De La Rue stumped for an answer

first_img Share Thursday 12 August 2010 8:29 pm whatsapp whatsapp De La Rue stumped for an answer KCS-content Tags: NULL IN the 1930s the bank note manufacturer De la Rue created a number of boardgames, including a cricket game called Stumpz. Yesterday its chief executive James Hussey was well and truly stumped as he resigned with immediate effect following the discovery last month of serious problems with the group’s paper production operations.What makes this corporate news so shocking is that De La Rue is anything but a fly by night company. It was founded in 1813, it has won 11 Queen’s Awards, it’s in the FTSE 250 and it prints currencies for 150 governments (and has many other businesses).Its investors hold shares in the group because of its consistency, its high dividend payout and over the past few years its decision to exit peripheral investments such as its stake in the lottery owner Camelot. Its current predicament shows that, as with the recent BP problems, there is nothing risk free in investing in individual equities.Naturally De La Rue investors are pretty shocked by the group’s current problems, which began on 20 July with a revelation that it had identified quality and production irregularities at one of its paper production facilities. Investor irritation is intensified by the fact that as recently as June the group was giving a presentation to its brokers at JP Morgan?Cazenove at which it was notably upbeat about trading and likely results. Its shares then traded at the dizzy heights of 943p. By yesterday the shares were down to 711p after falling around 10 per cent.Analysts, such as Paul Jones at Panmure Gordon and Alex Hugh of UBS, are concerned about the likely effect of Hussey’s resignation on future orders as well as on the group’s reputation. Hussey, who had been with De La Rue for more than 20 years, had a fantastic contacts book and his departure leaves a void.In the short term finance director Colin Child will be taking additional responsibilities as chief operating officer but he has only been with the group for a few weeks and his experience beforehand lies in a different field.De La Rue needs to complete its investigation into the paper problems as soon as possible so that it can inform the market of the financial implications of this unfortunate affair. The worst thing in these types of situations is if information drips out bit by bit. The fewer leaks and fewer company statements the better, or else investors’ nerves become more frayed.And by the way, just in case you think the banknotes in your pocket are feeling especially flimsy, the group said yesterday that its problems do not concern either its production of sterling or euro notes. It’s a shame it could not have been equally forthcoming about the financial effect of its recent problems. CORPORATE HOSPITALITYI for one can not wait for the start of the football season again tomorrow. It seems ages since the last one finished all those weeks ago (OK. It is only a month since the World Cup).Just one suggestion for the capital’s top clubs. Why not give over all those unsold corporate seats to local schools or charities? Have a great weekend. [email protected] Allister Heath is away Show Comments ▼ More From Our Partners I blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org last_img read more

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Moss Bros plots return to profit

first_imgWednesday 29 September 2010 4:17 am That compared with a loss of £3m in the same= period last year – but the firm said it was on track to meet full-year forecasts.The loss came despite a 7.9 per cent rise in revenue to £65.6m, with sales at stores open at least a year up 11.6 per cent.Moss Bros said like-for-like sales in the first eight weeks of the second-half showed an improvement on last year, with gross margin slightly higher.It has new deals with Ted Baker and French connection which it hopes will help bring profits back. John Dunne by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Menswear retailer Moss Bros posted a wider first-half loss but said trading was improving under a new management team.The group, which also runs the Cecil Gee and Savoy Taylors Guild chains and the British franchise of Hugo Boss, said it made a pre-tax loss of £3.3m for the six months to 31 July. Tags: NULL Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Moss Bros plots return to profit whatsapp Show Comments ▼ whatsapplast_img read more

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Brit set to announce takeover

first_img Share Monday 25 October 2010 8:35 pm whatsapp More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.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 Brit set to announce takeover Show Comments ▼center_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDiscovery23+ Sports Stadiums Around the World That Are Abandoned NowDiscoveryZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm whatsapp Brit Insurance is expected to announce its £870m sale to private equity pair Apollo and CVC Capital today, at the same time as its third-quarter results. The Lloyd’s of London insurer and sponsor of the England cricket team agreed a deal in principle in September, with the joint buyers paying £10.45 a share. KCS-content last_img read more

