#UK: Britain's #tradedeficit shrinks as fall in #oilprices cuts #importcosts

Dramatic fall in oil prices contributes to improved trade balance but higher pound and fall in exports to eurozone limit gains

The narrowing of the deficit reflected a £2.5bn drop in imports, almost half of which was due to lower imports of oil. Photograph: Christian Charisius/Reuters

Britain’s trade balance improved in January after a dramatic fall in oil prices cut the cost of imports.
But the higher pound and a fall in exports to the eurozone limited the gains from cheaper energy supplies brought into the UK... (Read more)

EXTERNAL EXPANSION LTD., www.externalexpansion.net

#UK economy grew 0.6% in the fourth quarter of last year

Official figures also show that GDP per head in 2014 rose by 2.2 per cent.

British chancellor of the exchequer George Osborne holds up the red despatch box containing his pre-election budgetas he departs number 11 Downing Street, Westminster. Photograph: Andy Rain/EPA

The UK economy grew by 0.6 per cent in the fourth quarter, revised up from a previous estimate of 0.5 per cent, official figures showed today.

The figures also showed that GDP per head in 2014 rose by 2.2 per cent. It is seen as a key measure because it indicates that the size of the economy per person is growing even as the population expands... (Read more)

EXTERNAL EXPANSION LTD., www.externalexpansion.net

#Europe: If the #UK quits the #EU, what happens to #Ireland?

As the UK general election looms, a subsequent UK exit from the EU is a real possibility. This extract from a new book analyses the consequences for the Republic.

As the UK general election looms, and with a subsequent referendum on Europe highly likely, a UK exit from the EU becomes a real possibility. A new book, Britain and Europe: The Endgame – An Irish Perspective, examines possible future relationships between the United Kingdom and the European Union and their implications for Ireland... (Read more)

EXTERNAL EXPANSION LTD., www.externalexpansion.net

#Ireland - New #Innovators: Powerful Yogurt

Irepak prepares to launch high-protein, fat-free product next month

Irepak’s Robert Doyle says Powerful Yogurt, a high-protein, fat-free product, will go on sale from mid-November.

Food products with added protein is a growing market within the international food industry. Now Kildare-based start-up, Irepak, is about to enter the segment with the launch of a new, high-protein yogurt... (Read more)

External Expansion, www.externalexpansion.net,

#UK: Osborne's #patentboxtax break policy likely to divide #G20

Chancellor's policy to attract R&D to Britain seen as 'anti-European' by Germany, and poorly targeted by other nations

Osborne's patent box tax breaks offer incentives for companies to locate research in Britain. Photograph: David Burton/Alamy

George Osborne's determination to retain controversial tax incentives offered to businesses with lucrative patents is expected to leave Britain out on a limb when G20 finance ministers meet in Australia at the weekend... (Read more)

External Expansion, www.externalexpansion.net,

#UK: Voters want resurgence of #UKindustry at heart of parties' election campaigns. #manufacturing

85% want government to promote stronger manufacturing base, finds poll, with 62% believing it will give more economic security

Despite George Osborne's calls for a 'march of the makers', the UK manufacturing sector remains below its pre-crisis strength. Photograph: Christopher Furlong/Getty Images

A overwhelming majority of voters want a resurgence of British industry to be at the centre of parties' election campaigns, according to a poll... (Read more)

External Expansion, www.externalexpansion.net,

#UK to sign nearly $4 billion in #tradedeals with #China

Transactions include a $1 billion joint venture with China related to a Malaysian oil terminal,

Britain’s chancellor of the Exchequer George Osborne greets China’s vice premier Ma Kai outside 11 Downing Street in London. Photograph: Suzanne Plunkett/Reuters

(Read more)

External Expansion, www.externalexpansion.net,

#UK: The UK’s exit from the EU is in the hands of #Scottishvoters

If Scotland opts for independence, the UK’s divorce from Europe would swiftly follow

'Britain’s EU membership will be one of the major issues at stake in next year’s general election.' Photograph: Alain Jocard/AFP/Getty Images

The referendum on Scottish independence, due on 18 September, comes at a time of growing opposition in the UK to remaining in the EU. This is significant because Scotland is the strongest base of pro-European sentiment in the UK... (Read more)

External Expansion, www.externalexpansion.net,

#UK: Olive oil prices set to rise sharply after Andalusia drought

Anticipation of poor harvest has already pushed up wholesale price from €2.40 to €2.70 per kg over past few weeks... (Read more)

External Expansion, www.externalexpansion.net,

#UK #carindustry exporting at record rate

Almost eight out of 10 vehicles made in Britain are now destined overseas, with 5m cars exported since 2010, says industry body.

