Education fails to prepare Brits for jobs market October 8, 2013 PUPILS in England are among the least well prepared in the developed world for the reality of modern labour markets, according to a shocking report released yesterday. Research by the Organisation for Economic Co-operation and Development (OECD) reveals that England is the only advanced economy in which the youngest generation leaving education is less literate [...]
Apec vows to boost trade as slump forecast October 8, 2013 LEADERS of countries in the Asia-Pacific Economic Co-operation (Apec) group pledged to offset weaker growth in trade yesterday, even as the International Monetary Fund (IMF) sliced forecasts for commerce. In a prepared statement, the countries meeting in Indonesia said: “Global growth is too weak, risks remain tilted to the downside, global trade is weakening and [...]
Recovering Ireland to slow pace of tax hikes and spending cuts October 8, 2013 IRELAND’S government yesterday said it has been given permission to slow the pace of its spending cuts by international lenders. The state was bailed out after a promise to rescue its banks tipped the government into bankruptcy. And after years of tough spending cuts the economy is now recovering, improving the state of public finances [...]
Low growth in emerging world as India hit hard in September October 8, 2013 INDIA recorded the sharpest contraction in activity for over four years this September, according to HSBC’s emerging markets index, released this morning. The index suggests that Indian activity declined in every month of the third quarter, seeing the worst period since the middle of 2009. Emerging markets pointed to another month of meagre expansion. The [...]
Researchers say Eurozone crisis unresolved despite new growth October 8, 2013 DESPITE signs of a recovery in the Eurozone, much of the region’s crisis remains unresolved, according to a report released yesterday. According to researchers at Capital Economics, with peripheral Europe still crippled by high unemployment and debt, and Germany still reticent to quicken steps towards banking union, the currency bloc is not out of the [...]
AG Barr hires its first female non-executive October 8, 2013 SCOTTISH soft drinks company AG Barr has appointed its first female non-executive to its all-male board. The Irn-Bru maker announced yesterday that Pam Powell, a UK-based American who also sits on the board of Premier Foods, will join the group on 1 November. The 50-year-old spent nine years at brewing giant SAB Miller as director [...]
John Lewis retains crown as Britain’s most trusted retailer October 8, 2013 JOHN LEWIS has been voted Britain’s most trusted retailer, according to research out today that showed that overall trust in retailers has hit a four-year low. Of the 10,000 shoppers surveyed by consultancy firm OC&C Strategy, 96 per cent said they trusted the department store group, followed by other heritage brands Marks & Spencer and [...]
Sainsbury’s sees fall in disposable income in 2013 October 8, 2013 BRITISH consumers are likely to have less disposable income this time next year, the boss of Sainsbury’s said yesterday, casting further doubt on the speed of economic recovery. Official data and surveys have shown an improving outlook for UK consumer spending, which generates about two-thirds of gross domestic product, but retailers remain wary as inflation [...]
Kingfisher to shift sourcing away from China October 8, 2013 KINGFISHER, Europe’s biggest home improvements retailer, said yesterday it planned to source more products from eastern Europe and Turkey to counter higher costs in China, and build a central warehouse in Europe to improve its supply chain. The company, which owns B&Q and has suffered from weak demand due to sagging housing markets in many [...]
Spanish fashion empire Mango plots launch of 200 megastores October 8, 2013 SPANISH fashion retailer Mango unveiled plans yesterday to launch 200 megastores by the end of next year that will house all of its brands under one roof. The brand is aiming to increase the size of its shops to between 8,600 square feet and 32,000 sq ft. The average size of Mango units is currently [...]