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Obama defends US dollar policy ahead of G20

first_img Show Comments ▼ Obama defends US dollar policy ahead of G20 Share Wednesday 10 November 2010 8:30 pm US PRESIDENT Barack Obama responded to widespread criticism that the United States is deliberately weakening the dollar as he tried to swing the G20 spotlight back onto global imbalances at a gathering of world leaders in Seoul.The US easy-money policy has been under fire since the Federal Reserve announced last week it would pump an additional $600bn (£372.4bn) into the economy. In an attempt to ease tensions, Treasury secretary Timothy Geithner said he was optimistic the G20 could reach a deal to limit trade imbalances during a two-day summit due to conclude today. Obama, in an attempt to take his own country’s policies out of the glare, said a strong US economy was vital to the global recovery and urged his G20 counterparts to put aside differences and help promote economic growth.“When all nations do their part – emerging no less than advanced, surplus no less than deficit – we all benefit from higher growth,” Obama said in a letter sent to G20 leaders.The bridge-building came after a day of heated arguments as negotiators struggled to hammer out a statement that all G20 leaders could sign. whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndocenter_img KCS-content whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULLlast_img read more

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Cowen faces fresh calls to quit as PM

first_imgTuesday 23 November 2010 9:02 pm Tags: NULL IRISH Prime Minister Brian Cowen looked every inch the defeated man yesterday as he was bombarded from all sides over his handling of the financial crisis that will eventually lead to an expected €85bn (£77bn) bailout.MPs from all parties, including his own, spent the day plotting how best to bring about his early demise, as fear mounted that the four-year austerity plan, a precondition of the bailout and due to be published today, could be voted down on 7 December.Brussels showed the first signs it is losing patience with the political upheaval. Olli Rehn, the EU’s commissioner for monetary affairs, told MEPs in Strasbourg: “It is essential that Ireland will pass the budget in the timeline foreseen and certainly sooner rather than later because every day that is lost increases uncertainty. Let’s adopt the budget, let’s get it out of the way, and let’s move on.”Mutinous backbench MPs from Cowen’s own party were last night plotting a coup against their beleaguered leader. Noel O’Flynn said he felt “betrayed and humiliated” by the PM’s handling of the crisis, claiming there were “no excuses” for the government denying the bailout last week.Another, John McGuinness, added: “There’s serious discontent within the parliamentary party. It’s now up to those who’ve spoken out to take action to remove that man [Cowen] immediately.”Opposition party Sinn Fein tabled a motion of no confidence, urging MPs from all parties to force Cowen to fall on his own sword before the key budget vote on 7 December.The usually combative Cowen was forced to make a series of grovelling phone calls to leaders of the rival parties, urging them not to vote against his austerity budget. Opposition MPs have demanded to be consulted on the budget, saying Cowen’s party will not be in power to implement it. With a parliamentary majority of just three and a seat almost certain to fall at a by election tomorrow, Cowen is desperate to avoid a rejection of the bill that would plunge Ireland into an even greater fiscal crisis. Fine Gael leader Enda Kenny later urged Cowen to bring the budget vote forward to next week, allowing Cowen to call a general election in January. But the Fianna Fáil leader rejected the calls, claiming it is essential Ireland waits until tax information is collected before the 2011 budget is finalised. If Cowen remains in power until the budgetary process is complete an election is likely to be held in late February at the earliest. Share Show Comments ▼ Cowen faces fresh calls to quit as PM center_img KCS-content whatsapp whatsapplast_img read more

