Economy
FeedWhy your Sunday roast is set to soar
Adrian Holliday
Sep 3rd 2010
Filed under: Economy, Investing, Manufacturing, Retail
The price of Sunday lunch is going up. Or it will be if you haven't turned vegetarian. Lamb prices are at a near 40-year high. Pork prices have soared and beef prices are also rising fast. Even mince is rising. Something's clearly cooking - but not your roast dinner if prices continue like this.MEPs to control EU super-regulator
Chris Wheal
Sep 3rd 2010
Filed under: Economy, Investing, Financial Crisis, Insurance, Banking
Brussels MEPs have voted to create almighty super-regulators overpowering national regulators such as the UK's Financial Services Authority (FSA). The EU supervisory authorities (ESAs) and the European Systemic Risk Board (ESRB) should be up and running by January 2011. The MEPs are rejoicing at their power. Industry is rightly scared. Zara enters online fashion fray - at last
Adrian Holliday
Sep 2nd 2010
Filed under: Economy, News , Retail
Online fashion got a boost today with the new web opening of Zara. This has to be a smart (though overdue) move for the Spanish retailer - high street consumer confidence remains low while on-line shopping continues to boom. Witness similar online moves by key rivals H&M, GAP and Banana Republic.Germany drives Q2 EU growth lift
Adrian Holliday
Sep 2nd 2010
Filed under: Economy, Markets, News , Manufacturing
Eurozone gross domestic product (GDP) lifted by 1% in the second quarter, according to EU stats agency Eurostat. Eurostat also lifted its estimate relative to the previous 2008 second quarter - meaning eurozone growth in the first quarter climbed from 0.2% to 0.3%. These growth figures mean the EU outperformed both the US and Japan.Darling admits bonus supertax failed
Adrian Holliday
Sep 2nd 2010
Filed under: Economy, Personal Finance, Financial Crisis, Banking , Retail
Ex-chancellor Alistair Darling has admitted the 50% bankers' bonus tax failed. At a financial conference yesterday Darling told an audience that many bankers were "very good at getting out of these things". Given that Credit Suisse sprang a surprise round of bonuses on 400 of its top London bankers, Darling's timing was right on the money.Managers jump back into UK equities
Adrian Holliday
Sep 1st 2010
Filed under: Company, Debt, Economy, Personal Finance, Retail
Apparently the double-dip fears are overdone. Or perhaps fund managers have a more reliable crystal ball than the rest of us. Whatever it is, fund managers are starting to pour their cash back into UK equities. So maybe there are reasons to be cheerful about the economy?Credit Suisse does U-turn on bonuses
Adrian Holliday
Sep 1st 2010
Filed under: Company, Economy, Taxes
When is a bonus not a bonus? Answer: when it's a discretionary leadership award. That's at least how Credit Suisse appear to be nipping around ex-chancellor Alistair Darling's bankers' bonus tax. Around 400 Credit Suisse bankers are likely to benefit from the new windfall payments made today.Osborne attacked for CPI benefits link
Adrian Holliday
Sep 1st 2010
Filed under: Economy, Personal Finance, Budget 2010, Pensions, Public Services
George Osborne has drawn new fire on his decision to link benefits and pensions with the Consumer Prices Index (CPI) rather than the Retail Prices Index (RPI). The Royal Statistical Society (RSS) has questioned whether the move is fair to the UK's poorest, as CPI inflation is considerably lower than the RPI rate.Manufacturing in UK and Eurozone falls
Adrian Holliday
Sep 1st 2010
Filed under: Company, Economy, Job Focus, Manufacturing
It was good while it lasted. Growth in the UK's manufacturing sector has lost its zip. The new Markit/Chartered Institute of Purchasing and Supply Manufacturing PMI index slipped to 54.3 last month from an already downwardly revised 56.9 in July. This is a shock result, below analyst estimates. Eurozone growth has also faltered.Jobless rate to hit 10% in the North
Omotola Akerele
Aug 31st 2010
Filed under: Economy, Job Focus, News
Unemployment rates will hit 10% in certain parts of the UK by 2015, according to latest research by the Centre for Economics and Business Research (CEBR).Severe public spending cuts coupled with slow growth in the public sector is expected to increase the number of jobless brits in the North of England and in Wales.
Tesco under fire in "secret" land deal
Adrian Holliday
Aug 31st 2010
Filed under: Economy, Small Business, Investing, Retail
Did Tesco buy a town centre through a front company then let it deteriorate so it could land a regeneration deal? Accusations of underhand tactics from UK major retailers aren't new. But a report in today's Times alleges a shopping centre in Linwood, Renfrewshire was deliberately let go to seed by Tesco via front vehicle Edinburgh-based Balmore Properties.UK lending continues to deteriorate
Adrian Holliday
Aug 31st 2010
Filed under: Debt, Economy, Mortgages, News , Banking
UK lending remains mired in trouble. Total net UK lending fell off a cliff in July, plummeting to just £86m compared to £518m in June, according to new Bank of England figures. The new credit data is amongst the worst ever recorded since records began in 1993.Consumer tech spend picks up
Guy Clapperton
Aug 31st 2010
Filed under: Economy, Technology, Retail
Consumer technology is one of the first sectors to come out of recession, according to figures just released by research company Mintel. That's the theory but it doesn't stack up against what's happening in America as we've reported previously.Consumer confidence soars in August
Adrian Holliday
Aug 31st 2010
Filed under: Debt, Economy, News , Retail
Consumer confidence is back - at least, until the next consumer confidence survey tells us that it isn't. But if you put your trust in surveys, the latest GfK NOP consumer confidence looks bullish: this index advanced four points in August, the biggest increase since February. Of course, you could argue some consumers were enjoying an end-of summer blow-out.Crossrail delay could see Boris quit
Adrian Holliday
Aug 30th 2010
Filed under: Company, Economy, Investing, Job Focus, Public Services
Will Crossrail survive the spending cuts? The 72-mile West-to-East London line could be held back another year in an effort to save cash. The issue is hugely significant for London mayor Boris Johnson - who could even resign if George Osborne delays on the £16bn project come his October spending review.
