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 [...]
Nestle misses long-term annual organic growth target for fourth year on the trot February 16, 2017 The KitKat, Smarties and Nespresso maker has announced another year of slowing growth in a tough environment and has slashed its sales growth target as a result. The news has left a bit of a bad taste in investors' mouths – shares edged down 1.37 per cent in early trading. The figures Nestle is aiming for sales [...]
Inflation: How far will UK consumer prices rise this year? February 14, 2017 Inflation has already hit a 31-month high, but economists are almost universally predicted a steep rise in consumer prices over the coming year. The Bank of England (BoE) expects consumer prices to rise to 2.7 per cent by the end of this year, but other economists think that might be at the more conservative end [...]
Inflation rises closer to Bank of England’s target rate as factory gate prices soar February 14, 2017 Consumer prices growth accelerated at the fastest rate in 31 months in January, raising pressure on the Bank of England (BoE) to tighten monetary policy as inflation approaches its two per cent target, while a big jump in producer prices threatens to squeeze margins for manufacturers. The consumer price index (CPI) of inflation rose by [...]
Now Sonos is hiking prices because of the weaker pound February 13, 2017 Trendy speaker maker Sonos has become the latest cult tech giant to announce it is increasing prices on its UK catalogue thanks to the weaker pound “Our prices are defined regionally,” the company said in an email to its customers. “In the UK, this includes local taxation and import duties, but we pay for everything we make in [...]
UK’s biggest firms report record results February 13, 2017 The UK’s largest listed companies weathered a difficult political and trading climate last year, posting upbeat results in the final quarter of 2016. Fourth quarter revenues increased by 5.5 per cent on a like-for-like basis, reaching a record of £116bn for the listed companies. Operating profits grew at their fastest rate in the last three [...]
Inflation to hit 1.9 per cent for January as London businesses battle fastest cost rise since 2008 February 13, 2017 Consumer price inflation is expected to reach 1.9 per cent in January, taking it to its highest level since June 2014. It comes as businesses in the capital have faced the fastest rise in input costs for more than eight years during January. IHS Global Insight forecasts a third successive marked increase for the Consumer [...]
UK high street records worst January sales performance for four years February 10, 2017 The embattled UK high street has had its worst January of trading for the last four years, according to new figures, with fashion retailers taking the biggest hit. Like-for-like sales on the high street fell by 0.1 per cent in January, as compared to the same month last year, according to figures from accountancy firm [...]
DFS warns of margin squeeze due to currency movements February 9, 2017 DFS has flagged that its margins are being eroded due to the fall in the value of the pound. The furniture retailer said that it was offsetting the effect of currency movements by negotiating prices with its suppliers. It also said that its ability to manufacture in the UK gave it a "competitive advantage". The [...]