Wednesday, October 25, 2017
Tuesday, August 22, 2017
UK Retail Sales Dip in July on Fashion Slump
British shops saw a dip in sales last month, with fashion retailers enduring their worst July for eight years, a survey showed on Friday, adding to evidence consumers are cutting back spending on discretionary items.
Britain's economy has slowed as the rise in inflation since last year's Brexit vote and modest pay growth have squeezed consumers' real earnings. The Bank of England cut its growth forecast on Thursday.
Accountancy and business advisory firm BDO said its monthly High Street Sales Tracker found overall like-for-like store sales fell 0.6 percent in July, having risen 1.3 percent in June.
It highlighted a 3.5 percent fall in fashion sales.
“While June’s sunshine demonstrated that the sun can whet consumer appetite for shopping, poor weather at the end of July combined with consumers starting to feel the pinch took its toll on fashion last month," said Sophie Michael, head of retail and wholesale at BDO.
"It is apparent that shoppers are diverting their attention to essentials and tightening their belts ... The results imply that the road ahead may be even more challenging than expected."
The BDO survey contradicts data last week from the Confederation of British Industry which showed retail sales growth hit a three-month high in July.
Recent reports from retailers themselves have been mixed.
This week clothing retailer Next (NXT.L) reported better-than-expected second quarter trading, while department store John Lewis [JLP.UL] said its first half sales rose 1.6 percent.
Britain's economy has slowed as the rise in inflation since last year's Brexit vote and modest pay growth have squeezed consumers' real earnings. The Bank of England cut its growth forecast on Thursday.
Accountancy and business advisory firm BDO said its monthly High Street Sales Tracker found overall like-for-like store sales fell 0.6 percent in July, having risen 1.3 percent in June.
It highlighted a 3.5 percent fall in fashion sales.
“While June’s sunshine demonstrated that the sun can whet consumer appetite for shopping, poor weather at the end of July combined with consumers starting to feel the pinch took its toll on fashion last month," said Sophie Michael, head of retail and wholesale at BDO.
"It is apparent that shoppers are diverting their attention to essentials and tightening their belts ... The results imply that the road ahead may be even more challenging than expected."
The BDO survey contradicts data last week from the Confederation of British Industry which showed retail sales growth hit a three-month high in July.
Recent reports from retailers themselves have been mixed.
This week clothing retailer Next (NXT.L) reported better-than-expected second quarter trading, while department store John Lewis [JLP.UL] said its first half sales rose 1.6 percent.
Wednesday, March 22, 2017
Best Things You Didn’t Know About Joyce Banda Of Malawi
Joyce Banda is one of the two African female presidents. Her presidency has been compared to that of former Nigerian president, Jonathan Goodluck. She was globally ranked at position 71 as the world’s most influential female leader, and position 1 in Africa by the Forbes magazine. If you can’t figure out who is being referred in the above statement, then you’re yet to learn much about African current history. Joyce Banda, the second female president in Africa and the first female president of Malawi, is one of the extremely few formidable female leaders whose influence is not only felt in Africa, but also with the rest of the world. Joyce Banda is one of the acclaimed African female leaders who have defied the African stereotypes by fighting their way to acquire the top posts in Africa. But behind this powerful female president, there are 12 things that most people don’t know. Let’s find out what they are:
1. She was Once a Victim of an Abusive Marriage: Her first marriage to Roy Kachale, with whom they have three children, was an abusive one as described by her. In fact, that’s what motivated her to get into politics. She’s now married to her second husband, Richard Banda with whom they have a stable marriage.
2. She Once Lived in Kenya: After getting married to Roy Kachale in 1975, she moved to Kenya to live with her first husband who at that time used to work in Nairobi. She divorced him in 1981 before going back to Malawi.
3. She’s the first female president and, at the same time, the first female vice president of Malawi. Before she became the first female president in Malawi, she was the first female vice president under president Mutharika — 2009 to 2012.
4. She was Fired From Vice Presidency: The former Malawian president fired her, but she continued to serve as the vice president as mandated by the constitution. She was even expelled from Democratic People’s Party (DPP), which is the ruling party. This was after she had refused to endorse Peter Muthariki ( president Muthariki’s brother) as the party’s presidential candidate in the next general election, 2014.
5. She Supports Gay Rights: President Joyce Banda is among the few African presidents who supports gay rights. Being the president of a country that was so much against homosexuality, Joyce Banda was quick to repel all laws against same-sex marriages immediately she got into power.
6. She Had a Sour Relationship with the Former President: President Muthariki’s relationship with his vice president Joyce Banda, was a tense one. According to President Banda, President Muthariki refused to keep his promise of supporting her for presidency in the 2014 general election but instead opted to support his brother. This is what brew the animosity between the two.
1. She was Once a Victim of an Abusive Marriage: Her first marriage to Roy Kachale, with whom they have three children, was an abusive one as described by her. In fact, that’s what motivated her to get into politics. She’s now married to her second husband, Richard Banda with whom they have a stable marriage.
2. She Once Lived in Kenya: After getting married to Roy Kachale in 1975, she moved to Kenya to live with her first husband who at that time used to work in Nairobi. She divorced him in 1981 before going back to Malawi.
3. She’s the first female president and, at the same time, the first female vice president of Malawi. Before she became the first female president in Malawi, she was the first female vice president under president Mutharika — 2009 to 2012.
4. She was Fired From Vice Presidency: The former Malawian president fired her, but she continued to serve as the vice president as mandated by the constitution. She was even expelled from Democratic People’s Party (DPP), which is the ruling party. This was after she had refused to endorse Peter Muthariki ( president Muthariki’s brother) as the party’s presidential candidate in the next general election, 2014.
5. She Supports Gay Rights: President Joyce Banda is among the few African presidents who supports gay rights. Being the president of a country that was so much against homosexuality, Joyce Banda was quick to repel all laws against same-sex marriages immediately she got into power.
6. She Had a Sour Relationship with the Former President: President Muthariki’s relationship with his vice president Joyce Banda, was a tense one. According to President Banda, President Muthariki refused to keep his promise of supporting her for presidency in the 2014 general election but instead opted to support his brother. This is what brew the animosity between the two.
