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Corporate profits at all time high { April 3 2007 } Original Source Link: (May no longer be active)    http://www.ft.com/cms/s/56c494c8-e213-11db-af9e-000b5df10621.html http://www.ft.com/cms/s/56c494c8-e213-11db-af9e-000b5df10621.html Corporate profits at all-time high By Chris Giles, Economics Editor Published: April 3 2007 22:05 | Last updated: April 3 2007 22:05 Corporate profitability rose to its historically highest level at the end of last year as manufacturing and service sector companies benefited from strong sales growth combined with lower energy prices and subdued wage pressures. Economists said soaring profitability in the fourth quarter augured well for business investment, underpinning the Bank of England’s strong growth forecast for this year. The net rate of return on capital rose to double-digit levels even in manufacturing. With corporate spending likely to remain strong and business surveys suggesting companies will not fully pass on lower energy costs to customers, pressure on the Bank to put up interest rates – perhaps as early as Thursday– has been intensifying. Traders in the money markets reckon there is now nearly a 50:50 chance the monetary policy committee will raise rates to 5.5 per cent this month. A rate rise certainly would not shock the markets as it did in January. Official figures on Tuesday showed the net rate of return on capital in non-oil UK companies rose to 14.7 per cent in the fourth quarter last year; the highest rate of profitability since quarterly figures were first published in 1989. Including profits made on North Sea operations, the 15.1 per cent net rate of return for the whole of 2006 showed UK corporate profitability was at its highest level for more than 40 years. Adrian Cooper, economic advisor to the Ernst & Young Item Club, said: “Profitability is at record levels. This is at last feeding through to strong business investment, which is now the most dynamic driver of GDP growth.” The Treasury expects real capital investment to increase by between 6.5 and 7 per cent this year after 6.5 per cent growth last year. Copyright The Financial Times Limited 2007

100d oil not due to supply { November 28 2007 } Anti smoking ads increase teen smoking Apple computer founder asks music drop copyright { February 7 2007 } Bcci model used to fund terrorists with gold { February 17 2002 } California oil field explosion pushes oil over 60 { January 2007 } Ceo of oil services brides alaskan lawmakers { May 7 2007 } Chiquita funded death squads in colombia { June 2007 } Chiquita paid colombian terror group for services { March 15 2007 } Coca cola gains big markets in china india { June 2007 } Commodity speculators causing high oil prices { October 2007 } Concern over halliburton move to dubai { March 12 2007 } Congress bribing elites with earmarks { June 29 2007 } Corporate profits at all time high { April 3 2007 } Crude oil hits 80 a barrel for first time { August 2007 } Crude rises to above 96d on supply dollar { October 2007 } Depression drugs prescribed needlessly { April 3 2007 } Doctors over prescribing drugs { April 13 2007 } Ethanol uses more oil than saves { May 2 2007 } Experts blame gas prices on refinery problems { May 8 2007 } Exxonmobile posts largest profit of US company Fruit companies pays almost 2m to terrorists { March 21 2007 } Gas prices at 1980s record highs { May 21 2007 } Gas prices hits record high { May 14 2007 } Gasoline may rise to 4 dollars gallon { March 2007 } India small businesses protest walmart { February 22 2007 } Indian mom and pop shops protest walmart Lawmakers try to cut welfare to wealthy farms Mideast tensions send oil to record highs { September 2007 } Monsanto bribes indonesian officials to change law { March 7 2007 } Oil approaches 90d a barrel { September 2007 } Oil companies write cheney energy bill { July 18 2007 } Oil prices rise above 71d a barrel { June 2007 } Oil prices up after drop in refinery production { July 13 2007 } Oil prices up after violence in nigeria { June 2007 } Opec blames US refineries for gas prices { July 13 2007 } Refinery woes push gas prices past 3d { April 2007 } Tensions with iran drive up oil prices { February 2007 } Weak dollar blamed for high oil prices at opec { November 19 2007 } Files Listed: 38

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