Business Information Service: This Week

MONDAY: Annual pre-tax profits from John Menzies, the Edinburgh- based retailer that owns 283 high street newsagents, the chain of Early Learning Centres and Hammicks Bookshops, are forecast to be 7 per cent higher at pounds 23m for the year to April. The result is expected to be flattered by the low exceptional costs of pounds 4m relating to Hammicks wholesaling operation, which is said to be for sale.

The Confederation of British Industry distributive trades survey will be scrutinised for clues on how retailers fared in June, ahead of the new retail sales figures on Wednesday.

UK money supply figures for June are expected to show that the narrow M0 measure expanded by only 1.8 per cent in the year to June, down from 2.5 per cent in May. Growth in the broad M4 measure, however, is thought to have slipped to 5.1 per cent compared with 5.3 per cent last time. M4 lending by banks and building societies is also expected to be relatively weak, showing an increase of pounds 2.3bn compared with the rise of pounds 3bn in May.

Germany's M3 money supply data is due this week but will be something of an anti-climax in the wake of the Bundesbank's policy tightening last week. It is still likely to attract considerable attention. Analysts expect the figures to show growth relative to the fourth quarter of 1991 slipping from 9 per cent in May to 8.8 per cent. Preliminary cost of living figures for July may also be released towards the end of the week. Forecasters expect the year-on- year rate to fall from 4.3 per cent in June to 3.5 per cent.

TUESDAY: Half-year results from Reuters Holdings, the financial information and international news agency which recently launched its computerised foreign exchange dealing system Dealing 2000-2, is expected to reveal a 12.5 per cent rise in pre-tax profits to pounds 191.4m for the period to June. Total income is not expected to show a significant improvement, while the group's cost-control programme and growing cash pile are seen as the main reasons for profits growth.

Second-quarter results from SmithKline Beecham, the Anglo- American pharmaceuticals and consumer products group, are expected to be in line with the group's target of 8-10 per cent growth at pounds 254m ( pounds 230m). The group's pharmaceutical division is forecast to push revenue growth from 5 per cent in the first quarter to 8.5 per cent in the second.

US Federal Reserve chairman Alan Greenspan is due to give his half-yearly Humphrey-Hawkins testimony to the Senate banking committee, with markets eager to assess the likelihood of further Fed easing of policy.

WEDNESDAY: Ministers responsible for agreeing the EC budget are due to meet in Brussels following the inconclusive talks at Lisbon three weeks ago.

June's retail sales in the UK are forecast to show a 0.1 per cent rise, following the 0.3 per cent May increase. Meanwhile June overseas trade figures are expected to reveal a visible trade deficit of about pounds 1bn, up from pounds 845m in May, and a current account gap of pounds 800m following a deficit of pounds 645m last month. UK building society commitments for June are expected to be pounds 2.9bn, down from pounds 3.2bn in May.

THURSDAY: Greycoat, the property investment company, is expected to report sharply reduced pre-tax losses of pounds 7.4m ( pounds 38.5m) for the year to 31 March, but is believed to be in danger of breaching its banking covenants.

FRIDAY: June durable goods orders in the US are expected to show a 1 per cent rise following the sharp 2.1 per cent drop in May.

Company results: County NatWest Woodmac. Median economic forecasts: MMS International.

PROMOTED VIDEO
Arts and Entertainment
AKB48 perform during one of their daily concerts at Tokyo’s Akihabara theatre
musicJapan's AKB48 are one of the world’s most-successful pop acts
News
Ian Thorpe has thanked his supporters after the athlete said in an interview that he is gay
people
News
The headstone of jazz great Miles Davis at Woodlawn Cemetery in New York
news
Arts and Entertainment
Brendan O'Carroll has brought out his female alter-ego Agnes Brown for Mrs Brown's Boys D'Movie
filmComedy holds its place at top of the UK box office
News
newsBear sweltering in zoo that reaches temperatures of 40 degrees
Arts and Entertainment
Professor Kathy Willis will showcase plants from the Royal Botanic Gardens at Kew
radioPlants: From Roots to Riches has been two years in the making
News
ebookA unique anthology of reporting and analysis of a crucial period of history
Arts and Entertainment
TV The follow-up documentary that has got locals worried
Arts and Entertainment
Eminem's daughter Hailie has graduated from high school
music
Arts and Entertainment
Original Netflix series such as Orange Is The New Black are to benefit from a 'substantial' increase in investment
TVHoax announcement had caused outrage
Life and Style
Swimsuit, £245, by Agent Provocateur
fashion

