growth in its food business down, holding back the group’s profit growth. Overall, the group recorded revenue of £12.9bn for the year ended 13 September, £4.95bn of which came from Primark. That’s a 37.9 per cent contribution. ABF’s actual revenue dropped three per cent, but rose one per cent measured at constant currency. Adjusted operating profit was down one per cent to £1.63bn, but saw a two per cent rise at constant currency. Primark sales also rose 17 per cent compared to the previous year, as the retail giant opened 21 new stores around the world including its first in France. The company has plans to move into the north-east of the US next year. In a statement, Weston praised Primark’s performance, but indicated price deflation in food commodities held back the company’s growth potential. He said: A key influence on this year’s performance has been the impact on our food businesses of price deflation in some of our major commodities. As a consequence the growth in revenues achieved by our food businesses in recent years has not been sustained this year At Primark, a strong store opening programme, excellent buying, and higher sales densities in our new stores, all came together to drive revenues to within a fraction of £5bn. Revenue and profit in AB Sugar fell due to declining world sugar prices.  Revenue in AB sugar fell 22 per cent to £2.1bn, compared to £2.7bn at the same time last year. Adjusted operating profit plummeted 56 per cent to £189m, compared to £434m a year ago. Warren Ruhomon, senior analyst at Finspreads, said the full-year results may the best sign yet of a floor under ABF’s recent troubles. Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndozenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndoYahoo! SearchResearch Car Donation For CharitiesYahoo! SearchUndoThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsUndoinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekUndoEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorUndocenter_img whatsapp whatsapp More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comWhy people are finding dryer sheets in their mailboxesnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Associated British Foods share price rises as Primark revenues jump last_img read more

JP Morgan chief executive Jamie Dimon is “clear of cancer”

first_img More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Tags: Jamie Dimon JP Morgan Chase People JP Morgan chief executive Jamie Dimon is “clear of cancer” whatsapp JP Morgan boss Jame Dimon has told employees he is clear of throat cancer.In an internal memo sent to staff, the 58-year-old boss of the US’ largest bank said there was “no evidence of cancer left in my body” after CAT and PET scans three months after treatment. The good news is that the results came back completely clear, showing no evidence of cancer in my body. While the monitoring will continue for several years, the results are extremely positive and my prognosis remains excellent.Dimon was diagnosed with throat cancer in July, undergoing an eight-week course of radiation and chemotherapy, which he completed in September. Although he took time off to recuperate, he remained involved with the bank’s day-to-day activities.In October he resumed public appearances for the bank, telling Crain’s Chicago Business that “it hasn’t changed what I want to do with my life”. Could it? It could. I still love what I do and I still have to do something. I still want to make it a better world.In a note to shareholders at the time of his diagnosis, he said he had an “excellent prognosis”.Warren Buffett, who received treatment for prostate cancer in 2012, praised Dimon for the way he handled the public disclosure of his illness, wishing him well and advising him to “rest often”.  Emma Haslett whatsapp Friday 5 December 2014 10:28 am Share Show Comments ▼last_img read more

Baroness Scotland elected as city Alderman

first_img Express KCS Tuesday 9 December 2014 9:00 pm Tags: NULL Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Drake & Josh’ Star Drake Bell Arrested in Ohio on Attempted ChildThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap Baroness Scotland elected as city Alderman center_img whatsapp whatsapp Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveHero WarsThis game will keep you up all night!Hero WarsMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive SupplementNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus Eliminator Baroness Patricia Scotland was last night elected as an Alderman for Bishopsgate ward in the City, the first person of a black or minority ethnic background to win the coveted role and only the fourth woman in its 900 year history. She will be sworn in in January. last_img read more

Love is in the air – but is it in your borough? We crunch the numbers to find where most people are single in the UK

