Consumer confidence edges up as triple-dip recession fears recede

Monthly GfK index jumps five points in May, but at -22 it shows consumers face long climb out of ‘pit of economic pessimism’Consumers are becoming less gloomy about the economy and the state of their own finances amid signs that the outlook for growth has started to improve.The monthly survey from the polling group GfK […]
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Labour must break with economic orthodoxy – Tories do not know best | Bryan Gould

‘Tough’ measures are not necessary for good government. Labour should make full employment a central goal of policyWhen Harold Wilson’s incoming Labour government prepared itself in 1964 to make good the damage done by “13 wasted years” of Tory government, its fate was sealed even as it took office. Fearful of fulfilling a Tory stereotype, […]
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OECD cuts UK economic growth forecasts for 2014

Thinktank says eurozone crisis to drag on growth next year, but urges chancellor to stick with spending cuts as Brussels loosens EU austerity throttleThe west’s leading economic thinktank yesterday backed George Osborne’s spending cuts as Brussels conceded that half a dozen debt-ridden EU countries should be given up to two extra years to reduce their […]
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Local shops set to bear brunt of online shopping growth

Wales is set to suffer largest number of store closures, with 29% of high street shops at risk, followed by north-west, with 28% of stores predicted to shutThe growth of online shopping could lead to the closure of one in five high street stores by 2018, according to a report.A study from the Centre for […]
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Bank of England MPC member warns UK faces years of weak growth | Larry Elliott

Director for markets Paul Fisher says economy’s transition to tougher post-crisis climate is not yet completeFears that Britain faces years more weak growth were raised by a leading Bank of England policymaker when he warned that adjustment to the tougher post-crisis climate was only two-thirds to three-quarters complete.Speaking in Cardiff on Friday, Paul Fisher said […]
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Ryanair profits and customers rise

Low-cost airline saw annual profits rise by 13% but warned that the recession across much of Europe will dampen growth this yearLow-cost airline Ryanair saw annual profits rise by 13% but warned that the recession across much of Europe will dampen growth this year.The Dublin-based company, which operates on more than 1,600 routes, carried 79.3 […]
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Dixons enjoys sales boost after collapse of rival companies

Owner of Currys and PC World says half its like-for-like sales growth in last quarter came from former Comet customersDixons has seen a significant boost in sales thanks to the collapse of its rivals Comet, Jessops and HMV.The retailer, owner of Currys and PC World, said half its 13% growth in like-for-like sales for the […]
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HSBC job cuts foretell banking’s future | Nils Pratley

A bank that employed 300,000 staff in 2011, and has 254,000 today, wants to have 240,000 by the end of 2016The future’s bright, the future’s job cuts. That wasn’t how HSBC put it, but you get the gist. A bank that employed 300,000 staff in 2011, and has 254,000 today, wants to have 240,000 by […]
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