The UK economy unexpectedly failed to grow in July, after flatlining in June, Office for National Statistics (ONS) showed today. Analysts had forecast slight growth of 0.2% for the month of July.
The BBC quotes Ruth Gregory at Capital Economics: “The economy stagnated in July… but that doesn’t mean the UK is on the cusp of another recession”. The Daily Mail quotes Rob Morgan, chief investment analyst at Charles Stanley: “Particularly tight fiscal policy might encourage the Bank to reduce rates at faster clip, but overall a shallow trajectory of cuts towards the 4% level over the course of the next year still looks like the most likely scenario”.
The FT said the figures were “a blow to chancellor Rachel Reeves who has put growth at the heart of the government’s agenda”.
Just 65% of UK businesses have a plan to reduce their emissions to net zero by the 2050 deadline, the largest ever industry survey has revealed. The Guardian covers a survey of 2,005 organisations across all sizes and sectors which found only half were even measuring their carbon footprint. Specific barriers identified in the report included post-Brexit regulatory uncertainty.
The Guardian reports on the “death of the corkscrew” following a report by household goods retailer Lakeland which found only 27% of 18- to 24-year-olds own one of the devices while for the over-65s that figure stands at 81%.
The 155-year-old Campbell Soup Company plans to drop “soup” from its corporate name, rebranding as The Campbell’s Company, reports CNN.
No comments yet