first_imgTuesday 6 January 2015 5:34 am Catherine Neilan You can’t turn on the TV without being invited to think of 2015 as the year you finally meet The One.Here at City A.M. we’re a cynical bunch and we think playing the numbers game is probably the best way forward. So we’ve crunched the numbers and found out where the most single men and women are throughout the country, and how the male-to-female ratio breaks down. Good news if you work in the City: you won’t have to travel far as London boroughs take up the top 17 spots. That’s mainly down to population density, of course.Islington has the most single men and women per square mile out of every local area in the country. The good news is they are fairly broadly matched: there are just over 12,477 single males for square mile compared with just over 12,885 females.Hackney and Tower Hamlets follow, with Kensington & Chelsea and Lambeth close behind. All five boroughs have around 10,000 singletons of either gender, which suggests central London is a good place to start.If you don’t fancy your luck in the capital, Manchester is the next best place to try, followed by Liverpool. Birmingham also scores relatively highly (if you’ll excuse the pun).If you are looking for love, you might want to give Devon a miss, though. It comes out with the lowest number of singletons per square mile – just 58 men and 61 women.They are similarly thin on the ground in Dorset, where there are just 75 single men and 79 single women per square mile.The maps below show the best places in the UK to find single people. Due to the larger number of women, the first map looks tilted in favour of single men looking for a partner. In the first map, we worked out the number of single people per square mile and then took one from the other to show where there are more singletons of either gender.   Love is in the air – but is it in your borough? We crunch the numbers to find where most people are single in the UK whatsappcenter_img Share Tags: NULL whatsapp Show Comments ▼last_img read more

David Cameron renews pledge to lead UK to full employment, but what is it?

first_img whatsapp Billy Ehrenberg Share whatsapp Monday 19 January 2015 5:23 am More From Our Partners Fort Bragg soldier accused of killing another servicewoman over exthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.com Tags: David Cameron employment and wages People UK jobs David Cameron has said that he and the Conservatives are committed to full employment in Britain. The UK, Cameron said, would be a “jobs factory,” with benefit caps lowered and immigrants’ access to welfare limited.To achieve this goal, Cameron pledged to help small businesses, saying: “we’re the party of the roofers and the retailers; the builders and the businesswomen.” The Conservatives’ manifesto plans will include tripling the number of start up loans available to new businesses, from 25,000 to 75,000, and the creation of 3m new apprenticeships. This, the party hopes, will drag the UK towards full employment and above the competition. The competition is considered to be the G7 group of nations, of which Germany has the highest employment rate, at 74.2 per cent. This would mean the UK raising its current rate from 72.2 per cent to above this threshold. What is full employment?Full employment doesn’t mean an unemployment rate of zero per cent. This would be bad for the economy as in such a situation workers would have more dispoible income, which would drive inflation. This rate, the non-accelerating rnflation rate of unemployment, or NAIRU, is considered to be around five per cent, one percentage point lower than the current six per cent. Of course saying that wouldn’t have been good politics and so Cameron, instead of dwelling on the complexities of the figures, said:Full employment may be an economic term, but this is what it means in human terms: it means more of our fellow men and women with the security of a regular wage; it means you, your family and your children having a job and getting on in life.How does the UK compare in Europe?Cameron also said that the UK will be the “jobs factory of Europe,” promising to limit immigrants’ access to welfare and the highest employment rate of any world economy.In terms of its place in the EU, the UK is strong but not exceptional. According to Eurostat, the statistical office of the European Union, the UK had an employment rate of 72.2 per cent in the third quarter of 2013. This puts it ahead of the EU average of 65.5, but behind the leaders.   Show Comments ▼ David Cameron renews pledge to lead UK to full employment, but what is it? last_img read more

Starbucks share price jumps 3.5 per cent after positive third-quarter results

first_img whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorGundry MD Bio Complete 3 SupplementTop Surgeon: This Simple Trick Empties Your Bowels Every Morning (Almost Immediately)Gundry MD Bio Complete 3 SupplementBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDBeach RaiderMom Belly Keeps Growing, Doctor Sees Scan And Calls CopsBeach RaiderVikings: Free Online GameIf you’re over 50 – this game is a must!Vikings: Free Online GameDefinitionThe Most Famous Movie Filmed In Every U.S. StateDefinition Starbucks share price jumps 3.5 per cent after positive third-quarter results Thursday 22 January 2015 4:54 pm More From Our Partners Sidney Crosby, Alex Ovechkin are graying and frayingnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comcenter_img Jessica Morris whatsapp Share Starbucks share price jumped as much as 3.5 per cent in after-hours trade today, as the coffee chain released an upbeat earnings report for the fiscal first quarter.Profits at Starbucks for the Christmas period soared 82 per cent to $9.8bn (£6.5) year-on-year, which was in line with expectations. Sales rose 13.2 per cent to $4.8bn ($3.2bn). The main drivers were sales in the Americas which were up 20 per cent from a year earlier. Meanwhile, sales in China and Asia Pacific rocketed 86 per cent after Starbucks acquired its Japanese operation.This was offset slightly by sales in Europe, the Middle East and Africa which fell two per cent on unfavourable foreign exchange rates due to the strength of the US dollar. The US dollar index, which measures the greenback against a basket of other currencies, has climbed 14 per cent over the last year.US same-store sales slightly beat analyst expectations rising 5 per cent, helping to dampen concerns the coffee chain’s increasing focus on food isn’t appealing to customers. It’s previously pledged to double sales for its food arm in the US over the next five years.Howard Schultz, chairman, president and chief executive said:Our reimagined in-store holiday experience that included a vastly expanded assortment of Starbucks Cards, new holiday food, beverage and merchandise offerings and the opportunity to win ‘Starbucks for Life’ resonated powerfully with our customers and drove both increased traffic and tremendous excitement in our stores and around the Starbucks brand. Tags: Starbuckslast_img read more

