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News Round-Up. (18.06.2008)
Posted: Tuesday 17th Jun 2008
First up, the BBC reports that Chancellor Alistair Darling has admitted the obvious – the UK economy is faltering. Perhaps that’s why the Bank of England was considering raising interest rates this month?
The Telegraph leads with news that the chief exex of Woolworth’s has been shown the door as the company’s sales decline, and Sainsbury is also noting a drop-off in sales too.
While The Guardian says that the FTSE is on the skids too – though oil prices may be about to come down as well.
Next, The Times claims that the downturn is leading to a boom in cheapo hotels and pubs, but is also eating into Tesco’s non-food sales.
Over at The Independent, inflation is at its highest since 1992, while the obviously bullet-proof Goldman Sachs laughs all the way to the, err, bank.
And finally, The Daily Mail is saying that pay rises have been outstripped by inflation for the first time in ages, though striking tanker drivers don’t seem to mind: their newly-won salaries are well above that rate anyway.