Balfour Beatty sees profit lift

first_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndoTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndo Balfour Beatty sees profit lift Tags: NULL Wednesday 11 August 2010 8:19 pm CONSTRUCTION group Balfour Beatty said it was well-placed to withstand public sector spending cuts as it announced an increased order book and an earnings boost from its US acquisition. The construction firm said yesterday half-year pre-tax profit rose by 32 per cent to £141m, compared with £107m in 2009.“Our strategy has been to build Balfour as a global infrastructure business. The results now reflect the acquisition of Parsons Brinckerhoff … it’s performed extremely well in the first half,” chief executive Ian Tyler said.Profit at Balfour’s professional services division rose to £49m, against £6m in 2009, largely as a result of the company buying US management firm Parsons Brinkerhoff, which contributed a profit of £35m. Its interim dividend rose five per cent to 5.05p per share.Balfour also has signed a £460m contract for the second phase of satellite building for Terminal Two at Heathrow. Tyler remained confident in the face of government cuts in the construction sector. “While there are challenges in some markets, overall we still would see in 2010 to 2011 areas where the business will grow,” he said.The firm’s order book stood at £14.6bn in June, up from £14.1bn at the end of last year. Tyler pointed out that a substantial number of contracts were funded by industry rather than the public sector. Sharecenter_img whatsapp whatsapp Show Comments ▼ More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.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.comKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org KCS-content last_img read more

Thomas Cook warns over “soft” UK economy

first_img More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comI 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.orgKiller drone ‘hunted down a human target’ without being told tonypost.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.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com Tags: NULL whatsapp whatsapp Share Show Comments ▼ John Dunne Thomas Cook warns over “soft” UK economy Wednesday 11 August 2010 3:44 am TOUR operator Thomas Cook said it anticipated operating profit for the full year would be at the lower end of expectations following poor trading in the UK and the adverse impact of exchange rate movements.Europe’s second biggest travel firm said the weakness in the UK market had impacted margins while the costs of disruption from the Icelandic volcanic ash outbreak was now expected to be £81.9m – above the original estimate of £60-80m.“As we enter the final quarter, it is apparent that trading in the UK business is softer than expected and the recent weakening of the euro will have an adverse impact on translation of our euro-based earnings,” Chief Executive Manny Fontenla-Novoa said in a statement. last_img read more

Serco bullish on outlook

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmHero WarsBig Boss of internet games!Hero Warsmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.cominvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld Lifestyle whatsapp KCS-content More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPuffer fish snaps a selfie with lucky divernypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com whatsapp Wednesday 25 August 2010 8:47 pm Serco bullish on outlook center_img Share Tags: NULL OUTSOURCING giant company Serco posted a 21 per cent increase in half-year pre-tax profit and said government spending cuts would boost sales in areas where outsourcers would be hired to achieve savings.Serco, which runs Boris Johnson’s new cycle hire scheme, said yesterday pre-tax profit for the first half to 30 June was £101.4m, against £83.4m last year.Support services companies with significant exposure to government contracts are bracing for Downing Street’s October Spending Review, which will outline the extent of the coalition’s drive to cut public spending.Serco said it and other companies used by the government were in talks with government officials about how to help achieve its cuts.“[The coalition government] have called us in to say ‘where can we save money?’ We see Serco as a big partner to government, we still see them as a very strong customer, they still see us as a very strong supplier,” chief executive Christopher Hyman said yesterday. Show Comments ▼last_img read more

Barratt warns of tough times despite profit rise

first_img More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comConnecticut man dies after crashing Harley into live bearnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com Barratt warns of tough times despite profit rise Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe 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.comSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Share John Dunne Show Comments ▼center_img whatsapp Housebuilder Barratt Developments said wider economic fears and the lack of mortgage finance meant the market for new housing was still challenging as it reported a jump in profits.House prices fell much faster than expected last month, according to a monthly survey from mortgage lender Nationwide, stoking concerns that the country could be headed for a double-dip recession.Barratt said it would therefore continue to focus on prices rather than volume and would not reinstate dividends, unlike rivals Bovis and Persimmon.For the year to end-June it reported operating profit of £90.1m, up from 34.2m one year ago.Barratt had said in July it would report operating profit of at least 85 million pounds for the year thanks to a strong second-half performance. whatsapp Wednesday 8 September 2010 2:39 amlast_img read more

