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Doctors in the UK have been informed that the antibiotic usually used to cure gonorrhoea is becoming less effective due to the fact that the sexually transmitted disease has become largely resistant to it. Warnings from the Health Protection Agency suggest we could be heading towards a situation where the disease becomes incurable unless new treatments [...]
(Read More)10th Oct 11
John Lewis blames heatwave for horror week
by Harry Oldfield
John Lewis suffered a huge collapse in trade during the last week of September, with sales falling in every store as shoppers stayed outdoors to enjoy the autumn heatwave. Like-for-like sales fell by almost 10 per cent, an outcome which Seymour Pierce’s Freddie George referred to as “horror week”. The analyst calculated that underlying sales [...]
(Read More)7th Oct 11
Greggs profits boosted by Jaffa Cake doughnut
by Harry Oldfield
The launch of the Jaffa Cake doughnut as well as the popularity of the bacon sandwich has ensured Graggs has managed to avoid the troubles afflicting many high street businesses. The Newcastle-based baker revealed that it sold over 1.4 million of the new “superstar” doughnuts during the five weeks since they were introduced, a move [...]
(Read More)6th Oct 11
UK GDP growth revised downwards
by Harry Oldfield
Double-dip recession concerns continue in the UK as more grim updates showed a stagnating economy and consumers lacking confidence. Economic growth over the opening two quarters of 2011 was weaker than previously thought, revealed the Office for National Statistics, while both airline Flybe and retailer Mothercare issued profit warnings. The ONS said that the UK [...]
(Read More)5th Oct 11
Mogadishu hit by deadly truck bomb
by Harry Oldfield
A suicide truck bomb exploded in front of a compound housing Somali government buildings in the capital Mogadishu, killing well over 60 people and wounding dozens of others in one of al-Shabaab insurgents’ most deadly attacks since they withdrew the majority of their insurgents from the city. The explosion tore through the K4 (Kilometre Four) [...]
(Read More)4th Oct 11
Surprise boost in manufacturing lifts recovery hopes
by Harry Oldfield
A surprise resurgence in the manufacturing sector has provided some much needed respite from the seemingly never ending bad news regarding the recovery. The purchasing managers index (PMI) revealed that there was growth in manufacturing for the first time since three months ago. The manufacturing PMI for September, compiled by the Chartered Institute of Purchasing [...]
(Read More)3rd Oct 11
Betfair hid data theft from customers
by Harry Oldfield
Online gambling company Betfair has admitted that it failed to inform its customers about the data from millions of credit cards being stolen in a cyber-attack 18 months ago. Over 3.1 million account names containing encrypted security questions, 2.9 million usernames, and almost 90,000 account usernames containing bank account information were stolen during an attack [...]
(Read More)30th Sep 11
Government to increase speed limit to 80mph
by Harry Oldfield
The government plans to increase the speed limit from 70mph to 80mph in what will be seen as a victory for Transport Secretary Philip Hammond. On Thursday, Hammond said that he intends to launch a consultation later in the year with the idea of introducing the new speed limit in 2013. The policy is just [...]
(Read More)29th Sep 11
Reebok forced to refund customers after failing watchdog test
by Harry Oldfield
Thousands of people who purchased Reebok “toning shoes” to tone and strengthen their bodies could be given a refund after the sports manufacturer agreed to pay $25m (£16m) in order to settle charges against false advertising. The settlement came after the Federal Trade Commission, a US consumer watchdog, ruled that Reebok’s claim its RunTone or [...]
(Read More)28th Sep 11
Retailers face struggle to pay rent as sales fall
by Harry Oldfield
Thousands of retailers may struggle to make their quarterly rent payments this week after figures revealed that sales fell again in September. According to the insolvency trade association R3, a fall in sales in September compounded a financial situation which was already delicate and could push a number of big retailers over the edge when [...]
(Read More)