| | Sunday 24 June 2012 A MESSAGE FROM TOM On Thursday night Moody's, the credit ratings agency, downgraded its stance on many of the world's biggest banks, including RBS , HSBC and Barclays. Cue headlines. Shock horror. But what does this all mean? Not quite as much as you might think.
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The Week Ahead Debenhams facing tough comparatives
Department store group Debenhams is set to give a trading update on Thursday and broker Panmure Gordon thinks the positives should include the strong womens-wear collection at the recent autumn/winter 2012 show, and something described as 'a market-leading front end multichannel proposition.'
That being said, the company is going up tough comparatives from a year ago at a time when the High Street is having a rough old time of it. On top of that, Debenhams has 20 of its stores undergoing refurbishment in the second half of its financial year, which is sure to disrupt sales.
The statement is set to cover trading in the 16 weeks to June 23rd, with numbers also provided for a 42-week period to the same date.
"For the 16 week period to be reported next week, we think that 1.4% GTV [gross transaction value] growth and 1.3% LFL [like-for-like] sales decline are reasonable estimates," Panmure Gordon said.
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BOOK OF THE WEEK By Detlev Schlichter
A book review by James Faulkner of WatsHot.com "The US government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many US dollars as it wishes at essentially no cost," observed Ben Bernanke during his time as an academic before he became chairman of the Federal Reserve. Although Bernanke was speaking with reference to the response of policymakers in the face of a deflationary environment, there was essentially nothing radical about his prescription; the Fed had already been steadily increasing the money supply for some time.
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ALTERNATIVE BET OF THE WEEK Your local betting shop may be great for the footie, but you must go online for the truly weird bets.
This week: when will the Euro cease to exist as official currency?
Singles only. Applies to the date that the Euro ceases to exist as the official currency of any of the Eurozone 17 members (as at 01/01/2012). PP decision final.
| 2012 | 9/1 | | 2013 | 6/1 | | 2014 | 4/1 | | 2015 | 4/1 | | 2016 | 6/1 | | Still an official currency in 2017 | 5/4 |
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