Rudd: lack of third runway will harm UK

first_img Rudd: lack of third runway will harm UK Share KCS-content whatsapp Tags: NULL Show Comments ▼center_img Sunday 26 September 2010 10:27 pm SIR Nigel Rudd, the chairman of airport operator BAA, at the weekend warned that preventing Heathrow from building a third runway poses a significant threat to the UK’s competitiveness.Rudd said that the decision to pull plans for the third runway, a central promise made by the coalition government after the general election in May, would make Heathrow a “second tier” airport, lagging behind its European peers.“The question I want answering is, if there is going to be no third runway, and no more in the South East of England, how does the nation cope with the fact that we’re going to receive an ever decreasing share of international passengers as all the other major international airports are expanding?” Rudd asked in an interview with the Sunday Telegraph.“We’re becoming less competitive,” he added. “Even if we continue to make operational improvements, [Heathrow] will still be a world class but second tier airport.”Rudd, who made his business name building up conglomerate Williams Holdings with Centrica chairman Roger Carr in the 1980s, said BAA’s major investors were befuddled by the decision not to go ahead with the third runway.Majority owner Ferrovial, the Spanish construction group, and smaller stakeholder GIC, the Singapore-backed investment company, “don’t understand why we’re not championing the UK”, Rudd said.His comments come after the Tories and Liberal Democrats officially pledged in their coalition agreement in May to drop the third runway at Heathrow. The government also agreed to block future new runway developments at Stansted and Gatwick.The issue has previously drawn an emotive response from the business world as well as green campaigners.Last year, a group of influential City figures – including Kingfisher chief executive Ian Cheshire, Credit Suisse banker Russell Chambers, Sainsbury’s boss Justin King, private equity guru Jon Moulton and Charles Dunstone of Carphone Warehouse – united to lobby against the new runway. whatsapplast_img read more

City on alert ahead of UK GDP figures

first_img KCS-content 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 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 ItBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Show Comments ▼ City on alert ahead of UK GDP figures Sunday 24 October 2010 11:25 pmcenter_img whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comWhy people are finding dryer sheets in their mailboxesnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comConnecticut man dies after crashing Harley into live bearnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com whatsapp ALL eyes in the City and Westminster will be on the Office for National Statistics tomorrow, as it prepares to release its first estimate of third-quarter GDP growth. Britain’s economy is expected to have grown by 0.4 per cent in the third-quarter, a decent rate of expansion, albeit one substantially lower than the boom-style 1.2 per cent seen in the second quarter. But any deviation from the consensus expectation – either downwards or upwards – is likely to be hailed by critics or supporters of the government’s policies as vindication of their own views. This reaction will come despite widespread warnings in the City that it would be a mistake to read too much into early statistical releases, which are often revised.Independent economists remain deeply divided about the prospects for 2011, on whether more QE will be needed and on whether the comprehensive spending review will be expansionary or contractionary. Some bearish economists, such as Capital Economics, are warning that the pace of GDP growth in 2011 is likely to fall short of the government’s expectations. Howard Archer, IHS Global Insight’s economist, this weekend downgraded his 2011 growth forecast to just 1.5 per cent, below the 2.25 per cent predicted by the Office for Budget Responsibility. Archer said. “Our forecasts suggest the government will struggle to achieve its fiscal targets unless further corrective action is eventually taken.” The London School of Economics’ Nobel Prize-winner Christopher Pissarides repeated his warnings at the weekend that the cuts could exacerbate high unemployment and low job vacancies.Others, however, remain significantly more bullish. In a note out this weekend, Michael Saunders of Citigroup said: “We do not expect fiscal consolidation to derail the recovery, given the low pound, low interest rates, plus prospects for a pickup in corporate investment and employment. Growth will not be spectacular, but should be sustained. Extra QE is an option, but we doubt it will be needed to underpin recovery.”Saunders’ latest growth forecasts show UK GDP going up 1.5 per cent this year and 2-2.5 per cent in both 2011 and 2012. Tags: NULLlast_img read more