Diving in at the deep end is no excuse for shirking the style stakes

News
One Direction star Harry Styles who says he has no plans to follow his pal Cara Delevingne down the catwalk.
peopleManagement confirms rumours singer is going it alone are false
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Information Security Manager (ISO 27001, Accreditation, ITIL)

£70000 per annum: Harrington Starr: Information Security Manager (ISO 27001, A...

Biztalk - outstanding opportunity

£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...

Trade Desk Specialist (FIX, Linux, Windows, Network Security)

£60000 per annum: Harrington Starr: Trade Desk Specialist (FIX, Linux, Windows...

Service Desk Analyst (Windows, Active Directory, ITIL, Reuter)

£35000 per annum: Harrington Starr: Service Desk Analyst (Windows, Active Dire...

Day In a Page

Super Mario crushes the Messi dream as Germany win the 2014 World Cup in Brazil

Super Mario crushes the Messi dream

Germany win the 2014 World Cup in Brazil
Saharan remains may be evidence of the first race war, 13,000 years ago

The first race war, 13,000 years ago?

Saharan remains may be evidence of oldest large-scale armed conflict
Scientists find early warning system for Alzheimer’s

Scientists find early warning system for Alzheimer’s

Researchers hope eye tests can spot ‘biomarkers’ of the disease
Sex, controversy and schoolgirl schtick

Meet Japan's AKB48

Pop, sex and schoolgirl schtick make for controversial success
Iraq crisis: How Saudi Arabia helped Isis take over the north of the country

How Saudi Arabia helped Isis take over northern Iraq

A speech by an ex-MI6 boss hints at a plan going back over a decade. In some areas, being Shia is akin to being a Jew in Nazi Germany, says Patrick Cockburn
The evolution of Andy Serkis: First Gollum, then King Kong - now the actor is swinging through the trees in Dawn of the Planet of the Apes

The evolution of Andy Serkis

First Gollum, then King Kong - now the actor is swinging through the trees in Dawn of the Planet of the Apes
You thought 'Benefits Street' was controversial: Follow-up documentary 'Immigrant Street' has got locals worried

You thought 'Benefits Street' was controversial...

Follow-up documentary 'Immigrant Street' has got locals worried
Refugee children from Central America let down by Washington's high ideals

Refugee children let down by Washington's high ideals

Democrats and Republicans refuse to set aside their differences to cope with the influx of desperate Central Americas, says Rupert Cornwell
Children's books are too white, says Laureate

Children's books are too white, says Laureate

Malorie Blackman appeals for a better ethnic mix of authors and characters and the illustrator Quentin Blake comes to the rescue
Blackest is the new black: Scientists have developed a material so dark that you can't see it...

Blackest is the new black

Scientists have developed a material so dark that you can't see it...
Matthew Barzun: America's diplomatic dude

Matthew Barzun: America's diplomatic dude

The US Ambassador to London holds 'jeans and beer' gigs at his official residence – it's all part of the job, he tells Chris Green
Meet the Quantified Selfers: From heart rates to happiness, there is little this fast-growing, self-tracking community won't monitor

Meet the 'Quantified Selfers'

From heart rates to happiness, there is little this fast-growing, self-tracking community won't monitor
Madani Younis: Five-star reviews are just the opening act for British theatre's first non-white artistic director

Five-star reviews are just the opening act for British theatre's first non-white artistic director

Madani Younis wants the neighbourhood to follow his work as closely as his audiences do
Mrs Brown and her boys: are they having a laugh?

Mrs Brown and her boys: are they having a laugh?

When it comes to national stereotyping, the Irish – among others – know it can pay to play up to outsiders' expectations, says DJ Taylor