November 2011 Archive

Chancellor's Autumn Statement: What it means for your finances

The Chancellor, George Osborne presented his autumn statement to parliament today

How do George Osborne's plans set out in today's autumn statement affect your money? We take a look at ten key areas and analyse the effect on the economy and you.

Christmas shopping set to suffer as CBI reports retail woe

The CBI reports a bleak outlook for retailers in the run up to Christmas

The CBI reports staff levels are falling in retail, sales are down and orders are falling to levels last seen in March 2009 and predicts a gloomy Christmas for retailers.

Ovo Energy cancels planned price increase

Independent energy supplier Ovo Energy has said it no longer intends to increase prices for its variable rate customers as it had planned.

Incahoot bring consumers together to save money on utilities

Incahoot bring consumers together to negotiate better deals

Ben Salisbury asks John Evans, the CEO of Incahoot how UK households can save money through bulk purchases and finds that insurance deals will join Incahoot's roster.

Dixons share price rises as losses decline

Dixons which owns Curry's and PC World has issued its latest interim results

The share price of UK electronics retailer has risen after the company posted its interim results that showed increased customer satisfaction and reduced losses.

British Gas boss admits customers have lost trust in energy firms

British Gas boss Phil Bentley has vowed to make energy bills simpler for consumers after admitting they have lost trust in the company.

Arcadia boss Sir Philip Green to shut 250 stores as profit slips

Sir Philip Green from Arcadia has seen his companies profits fall by 38%

Sir Philip Green, the boss of Arcadia which owns UK brands such as Top Shop, BHS and Wallis will shut between 200 and 260 stores as Arcadia profits fall by 38%.

Reduction in fuel costs not being passed onto diesel customers

The gap in the cost of a litre of petrol and diesel is now 7.25p

The AA reports that whilst petrol customers are paying less for a litre of fuel, diesel customers are not as the gap between the cost of a litre of both reaches 7.25 pence.

British Gas loses 200,000 customers since August

Customers have been deserting British Gas since it increased its prices in the summer, new figures have shown.

BRC criticises ONS's 'overly positive' picture of retail

The British Retail Consortium insists spending and sentiment are still down, despite positive figures from the Office for National Statistics.

Christmas retail hopes rise after ONS reports rise in UK sales

The ONS reported a 0.6 per cent rise in retail sales in October

The Office for National Statistics published retail sales figures for the UK in October which showed a surprise 0.6 per cent rise in some rare good news for the economy.

Centrica issues profit warning after warm start to autumn

Centrica's profits could be down due to the warm weather witnessed recently, it has said in a statement.

Tesco criticised by ASA over misleading promotion

The Advertising Standards Authority has criticised Tesco for not making a £20 cap on its refund policy clearer.

Unemployment rises to 2.62 million, youth levels breach 1 million

Unemployment increased to 2.62 million in September

The Office for National statistics released unemployment data for September which shows a rise above forecast and confirms that youth unemployment is above one million.

Customer satisfaction levels with energy suppliers plummet

SSE won this year's uSwitch energy company customer satisfaction awards

A new independent survey of energy users satisfaction levels with the big six shows a sharp fall notably in responses on value-for-money and customer satisfaction.

Bank of England quarterly inflation report preview

Sir Mervyn King will present the Bank of England's quarterly inflation report

The Bank of England publishes its quarterly inflation report tomorrow and is likely to cut the growth forecast for the UK economy to one per cent for both 2011 and 2012.

Government reveals details of second council tax freeze

Local Government secretary Eric Pickles has released the details of a second year of council tax freezes.

CPI inflation drops back to five per cent

CPI inflation fell to five per cent in October

The Office for National Statistics (ONS) has released October's inflation figures that show the CPI rate fell back to five per cent from 5.2 per cent in September.

MPs to debate issue of rising fuel prices

A parliamentary debate will take place today to discuss rising fuel prices, which motoring groups say is damaging the UK economy.

Poorer households pay higher proportion of fuel duty than rich

The proportion of government revenue through fuel duty has fallen over the last ten years.

The Office for National Statistics (ONS) has released data that shows the amount of money paid for fuel that goes to the government in duty has fallen in the last ten years.

End of cheap CDs as government closes tax loophole

Government reveals it will close Channel Islands tax avoidance loophole

The removal of Low Value Consignment Relief for companies in the Channel Islands is to take place in April 2012, which could push up prices for shoppers.

Sainsbury's half-year profits up by 6.6% due to cost savings

Sainsbury's has revealed that its profits are up by 6.6 per cent due to cost-cutting and carefully-targeted marketing campaigns.

M&S and Primark post solid results but Christmas retail cheer low

Marks & Spencer reported a slight fall in sales and profits in the six months to Oct 1st

Marks & Spencer and Primark both published solid results today but the British Retail Consortium reported slowing sales in October and concerns about Christmas.

BRC reveals a disappointing October for retailers

October 2011 proved to be a disappointing month for UK high street retailers as cautious consumers cut back on their spending, new figures have shown.