Citigroup downgrades UK supermarkets

Supermarkets have expanded too fast, opening far too many outlets at a time when consumers have tightened their belts, according to the leading broker Citigroup, which has published a research note downgrading Morrisons, Sainsbury’s and Tesco. By Harry Wallop, Retail Editor 2:38PM BST 02 Sep 2011 http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8737541/Citigroup-downgrades-UK-supermarkets.html This is the latest gloomy piece of research about the retail sector, after […]

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BRICs No Cure for Global Growth This Time

By Michael Patterson and Simon Kennedy – Sep 1, 2011 http://www.bloomberg.com/news/2011-08-31/brics-no-cure-for-global-economy-this-time-as-avon-to-siemens-shares-sink.html Stocks of international companies that depend most on emerging markets for sales show developing nations won’t be strong enough to buoy the global economy. Goldman Sachs Group Inc.’s gauge of U.S. companies with the most developing-nation revenue fell 15 percent since April, the biggest drop since the bull market […]

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Bank of England’s Posen backs more QE

Adam Posen has been pushing his fellow Bank of England monetary policy committee members to engage in more easing for more than a year now Alex Hawkes guardian.co.uk, Wednesday 31 August 2011 08.45 BST http://www.guardian.co.uk/business/2011/aug/31/bank-of-england-adam-posen-qe Bank of England policymaker Adam Posen has stepped up his case for more quantitative easing, urging central banks around the world to buy up more […]

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Homelessness could spread to middle class, Crisis study warns

Homelessness charity points to direct link between economic downturn and welfare cuts, and rising numbers living on streets The Guardian, Wednesday 31 August 2011 http://www.guardian.co.uk/society/2011/aug/30/homelessness-middle-class-crisis-study The economic downturn and the government’s deep cuts to welfare will drive up homelessness over the next few years, raising the spectre of middle class people living on the streets, a major study warns. The […]

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Mortgage arrears rise sharply in Ireland

Interest rate hikes, fuel costs and austerity measures are pushing people into arrears as new figures show the house price decline continues http://www.guardian.co.uk/business/ireland-business-blog-with-lisa-ocarroll/2011/aug/29/ireland-mortgage-arrears-rise-sharply The number of people in mortgage arrears in Ireland has more than doubled since the end of 2009 as interest rate hikes, pay cuts and austerity measures take their toll. The Irish Central Bank’s quarterly report on […]

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