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The Business Matrix: Monday 9 July 2012
German move by Debenhams
Debenhams is launching its first foreign language website in Germany as part of its international growth plans. The department store group, which has 164 stores in the UK and Ireland, and its Magasin du Nord chain in Denmark, will also now deliver to 34 further countries internationally, bringing the total to 41. Transactions on the German site will be in euros.
Most regions see a slowdown
The majority of English regions suffered from a slowdown in private sector activity last month, a survey revealed today, as the bad weather and additional bank holiday hit business. The Lloyds TSB regional Purchasing Managers' Index (PMI) for all English regions, where a reading over 50 indicates growth, came in at 51.3 in June, down on 52.3 in May.
What the Sunday papers say:
Germans launch inquiry into Libor
German regulators have begun an intensive inquiry into Deutsche Bank over its involvement in setting Libor rates as regulators around the world investigate claims that the key interest rates were manipulated. BaFin, the German regulator, has moved an existing inquiry to the status of "special investigation process". The Independent on Sunday
Marks & Spencer to reveal sales fall
Marks & Spencer is set to reveal its worst quarterly trading in three years at its annual meeting tomorrow, adding to the pressure on its chief executive, Marc Bolland. The high street stalwart is expected to report a seven per cent fall in sales of clothing and homeware for the last quarter, fuelling fears it will have to cut its profits forecast. The Sunday Times
Drive for Farepak compensation
Farepak campaigners are set to press for an extra £10m in compensation for customers hit by the collapse of the Christmas hamper business from Halifax-Bank of Scotland, now part of Lloyds Banking Group. The bank has already paid out £10m, including an £8m payment made last week. The Mail on Sunday
Billionaire court battle in London
The owner of Chelsea FC, Roman Abramovich, is expected to be a witness in the High Court clash between the Russian billionaires Oleg Deripaska and Michael Cherney. Mr Cherney says he was a partner in Mr Deripaska's aluminium business. Mr Deripaska says he made "extortion" payments to Mr Cherney. The Sunday Telegraph
Job market outlook revealed
Michael Page will give its view on how the economy is affecting the job markets when the recruiter announces its update for the second-quarter on today. Analysts at Peel Hunt are cautious over the company's prospects, with its analysts warning they see "pressure" on its forecasts for the rest of this year.
Tough time for Marks & Spencer
Given we've just seen what are believed to be the wettest April and June for 100 years, the high street has not been enjoying the damp weather. Marks & Spencer will reveal just how much it has been hit tomorrow when it unveils its first-quarter statement. UBS analysts predict a seven per cent sales fall for clothing.
Wetherspoons margins in focus
JD Wetherspoons announces its pre-close statement on Wednesday and the pub chain's struggle to keep margins up look set to be a focus yet again. Although it is unlikely it will have been hit as hard as the last quarter, Numis Securities' analyst Douglas Jack is still expecting full-year margins to fall to 9.05 per cent.
SuperGroup to update on fashion
Bosses at SuperGroup have been eager to persuade the market that its SuperDry brand remains as hip as ever, although there are plenty of sceptics given its sales growth has slowed for four quarters running. It will get another chance on Thursday to change investors' minds with the release of its full-year results.
- 1 America's 'virgin births'? One in 200 mothers 'became pregnant without having sex'
- 2 Sun will 'flip upside down' within weeks, says Nasa
- 4 Christmas comes early: Justin Bieber announces he's 'retiring from music'
- 5 Children evacuated from swimming pool after prosthetic leg mistaken for paedophile