But I’ve been in the job for 30 years and you can get past your sell-by date

“But I’ve been in the job for 30 years and you can get past your sell-by date. For two years from 1983 Apricot Computers outsold the mighty IBM in Britain.Apricot still flourishes, of course, though under new ownership. ACT sold the computer manufacturing business to Mitsubishi in 1990 to concentrate on software.”I suppose it’s a sad day,” Mr Foster said yesterday. The event was played out in the stark surrounds of a merchant bank where Mr Foster announced he had agreed to sell his 30-year-old company ACT, formerly know as Apricot Computers, to a rival group. This might not sound worthy of mention outside of computer circles but it was under Mr Foster that Apricot shot to nation-wide attention in the computer boom of the early 1980s.
Sir Clive Sinclair sold his computers business to Amstrad; Acorn had to be rescued by Olivetti, but for a few years Apricot was a British computer that was holding its own. There was a little bit of computer industry history yesterday when Roger Foster – the man know as Mr Apricot – waved goodbye to his baby.

The Bank of England will have to have a lot of gumption to meet that target.”. Both were stronger than expected in December.The Confederation of British Industry’s survey of retail and wholesale trade, published today, showed high-street trade was weaker than retailers expected, perhaps suggesting that price rises can still not be passed on to consumers. Alastair Eperon of the CBI said: “The survey suggests that on an underlying basis high-street trade is still growing only modestly.”Some economists said that even higher base rates were indicated. Kevin Darlington at Hoare Govett said: “We will require much higher interest rates to keep retail price inflation around 2.5 per cent. “Core” factory-gate prices, excluding food, drink and tobacco and thus the excise duties, also rose 0.5 per cent.The clear evidence of a bulge of higher inflation working its way along the chain has focused attention on January’s retail prices and retail sales figures, to be published on Wednesday.

Leo Doyle, an economist at Kleinwort Benson, said the pressure from commodity prices would continue to affect manufacturers for another few months.Prices charged at the factory gate rose 0.9 per cent last month – or 0.5 per cent after seasonal adjustment. Their year-on-year rate of growth climbed to 3.4 per cent after being as low as 1.9 per cent last summer.The biggest price rises were passed on by the same industries paying the biggest increases in materials costs – namely rubber, metals, textiles and chemicals.Higher excise duties introduced in the Budget should have added 0.4 per cent to prices charged by producers, but the higher rates were not fully passed on. Others suffering double-digit rises included food manufacturing, textiles, paper and publishing, and chemicals.Although commodity prices have fallen recently, the drop has been small relative to their increase over the past year. The biggest cost increases came in industries dependent on commodities whose prices have risen sharply.Prices paid for materials by the rubber and plastics industry were 20.4 per cent higher last month than a year earlier, while input prices rose 17.3 per cent in basic metals industries. Shares fell, with the FT-SE 100 index closing 28.8 points lower at 3,081.1.Prices paid by producers for inputs jumped 1.3 per cent last month, to a level 11.5 per cent higher than a year earlier, after adjustment for seasonal variations. Prices charged at the factory gate rose by far more than expected, taking their year-on- year rate of growth to the highest since last February.
The shock hit long-term gilts and the pound, which approached its 1994 low of 2.3710 against the mark.

Official figures published yesterday provided clear evidence of the growing cost pressures on inflation

Firms also passed on more of their cost increases. The prices manufacturers have to pay for their materials and fuels are rising at their fastest rate for nearly 13 years. “The director changes were unavoidable stuff but it does not alter the critical problem of how they run the businesses in tough markets.”The shares dipped 3p to 426p.. It was difficult to justify their position on the board.” Another said the clear-out intensified the pressure on Sir Geoff to turn Kingfisher around. It’s not been easy for Geoff to make a decision like this.”Analysts regarded the departures as inevitable. One said: “They have paid the price for the previous problems.

In particular I would like to thank Nigel for his contribution over many years.”Nigel Whittaker declined to comment yesterday but a spokesman said: “It’s been a long-term partnership and I imagine it is quite an emotional time for them. Mr Whittaker will stay on “for a while” to hand over some of his responsibilities.Sir Geoff said: “What we are doing is refocusing management more clearly and making those responsible for running the businesses more accountable Unfortunately changes of this kind means casualties We are sorry to be losing both Nigel and Tim. Last month Kingfisher announced that the chief executive, Alan Smith, and finance director, James Kerr-Muir, were to leave the group and that the former chairman, Sir Geoff Mulcahy, was to take the reins as chief executive.Neither Mr Whittaker nor Mr Breene will depart immediately. Their roles “are no longer appropriate”, the company said.
Both are on controversial three-year rolling contracts and will be entitled to substantial compensation.