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UK inflation falls to lowest in a year

UK inflation falls to lowest in a year

Business
UK consumer price inflation fell in March to 2.5%, the lowest rate in a year, according to the Office for National Statistics.It fell from 2.7% in February after prices for women's clothing rose at a slower pace than last year.The data appears to show that the squeeze on UK households may be coming to an end as wages rise.Despite the inflation fall, economists still expect the Bank of England to raise interest rates in May. According to the most recent figures, UK wages rose by 2.8% in February. The Bank is forecast to lift the interest rate to 0.75% from 0.5% next month.Laith Khalaf, senior analyst at Hargreaves Lansdown, said that while he expected the Bank to proceed with the increase, he believes the Monetary Policy Committee will move slowly.He said: "Wage growth remains surprisingly...
Inflation slides to lowest level for a year

Inflation slides to lowest level for a year

Business
The UK's cost of living has unexpectedly fallen to its lowest level in a year amid a slower rise in the price of women's clothing. The Office for National Statistics (ONS) said consumer prices declined to 2.5% in March from 2.7% in February.Most economists had expected inflation to remain unchanged."Inflation fell to its lowest rate in a year, with women's clothing prices rising slower than usual for this time of year," Mike Hardie, head of inflation at the ONS, said."Alcohol and tobacco also helped ease inflation pressures, with tobacco duty rises linked to the Budget not appearing this March, thanks to its new autumn billing."Growth in the price of goods leaving factories continued to slow, due mainly to a smaller increase in the price of food products compared with this time last year."...
Lockheed Martin to upgrade special operations C-130 aircraft

Lockheed Martin to upgrade special operations C-130 aircraft

Business
April 17 (UPI) -- Lockheed Martin was awarded a contract for upgrades on special operations C-130 fixed wing aircraft, along with engineering and support services.The deal, announced Monday by the Department of Defense, is potentially valued at $ 18 million under the terms of a indefinite-delivery, indefinite-quantity with firm-fixed-price and cost-plus-fixed-fee agreements on varies line items.Known officially as the MC-130H Combat Talon II, the contract enables Lockheed Martin to provide "operational flight program upgrades" on the aircraft, in addition to, "systems engineering and integration support activities encompassing multiple third-party systems sources," according to a Defense Department contract announcement.Work on the contract will occur in Marietta, Ga., and is expected to b...
Wages overtake inflation to end squeeze

Wages overtake inflation to end squeeze

Business
Wage growth rose to 2.8% in the three months to February, outstripping inflation for the first time in a year, official figures show.The figures from the Office for National Statistics (ONS) signal an end to the squeeze on household incomes after the slump in the pound following the Brexit vote drove the cost of living higher.Inflation had topped 3% in recent months but more recently has eased, dipping to 2.7% in February.The return to real terms wage growth will revive hopes for the struggling high street, where retailers have been struggling thanks to the strain in consumers' finances.It should also keep up expectations that the Bank of England will raise interest rates to 0.75% next month.There was a further boost from the official labour market statistics as the unemployment rate fell ...
What next for adland's Napoleon as he quits WPP?

What next for adland's Napoleon as he quits WPP?

Business
Contacts and business associates of Sir Martin Sorrell have, it is said, in the past played a game when they are gathered together.The aim is to email him simultaneously and then see how quickly he responds and to whom he replies first.Invariably, they all get a reply, almost at once.The tale, repeated around the wine bars of Soho, Mayfair and the City too many times to merely be apocryphal, speaks volumes about the advertising mogul: that he is almost never incommunicado, that he replies to emails at lightning speed and that he is a consummate networker.In advertising, marketing and public relations, all activities spanned by WPP, there is no more important role than to love your client and hug them close to you at all times.Sir Martin's prowess at this, as demonstrated by the tale, has b...