Staff at Jaguar Land Rover's Solihull plant celebrate the 500,000th Range Rover Sport to come off the production line. Photograph: John Robertson for the Guardian

Britain is exporting cars at a record rate amid strong international demand for luxury brands... (Read more)

External Expansion, www.externalexpansion.net,

Russian sanctions start to bite as growth forecasts are downgraded

Lending restrictions are not causing immediate panic but, with food shortages and price rises, the winter outlook is grim.

Six months after the confrontation over Ukraine first blew up, the damage is starting to be counted in dollars, euros and roubles. And as Russian foreign minister Sergei Lavrov met his counterparts from Ukraine, Germany and France, he will have been aware that it is Russia that has most to lose from a protracted economic stand-off with the west....

(Read more)

External Expansion, www.externalexpansion.net,

UK: B&Q owner suffers sales decline across Europe

Kingfisher's worst performance was in France, where sales fell 2.2% in the 10 weeks to 12 July.

Kingfisher, the DIY group and owner of B&Q, has said sales were hit in the second quarter by a housebuilding slowdown in France and a general lull following stronger trading earlier in the year...

(Read more)

Surge in imports widens UK trade deficit

Shortfall between exports and imports was the largest since January after imports rose at their fastest pace for almost a year. 

Phillip Inman, economics corresponden.The Guardian, Thursday 10 July 2014 13.46 BST

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UK clothes prices continue to fall

Fierce competition among the major grocers also kept a lid on food inflation, according to the British Retail Consortium 
Phillip Inman, economics correspondent. The Guardian, Wednesday 9 July 2014. 
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Surprise drop in UK manufacturing output unlikely to derail recovery, says NIESR

National Institute of Economic and Social Research (NIESR) said the unexpected drop in production would weigh "only marginally" on the wider economy
Angela Monaghan and Phillip Inman. The Guardian, Tuesday 8 July 2014 19.25 BST  (Click here to complete new)

UK: Osborne praises India's Modi as he kicks off trade mission

Chancellor, hoping to attract millions from Indian firms, says new PM has created 'real excitement' over hopes for reform.

Rowena Mason, political correspondent. theguardian.com, Monday 7 July 2014 11.38 BST .

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Reino Unido: aumentan las importaciones de alimentos

MONEDAUNICA.NET Martes, 01 de Julio de 2014 00:00 | Escrito por Felipe Contamina
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Trading the yuan

THE ECONOMIST Jun 21st 2014 | HONG KONG | (Click here to original new)

Buzz about the rise of China’s currency has run far ahead of sedate reality

IF HEADLINES translated into trading volumes, the yuan would be well on its way to dominating the world’s currency markets. It once again graced front pages this week after moves to lift its status in London, the world’s biggest foreign-exchange market. This was the latest instalment of a five-year-long public-relations campaign. Since 2009, when China first declared its intention to promote the yuan internationally, a string of announcements and milestones has cast the Chinese currency as a putative rival to the dollar.

The hype rests on several seemingly impressive numbers. Yuan deposits beyond China’s borders have increased tenfold in the past five years. The “dim sum” bond market for yuan-denominated debt issued outside China has gone from non-existence to a dozen issuances a month. And the yuan is the second-most-used currency in the world for trade finance.

Economic growth at 0.8%

THE GUARDIAN Katie Allien, Friday 27 june 2014. (Click here to original new)
Annual GDP growth revised down slightly to 3.0% from 3.1% but still the strongest since 2007, according to latest figures.

Construction helped the economy to grow. Photograph: Joe Giddens/PA Archive/Press Association Ima

The fastest growth in business investment for two years helped support Britain's overall economic growth in the first quarter, boosting hopes the recovery is become more sustainable.

GDP grew by 0.8% in the first three months of the year, the Office for National Statistics said in its final revision, unchanged from its previous growth estimate. Annual GDP growth was revised down slightly to 3.0% from 3.1% but was still the strongest since 2007.

Lidl launches £220m UK store expansion programme

THE GUARDIAN Sarah Butler, Friday 27 June 2014 17.00 BST (Click here to original new)

 

George Osborne, right hailed Lidl's store opening plans, duriing a visit to the supermarket chain's store in Chessington, Surrey with UK managing director Ronny Gottschlich. Photograph: Rex

The threat to the big four supermarkets from discount chains stepped up a notch on Fridayas Germany's Lidl unveiled plans for a £220m expansion in the UK.

The company will open 20 more stores by the end of this year, taking its total to 620. It said the move would create a total of 2,500 jobs in the stores, at its headquarters in Wimbledon, south London, and at a distribution centre in Northfleet in the Thames estuary.