Lenta puts the brakes on expansion plans

first_img Lenta puts the brakes on expansion plans whatsapp Share whatsapp Thursday 29 January 2015 8:42 pm Read This NextYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCreamy Pumpkin Soup: Delicious Recipes Worth CookingFamily Proofcenter_img Express KCS Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldGive It LoveRemember These Rare Sisters? See Them NowGive It Lovezenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive Supplement RUSSIAN hypermarket chain Lenta said yesterday it would open fewer stores in 2015 than last year due to the high cost of debt and a weak economy. It still plans to double selling space by the end of 2016, a commitment it made when listing shares in London last year.Lenta’s sales grew 30.6 per cent in the fourth quarter to 59.5bn roubles (£571m). Tags: NULLlast_img read more

Construction recovery boosts growth outlook

first_img Tags: Construction industry whatsapp Express KCS Tuesday 3 February 2015 8:51 pm Share Construction recovery boosts growth outlook whatsapp Show Comments ▼ THE UK’s construction industry rebounded in January following a recent lull in activity, new survey data shows.It may provide a significant boost to GDP in 2015 after a poor construction output reading slowed growth in the final three months of 2014.The purchasing managers’ index (PMI) – a survey of private sector firms compiled by Markit – rose to a score of 59.1 for January, up from 57.6 in December, according to figures released yesterday.A score above 50 signifies growth. One of the strongest contributors to the recovery in the construction PMI was house building, Markit said. The research firm added that commercial property construction activity was robust.“After the disappointing end to last year and the drop in the industry’s fortunes, the construction sector has had a perky start with good activity across all sectors,” said David Noble, chief executive at the Chartered Institute of Procurement and Supply.The UK’s economic growth slowed to a three-month on three-month rate of 0.5 per cent in the final three months of 2014, held back largely by a 1.8 per cent decline in construction sector output.“The data suggest that there may be some rebound in construction activity between January and March 2015, which would support GDP growth,” said Colin Bermingham, an economist at investment bank BNP Paribas.A PMI for the UK’s manufacturing sector also ticked up on Monday, to 53 in January from December’s 52.7.However, the UK’s biggest sector is services, which comprises about 79 per cent of the UK’s total output.The PMI for the service sector is released today. Bermingham expects its PMI score to rebound to a score of 57 from December’s three point drop to 55.8. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Prooflast_img read more

Bank of England’s Mark Carney: Interest rate cut is possible as UK heads toward deflation

