Higher oil prices alone won’t rescue failing petro-states like Venezuela March 1, 2017 At the annual International Petroleum Week at Grosvenor House on Park Lane last week, all eyes were on Mohammed bin Saleh al-Sada, the Qatari energy minister. The dignitary was honoured with a special award, “International Oil Diplomacy Man of the Year 2016”, as one of the masterminds behind the production cuts agreed to last November [...]
Food prices are increasing at the fastest rate for two and a half years March 1, 2017 Food prices are increasing at the fastest rate for two and a half years as the fall in the value of sterling has forced supermarkets to pass on some of their costs to shoppers. Prices for food rose 0.4 per cent year-on-year in February, according to figures from Nielsen and the British Retail Consortium (BRC). [...]
Greggs hikes dividend as healthy food sales help boost profits February 28, 2017 Greggs has reported a jump in sales for last year, and has hiked its dividend after growing profits – but the baker is looking at job cuts as it aims for greater supply chain efficiency. The figures Total sales rose seven per cent to £894.2m from £835.7m, while company-managed like-for-like sales (which excludes franchises) went up [...]
Ministers must show they are pro-business by tackling costs in the Budget February 27, 2017 Momentum behind the post-Brexit consumer-spending boom appears to be slowing. As City A.M. reports today, a GfK poll found that UK consumers’ confidence took a turn for the worse this month, with the index slipping a point to a score of minus six. It would be easy to dismiss the dip as mere jitters but [...]
Businesses place trust in UK economy as consumers brace for inflation February 27, 2017 Businesses remain confident in the UK economy’s prospects despite consumers bracing for the impact of inflation, according to a long-running survey by the European Commission (EC). Confidence in the economy “markedly improved” to a 14-month high across industry and consumers, according to the survey, but expectations of rising inflation reached their highest point since January [...]
Discretionary income is “fading fast” as fuel prices squeeze families February 27, 2017 Growth in discretionary income is "fading fast" as fuel prices soared in January. UK families had an average £205 of disposable income available each week last month, according to Asda's income tracker, up 3.5 per cent on the same month the year before. Read more: Alarm bells sound over rising costs and inflation However growth [...]
Primark owner warns benefit of sterling’s fall will only last so long February 27, 2017 Primark owner Associated British Foods' (ABF) share price edged downwards this morning after it warned its boost from the devaluation of sterling will fade later in this year. The figures In its trading update, ABF said it expects Primark sales to be 11 per cent higher, when measured at constant currency, but that this growth would be "driven [...]
Prices on the rise: What next for inflation? February 23, 2017 Inflation is waking up Most of the major central banks are predicting rises in inflation. Price pressure was already beginning to build in 2016 as the world economy showed signs of improvement. Now the policies of a new Trump administration – lower taxes and increased government spending – could increase that pressure. The expectation among [...]
Britons spend £19,000 every year on bills February 17, 2017 British families spend almost three-quarters of an average wage on bills and accommodation, according to a new study. The average family in the UK spends £19,142.37 on the basics for a fully functioning home, including mortgages or rent, insurance, gas, and electricity, according to a study by Powershop UK. Utility bills on average comprised £520 [...]
Here’s some food for thought: The courgette crisis is no joke – the UK’s food security is at stake February 17, 2017 News of the so-called courgette crisis has been greeted with a certain amount of mirth in the press. The image of middle-class diners looking lost without their spiralized suppers after an uncommonly soggy winter in Spain was never going to provoke an outpouring of sympathy. However, a new report commissioned by Morrisons today suggests we [...]