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Clinton Cards has become the latest high street retailer to go into administration following a spending slump, putting more than 8,000 jobs on the line. Its biggest supplier, American Greetings (AG), had earlier stated that it intended to push the British company into administration. This move took the chief executive of Clinton’s, Darcy Willson-Rymer, by [...]
(Read More)9th May 12
Wet April sees high street spending fall
by Harry Oldfield
Consumers stayed away from the high street in what was the wettest April ever recorded, as total spending fell at its most dramatic rate for 11 months, showed a new study. There was a 1.9 per cent fall in household spending, one of the biggest monthly declines seen since the financial crisis was at [...]
(Read More)8th May 12
Five tough years ahead for UK jobs market
by Harry Oldfield
Unemployment will continue to increase during the next five years across most of the UK except London, the South East and the East, revealed a new report. The Centre for Economics and Business Research (CEBR) think tank’s study said that the regions likely to be affected the most, like the North East and Scotland, will be [...]
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1st May 12
Heathrow to increase landing fees
by Harry Oldfield
Airport authorities are putting a plan in place to improve the passport chaos at Heathrow by introducing higher landing fees in order to afford more border staff. International Airlines Group’s chief executive Willie Walsh said that the carriers were prepared to pay increased fees as long as a competent service could be ensured. However, [...]
(Read More)27th Apr 12
M&S launches ‘shwopping’ initiative
by Harry Oldfield
Marks & Spencer is launching a scheme to prevent one in four clothing items in Britain ending up in the bin. The UK’s biggest clothing retailer wants customers to hand in an unwanted or old item of clothing whenever they purchase something new, to encourage a phenomenon which has been dubbed “shwopping”. M&S wants to [...]
(Read More)18th Apr 12
UK inflation up to 3.5%
by Harry Oldfield
A rise in the price of clothing and food compared with the same time last year pushed inflation up to 3.5 per cent in March, showed official figures. The increase was forecast by City analysts, who claimed it was likely to be just a blip in a long-term fall over the remainder of the year [...]
(Read More)13th Apr 12
John Lewis enjoys strong Easter
by Harry Oldfield
Continued high demand for the iPad3 contributed towards John Lewis delivering a bumper Easter, with department store sales increasing by 27.5 per cent last week. The retailer described the week of trading before Easter as “superb”. In addition, sales at Waitrose, its food division, increased by 26.2 per cent compared with the same seven days [...]
(Read More)9th Apr 12
Tesco advised to scrap banking and American operation
by Harry Oldfield
Shareholders have put extra pressure on Tesco to pull out of banking and scrap its US operation with renewed calls for the supermarket to focus on improving its struggling British retail business. At the beginning of a critical two weeks in which Phil Clarke, the chief executive, is to unveil his ideas for the group’s [...]
(Read More)30th Mar 12
Blackberry maker RIM may be sold after catastrophic results
by Harry Oldfield
Blackberry smartphone maker Research in Motion’s new chief executive indicated that he would consider selling the company after delivering another set of catastrophic sales figures that plunged it into the red. Over the last three months, including the festive period when rival Apple sold millions of iPads and iPhones, revenues were down by 25 per cent, [...]
(Read More)13th Mar 12
Obama says Afghan withdrawal will be responsible after killings
by Harry Oldfield
International forces will not rush their exit of Afghanistan because of a soldier who is suspected of murdering 16 civilians, US President Barack Obama has announced. The President added that although the Kandahar killings have strained relations further between foreign forces and Afghans, a responsible model of withdrawing the troops must be followed. The soldier, [...]
(Read More)