WHAT THE OTHER PAPERS SAY THIS MORNING

first_img Tags: NULL WHAT THE OTHER PAPERS SAY THIS MORNING KCS-content Monday 8 November 2010 9:52 pm FINANCIAL TIMESMERKEL WARNS ON PROTECTIONISMThe greatest danger facing the global economy is a return to trade protectionism, Angela Merkel, German chancellor, has warned ahead of this week’s meeting of global leaders in Seoul. In an interview with the FT Merkel suggested that China must be persuaded with “facts and benchmarks” to set a “fair exchange rate” for the renminbi, rather than be attacked for its currency policy.JAPAN’S SKYMARK TO BUY A380 JETSAirbus’s battle to break into Japan gained a big lift on Monday when Skymark, a budget airline based in Haneda, said it planned to buy four of the European manufacturer’s A380 superjumbos, with an option for two more. The order, worth about $2bn at list prices, is the biggest long-haul passenger aircraft deal Airbus has made in years in Japan, where its US rival Boeing has long had a stranglehold on the markeGREEKS RELIEVED AS THREAT?OF?SNAP POLL FADESGreece’s business community expressed relief after George Papandreou, the prime minister, withdrew his threat to call a snap election in spite of falling support for his socialist party in local elections. Mr Papandreou instead interpreted Sunday’s poll results as a vote of confidence in his harsh austerity policies. INVESTORS SEEK TRANSPARENCY IN HEDGE FUNDSTransparency is the leading concern investors share about the publicity-shy $1,800bn global hedge fund industry, followed by fees and managers’ pay, a report shows. Just half of the investors polled thought pay structures in hedge funds were aligned with the best interests of the fund, compared with 94 per cent of managers, the survey shows.THE TIMESBANKERS WARN CLAMPDOWN THREATENS CITY EXODUSThe clampdown on bonuses and tougher regulation in Western nations could trigger a shift in investment banking activity away from the City of London and towards Asia, the chairman of Royal Bank of Scotland has warned. Speaking during a trip with George Osborne to Beijing, Sir Philip Hampton said that a number of factors were likely to propel wholesale banking business east.DE LA RUE PREPARES TO CUT STAFF AS CUSTOMERS STAY AWAYDe La Rue is set to cut dozens of jobs as it is forced to pulp tonnes of high-quality paper for which it cannot find a buyer. The troubled banknote publisher has not received a single order for almost two months after it called in the Serious Fraud Office and accused managers of falsifying tests.The Daily TelegraphIMMIGRATION CAP HURTS GROWING COMPANIESFast-growing small businesses remain handicapped by the temporary cap on hiring migrants from non-EU companies despite a series of changes to the scheme. The Government has responded to business criticism of the cap last week by confirming that “intra-company transfers” within international companies would not count.GUNMEN ATTACK AFREN OIL RIG OFF NIGERIAGunmen have attacked an oil-rig off the coast of Nigeria belonging to Afren, the London-listed oil exploration company. Five crew members were kidnapped and a further two injured in the incident Afren’s shares fell amid concerns the attack, would shatter an amnesty brokered last year by the country’s president.THE WALL STREET JOURNALHONDA LOOKS TO GRASS TO RESOLVE ITS POWER NEEDSHonda Motor Co. believes a fast-growing African grass may be the solution for fueling an as-yet-unbuilt power station at its car factory near Swindon. The plan to use miscanthus, a low-maintenance grass which is already burned alongside coal in some UK power stations, is driven by environmental concerns as well as uncertainty over UK power supplies.EU TO FINE AIRLINES FOR CARGO CARTELThe European Commission is likely to fine more than 10 airlines on Tuesday, over an alleged global cartel in air-freight transport that has dragged on for years. The commission could fine the airlines hundreds of millions of euros for colluding in setting surcharges, mainly a fuel surcharge, for their cargo operations whatsappcenter_img Show Comments ▼ Share whatsapplast_img read more

