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04th of April 2011
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News Tag: record

March 30, 2011

Co-operative Group reports record 2010 performance

by Kay Murchie
Britain’s largest mutually-owned retailer, the Co-operative Group, has today posted “record” results for the 2010 year. The group said underlying operating profits before significant items surged 48% to £545.7 million compared with £367.9 million the year before. Group sales were 10% higher at £13.7 billion. Earnings at the group have been boosted by its acquisition of Somerfield and its merger with the Britannia ...

January 12, 2011

Sainsbury’s shrugs off bad weather with record sales

by Kay Murchie

January 3, 2011

Singapore announces record economic growth

by Kay Murchie
The Singapore economy grew at a record pace in 2010, driven by a sharp rise in manufacturing activity, official figures have revealed. The economy expanded by 14.7% last year - performing strongly after a 1.3% contraction in 2009 and cementing its position as the fastest growing Asian economy in 2010. The economy grew by 12.5% in the final quarter - boosted by a 28.2% ...

December 30, 2010

FSA imposes record fines in 2010

by Kay Murchie
Figures show that UK watchdog, the Financial Services Authority (FSA), has stepped up its fines this year after imposing a record £89 million in 2010, compared with £35 million in 2009. However, fines in the UK are still significantly lower than those imposed in the US, which usually exceed the $500 million mark. This year saw the FSA impose record fines on ...

December 21, 2010

November public borrowing hits record high

by Kay Murchie
The Office for National Statistics (ONS) has today revealed public sector net borrowing totalled £23.3 billion in November – a record high for the month. Not only did it exceed the monthly record of £21.1 billion that was set in December 2009 - it represented the highest level since monthly records began in 1993. The figure was also much higher than analysts ...

December 8, 2010

German industrial output beats expectations

by Kay Murchie
The good news just keeps on coming for Europe’s largest economy after the Economy Ministry today revealed industrial production rose by 2.9% in October - almost treble the 1% economists had expected. Economists described it as “a good start to the fourth quarter”. The figures indicate that Germany continues to drive the recovery of the euro zone after experiencing record economic growth. Meanwhile, data ...

November 24, 2010

German business confidence sees record rise

by Kay Murchie
The Munich-based Ifo think tank today announced confidence among German firms grew in November. The Business Climate Index rose to 109.3 in November, up from 107.7 the previous month – the strongest rise since German reunification in 1990. The closely-watched index also confounded expectations of a fall to 107.5. Meanwhile, commenting on the figures, the Ifo institute said: “The upswing in the ...

November 18, 2010

October public borrowing rises to £10.3bn

by Kay Murchie
The Office for National Statistics (ONS) has today revealed public sector net borrowing totalled £10.3 billion in October – a record high for the month. However, the figure was roughly in line with expectations of a £9.6 billion figure but is up from the £10.1 billion in October last year. The increase comes despite a rise in Government income through taxes and lower ...

October 20, 2010

September public borrowing rises to record high

by Kay Murchie
The Office for National Statistics (ONS) has today revealed public sector net borrowing totalled £15.607 billion in September – its highest for the month of September since records began more than 17 years ago. The figure was also higher than the £14.2 billion economists had expected and compares with £14.806 billion a year earlier. Overall, public sector net debt stands at £952 ...

October 7, 2010

Halifax reports 3.6% fall in house prices in September

by Kay Murchie
Halifax reports 3.6% fall in house prices in September
The Halifax has today revealed UK house prices fell by a record 3.6% in September compared with August. The latest house price fall takes the average cost of a UK home to £162,096, the Halifax said. According to the lender, the monthly decline was the biggest since records began in 1983. However, it is still too soon to suggest that ...

September 9, 2010

UK trade deficit widens in July

by Kay Murchie
The Office for National Statistics (ONS) has today revealed the UK’s trade deficit widened in July to a record high, as imports soared and exports fell. According to the ONS, the goods trade gap widened to £8.667 billion in July, up from £7.532 billion the previous month. The deficit was the biggest since the series began more than 12 years ago and ...

August 18, 2010

Coventry Building Society announces record results

by Kay Murchie
Coventry Building Society, which is scheduled to finalise its merger with smaller rival Stroud & Swindon next month, has today announced record results for the six months ending June 30. The UK's third largest building society said pre-tax profit grew by 20% to £43.5 million - compared with £36.2 million in the same period a year ago. In the meantime, net mortgage lending ...

August 13, 2010

Germany’s economic growth boosted by exports

by Kay Murchie
Figures have today revealed Europe’s largest economy grew by a record 2.2% in the second quarter - the fastest quarterly growth in 20 years. The figures smashed analysts forecasts who had expected growth of around 1%. Meanwhile, on an annul basis, economic growth soared by 4.1%. Furthermore, first quarter growth has been revised upwards from 0.2% to 0.5%, the statistics office, Destatis ...

June 25, 2010

New rules for lenders handling mortgage arrears

by Gill Montia
The Financial Services Authority (FSA) has published new rules aimed at protecting vulnerable customers in arrears on their mortgages. From 30th June, homeowners in arrears must be treated fairly by lenders and the following key areas have been confirmed: Firms must not apply a monthly arrears charge where an agreement is already in place to repay the arrears. Payments by customers in financial ...

June 3, 2010

JP Morgan Securities receives record fine

by Kay Murchie
A record fine for JP Morgan Securities has been imposed by the Financial Services Authority (FSA) for failing to protect client money over a period that spanned almost seven years. The largest ever fine of £33.32 million ($48.2 million) would have actually been £47.6 million but the firm agreed to co-operate during the investigation, thereby receiving a 30% discount. According to the FSA, ...

May 21, 2010

Government borrowing hits £10bn in April

by Kay Murchie
The Office for National Statistics (ONS) has today revealed the UK Government borrowed £10 billion in April. However, while the figure represented the highest amount for April on record, it was less than the £13 billion many economists had expected. Overall, Government debt stands at £893.4 billion – the equivalent to 62.1% of GDP. However, the overall budget deficit for the year ...

Further blow for BA as it posts record annual loss

by Kay Murchie
British Airways, which is facing fresh strikes over the next few weeks, has today reported a record £531 million annual loss. The latest results, which cover the 12-month period to the end of March, include the estimated £40 million loss from the cabin crew strikes which took place during the month. However, they do not include any drop in ...

May 20, 2010

Air France-KLM reports record annual loss

by Kay Murchie
Air France-KLM reports record annual loss
The economic downturn appears to still be battering the airline industry after Air France-KLM reported a net loss of €691 million for the three months ending March, compared to a loss of €479 million in the same period a year ago. This took its annual loss for the full year to €1.55 billion (£1.33 billion) - a record loss for the airline ...

May 4, 2010

Standard Chartered has “very strong start to year”

by Kay Murchie
London-based bank Standard Chartered today announced record first quarter profits and income. The bank, which has a strong presence in Asia, said wholesale banking showed robust results in the three months ending 31 March. In wholesale banking, which includes advisory, trade finance and other investment banking business, client income was up by more than a fifth compared with the same ...

April 14, 2010

Intel sees Q1 profits quadruple

by Kay Murchie
Chipmaker Intel has reported record results for the first three months of 2010, boosted by demand for new chips for computer servers. The company, which is based in Santa Clara, California, said profits quarter one profits increased almost fourfold with net income totalling $2.4 billion (£1.5 billion), compared with $629 million in the same period a year earlier. Intel is kicking off the ...

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