Larkhall rise for sale

New home sales increased by less than expected across the U.S. last month, after a slump in April, according to data released today by the Census Bureau. Sales of new single-family houses in May were 10.7 percentage points above the revised total of 629,000 in April, when new home sales plunged 16.6 percent month-on-month to their lowest level since April 2020, as costs continued rising for both home builders and potential buyers. May's new home sales were still 5.9 percent below the May 2021 estimate of 740,000. Why Are New Home Sales Stalling? First-time buyers are being squeezed out of the market, as a combination of soaring mortgage rates, the limited inventory available, soaring inflation and record-high home prices—34 percent higher now than two years ago—is hitting them hard. Buying a house is simply not affordable for many people at the moment. Mortgage rates are at their highest levels since 2008, after the average 30-year rate rose from 3.1 percent to 6.28 … [Read more...] about Are we heading for a housing market crash? What home sales data reveals

A government-backed “Great British Rail sale” offering cheap train tickets will not help hard-pressed commuters, critics say. The Department for Transport (DfT) said the offer was “further supporting families with the cost of living” at a time of high inflation . Around a million tickets will be reduced , some to less than £3, but overall that amounts to just 1% of all rail journeys available. But it will only target intercity travel at off-peak times. The fares include a single journey from London to Edinburgh for £22, Manchester to Newcastle for £10.30, and Birmingham to Bristol Temple Meads for £12.60. The cut-price tickets will only be available for a five-week period before the next half-term holiday, from April 25 to May 27, and are not expected to be available over the first May bank holiday weekend. But the scheme has been criticised by Labour and trade unions, who say it doesn't do anything to help commuters. An advert for the Great British Rail … [Read more...] about Great Rail Sale branded a ‘headline grabbing gimmick’ that won’t help commuters

The FTSE 100 closed in the red after traders digested another 40-year-high for UK inflation levels. A consumer price index (CPI) inflation reading of 9.1% was in line with expectations for May, but rocketing producer prices showed inflationary woes are not likely to reverse any time soon. Nevertheless, London’s index of top stocks finished the day with a slight improvement on early trading after growing positivity on Wall Street. The FTSE 100 ended the day down 62.83 points, or 0.88%, at 7,089.22. Michael Hewson, chief market analyst at CMC Markets UK, said: “The fragile nature of this week’s rebound has been laid bare today, with a sharp slide in oil prices in Asia, spilling over into broader market weakness, with the Dax sliding below last week’s lows, before rebounding, while the FTSE has also slipped back sharply. Recommended Russia says EU sanctions that prompted transit ban ‘unacceptable’ “Today’s inflation numbers from the UK came across … [Read more...] about FTSE slides as trading knocked by rise in UK inflation

CHICAGO, June 24 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday as the U.S. dollar fell. The most active gold contract for August delivery rose 50 cents, or 0.03 percent, to close at 1,830.3 U.S. dollars per ounce. Gold posted a loss of 0.6 percent for the week. Economic data released on Friday are mixed. The University of Michigan (UM) consumer sentiment index fell to 50.0 in the June 2022 survey, down from 58.4 in May and below last June's 85.5, supporting gold. U.S. Commerce Department reported that U.S. new home sales jumped 10.7 percent to an annual rate of 696,000, seasonally adjusted, recovering most of the sharp retreat in April. Speaking Friday during a panel discussion on central banks and inflation hosted by UBS in Zurich, Switzerland, St. Louis Fed President James Bullard said rapid rise in interest rates now is the best way to avoid recession later. While a recession is "certainly possible, I actually think we'll … [Read more...] about Gold rises as U.S. dollar falls

Facebook Inc filed a motion on Monday asking a US court to dismiss the Federal Trade Commission ’s antitrust case against the company, which seeks to force it to sell Instagram and WhatsApp . The motion was filed on the same day the company’s platforms experienced a six-hour-long global outage that may cost the world economy nearly $1bn according to some estimates. In its argument, the social media giant said there was “no valid factual basis” for branding the company an “unlawful monopolist”, and added that the Federal Trade Commission’s August complaint relied on “guesswork rather than facts.” Facebook asked that the lawsuit be dismissed with prejudice, adding that the case was “entirely without legal or factual support.” The latest lawsuit is an amended version of the case filed by the Federal Trade Commission, which Facebook won in June by arguing that it is not a monopoly and that it faces intense competition from the likes of TikTok “and scores of other … [Read more...] about Facebook asks US court to dismiss antitrust case to force sale of Instagram and WhatsApp

