Inflation hit costs British households £24bn in 2017 January 15, 2018 The rising tide of inflation has cost British households an extra £24bn in 2017, with commuters suffering the most, new analysis to be published today will reveal. The increase in inflation seen from 2016 to 2017 cost Britons more than £900 per household, according to Simon-Kucher and Partners, a consultancy. The rise in transport prices [...]
Increasing prices will hurt the retail sector in 2018, according to this think tank December 28, 2017 The retail sector will “flatline at best” next year, according to predictions issued by the KPMG/Ipsos Retail Think Tank (RTT). The group made its lacklustre forecast based on a combination of “continued headwinds in the form of geopolitical and macroeconomic obstacles; an increased number of regulatory compliance issues and ongoing structural change within the industry”. [...]
Bitcoin bubble grows as banks fall flat December 1, 2017 Bitcoin continues to defy expectation. It recently reached and passed a milestone, that of the $10,000 mark, an incredible feat considering it was worth less than £1,000 at the start of 2017. Nobody can quite agree as to why it’s so strong, but a parallel to its soar in value is its huge popularity in [...]
Manufacturing output rises again to hit 30-year high on UK order books November 21, 2017 Manufacturing order books have filled up to the strongest level for nearly 30 years. Total orders in the three months to November were the strongest since August 1988, according to the CBI. Meanwhile export order books were at the joint highest for more than 20 years. Anna Leach, the CBI’s head of economic intelligence, said: [...]
Venezuela is in default says influential ratings agency S&P Global November 14, 2017 The Venezuelan state is technically in default, in a development which threatens to compound the unfolding economic disaster in the country, according to an influential ratings agency. The South American nation failed to make $200m (£153m) in coupon payments for its global bonds due in 2019 and 2024 within a 30-day grace period, according to [...]
Fears of a nightmare before Christmas for UK retailers as footfall and spending dip November 13, 2017 Retail analysts fear a nightmare before Christmas for British shops as figures published today show weakness ahead of the crucial holiday spending spree. Footfall in UK retailers fell by two per cent year-on-year in October, according to figures from the British Retail Consortium (BRC) and Springboard. The decline in the number of shop visits was [...]
Marks and Spencer (LON:MKS) share price: Steve Rowe promises to “make M&S special again” as sales and profits slide while CFO Helen Weir steps down November 8, 2017 Marks and Spencer Group’s profits fell in the first half, as the retailer faced additional headwinds in its food business and continued the struggle to boost clothing sales. The group also confirmed reports that its chief financial officer, Helen Weir, will leave the company in due course. Shares in the company rose 3.5 per cent [...]
Debehams share price: Short sellers pile in to bet against Debenhams ahead of Christmas shopping season November 7, 2017 The City appears to be pessimistic about Debenhams’ prospects this Christmas, with the amount of short-selling of the retailer’s stock rising to its highest level for more than four years. According to data from the Financial Conduct Authority, the amount of stock borrowed by hedge funds to bet against Debenhams’ fortunes has ramped up in [...]
UK inflation rises, adding to pressure on rates October 20, 2017 There are two key domestic issues this week for UK financial markets. One is the latest inflation news and the implications for interest rates. The second is the ongoing Brexit discussions and what might the latest phase imply for settling. Let's focus here on the inflation news. This week's data release showed that inflation rose [...]
Co-op Group increases membership but profits dip in first half September 21, 2017 The Co-op Group today announced it added more half a million members in the first half of the year – but revenue and profit dipped. The figures Revenue in the 26 weeks to 1 July came in at £4.64bn, down from £4.7bn in the same portion of last year. Operating profit dropped to £51m from [...]