Ikea enjoys record year fuelled by Chinese and Russian shoppers September 10, 2015 Furniture giant Ikea reported another record year yesterday after enjoying strong demand for its flat-pack furniture across all markets. The Swedish company reported an 11 per cent increase in full-year sales to a record €31.9bn (£23.2bn) compared with the previous year. Sales at stores open more than a year grew by 5.1 per cent in [...]
Dunelm lifted by superstore expansion September 10, 2015 Dunelm posted a 13 per cent jump in full-year sales yesterday as its curtains, bed linen and other home accessories proved a hit with shoppers. The FTSE 250 homeware retailer, majority owned by the Adderley family, reported total revenues of £822.7m in the year to 4 July, up from £730.2m in 2014. Profit [...]
European Central Bank chief economist Peter Praet says low interest rates reflect “economic malaise” September 10, 2015 The European Central Bank's (ECB) chief economist Peter Praet has that low interest rates are due to "economic malaise" in the euro area and across world. He said the central bank's hand was forced by uncomfortably low inflation across the single currency bloc, as well as persistent weakness in the economy. "Low interest rates are ultimately [...]
Eurozone inflation beats expectations rising 0.3 per cent in May September 10, 2015 Eurozone prices rose for the first time in six months in May – ending a series of disappointing readings which had suggested the euro area risked falling into a damaging deflationary spiral. A flash estimate by the bloc's official statistics agency said euro area inflation was 0.3 per cent in May, beating analysts' estimates, and up from [...]
Living Wage: Morrisons boss Dave Potts joins Next, John Lewis and Whitbread in warning of extra staff costs September 10, 2015 The cost of the National Living Wage is stacking up rapidly. Morrisons has today admitted that the introduction of the government-imposed measure next year is going cost the supermarket group “10s of millions of pounds” on top of the costs the business is already battling with to turn itself around. From April next year, businesses [...]
Interest rates: Bank of England’s monetary policy committee urges caution on China as it votes 8-1 to hold interest rates in September September 10, 2015 Economic turbulence in China and developing markets prompted a “wait and see” approach among the UK’s nine-strong committee of rate-setters, according to minutes of their three-day meeting released today. The monetary policy committee (MPC) said it was too early to judge what impact a slowdown in China and emerging markets might have on the [...]
Deloitte helps graduates on its scheme with East Village flats in London September 10, 2015 Deloitte, one of the Big Four accountancy firms, is helping its new graduate intake navigate London's housing crisis by reserving more than 40 flats in the former Olympic Athletes’ Village. The firm has joined forces with Get Living London, owner and manager of privately rented homes at what's now the trendy East Village, to help junior staff [...]
Industrial production up in Spain but down in France September 10, 2015 Industrial production has jumped in Spain as its economy continues with its recovery, but it has dipped in France, raising further growth concerns for the Eurozone’s second biggest economy after it stalled in the three months to June. Production in Spain climbed 0.6 per cent in July and is now 5.2 per cent greater than [...]
Dixons Carphone share price rises two per cent as it hails strong start to the year September 10, 2015 Dixons Carphone is still going from strength to strength, as it consolidates its position in the sector following last year's merger. Dixons Carphone share price rose two per cent in mid-morning trading on the news. The figures Dixons Carphone reported group like-for-like revenues up eight per cent for the first quarter of the year ending [...]
Chinese economy: Premier Li Keqiang says China will reach economic targets September 10, 2015 China is on track to meet its economic targets for the year, despite fears of slowdown, the Chinese Premier Li Keqiang has said. Speaking at the World Economic Forum in Dalian, China, Li said there was not a risk of a hard landing due to government actions, despite a series of poor economic data and [...]