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Restaurants and pubs group Mitchells & Butler reported a better-than-anticipated rise in first quarter sales, benefitting from milder weather during the festive period and high demand for casual dining. The group, whose chains include Toby Carvery, All Bar One and Harvester, said it was confident that growth would continue in the coming year. M&B said [...]
27th Jan 12
UK heading for double-dip recession
by Harry Oldfield
Britain is on course for its first double-dip recession since 1975 after the economy contracted in the last quarter of 2011 and analysts warned of a renewed threat to employment. The country shrank by 0.2 per cent during the three months to December, more than the 0.1 per cent which was expected, revealed Office for [...]
27th Jan 12
Graduate jobs to fall in 2012
by Adam Richards
Graduate employment woes are likely to continue in 2012 with employers predicting a fall in the amount of university-level jobs available, revealed the latest analysis. Companies have also spoken of their concerns about two-year degrees – which have been introduced at a number of universities to combat rising tuition fees – as students will not [...]
26th Jan 12
Fried food cooked with olive oil fine for heart
by Paul Russell
Eating fried food might not be so bad for the heart, so long as olive or sunflower oil is used to make it, say experts. They found no raised risk of premature death or heart disease linked with food which had been cooked this way. However, the investigators point out that the discoveries, from studying [...]
26th Jan 12
Yahoo! chief vows to improve as profit drops
by Natasha Redman
Scott Thompson, the new chief executive of Yahoo!, attempted to manage expectations upon announcing his first set of figures, as the firm’s profit and sales dipped slightly during the fourth quarter. The chief executive broadly addressed the many issues which the internet company is dealing with – from the possibility of selling it to reviving [...]
26th Jan 12
UK public debt clears £1trn barrier
by Katie Naylor
The sovereign borrowing debt pile which the UK has amassed rose above the £1trn barrier for the first time in history in December, revealed official figures. Net debt, not taking financial interventions into account, hit £1,003.9bn, which equates to 64.2 per cent of GDP. The £1trn barrier was breached in spite of the fact that [...]
26th Jan 12
Apple delivers record profits
by Harry Oldfield
Technology giant Apple reported record quarterly results and smashed market forecasts by selling 37 million iPhones globally in the final three months of last year – a performance which investors dubbed “just unimaginable”. Year-on-year first-quarter profits more than doubled to $13.1bn (£8.4bn), resulting in the firm’s share price going up by as much as 12 [...]
26th Jan 12
Motorists face record fuel prices
by Adam Richards
Motorists are set to face record fuel prices after the biggest oil refinery in London went into administration, putting at risk around 1,000 jobs. The Coryton refinery by the Thames, which refines about 175,000 barrels of crude oil per day, ceased all deliveries of diesel, petrol and heating oil with PricewaterhouseCooper being brought in as [...]
25th Jan 12
Facebook worth £1.1bn to British economy
by Adam Richards
Facebook claims it underpins £1.14bn in the UK economy as well as supporting 18,400 jobs in the country. New research by Deloitte looks at the benefits of the Facebook pages which are used by businesses in order to promote trade. Sheryl Sandberg, the social network’s chief operating officer, said at the DLD conference in Munich [...]
25th Jan 12
Sumatran elephant now critically endangered
by Natasha Redman
The Sumatran elephant is now listed as a critically endangered species after half of its population was lost in a single generation, triggering conservation groups to call for emergency measures in order to prevent its habitat from being destroyed. Deforestation is viewed as the main reason for the fall in numbers across Indonesia, which until [...]