We take a look at some of the recent activity and events taking place in the UK and globally. For a more in-depth insight into how things may impact on your own financial planning priorities, please do get in touch. Enjoy a financial conversation as part of your regular financial planning review at SewellBrydenGunn.
Tesco like for like sales up 1.8%pc in the 6 weeks to January 5th and online sales up 18%pc….
John Lewis like for like sales up 13%pc…
Jessops has gone into administration – six years after its IPO….
Marks and Spencer like for like sales a stark comparison with Tesco and John Lewis…..
US Ireland Finland and Netherlands among countries showing concern over possibility of a British exit from EU…..
Bank of England maintains MPC Repo Rate at 0.5%pc…..
ECB Interest Rate unanimous decision: at the meeting 10 January 2013 the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.75%pc, 1.50%pc and 0.00%pc respectively…..
Draghi says European economy should recover gradually during later 2013 – this view is seen as optimistic by some but is broadly welcomed…..
The BBC has reported that up to 50%pc of all food grown is either wasted by stores and customers or lost at the field stage – a report by the Institute of Mechanical Engineers who looked into waste also reports that 550 bn litres of water is used to grow wasted food. 30%pc of UK food wastage is due to appearance criteria. Retail store business models, storage and distribution, sellby dates and consumer fussiness are among the reasons for such a high level of waste. As the world population increases it is felt that adopting better food stewardship and management practices will make a substantial contribution towards the successful provision of food against world demand in the future. Global charities such as Oxfam are clearly concerned to see a much fairer distribution of food resources together with increased assistance for the poorer farming and food producing communities to help minimise waste due to “loss before market” as well as a reduction of aggressive marketing campaigns such as “buy one get one free” which are seen as promoting wasteful consumer habits at a time when severe adverse weather conditions have blighted so many crop and feed harvests over the last year, affecting all areas of food production.
Bank of England refrains from further stimulus as existing programme shows signs of success…..
Euro improves following ECB “no change” anouncement although European stocks show little change…..
UK Inflation Bonds up as GBP weakens against the Euro and UK RPI inflation measure is maintained ahead of the introduction in March 2013 of the new Consumer Prices Index (which now includes Owner Occupier Housing Costs) to be known as CPIH…..