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Archive for January, 2018

Pound hits highest level since Brexit vote

January 12, 2018

The surge to almost $1.37 came after Bloomberg reported that the Spanish and Dutch finance ministers had agreed to seek a Brexit deal that kept the UK as close to the EU as possible. The pound rose more than 1% to $1.3691, its highest level since 24 June 2016. The currency had been trading at about $1.50 […]

The areas where house prices rose fastest in 2017

January 11, 2018

Homeowners in the East Midlands and Wales saw the value of their properties rise faster than anywhere else in the UK last year, according to the UK’s largest mortgage lender. Both areas saw prices rise by 8% during 2017, the Halifax said. Strong price gains were also seen in the West Midlands, where prices went […]

M&S food sales slide over Christmas

Marks and Spencer sales fell over the key Christmas period, while Tesco reported record festive trade. M&S said like-for-like revenues fell 1.4% in the 13 weeks to 30 December. Clothing and homeware fell 2.8%, while food, seen as its most successful sector, was down 0.4%. By contrast, Tesco’s UK sales rose 2.3% in the 19 […]

Plastic bag charge: 5p levy could be extended in England

January 10, 2018

The 5p charge for plastic bags in large shops in England could be extended to cover nearly all retailers, as part of government plans for the environment. Environment Secretary Michael Gove told a meeting of the cabinet that he wanted to tackle our “throwaway culture”. Shops with fewer than 250 employees are currently exempt from […]

Brexit: Financial services pivotal to ‘bespoke’ deal

Financial services are pivotal to the “bespoke” Brexit trade deal wanted by the UK, two senior ministers are to tell German business leaders. Chancellor Philip Hammond and Brexit Secretary David Davis will call for the “most ambitious” economic partnership in the world during a trip to Berlin. They will stress the importance of supporting financial […]

UK boating industry buoyed by weak pound

The UK’s boat and yacht industry has seen revenues surge to their highest level since the financial crisis after the weaker pound helped drive up sales. Sales rose by 3.4% to £3.1bn in the year to April 2017, according to a report by lobby group British Marine. It said that the depreciation of the pound […]

UK manufacturing output at its highest for 10 years

UK manufacturing output has reached its highest level since February 2008 after recording its seventh consecutive month of growth in November. Renewable energy projects, boats, aeroplanes and cars for export helped make output 3.9% higher in the three months to November than in 2016. Official figures also show industrial output rose by 0.4% in November. Construction […]

Sainsbury’s boss says food price rise should ease this year

Shoppers should see the pace at which food prices are rising start to come down in the next six to nine months, the boss of Sainsbury’s has predicted. Mike Coupe said supermarkets were “over the hump” of inflation driven by the fall in the value of the pound. He made the prediction as Sainsbury’s reported […]

Lidl reveals record-breaking December

Lidl supermarket said it had record UK sales in December, with a rise of 16% on the same period in 2016. Customers bought about 600 tonnes of Brussels sprouts, 17 million mince pies and more than 800,000 litres of champagne and prosecco. The chain opened nine stores during the holiday period, bringing the total outlets […]

Vauxhall plans another 250 job cuts at Ellesmere Port

January 8, 2018

Vauxhall is cutting another 250 jobs at its Ellesmere Port car plant on top of the 400 jobs it announced in October. The carmaker, now owned by France’s PSA Group – maker of Peugeot and Citroen – said it needed to “accelerate the recovery of plant productivity”. The Ellesmere Port plant in Cheshire, which makes […]

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