The UK’s supermarket sandwich sector is “still too meaty” but there has been a significant jump in the use of alternative proteins as fillers, according to a survey. The use of alternative proteins as sandwich fillers has increased by 620% since 2019, a survey of 420 sandwiches from 14 retailers and food service outlets by the Eating Better sustainable food alliance found. However, many major supermarkets have reduced or dropped their plant-based sandwich offerings, while others are charging more for climate-friendly fillings. Eating Better said Tesco’s vegan sandwich range had shrunk by 28% since 2019, while Morrisons and Asda have entirely removed their plant-based sandwich options. Vegan sandwiches also tended to be more expensive, costing 15% more at Sainsbury’s than its meat offer, the survey found. Recommended Russia says EU sanctions that prompted transit ban ‘unacceptable’ On average, plant-based options are the most expensive sandwich … [Read more...] about Supermarket sandwiches ‘still too meaty’ amid alternative protein use rise

Gas prices aren't changing the minds of SUV owners to switch over to sedans, according to the latest data from automotive research firm AutoPacific . In a survey of more than 300 current SUV owners, the firm found that most of them would not consider downsizing to a smaller SUV or switching to a sedan when making their next vehicle purchase. But 45 percent of those surveyed said that they'd consider making the switch to a hybrid or plug-in hybrid (PHEV) SUV or crossover the next time they're car shopping. "Most new traditional gasoline SUVs get much better fuel economy now than they did when fuel prices spiked in 2008 and caused a shift in the market," AutoPacific president and chief analyst Ed Kim said in a press release. "Couple that with an influx of hybrid, PHEV and EV SUV offerings and consumers have so many choices that they don't have to downsize or change vehicle types." More than a quarter of respondents said that gas prices won't affect their next car purchase … [Read more...] about SUV owners won’t downsize just because of high gas prices.

Operating profit growth of listed private companies decelerated across broad sectors in the January-March quarter of 2021-22, on the back of rise in expenditure, according to an RBI data. The Reserve Bank has released its data on the performance of the private corporate sector during the fourth quarter (Q4) of 2021-22 drawn from abridged quarterly financial results of 2,758 listed Non-Government, Non-Financial (NGNF) companies. Operating profit of manufacturing companies decelerated sharply to 7% in the fourth quarter of last fiscal as against 70% in the corresponding quarter of the preceding fiscal. In case of companies in services sector (non-IT), the growth in operating profit slowed to 6.1% in the fourth quarter of 2021-22 compared with 62.5% in the year-earlier period. The operating profit in case of IT firms slowed to 5.9% from 19.7%. RBI data further said sales of 2,758 listed private non-financial companies recorded a healthy growth of 22.3% (year-on-year) in the … [Read more...] about Operating profit growth of listed firms decelerated in Q4 of FY22: RBI data

KUALA LUMPUR: Consumer electrical and electronics retailer Senheng New Retail Bhd is set to spend RM74.3 million on capital expenditure (CAPEX) for 2022. Executive chairman Lim Kim Heng said RM49.0 million of the CAPEX will be used to launch 21 new or upgraded stores this year while the remaining RM25.3 million had been utilised to acquire 1.17 hectares of land in Bandar Bukit Raja, Selangor, in May 2022, to support future expansion and upgrading of its warehousing and distribution network. "We are on track to meet our 2022 store launch target as we execute our expansion swiftly to capture more opportunities amid the recovery in consumer spending. "The number of new stores for 2022 represents approximately one-third of our total 61 outlets planned from 2022 to 2024,” he said after the annual general meeting of the group today. The latest expansion includes three refreshed retail brands, Grand senQ in Paradigm Mall Johor Bahru, senQ Elite in Pavilion Elite Bukit Jalil, and Grand … [Read more...] about Senheng set to splurge RM74.3mil for 2022 capex

After the US Federal Reserve has raised its key interest rate by 75 basis points, there are concerns over its impact on inflation in India as it may weaken the rupee through possible foreign investment outflows going forward. However, four economists news18.com spoke with said it will not have any direct impact on the consumer prices in India for now. They, however, said that in the coming months, if the rupee keeps weakening due to the FPI outflows, it will raise inflation through costlier imports. Else, the US Fed hike might have a positive impact on prices here if global commodity prices are “anchored” as a result of higher interest rates. The US Federal Reserve has raised its key interest rate by 75 basis points (bps), which is the highest since 1994. It had earlier planned a 50-bps hike for the June meeting but the US consumer inflation came higher than expected in May, at a four-decade high of 8.6 per cent. Bank of Baroda Chief Economist Madan Sabnavis said, “There is … [Read more...] about US Fed Rate Hike: Will It Impact Consumer Prices In India? Know What Economists Say