You are here: Home - Investing -

Monday paper round-up: Retail sales, Land Securities, George Osborne

0
Written by:
06/01/2014
"Underwhelming" Christmas for retailers; Land Securities in talks to develop designer outlet at O2; Osborne warns more cuts needed.

Christmas failed to light up the high street, with figures today pointing to an “underwhelming” December for many retailers. Releasing its latest sales tracker, accountancy firm BDO said overall like-for-like sales among UK “mid-market” retailers were down 2.2 per cent year-on-year. Last minute present hunting saw non-fashion sales pick up in the final week of December, offsetting a weak start to the month, the report noted. – The Scotsman

Britain’s largest property company is in talks to open a designer outlet centre at the O2 Arena in Greenwich in an attempt to rival the upmarket Bicester Village in Oxfordshire. Land Securities has signed a six-month exclusivity agreement with AEG Europe, one of the world’s largest concert promoters and owner of the venue in southeast London, to negotiate options for jointly developing a luxury retail centre in an unused part of the former Millennium Dome. – The Times

George Osborne will on Monday warn that years of spending cuts lie ahead even as the Prime Minister seeks to reassure the grey vote that their pensions are safe in Conservative hands. The Chancellor will strike a sombre tone as he tries to persuade the electorate that Britain’s recent economic recovery is not enough to overcome the woes of the past five years. This will be a “year of hard truths”, the chancellor will say on a visit to the Midlands. – Financial Times

George Soros is worried about China, and we should take note. The hedge fund boss, who built his fortune betting on the world’s money markets, is concerned that 20 years of rapid growth is about to run out of steam. Soros […] will be a prominent figure at the World Economic Forum in Davos later this month, when policymakers and business people debate how to foster global growth. – The Guardian

Brussels is set to ease financial reforms so that big European banks are not forced automatically to split lending operations from risky trading. In a draft European Commission proposal, seen by the Financial Times, the separation is no longer mandatory, would be less costly and restrictive than first envisaged and national supervisors are given wide discretion in applying the reforms. – Financial Times

Britain’s manufacturers will enjoy faster growth than those in Germany or any other western European economy this year from rising demand at home and abroad, according to a report. In its annual survey of companies, manufacturers’ organisation EEF found 70% of firms forecast an improvement in the economy in 2014, while just 5% thought conditions would deteriorate. The balance of 65% compares with the sombre outlook at the same time last year when the reading was just 7%. – The Guardian

The Chairman of Albemarle & Bond, brought back full time to rescue the debt-plagued pawnbroker in April last year, has been given a £100,000 bonus, despite a failed rights issue and the departure before Christmas of a potential buyer. Greville Nicholls was made Chief Executive of Albemarle in 1995 and oversaw its admission to the Alternative Investment Market, as well as rapid expansion. – The Times

Related Posts

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
School kids take £1.5bn worth of uninsured gadgets to school

British children take £1.5bn worth of uninsured high-tech equipment to school with them each day.

Close