Competition for scarce resources may bring the West to a standstill October 10, 2012 THERE are limits to growth. Extra economic activity in emerging economies can lead to less growth for us in the West. At least partly, global economic growth is a zero sum game. Restrictions in the supply of minerals, energy, food and water mean growth is likely to be constrained. If we are lucky, world growth [...]
Big supermarkets fight to master a changing market October 3, 2012 TESCO’S first fall in profits for almost two decades suggests a watershed moment for the supermarkets. On one side, the race for space against a backdrop of generous margins; on the other, an altogether tougher battle for bargain-conscious, internet-savvy and convenience-oriented customers as margins shrink. Yesterday’s results were a worrying suggestion that Tesco is losing [...]
Heavy discounts on clothing helps lower shoppers’ costs October 2, 2012 SHOP PRICE inflation slowed down in September, data from the British Retail Consortium (BRC) and Nielsen showed yesterday, driven by falling prices for non-food goods. Overall, shop prices were up one per cent in September compared to the same month in 2011, whereas in August prices were up 1.1 per cent on the year before. [...]
OECD says inflation becoming faster in developed countries October 2, 2012 INFLATION edged up across the OECD group of developed economies, according to data released yesterday, with upward pressure from fuel and downward pressure from food. Inflation was two per cent in the year to August, the OECD said, up from 1.9 per cent in the year to July. This was driven by a boost in [...]
Retail failures fell last quarter but fail to improve from 2011 September 30, 2012 THE NUMBER of UK retail failures showed no sign of abating in the first nine months of the year, as retailers continued to struggle against a tough economic backdrop and weak consumer spending. Figures from accountancy firm Deloitte show that although retail administrations fell in the third quarter – from 33 last year to just [...]
Finsbury Foods reports great bake-off as sales top £200m September 24, 2012 FINSBURY Food Group, the cake and bread maker, yesterday posted a surge in full-year profits across all of its divisions after sales exceeded £200m for the first time. The Aim-listed company, which supplies retailers including Waitrose, Tesco and Thorntons, said adjusted profits before tax rose 11.6 per cent to £6.5m for the year to 30 [...]
Bank of England warns inflation could fall less rapidly than expected September 19, 2012 The Bank of England sees a worsening outlook for inflation, minutes from its September meeting showed this morning, as the members voted unanimously to keep the base rate at 0.5 per cent. The central bank said increased oil prices, which rose eight per cent on the month, and the threat of higher food and utility [...]
Wages crushed as inflation set to rocket again September 18, 2012 HARD-PRESSED workers took another blow in August as inflation stayed persistently above wage rises for the 27th consecutive month. Economists fear inflation will jump yet again towards the end of this year and could even hit three per cent again in 2013, increasing the pressure on household budgets even further. Consumer price inflation came in [...]
Twenty-four carat case for gold September 18, 2012 AS WARREN Buffett famously said: “You can’t eat gold.” But US dollars are not particularly nutritious either and neither are pounds sterling. However, the amount of food you can buy with your gold is steadily increasing, and has been for the last decade; whereas what you can buy with a wallet full of fiat currency [...]
Inflation drops to 2.5 per cent in August September 18, 2012 Inflation fell to 2.5 per cent in August, spurred by a fall in the price of gas, household equipment and clothing, according to official data out this morning from the Office for National Statistics. The Consumer Prices Index measure of inflation, fell to from 2.6 per cent in July. It was partially offset by a [...]