City warns over rights issue rip off

first_img whatsapp whatsapp Tags: NULL KCS-content INVESTMENT banks have been slammed by the City’s top institutional investors for charging unfairly high fees to companies raising capital through rights issues.An inquiry commissioned by the Institutional Investor Council, backed by the Association of British Insurers and the National Association of Pension Funds, lashes out at investment banks today for charging underwriting fees far in excess of the level of risk they face, and taking advantage of companies’ inexperience in capital markets.The Rights Issue Fees Inquiry follows criticism of credit crunch rights issues launched by companies such as housebuilder Taylor Wimpey. The fees charged were a poor use of shareholder capital and should come under a similar level of scrutiny as outgoings such as executive pay, it said.Inquiry chairman Douglas Ferrans said companies were “paying too much to ensure the deal is a success.”“These costs have increased disproportionately to the risks,” he said. “What we have seen over the period is the risks of underwriting contract quite substantially and we would have expected costs to come down.”Rights issue fees almost doubled from two per cent in 1999 to 3-4 per cent in 2009 as distressed companies were forced to raise fresh capital in risky market conditions.Shortly after the credit crisis property firm Barratt paid £27m in fees to banks advising its £720m rights issue, while builders merchant Travis Perkins paid HSBC and Citigroup £12m to underwrite its £300m issue. Business Secretary Vince Cable welcomed the inquiry’s work.“Their report calls for more transparency and competition in the capital-raising process to ensure highly inflated fees become a thing of the past,” he said. More From Our Partners Police 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.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.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.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com center_img Monday 13 December 2010 9:41 pm Show Comments ▼ City warns over rights issue rip off But investment banking sources told City A.M. last night underwriting was still highly competitive. “The danger with these reports is that it might be inferred that there is something sinister going on – but these services are being provided by a competitive industry,” one source said.RBC Capital Markets and Barclays Capital structured a £2bn rights issue for life funds group Resolution in June in which they charged full fees for only the risk they underwrote and reduced fees for the risk that was sub-underwritten. Joshua Critchley of RBC Capital Markets said: “It better aligned risk and reward for the underwriting banks. I believe that you’ll see this structure used again.” Sharelast_img read more

Snow to blame as top US retail results miss targets

first_img A FLURRY of US retail results released yesterday failed to meet market projections, despite gains in same-store sales for several companies. After heavy snowfall hit the Eastern seaboard just after Christmas, some companies blamed the blizzard for their shortfall, with retailers ranging from department store operator Macy’s and discounter Target to teen clothing store American Eagle Outfitters among those whose results fell far short of Wall Street’s forecasts.December sales at stores open at least a year for the 28 major retailers tracked by Thomson Reuters rose 3.1 per cent, below forecasts of a 3.4 per cent increase.Though Macy’s same-store sales rose 3.9 per cent, this was still below estimates of 4.5 per cent. Macy’s chief executive Terry Lundgren said that bad weather was to blame for the deficit. “We did a lot better before the snow hit, no question about it,” he said. Shopper numbers were well down, with research firm ShopperTrak saying that 26 December, which was the third-biggest shopping day of 2009, would struggle to make the top 10 this year. whatsapp KCS-content Snow to blame as top US retail results miss targets Tags: NULL Share whatsapp Show Comments ▼ More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Thursday 6 January 2011 7:35 pmlast_img read more

IMF: Legacy of debt for America

first_img Tags: NULL IMF: Legacy of debt for America Sunday 9 January 2011 10:34 pm Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Sharecenter_img whatsapp Government debts in the US pose a “major challenge” for years to come, a leading member of the International Monetary Fund (IMF) said yesterday. The US had a $1.3 trillion (£836bn) budget deficit in the fiscal year to September 2010. Spending is leaving a “legacy of high debt,” IMF’s John Lipsky told a meeting in Denver. whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.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.org KCS-content last_img read more