Inflation fell to its lowest level in almost two years in December as lower oil prices cut the cost of petrol and air fares. The Consumer Prices Index fell to 2.1% in December, down from 2.3% the previous month, according to the Office for National Statistics. The decline, which was in line with economists' expectations, meant that inflation was now within touching distance of the Bank of England's 2% target. The price of petrol fell by 6.4p a litre to 121.7p in December - the lowest price since April 2018, while diesel declined by 4.6p to 131.9p per litre, its lowest since July. Inflation was buoyed by rising costs in other categories including food, toys, accommodation and mobile phone charges.... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week Register … [Read more...] about Cheaper oil sends inflation lower in December
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Vietnamese Government welcomes Microsoft investment: Deputy PM
Deputy Prime Minister Vu Duc Dam hosts a reception for President of Microsoft Asia and Corporate Vice President of Microsoft Corporation Ralph Haupter on January 16. (Photo: baochinhphu.vn) Hanoi (VNA) – The Vietnamese Government has always encouraged and given support to foreign enterprises, including Microsoft, to expand their investment in the Southeast Asian country, Deputy Prime Minister Vu Duc Dam has said. Hosting a reception for President of Microsoft Asia and Corporate Vice President of Microsoft Corporation Ralph Haupter in Hanoi on January 16, Deputy PM Dam spoke highly of Microsoft’s strategies and commitments in the Vietnamese market, as well as its cooperative programmes with competent ministries and branches in the country. He expressed his hope that the US technology company will outline more policies that fit the Vietnamese market, which he encourages to use copyrighted software, and help Vietnamese organisations improve their capacity in ensuring … [Read more...] about Vietnamese Government welcomes Microsoft investment: Deputy PM
Eurotunnel firm seeks border answers
The company running the Eurotunnel on Wednesday said it needs some decisions fast to ensure a disorderly Brexit won’t derail transport of goods and people. It asked political leaders for clarity on the border relationship between the EU and the UK “as soon as possible”. A spokesman for Eurotunnel added that although it had several contingency plans in place, such as adding more booths for border officers and parking, it has to decide which ones to launch. Getlink, the cross-channel rail operator’s parent company, said: “Eurotunnel is working to ensure new post-Brexit border controls will have no significant impact on tunnel traffic. We have adapted our infrastructure so that, with or without a deal, traffic flow through the tunnel will be maintained.” Around 26% of trade between Britain and the Continent passes through the tunnel. Getlink’s boss Jacques Gounon last week warned the UK government that it was being … [Read more...] about Eurotunnel firm seeks border answers
Jim Armitage: Bosses may have won ear of May but she’s not in charge
If it weren’t so serious, you’d have to laugh. Since Theresa May’s elevation to Downing Street, business lobby groups have assiduously courted her. They have been successful; the settlement she struck with Brussels ticked most of their boxes. Yet such is the chaos in Parliament that winning over the Prime Minister isn’t enough. Now business faces just what it didn’t want — yet more uncertainty and the continued possibility of a chaotic, costly no-deal exit. We’ve come to a pretty pass when government is so dysfunctional that getting the ear of the PM isn’t enough. Meanwhile, overseas investors look at us in total bafflement: if the Prime Minister doesn’t run the country, who does? We couldn’t do more damage to our economy if we tried. Kapoor overtaken by Mead takeover Rakesh Kapoor had come to the end of the road. Having bet big on Reckitt’s ill-fitting takeover of Mead Johnson baby milk in 2017, he found himself … [Read more...] about Jim Armitage: Bosses may have won ear of May but she’s not in charge
Sears Chairman Eddie Lampert Prevails in Bankruptcy Auction: Reports
Sears' chairman and CEO won the bankruptcy auction for the iconic department store chain with a bid of over $5 billion, which will keep the company afloat, according to media reports. Sources told Reuters that Eddie Lampert prevailed with a $5.2 billion offer through his ESL hedge fund in the auction that began Monday. A source told Bloomberg that Lampert won as well. The agreement came in the early hours Wednesday and must still be approved by a bankruptcy judge, both outlets reported. Lampert has been chairman, CEO, lender and largest shareholder of Sears— all at the same time. His last-ditch proposal, after an earlier bid was rejected by the company's board, would preserve 425 stores and 50,000 jobs. The Life of Dr. Martin Luther King, Jr. AFP/Getty Images NBC has yet to confirm that Lampert won the auction. One source told Reuters that a group of Sears creditors was objecting to the deal. Sears filed for Chapter 11 protection in October, when it had just under 700 … [Read more...] about Sears Chairman Eddie Lampert Prevails in Bankruptcy Auction: Reports