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Disasters cost world £168bn

first_img Share Tuesday 30 November 2010 8:06 pm whatsapp KCS-content DISASTERS worldwide caused economic losses of more than $200bn (£128bn) in 2010, reinsurer Swiss Re reported yesterday.Natural catastrophes and man-made disasters, including earthquakes in Haiti and New Zealand and the Deepwater Horizon oil spill, caused economic losses of $220bn (£168bn), more than triple 2009’s $63bn level.The events caused about 260,000 deaths over the year, the highest number since 1976, according to the report from Swiss Re’s sigma team.Insurers covered losses of $36bn arising from the year’s disasters, an increase of 34 per cent on 2009, but broadly in line with the 20-year average, said Lucia Bevere, an author of the report. Eight disasters over the year generated losses to insurers of more than $1bn each, with the earthquake to hit Chile in February most costly, at an estimated $8bn.But the report exposes a wide disparity between insured losses in more developed markets such as Chile and New Zealand, and the huge human losses in countries such as Haiti or Pakistan left without remedy. China experienced three of the six most fatal disasters registered this year as a result of monsoon floods and mudslides but is not featuring among insurers’ largest covered losses, as people and institutions are under-insured. Bevere said insurers could help shift the balance of costs from post-disaster management to protection, lowering the cost of the event. Insurers should keep working to increase their coverage in developing countries to ensure victims of disasters are not left to bear all costs. “Insurance means people will not be left alone in facing the financial consequences of a disaster,” she said. Disasters cost world £168bn center_img Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Tags: NULLlast_img read more

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WOMEN ON BOARDS: HEALTHY FOR BOYS, GIRLS AND THE BOTTOM LINE

first_img whatsapp Show Comments ▼ whatsapp FOLLOWING the formation of the 30 Per Cent Club last month, which aims to get women filling 30 per cent of boardroom seats, shocking new research will hit City bookshelves this week, revealing what we at The Capitalist already suspected: upping the number of women in the boardroom is good for profits. The findings are released in a new book called Coaching Women to Lead, written by White Water Strategies’ trio, Averil Leimon, François Moscovici and Helen Goodier.They purport to show that a more even male-female balance at the top could make companies 11 per cent better-off, but only if women can be coaxed out of their demure shells with confidence-boosting methods and tips for addressing work-life-balance.And companies might have to expand their sights outside the usual men in suits: with the baby boomers about to sail off into retirement, 650,000 senior posts will be left vacant next year alone – making it a good time for ambitious women with their sights set on the top.MANDY’S SPARKLESurfacing after his recent appearance on BBC documentary, Mandelson: The Real PM? (fresh off the yacht in Corfu if his banter with chancellor George Osborne is to be believed) former business secretary Lord Mandelson will be doing the book promotion rounds in the heart of the City this week. Perhaps in an attempt to recapture some of the “Mandelsonian sparkle” that documentary-maker Hannah Rothschild rather cruelly claimed he had lost at the end of the film, Mandy will be signing and selling his political memoir The Third Man at Daunt Books over lunchtime on Thursday.The perfect accompaniment to a Pret sandwich, surely?The Capitalist can’t help but wonder if RBS chief executive Stephen Hester, spotted by yours truly having a very friendly chinwag with the dark prince at the Finsbury annual party last month, will be popping by. IN THE MUDThe Oxford-Cambridge rugby teams’ annual varsity match, sponsored by Nomura, will kick off on Thursday this week at Twickenham.And you can expect to spy several top execs from the company on the terraces. Nomura chief of operations and wholesale president Jesse Bhattal will be joined by chief administrative officers of wholesale Paul Spanswick and John Phizackerley, hopefully keeping themselves safely away from the compelling mud and muscles combo on the pitch.Time for City Oxbridge alumni to place their bets. Sunday 5 December 2010 10:33 pm WOMEN ON BOARDS: HEALTHY FOR BOYS, GIRLS AND THE BOTTOM LINE center_img Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndoHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndo KCS-content More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Tags: NULLlast_img read more

