UK retail sales lower than expected due to bad weather
UK retail sales in April were 1.3% lower than in March as bad weather continued to impact consumer spending. Figures released by the Office for National Statistics (ONS) found that sales had reduced from the previous month, but...
Mobile subscriptions to outnumber people by 2014
Figures released by The International Telecoms Union show that the number of mobile phone subscriptions will outnumber people in 2014. The figures are part of a UN agency report, which also found that more than a third of the...
Man Utd shares fall after Sir Alex announces retirement
Manchester United shares fell in New York after Sir Alex Ferguson announced his retirement from the football club. The news of his retirement was announced when US trading markets were closed, but as trading began the club’s...
Business confidence in UK is ‘improving’
Confidence among UK business is continuing to improve, according to a recent survey. The Business Confidence Monitor is conducted quarterly and is released by a professional body for accountants, said that confidence is at its...
British publishers report record sales
British publishers have reported record sales for 2012. Total spending on printed and digital books rose by 4% to £3.3bn according to the Publishers Association. Digital spending rose by a massive 66% to £411m. The rise in...
Lloyds Banking Group sees big profit increase
Lloyds Banking Group has reported a large profit increase for the first quarter of the year. The bank reported a pre-tax profit of £2.04bn in the first quarter, which is up from £280m for the same period last year. The latest...
US economy grows by 2.5%
The US economy has grown by an annual rate of 2.5% in the first three months of this year. Whilst this figure was lower than analysts’ predictions, it’s a massive increase on the 0.4% rate recorded in the last quarter of 2012....
Spain’s unemployment rate hits record high
Spain’s unemployment rate has hit a new record of 27.2%. Official figures show that number of unemployed people in Spain has passed the 6 million mark, although the rate of the increase has slowed. The figures show how Spain is...
UK economy avoids triple-dip recession
The UK economy has grown 0.3% in the first three months of this year, meaning the UK has avoided a triple dip recession. An economy must not contract for two consecutive quarters, or it is classed as entering recession. The...
Minimum wage to rise by 12p from October
On Monday the government announced the minimum wage would increase by 12p an hour to £6.31 for adults. It will also rise by 5p to £5.03 for 18 to 20 year olds. Business secretary Vince Cable said the government announced the...