No comment on Ukraine war other then to say I hope that peace reigns asap.
Back in the UK.... the recession is over says the DT
The Lockdown Files (telegraph.co.uk)
opps, sorry, wrong story -g- Note on Wuhan lab.... how many realize it was Fauci and co who ran up that Lab, as dodgy work no longer allowed in USA? That story has a lot of unwinding to do, and it ends up in the USA far as I know, with UK scientists involved too.
UK ‘no longer at risk of recession’ as economy grows ahead of Budget (telegraph.co.uk)
UK ‘no longer at risk of recession’ as economy grows ahead of Budget. A return to economic growth prompts improvements in analysts' forecasts
BySzu Ping Chan10 March 2023 • 2:42pm
The UK will avoid a recession this year, according to a string of City analysts who changed their gloomy predictions after the economy returned to growth in January.
As Jeremy Hunt prepares to deliver his maiden Budget next week, the Office for National Statistics (ONS) said the economy expanded 0.3pc in January after shrinking by 0.5pc in a December marred by strikes.
While output in January was also hit by walkouts, statisticians said the rebound was helped by children returning to classrooms following “unusually high absences” in the run-up to Christmas, as well as the Premier League returning to its normal schedule following December's World Cup in Qatar.
Darren Morgan, ONS director for economic statistics, said the end of postal strikes also helped to boost output, though the rise in activity was partly offset by a “notable” drop in construction, including infrastructure projects. January's rebound was driven entirely by Britain's dominant services sector, as manufacturing also suffered a decline.
However, closely-watched survey data for February suggest the recovery could be sustained, as services continue to outperform. Growth in January was above expectations for the UK to eke out an expansion of just 0.1pc, prompting several City analysts to ditch their forecasts for a prolonged period of decline.
(see site for chart)
UK economy returns to growth but remains below pre-pandemic level
Goldman Sachs said it no longer expects the UK to slide into a technical recession – defined as two straight quarters of falling output – at the start of 2023.
Economists at the US investment bank said survey data for February pointed to continued momentum, meaning it no longer believed the economy would shrink by 0.4pc in the first three months of the year, and would instead flatline.
The positive performance also prompted Deutsche Bank to remove its recession forecast, while analysts at Citi also said survey data suggested the UK was on course to expand rather than shrink at the start of 2023. “We see further upside risks ahead here as public sector strike action was wound down,” said Benjamin Nabarro, an economist at Citi. JP Morgan said as early as last month that the UK would dodge a recession.
The Bank of England's current forecasts show the UK economy is on course to keep shrinking for more than a year, although most economists believe any recession will be mild and short-lived.
The Chancellor said the economy had “proved more resilient than many expected”, which will reignite calls for more tax cuts in next week's Budget.
However, Mr Hunt warned that “there is a long way to go”.
Commenting on the GDP figures, Mr Hunt said: “Next week, I will set out the next stage of our plan to halve inflation, reduce debt and grow the economy – so we can improve living standards for everyone.”
Mr Hunt is expected to extend a £2,500 cap on energy bills for three months, which will help to shore up incomes and lower headline inflation alongside a fresh package of help for those on the lowest incomes. However, most economists expect the economy to remain smaller than its pre-pandemic size until at least 2024.
but some "flies in ointment" on smooth government pre budget spin update.
Britain's High Streets will be hit by more closures tomorrow as Argos, Boots and B&Q shut branches | Daily Mail Online
Britain's High Streets will be hit by a dozen more closures tomorrow as Argos, Boots and B&Q shut branches - so is your local store at risk? B&Q will shut eight of its mini branches seen inside Asda supermarketsBy DANYA BAZARAA FOR MAILONLINE
PUBLISHED: 14:11, 10 March 2023 | UPDATED: 16:43, 10 March 2023
Britain's High Streets are set to be hit by more closures from tomorrow as Argos, Boots and B&Q shut branches.