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OECD: Reform taxes for recovery

first_imgWednesday 8 December 2010 8:16 pm Governments must reform their tax regimes if they are to avoid stunting the economic recovery, the Organisation for Economic Co-operation and Development (OECD) said yesterday. Taxes on consumption and residential property tax are less harmful than personal and corporate income taxes, they said. whatsapp OECD: Reform taxes for recovery Share whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldcenter_img Show Comments ▼ KCS-content More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.com Tags: NULLlast_img read more

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Regal board backs £77m offer from Energees

first_imgMonday 13 December 2010 8:05 pm Tags: NULL More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comConnecticut man dies after crashing Harley into live bearnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com whatsapp OIL explorer Regal Petroleum said yesterday it would recommend shareholders accept a £77m ($121.5m) takeover offer from Energees Investments as Cyprus-based Heamoor said it was considering making a competing bid.Ukraine-focused Regal said the offer price was 24p a share, a 30 per cent premium to the company’s closing share price of 18.5p on 9 December.The board “intends unanimously to recommend shareholders accept the proposed offer,” said Keith Henry, chairman of Regal. “The offer provides greater certainty of value to Regal shareholders during this difficult time for the company.”Following the announcement, Energees Investments said it was considering its options to deliver a more attractive cash offer, as well as a potential combination of Regal assets with Ukrainian gas producer Geo-Alliance Oil-Gas. Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmcenter_img whatsapp Regal board backs £77m offer from Energees KCS-content Show Comments ▼last_img read more

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UK’s retailers struggle with price inflation

first_imgTuesday 11 January 2011 7:47 pm whatsapp Tags: NULL Share KCS-content SHOPS are battling the effects of rising inflation, the British Retail Consortium (BRC) announced today.Shop price inflation hit 2.1 per cent last month, the group said, up from two per cent in November.The rate will concern consumers, but is “well below the wider consumer price index” (CPI) as retailers absorb the effects of rising prices, said the BRC’s Stephen Robertson.Competitive pressures have prevented companies from passing the full impact of price rises on to customers, recent surveys reveal.“Due to upward pressure on cost prices, retailers have had to work even harder to encourage cash-strapped customers to keep shopping,” added Mike Watkins of research group Nielsen.In November, CPI inflation reached 3.3 per cent in the UK, and is expected to hit four per cent in the next three months, according to ING.And across the Eurozone inflation has surpassed the two per cent target rate, jumping to 2.2 per cent as global commodity prices rise.Retailers’ food prices increased by four per cent in December, the BRC said. Despite rocketing global food prices, food inflation in shops remained the same as November’s rate.Last week global food prices reached a record high, particularly in sugar, edible oils, and some cereals, the United Nations revealed.Adverse weather is largely to blame, according to agricultural economist Douglas Southgate of Ohio State University.Drought has struck Brazil, as well as the wheat growing regions of Russia and Ukraine, while huge floods have destroyed areas of Australia.“And when a country bans commodity exports, as Russia did last year and more than three dozen nations did in 2008, it can drive global prices even higher,” Southgate warned.Meanwhile, petrol prices have surged further in the UK, approaching £1.30 a gallon.“The country’s small businesses are not just hard-hit by the recent VAT rise, but also by record high fuel prices which has come at the most fragile of times,” said John Walker of the Federation of Small Businesses. Show Comments ▼ UK’s retailers struggle with price inflation whatsapp Read This Next’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe WrapHow HGTV’s ‘Renovation Island’ Changed Bryan and Sarah Baeumler’sThe Wrap’Bridgerton’ Stars Phoebe Dynevor and Nicola Coughlan on Daphne andThe WrapBest Wine Gifts & Wine Accessories at Every PriceGayot’Hitman’s Bodyguard’s Wife’ Earns $17 Million 5-Day Opening as Box OfficeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The WrapEverything We Know, or Think We Know, About the Time-Keepers on ‘Loki’The Wrap’The Crown’: What Went Into Finding Princess Diana and Margaret ThatcherThe Wraplast_img read more

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