2013 Christmas quiz: Test your knowledge December 19, 2013 Ian Stewart, Deloitte’s chief economist, poses the trickiest economics questions of the year 1. Between spring and autumn 2013, which of these countries received the largest upgrade to its 2013 GDP growth forecast from the IMF? a. Indiab. United Statesc. United Kingdom 2. Which luxury asset class saw the biggest increase in value between 2003 [...]
It’s time to break the Whitehall silo and put startup discipline into government December 3, 2013 THE CURSE of Norman Lamont makes politicians wary of mentioning the “green shoots” of recovery. But when the data show growth of 0.4 per cent, 0.7 per cent and 0.8 per cent in the first three quarters of 2013, it’s clear. The UK is off life support. Sure, the recovery is heavily consumption-led, with exports [...]
Small firms look to start hiring as tax cut nears September 16, 2013 MORE small companies intend to take on additional staff in the third quarter than at any time in the last three years, according to new research released today. The Federation of Small Businesses (FSB) reveals that 15 per cent have increased staff numbers in this quarter, and have positive intentions for the near future. In [...]
Ryanair issues profit warning as weakness in Autumn season appears September 4, 2013 Budget airline Ryanair has issued a profit warning, announcing that it expects full year results to show profit at the lower end of the expected range of €570m to €600m (£482m to £508m). Full year traffic is also expected to come in lower at 81 million from 81.5 million previous. CEO Michael O'Leary said that [...]
H&M comparable sales fall during June for the first time since March August 15, 2013 THE WORLD’S second-biggest apparel retailer Hennes & Mauritz yesterday unexpectedly posted a small decrease in July like-for-like sales, the first monthly drop since March. Sales in stores open at least a year at the Swedish budget fashion firm were down one per cent in local currencies in July from a year earlier. Total sales in [...]
Rapid responses January 8, 2013 Planning inflation [Re: Daft planning rules are pushing up the price of food in shops, yesterday] While it is always good for an article about planning policy to focus on commercial property rather than housing, and while the academics cited may have delivered interesting papers, let’s not use this work to justify more fiddling with [...]
Zipcar makes getaway with $500m in boot January 2, 2013 CAR-SHARING company Zipcar was yesterday bought by rental giant Avis Budget for $500m (£307m), handing the established company the leading position in the fast-growing car club business. Zipcar offers an alternative to car ownership by allowing its members to use thousands of vehicles in cities across the world, with usage charged on an hourly basis. [...]
Top Bank of England economist warns over UK’s sticky inflation December 12, 2012 THE BANK of England’s chief economist, Spencer Dale, warned yesterday that inflation could continue to stick above target, tightening the squeeze on UK households’ budgets. Stubbornly high inflation has been prompted by unavoidable yet “painful adjustments” in the economy such as sterling’s depreciation and higher VAT, while tumbling productivity has also hit the economy, Dale [...]
Our at-a-glance guide to Osborne’s mini-Budget December 5, 2012 THE UK ECONOMIC OUTLOOK ■ The Office for Budget Responsibility (OBR) has revised down its forecast for UK growth and revised up its forecast for public sector borrowing. It says the government is no longer likely to meet its target of reducing debt as a proportion of GDP in 2015-16, breaking its supplementary fiscal rule. [...]
Boris calls for renegotiation of deal with EU December 4, 2012 BORIS Johnson yesterday called for Britain to renegotiate its relationship with the European Union, saying he wanted a new deal based solely on trade agreements that would be put to the public in a national referendum. “Boil it to down to the single market, that’s the great achievement of the European Union, I think we [...]