Global trade tensions and cyber attacks threaten UK economy, warns Bank of England; Black Friday spending ‘up 11%’ – business live
BoE says global risks remain high, and the outlook has become more uncertain and riskier
- Amazon workers in 20 countries to protest or strike on Black Friday
- The best Black Friday deals on the products we love: air fryers, heated throws and Shakira’s hair waver
Today isn’t all about shopping, as retail analyst Nick Bubb reminds us:
Spare a thought for all the hard-working delivery drivers today, coping with all the ‘Black Friday’ orders, although today is also Buy Nothing Day (a day of protest against consumerism that began in Canada in the 1990’s)...
‘’We’re deep in the golden quarter for retail with Christmas sales crucial for so many stores and Black Friday spending is expected to surpass last year’s levels on both sides of the pond. However, this mega promotional event is a mixed blessing for retailers. It provokes such shopping mania in the quest for a good deal that around three quarters of people will actually put off spending in the run up to the event. During the promotional period it also means selling at a discount, with means a smaller profit margin at a time when they are being squeezed by rising staff costs. It also puts pressure on their distribution chains, which can cause problems for their reputation in they run into difficulties.
However, given that this year it’s so close to pay day, it looks likely that consumer spend in the UK will surpass last year’s totals. Consumer confidence may still be in negative territory with worries reverberating about the economy, but optimism about personal finances has increased this month, which may also translate into higher sales
Continue reading...-
US economy ‘motoring along’ with 2.8% expansion in last quarter, but Trump’s trade tariffs ‘threaten economic growth’ – business live
Rolling coverage of the latest economic and financial news. Trump’s tariff threat sets stage for bitter global trade war . Trump’s tariffs will lead to higher prices in the shops, and ...World - The Guardian - Yesterday -
UK ‘exposed’ in event of global trade war, warns business secretary
PM Keir Starmer says Britain could maintain ties with both US and EU in potential transatlantic tariff disputeWorld - Financial Times - November 18 -
Shadow chancellor warns Reeves over EU ties after Bank chief says Brexit harming economy – UK politics live
Mel Stride said there must be no suggestion of the UK going back into the EU single market or customs union. In news that will disappoint those of you who enjoy a Liberal Democrat stunt, PA has ...World - The Guardian - November 15 -
European Central Banks warns of trade tension risks to euro zone financial stability
The Financial Stability Review also said weak growth was now a bigger threat to the 20-nation euro zone than high inflation.Business - CNBC - November 20 -
Amazon workers plan strike from Black Friday to Cyber Monday
Amazon workers and some allies are planning a worldwide strike during one of the company’s biggest weekends, from Black Friday to Cyber Monday. The strike, called “Make Amazon Pay,” is organized by ...Politics - The Hill - 10 hours ago
More from The Guardian
-
Russia-Ukraine war live: Moscow behind ‘staggeringly reckless’ sabotage in Europe, MI6 chief says
World - The Guardian - 18 minutes ago -
Israeli military to remain in Gaza for years, food minister says
World - The Guardian - 4 hours ago -
Women arrested by Taliban for begging report rape and killings in Afghan jails
World - The Guardian - 5 hours ago -
World gets first look inside rebuilt Notre Dame Cathedral
World - The Guardian - 24 minutes ago -
Iran and Europe seek to break nuclear impasse before return of Trump
World - The Guardian - 26 minutes ago