H&T hurt by fall in gold price
H&T, Britain’s biggest pawnbroker, succumbed to the dramatic collapse in the gold price yesterday with a profit warning that sent its shares plummeting by 11 per cent. The company said the City had not priced in the fall in the precious metal which has dropped from £1,054 an ounce in March to £925.
P&G ask former boss to return to the helm
Incoming Procter & Gamble boss A G Lafley said that a sense of “duty” had persuaded him to return to his former job at the consumer goods giant. Mr Lafley, who had retired, is taking on the roles of chairman, president and chief executive. He will replace Bob McDonald.
Weak recovery could last for three years
Britain will have to wait for the boom times to return despite “some signs of a pick-up” in the economy, the Bank of England rate-setter Paul Fisher declared yesterday. The Bank’s markets director, who has voted for more quantitative easing, said the UK’s weak recovery could last for another three years.
Boeing’s Dreamliner returns to the skies
The airline with the most Boeing Dreamliner jets will be the first to resume commercial flights with it today, four months after the 787 was grounded over safety fears. Japan’s All Nippon Airways will fly passengers on five 787 flights this month before launching scheduled services on the aircraft on 1 June.