June 2012 Archive

Tesco boss Clarke says could pull out of US if no improvement

Tesco shareholders have agreed to the company's pay deal

Tesco boss Philip Clarke says the firm could pull out of the US like it did in Japan if its fortunes do not improve and the business does not become a success.

Latest GDP figures confirm UK economy is in recession

Gross domestic product (GDP) contracted by 0.3 per cent in the first quarter of this year, confirming that Britain is in recession, latest official figures show.

Government ‘stalling’ on credit and debit card surcharge ban

Brits 'still paying hefty card surcharges'

Consumers are still paying hefty debit and credit card fees because ministers are dragging their feet on imposing a ban on surcharges, Which? is claiming.

Austerity Britain punishing middle income households

Poorest Brits also hit by indirect tax hikes

The middle fifth of UK households saw their incomes slashed by £1,100 to £24,400 in the year to April, an official report has revealed.

Osborne delays 3p fuel duty increase

George Osborne has postponed a planned rise in fuel duty

The Chancellor, George Osborne has announced a postponing of the 3p a litre fuel duty rise until January 2013 in another budget u-turn.

Energy Savings Trust report says £1.3b wasted by not switching off

Standby mode clocks up on the electricity bill

Households are throwing away up to £1.3 billion a year by leaving PCs, TVs and other appliances plugged in or left on standby when not in use, new research reveals.

Three quarters of UK stores resort to slashing prices

More than seven in 10 shops are holding a sale

Desperate retailers are cutting their prices in a bid to attract business after dismal weather hit customer footfall, latest research reveals.

Water bills to be means tested to help poorest 2.4m households

Poorest consumers could get lower water bills

Water companies will be given the power to cut their prices for the poorest customers under new ‘social tariffs’ revealed by the Government.

N&P urging holidaymakers to go for Gold

Some Brits are heading abroad during Olympics

Brits planning to escape the Olympics and football and head for the sun should make sure their foreign spending money goes as far as possible, according to N&P.

Discount deals boost UK retail sales in May

Bargain offers, the Queen's Diamond Jubilee and department store sales attracted consumers back to the high streets last month, official figures show.

Grocers enjoy Diamond Jubilee sales boost

Supermarkets and food stores emerged victorious from the Queen’s Diamond Jubilee, raking in an extra £213 million in the week leading up to the big event.

Average family faces £1,800 unexpected expenses a year

Brits hit with £1,800 of unplanned expenses

The average UK household has had to fork out £1,800 in unexpected payments in the past year, from car repairs to replacing the washing machine, research shows.

Brits £34 a month worse off as spending power keeps on falling

Spending power is weakening, report shows

Britain’s households are now £34 worse off than a year ago, hammered by a combination of high inflation and weak income growth, research reveals.

Inflation, unemployment and retail sales dominate economic week ahead

Inflation, unemployment and retail sales data dominate the UK economic landscape in the next week

A week of vital announcements for the UK economy is dominated by the latest inflation, unemployment and retail sales figures for May.

IFS: 2010-11 saw biggest fall in median incomes for 30 years

The IFS reports that in 2010-11 median incomes fell by 3.1 per cent

A new report by the Institute for Fiscal Studies for 2010-11 says that a combination of factors led to the biggest drop in median incomes in the UK since 1981.

UK petrol prices fall by 8p a litre in just two months

Falls in petrol prices have been outpaced in the drop in oil costs

UK motorists have benefited from a six per cent drop in the cost of petrol since April, but during the same time wholesale oil prices fell by 18 per cent.

Audit Office concludes Voda and GS tax deals were "reasonable"

The NAO has concluded that HMRC's dealings in negotiating tax settlements with five big businesses were "reasonable"

The National Audit Office has concluded that five tax deals cut by HMRC with large firms were "reasonable" although they have some concerns over the processes followed.

Plusnet charges £16 for a year’s broadband and phone bundle

Plusnet offering five months half price and cashback

Budget broadband provider Plusnet has slashed the cost of its internet and home phone bundle, offering five months half price plus £50 cashback.

Tesco trading update set to underline declining UK performance

Sainsbury's issues a trading update this week

Two of the UK's biggest supermarkets issue trading updates next week and Sainsbury's is expected to announce solid growth whilst Tesco's UK operations are expected to slide again.

Passengers ‘confused and frustrated’ by train tickets

Many train passengers in the UK find selecting and buying tickets a confusing and frustrating process, according to a rail watchdog’s survey.

UK at higher poverty risk than EU average

Britain's poverty risk rate tops EU average

Some 17.1 per cent of the UK population were defined as being at risk of poverty in 2010, according to official analysis published today.

May sunshine lifts retail sales, says BRC

Surge in women's clothing sales during May

Shoppers filled the high streets at the end of May as sunny weather pushed up sales of food and drink, summer clothing and garden equipment, latest figures show.

Shop price inflation increases as discounts dwindle

Shop price inflation went up in May as retailers reined in their bargain offers, according to latest figures from the British Retail Consortium.

Manufacturing sector in UK shrinks at fastest pace since 2009

There was a sharp slump in manufacturing activity in May

Activity in the manufacturing sector in the UK slipped in May with the PMI index down to 45.9 from 50.2, the sharpest fall for three years.

Martin Lewis sells MoneySavingExpert.com for £87 million

Martin Lewis has sold his personal finance website MoneySavingExpert.com for £87 million

Martin Lewis has sold his popular personal finance website and forum for £87 million to Moneysupermarket.com and will gove £10 million of the proceeds to charity.

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