Retail footfall figures dropped in August due to heatwave and inflation September 10, 2018 The summer heatwave and food price inflation halted three months of retail footfall growth on the high street in August. Overall retail footfall dropped by 1.6 per cent on the previous year, with the sharper decline due to rising food inflation, which left shoppers with less money for non-essential items, the British Retail Consortium (BRC) revealed [...]
Sweet relief: Primark boosts revenue to alleviate owner ABF’s sugar woes September 10, 2018 Despite a gloomy outlook for retailers, Primark expects to increase revenue by 1.5 per cent to boost profits this financial year, offsetting a fall in sugar prices in Europe for owner Associated British Foods (ABF). Strong first and second half sales are expected to help the budget clothes brand to post the increase, with UK [...]
Greene King gets a World Cup boost as it presses ahead with pub sales September 7, 2018 Pub group Greene King sold 3.7m pints of beer during the World Cup, helping it to post solid growth figures ahead of its AGM today. But the company is to press ahead with cost-saving measures and making its estate smaller through the disposal of around 100 pubs this year. The figures In the 18 weeks to 3 [...]
Hot weather and high fuel prices drive consumer spending up in August September 4, 2018 Consumers spent an extra 4.5 per cent year-on-year in August, driven by hot weather and high food and fuel prices. Spending on petrol climbed to 10.9 per cent, while there was a five per cent increase in supermarket spending. Brits also flocked to pubs to enjoy the last of summer, spending 11.9 per cent more [...]
Turkey’s central bank vows to act as inflation hits 18 per cent September 3, 2018 Turkey's central bank has pledged to take action as it was revealed that inflation hit almost 18 per cent last month amid a deepening financial crisis. The Consumer Price Index was up to 17.9 per cent in August compared to the same month last year, the Turkish Statistical Institute said. Inflation figures for July were [...]
Eurozone inflation slows in August but misses European Central Bank target August 31, 2018 Inflation in the Eurozone area slowed to two per cent this month, narrowly missing the European Central Bank (ECB) target. The drop of 0.1 per cent from 2.1 per cent in July this year has kept inflation above the ECB goal of just under two per cent. Energy is expected to have the highest annual rate this month at [...]
Venezuela sinks ever lower as the state tightens its grip August 29, 2018 Life in Venezuela is now unimaginably hard. In recent years, we have watched as this once prosperous country descended into poverty, chaos and political turmoil. The United Nations estimates that more than two million Venezuelans have fled the country since 2015, with thousands more attempting to pour over the boarders of neighbouring countries every day. [...]
British shop prices rise for first time in five years August 29, 2018 British shop prices have risen for the first time in five years as hot weather and the rising price of oil conspired to add to inflationary pressure. Shop prices increased by 0.1 per cent in August 2018 compared to last year, figures from the British Retail Consortium, prepared by Nielsen, will today show. The rate [...]
Gartner Hype Cycle 2017: Artificial intelligence at peak hype, blockchain heads for disillusionment, but say hello to 5G August 17, 2018 The hype around artificial intelligence is at its peak, while those interested in blockchain might be heading for disillusionment. That’s according to Gartner’s annual Hype Cycle, which tracks the progress of emerging technology trends, from early innovation to becoming a household must-have. Deep learning and machine learning are at what it calls the “peak of [...]
Even the Venezuelan President knows that socialism has failed August 10, 2018 Venezuela is back in the news, with a plot straight out of a Netflix drama storyline. The apparent assassination attempt on President Nicolas Maduro last Saturday has everything: a drone explosion during the President’s speech, the terrified reaction of his wife captured during a live broadcast, and now a slew of accusations and counter conspiracy [...]