The Bank of Englands Monetary Policy Committee has voted unanimously to keep interest rates at 0.75%. This comes against a backdrop of uncertainty regarding Brexit and a marked consumer spending slowdown. Given this, they have cut their Economic Growth forecast for the next quarter by 0.1%. A sliver of good news was that Lower oil prices were likely…
The National Audit Office has rebuked the flagrant spending at the Bank of England who spent £5m without following proper procedures (for that read any procedures). They spend much of this on IT issues and the NAO indicate that considerable savings could have been made. Further, they had 800 empty desks which they defended by stating half…
On-Line fashion retailer Asos has reported ‘significant deterioration’ in trading indicating that it is not just the High Street who is suffering from a slow down in consumer spending. Although sales grew by 15% this was below the expected number of around 25% and this sent the shaper price tumbling. The shares which traded well north of £75 early…
Facebook exposed private photos from up to 6.8 million users to apps that weren’t supposed to see them. These apps were authorised to see a limited set of users’ photos, but a bug allowed them to see pictures they weren’t granted access to. These included photos from people’s stories, photos from a users timeline, and…
Fashion and home furnishings retails has already closed 40 stores in the UK since 2015. Laura Ashley is owned by Malayan United Industries (MUI). Andrew Khoo Boo Yeow, MUI’s newly appointed executive chairman, said: “The direction I want to go is to have not so many stores, but maybe the ones we have could be larger….
Shares in US pharmaceutical giant Johnson & Johnson fell heavily following allegations last week regarding there being traces of asbestos in its talcum powder. The report by Reuters’ which has started the scandal indicates that the company was aware of trace amounts of asbestos potentially affecting its Talc products since at least 1971. To…
Craig Taylor
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