Sainsbury’s reports £1bn group sales over Christmas week as sales edge up January 11, 2017 Sainsbury’s enjoyed a record Christmas week with over £1bn in sales across the group, with quarterly sales managing to edge up after analysts expected further contraction. The figures Like-for-like retail sales excluding fuel grew by 0.1 per cent over the third quarter of its trading year, and total retail sales grew by 0.8 per cent [...]
Vinyl resurgence to power through into 2017 with $1bn of sales expected January 11, 2017 Vinyl’s resurgence is expected to continue this year, with a new report today forecasting 2017 sales of $1bn (£0.8bn). Deloitte believes vinyl revenues will enjoy their seventh consecutive year of double-digital growth, with 90 per cent coming from new and used discs and the rest from turntables and accessories. Read more: Vinyl comeback led by David Bowie [...]
Corbyn’s Labour pains show no sign of easing January 11, 2017 One of the many problems with Jeremy Corbyn’s so-called “leadership” of the Labour party has been his complete failure to confront the biggest issue facing the country today – Brexit. At key moments, with the government’s approach to Article 50 attracting widespread criticism, Corbyn has been extraordinarily elusive. Even Iain Duncan Smith’s “quiet man” act [...]
Clint Eastwood’s lesson on economic forecasters’ Michael Fish moment January 11, 2017 Economic forecasters are in the dock. Last week, none other than the chief economist of the Bank of England, Andy Haldane, was confessing the crimes of the profession. The failure to predict the financial crisis was, Haldane said, economic forecasting’s “Michael Fish” moment. Thirty years ago, the BBC weatherman predicted that the UK would avoid the [...]
Thinking smaller: Why Tunisian olives hold the key to the UK’s post-Brexit trading success January 11, 2017 On reaching the Americas in 1519, Hernán Cortés burnt his ships. Pointing up the beach he told his astonished crew that, since retreating to Europe was no longer an option, the only way was forward to the possibilities he anticipated in the New World. Britain now stands on the brink of its Cortés moment. When Article [...]
It’s time Britain stopped dancing to the tech giants’ tune January 11, 2017 Few tears were shed last summer at the plight of Apple Corporation, whose sweetheart deal with the Irish government was ruled unlawful by the European Union to the tune of a £11bn fine. Predictably, Eurosceptic voices were raised on this side of the Irish Sea relishing the day when the UK will no longer be subject [...]
Buy-to-lose? With new restrictions on buy-to-let mortgages and the introduction of other punitive measures in 2017, is there any value left in letting for mortgaged landlords? January 11, 2017 As we enter 2017, the tide has truly turned against Britain’s buy-to-let landlords. First, George Osborne discouraged people from buying a second residential property by imposing extra stamp duty of 3 per cent. Now, the Bank of England is demanding that mortgage lenders “stress test” loans to landlords. Since 1 January, the Bank’s Prudential Regulation [...]
Rents are hitting an “affordability ceiling” January 11, 2017 Rental price growth more than halved last year as the nation hit "an affordability ceiling". UK rents increased by an average 1.7 per cent year-on-year in December, according to data from Homelet, down from rent inflation of 3.8 per cent last year. New tenants paid an average rent of £892 per month. Read more: Rents [...]
Here are the top 10 excuses for firms to dodge paying staff the minimum wage January 11, 2017 Employers have refused to pay the minimum wage because staff only make tea, aren't good workers or think of themselves as self-employed, the government has revealed. A bizarre list of excuses from employers has been revealed by the government ahead of a £1.7m marketing blitz on the minimum wage. The top ten list also includes one employer [...]
Corbyn’s relaunch shambles plunges Labour into fresh chaos January 11, 2017 Labour leader Jeremy Corbyn plunged his party into fresh chaos yesterday with a series of U-turns on his newly-minted plans to tackle high pay and deal with freedom of movement after Brexit. In a media blitz designed to relaunch his leadership yesterday morning, Corbyn had suggested the party would implement a “maximum earnings limit”, and [...]