Argos in Coatbridge, Lanarkshire, Scotland, will shut its doors as part of Sainsbury's plans to get rid of 50 standalone branches by the end of this month, according to reports.
Boots will also get rid of two of its shops tomorrow: in Church Street, Malvern, near Worcester, and in Port Arcades Shopping Centre, Ellesmere, near Chester.
These closures will come on the same day B&Q says goodbye to eight of its mini branches seen inside Asda supermarkets, according to the Sun.
Instead, B&Q aims to launch small stores on the High Street.
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Our map shows where B&Q, Argos and Boots stores are closing across the country
From March 11, B&Q will close its concession in the following locations: Sheffield Drakehouse, Dagenham, Roehampton, Edmonton, Thurmaston, Great Bridge, Lancaster and Hartlepool.
A B&Q spokesman told MailOnline: 'To adapt to changing consumer demand for speed and convenience, B&Q has been testing smaller store formats on high streets, on retail parks and in concession formats within Asda stores.
'Thanks to our "test and learn" approach, we're continually gathering feedback from customers and colleagues, helping us evolve the shopping experience in these smaller stores.
'We have decided to focus on developing our blueprint for smaller high street formats. We recently launched our new brand of small format stores, B&Q Local, with a view to expanding into more locations and, as a result, we will be closing eight small concessions within Asda stores.
'All employees have been offered alternative employment at nearby stores.'
A spokesman for Boots told MailOnline: 'Boots has over 2,200 stores across the UK.
'We continually review locations to make sure they are where our customers need us most and it is never a decision we take lightly when looking to close a store.'
The statement continued: 'Two stores – Port Arcade store in Ellesmere and Church Street store in Malvern – will close tomorrow as part of previously announced store closures.
'In all cases there is an alternative Boots store less than three miles away.
'Affected team members have been offered opportunities in other stores in the local area.
'Boots stores nearby will continue to offer pharmacy services and customers can find their nearest store at Store Locator (boots.com).'
MailOnline has contacted Argos owner Sainsbury's for comment.
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The B&Q branch inside Sheffield Drakehouse's Asda supermarket is one of the branches to get the cut
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The Argos in Coatbridge is also shutting its doors in fresh blow to the local economy
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Boot's Church Street store in Malvern will also close tomorrow – one of two that are shutting
Marks and Spencer is another name closing stores across the country as it battles soaring costs in yet another blow to the ailing British High Street.
The department store announced last year it would be closing 67 larger stores as it looks to open more of its popular Foodhalls in a push to save £300million – including reducing a £100million energy bill.
M&S chief executive Stuart Machin said the retailer aims to have 180 'full-line' shops selling food, clothing and homeware products by early 2028 – down from 247.
The first of the stores to shut, in East Kilbride Shopping Centre, closed its doors on February 25, with other closures over the spring, some of which are still undergoing consultation.
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Seven 'lower productivity, full line stores' are having the shutters pulled down for good – but the closures are still undergoing consultation
Meanwhile, budget chain Poundland is opening 12 new stores in a fresh boom for Britain's struggling High Streets.
The retailer has confirmed the dates of four new openings – with the rest of the stores set to open at some point next month.
Among the new sites will be the chain's Scottish flagship store in Crown Street, Glasgow, which will become the country's largest branch at 18,380 square feet.
The openings come as part of a wider plan to by the discount retailer to open or relocate 50 new shops by the end of the year.
The branches will be across the High Street, shopping centres and retail parks.
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The budget retailer is set to open 12 shops across the UK over this and next month – here is where they will all be
Last month, Sainsbury's announced plans to close two Argos depots over the next three years in a move that will impact 1,400 jobs.
The supermarket giant confirmed it is aiming to shut its Argos warehouse in Basildon, Essex, and a depot in Heywood, Greater Manchester, by 2026.
Bosses said staff losing their jobs would have the 'opportunity to find alternative roles' elsewhere in the business.
The retailer is closing 50 larger Argos stores before the end of the financial year in favour of investing in more small branches inside Sainsbury's supermarkets. |
