News & Events | WDM - Part 210

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Tesco chief steps down after profit warning July 24, 2014

Philip Clarke has left his position as chief executive of Tesco, Britain’s biggest retailer, after warnings of a fall in profits in the first half of this year. Sales for the supermarket have been declining since 2011, which is also the year that Mr Clarke took over as chief executive, and a major profit warning
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Rates must rise soon, says Bank of England July 24, 2014

Governor of the Bank of England (BoE), Mark Carney, has warned that if rates remain at their current historic low it could contribute to a housing bubble and ‘other risks’. Speaking at a conference in Glasgow, ahead of the Commonwealth Games, Mr Carney made no definite plans but made it clear that interest rates must
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Wages fall as earnings peak delayed July 17, 2014

The Institute for Fiscal Studies (IFS) has released figures showing that average incomes fell by 10% between 2007/08 and 2012/13. Young adults in their 20s saw the biggest dip, with an average wage reduction of 13%, while the 31-59 age group was the least hard-hit with a comparatively low wage decrease of 7%. Jonathan Cribb,
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Fresh warnings of UK housing bubble July 17, 2014

Governor of the Bank of England (BoE), Mark Carney, has restated concerns that a continued increase in house prices will put the UK at risk of a housing bubble. Official figures show that house prices have increased by 10.5% in the year to May. This figure and high levels of mortgage debt were the major
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Energy price complaints reach all-time high July 17, 2014

Independent ombudsmen have reported a massive increase in the number of people making complaints about energy bills this year. In the first six months of 2014, the number of official complaints was greater than the whole of the previous year, reaching 22,671. Figures for 2013 showed the number of official complaints was 17,960 in total.
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