Labour filibustering of EU membership referendum bill gets under way July 18, 2013 Labour MPs suggested no fewer than 11 amendments to the line in James Wharton’s private member's bill pertaining to the date that a referendum on Britain’s membership of the European Union must be held. In the original proposals, the bill reads: “The referendum must be held before 31 December 2017”. Labour MP for Wolverhampton North [...]
Crime figures a further boost for home secretary Theresa May July 18, 2013 The number of crimes committed in England and Wales fell by nine per cent in the year ending March 2013 – the lowest estimate since the survey began in 1981. The latest estimate form the Crime Survey for England and Wales (CSEW) estimate there were 8.6m crimes committed in this period, less than half the [...]
UK retail sales in June beat forecasts July 18, 2013 UK RETAIL sales in June beat forecasts to grow by 2.2 per cent year-on-year, a welcome sign for the UK’s burgeoning economic recovery. Sales grew by 0.2 per cent month-on-month, boosted by department store sales. “Feedback from department stores suggested sales had increased due to promotions and consumers buying clearance items across a wide range [...]
Pound gains as retail sales perform well in June July 18, 2013 (Source: ONS) Retail sales are up 2.1 per cent in the year to June, above the 1.6 per cent growth economists had been forecasting. The pound is performing better on the news. The growth into quarter 2 (0.9%) will therefore contribute approximately 0.1 percentage points to gross domestic product (GDP) when estimated from the output [...]
Copper shines brightest at Anglo American July 18, 2013 FTSE 100-listed miner Anglo American today unveiled a mixed production update for the second quarter, with copper output up 14 per cent and nickel down 22 per cent. While the surge in copper production beat forecasts, iron ore production slipped by one per cent, missing expectations of a slight increase. In contrast, both Rio Tinto [...]
Greece’s latest austerity measures could push government over the edge July 18, 2013 The narrow approval of fiscal reforms demanded by troika lenders in the Greek parliament late last night will put further pressure on Antonis Samaras’s government, potentially resulting in early elections. Robin Bew, chief economist and editorial director of the Economist Intelligence Unit, said today: #Greece agrees civil service layoffs to keep bailout alive. But politics [...]
UK decline drags down Mothercare sales July 18, 2013 MOTHER and baby retailer Mothercare today reported a 3.4 per cent decline in first quarter group sales, with its UK division impacted by the increasingly promotional nature of the market. UK like-for-like sales fell by 0.9 per cent, despite a 14.6 per cent increase in online sales. The British retailer closed 13 unprofitable stores in [...]
ECB’s Asmussen says that jobs should be at the centre of policymaking July 18, 2013 The European Central Bank's (ECB) Jorg Asmussen has said that the crisis which currently grips the Eurozone is not a product of the common currency, but of international business models and practices. He said that "austerity versus growth" is the wrong debate, and that fiscal consolidation will remain on the table, and that jobs should [...]
Eurozone current account surplus fell in May July 18, 2013 The eurozone current account surplus remained elevated in May at a seasonally adjusted €19.6, down from the revised €23.8bn recorded last month and marginally lower than the €20bn expected. The current account, which measures the net flow of current transactions like goods, services and interest payments in and out of the eurozone, remains down from [...]
Sports Direct’s profits surge 40 per cent July 18, 2013 BRITISH retailer Sports Direct today unveiled a 40 per cent rise in pre-tax profits to £207.2m, in what chief executive Dave Forsey called a "record-breaking year for the group and for British sport". The sporting goods vendor posted a 20.9 per cent increase in revenue to £2.19bn. Online revenue grew by 52.1 per cent, now [...]