first_img More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Show Comments ▼ whatsapp Bank of England’s Mark Carney: Interest rate cut is possible as UK heads toward deflation Bank of England governor Mark Carney revealed yesterday that interest rates could drop even further below their historic low of 0.5 per cent, as the collapse in global oil prices drags Britain towards deflation.In a mandatory letter to chancellor George Osborne, Carney said that if “global activity continues to disappoint, or if low inflation were to depress inflation expectations, it could become self-reinforcing.”Rates have been 0.5 per cent for 71 months, and it had been thought this was rock bottom. Yet Carney said his monetary policy committee could “cut Bank rate further towards zero” or do more quantitative easing. He said banks are now better capitalised than before, and therefore are more capable of taking a hit to their revenues that could accrue from a cut to rates. Inflation is more likely than not to fall below zero in the coming months, the Bank of England said in its inflation report yesterday.December’s reading for inflation was 0.5 per cent as measured by annual growth in the consumer price index (CPI) – calculated from the price of a basket of goods. However, Carney played down overall deflationary fears in the UK.“A temporary period of falling prices driven by large adjustments in a few specific components of the CPI is a fundamentally distinct phenomenon from ‘deflation’,” he said.The Bank raised its forecast for what inflation would be in two years time. Its growth forecast for this year remains at 2.9 per cent but next year’s forecast has been revised up from 2.5 per cent to 2.9 per cent.“February’s Bank of England Inflation Report confirmed that deflation is now on the horizon, but that it will be fairly short-lived,” said Vicky Redwood, chief UK economist at Capital Economics. “Indeed, the stronger medium-term inflation forecast was a warning to financial markets that they may have pushed their expectations for the first rate hike too far into the future.”Rob Killeen, business manager at London mortgage brokers Capital Fortune has urged people to consider remortgaging now while rates are low. Killeen believes there’s some complacency among some mortgage borrowers, who should seek to lock in interest rates while they are at record lows.“Our research shows that the average rate people are paying across the top 10 lenders – who control maybe 92 per cent of the mortgage market – is 4.6 per cent,” he told City A.M., pointing out that fixed rates could currently be locked in for rates as low as 1.29 per cent.Meanwhile Sweden yesterday cut its key interest rate to minus 0.1 per cent from zero per cent. It also launched a programme of quantitative easing worth 10bn kronor (£0.77bn). Swedish annual inflation stood at minus 0.3 per cent in January. Swedish central bank chief Stefan Ingves said it is prepared to cut rates even more: “Should this not be enough, we want to be very clear that we are ready to do more.”Some economists believe Europe could be set for a 1930s-esque situation whereby central banks vie to devalue their currencies.Denmark has also been cutting rates – it cut for the fourth time in three weeks last week to minus 0.75 per cent, but is yet to move again this week. Both central banks have had to react to a large scale asset purchase programme by the European Central Bank that has weakened the euro and destabilised their exchange rates. Share Thursday 12 February 2015 9:36 pm whatsapp Express KCS Tags: Bank of England Mark Carney Oil prices People UK inflationlast_img read more

Danone’s outlook for the year sours amid economic turmoil in Europe

first_img Sarah Spickernell Show Comments ▼ Danone’s outlook for the year sours amid economic turmoil in Europe  Danone didn’t do badly last year, but even yoghurt isn’t immune to the economic and political tensions of Europe. The figuresFull-year revenue for Danone in 2014 was €21.1bn (£15.5bn), largely in line with the company’s estimates. Similarly, its full-year sales growth of 4.7 per cent will cause no alarm – although it was slightly towards the lower end of the 4.5–5.5 per cent range predicted in October.  Prospects seemed to brighten more in the fourth quarter, however, as sales increased by 7.5 per cent, which beat forecasts of seven per cent.  But the apparently positive results have not lifted forecasts for 2015, with outlook lower than it was for 2014. Danone said it expects only “slight growth” with sales expected to rise between four and five per cent on a like-for-like basis.  “We anticipate an ongoing difficult and unstable environment,” said Emmanuel Faber, the company’s chief executive. Why it’s interestingThe French dairy company hasn’t had a bad six months up until now, with positive fourth quarter results indicating an upward trend for the multinational business. Share price, which is up almost €10 compared with this time last year, tells a similar story.  But economic tension in the Eurozone, heightened recently by the possible exit of Greece from the single currency zone, is causing difficulties for Danone in the region. However, things are going well beyond Europe’s shore, as results reveal some progress in Asian and African markets. While annual sales rose just two per cent in Europe, they rose 7.4 per cent in emerging markets. What Danone saidIn a statement, Danone said: Danone assumes that economic conditions will remain difficult and unstable overall, with fragile or even deflationary consumer trends in Europe, emerging markets undermined by volatile currencies, and difficulties specific to a few major markets. In shortWhile deflationary pressures hold back market opportunities for Danone in Europe, its sales elsewhere are growing. The company’s fourth-year results shed a positive light on its prospects abroad, but outlook for 2015 has failed to live up to its 2014 level.   Friday 20 February 2015 2:41 am whatsapp Share whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Weekzenherald.com20 Rules Genghis Khan’s Army Had To Live Byzenherald.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesComedyAbandoned Submarines Floating Around the WorldComedyPost FunGreat Songs That Artists Are Now Embarrassed OfPost FunTheFashionBallPrince Harry Admits Meghan Markle May Not Be The OneTheFashionBallSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteabley Tags: NULLlast_img read more