Premier Foods has no plans for price increases as cost inflation ‘now past its peak’ July 20, 2023 Mr. Kipling maker Premier Foods said that it now believes that the recent period of significant input cost inflation has “now passed its peak”, with the group no longer planning for further price increases during the year. It comes as inflation fell to its lowest level this year of 7.9 per cent, giving shoppers hope [...]
Netflix: Subscribers up, password sharing down, as clampdown pays off July 20, 2023 Netflix has gained nearly six million subscribers this quarter as its password sharing clampdown bears immediate fruit. Announcing its second quarter results, the company said paid subscribers grew by 4.14m April through June as they rolled out so-called paid sharing in over 100 countries. The firm had become aware that a number of users of [...]
Dunelm revenues reach £1.63bn as price cuts lure customers in July 20, 2023 Dunelm reported a revenue rise of six per cent over the past year, with the homeware retailer predicting profits to be “slightly ahead” of current market expectations. The Leicester born business said revenues reached £1.63bn in the 52 weeks to July up from £1.55bn in the same period last year. Sales growth declined -8.3 per [...]
Mid-market M&A remains resilient as UK market hopes for deal surge July 20, 2023 Mid-market deal activity in the UK has remained resilient despite a fall in the overall level of deals year-on-year, according to new data from Big Four firm PwC. In the first half of the year mid-market deals worth less than £1bn increased 1.8 per cent in the UK as smaller deals remained easier to finalise [...]
Bank of England must keep raising rates to finally kill off inflation, City experts say July 20, 2023 The Bank of England should not yet let up on raising interest rates to ensure inflation has finally been defeated. That’s the verdict of City economists despite the Office for National Statistics today revealing the cost of living fell faster than expected to 7.9 per cent in June, down from 8.7 per cent in May. [...]
Sunak and Starmer have both realised just how close they are to an election July 20, 2023 Political cunning and policy gimmicks won't distract voters if their lives haven't improved, Will Cooling writes, on Sunak's war on universities and Starmer's U-turn on the two child welfare cap.
No, Britain doesn’t need our own Inflation Reduction Act as long as we believe in trade July 20, 2023 You only need to enter an arms race in green subsidies if you don't believe in the power of free trade.
The big beasts of banking, supermarkets and tech are behind our productivity slump July 20, 2023 Big monopolies stifle innovation through their total control of market power and patents. We need to break this vicious cycle if we want our productivity back, writes Paul Ormerod
Inflation tumbles faster than expected to its lowest level in over a year at 7.9 per cent July 19, 2023 Inflation has slimmed to its lowest level in over a year and is falling faster than expected, raising the chances of the Bank of England hiking interest rates at a slower pace next month, official figures out today reveal. The rate of price growth fell to 7.9 per cent in June, down from 8.7 per [...]
UK house price growth slows to 1.9 per cent in May July 19, 2023 The average price of a UK house cost £286,000 in May, according to new government data, with the figure being £6,0000 up on 12 months ago – but £7,000 below its September peak. Average UK house prices increased by 1.9 per cent in the 12 months to May 2023, down from a revised 3.2 per [...]