Aurora Fashions records net operating profit of £22.6 million

Aurora Fashions records net operating profit of £22.6 million

The warehouse owner, Aurora Fashions has posted profit within 11 months of its major restructuring despite challenging retail market.

The owner of fashion brands Karen Millen, Warehouse, Oasis and Coast, reported net operating profit of £22.6 million on sales of £661m all over the world within 11 months to 30 January.

Bank of England to keep interest rates low till 2014

Bank of England to keep interest rates low till 2014

Peter Spencer, Chief Economist of the Ernst & Young Item Club, warned the Bank of England to keep the interest rates at the lowest record of 0.5 percent till the beginning of 2014.

The interest rates will be kept on hold as the spending cuts by the government to narrow the deficit of £155bn will slow the pace of economic recovery.

European Stocks Mark a Rebound

European Stocks Mark a Rebound

The European stocks registered a jump following reports on earning recorded from Fiat SpA to Apple Inc.

"The season has certainly got off to a good start", said Piers Hillier, Chief Investment Officer of Liverpool Victoria Asset management in London.

Oil Drops below $79: Thanks to Threats from European Debt Crisis

Oil Drops below $79: Thanks to Threats from European Debt Crisis

On Friday, due to the European banks stress tests and the continuing debt crisis, the oil prices dropped below $79 a barrel. The price was $78.95 a barrel in electronic trading on the New York Mercantile Exchange by early afternoon in Europe.

Bank of Canada Raises Interest Rates

Bank of Canada Rises Interest Rates

On Thursday, Bank of Canada released its monetary policy report. The interest rate has been hiked to 0.75%, rather than a previous forecast of 0.25%. The underlying reasons for the same have not been told by the bank.

The bank projected that the GDP to grow by 3.5% this year, 2.9%in 2011 and 2.2% in 2012.

It also gave other statements which are stated below.

Greece to Follow Irish Philosophy

George Papandreou

With fears of the debt crisis looming large in the Greek economy, the experts have started following the business philosophy of Ireland which says that recovery cannot be estimated on the basis of traditional economic trends.

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