Budgeting advance

The boss of Sainsbury’s has warned that pressure on household budgets “will only intensify over the remainder of the year” as he pledged to invest more money to improve value for shoppers. Simon Roberts , chief executive of the supermarket group, said it is working to reduce costs across its operations amid continued inflation. “We really understand how hard it is for millions of households right now and that’s why we are investing £500 million and doing everything we can to keep our prices low, especially on the products customers buy most often,” he said. “The pressure on household budgets will only intensify over the remainder of the year and I am very clear that doing the right thing for our customers and colleagues will remain at the very top of our agenda.” Recommended Over £130m handed to housing providers named and shamed by regulator The chief executive, who took the top role in 2020, said more customers are switching to own-brand products … [Read more...] about Pressure on household budgets will only intensify, warns Sainsbury’s boss

Inflation is a nightmare for the many Americans who already stretch their dollars to cover basic needs. What happens when those dollars lose value? They have to make difficult trade-offs, beyond cutting streaming subscriptions or purchasing cheaper, store-brand groceries. Instead, Americans coping with high inflation may now be have to choose between buying enough food and paying rent. The families hit hardest by inflation typically have little in savings and few back up resources. Their limited financial means can be rooted in historical inequality, said Phuong Luong, a Massachusetts-based certified financial planner and founder of financial education firm Just Wealth. When inflation causes everything to become more expensive, for families of limited means, basic necessities can become unaffordable. You may have to scrape together cash to support yourself as well as extended family members. Perhaps you have to spend money and time traveling across town to the grocery store … [Read more...] about Can’t “out-budget” inflation? Here are things you can do

Published 11 March 2020 Share close Share page Copy link About sharing Business bodies have called on the Welsh Government to match UK Budget measures to help firms in England as the country deals with the spread of coronavirus. Business rates in England will be abolished for retail, leisure and hospitality firms with a rateable value below £51,000. Business rates are devolved to Wales. A Welsh Government spokesperson said it would consider how any extra funding could be best targeted. There are currently 19 confirmed cases of the virus in Wales but it is expected to spread much further. On Tuesday, Wales' First Minister Mark Drakeford urged Chancellor Rishi Sunak to provide Wales with the necessary funding to cope as he warned "enormous strain" could be placed on public services. Mr Sunak also announced that firms in England who already had full small business rate … [Read more...] about Coronavirus: ‘Wales must match Budget’s small business help’

The British opposition leader Sir Keir Starmer has said there is no going back on Brexit, in a speech on Monday night. Instead, he offered a new slogan as part of a drive to ensure Britain thrives: "Make Brexit Work". "There are some who say 'we don’t need to make Brexit work — we need to reverse it'," the Labour leader told the Centre for European Reform (CER) . "I couldn’t disagree more." "Let me be very clear. Under Labour, Britain will not go back into the EU. We will not be joining the single market. We will not be joining a customs union." It represents a major policy shift for Starmer — who in the run-up to Brexit called for a deal to be put to a second referendum, and lauded the benefits of the free movement of workers, now consigned to the past. It also further distances the country's current direction from the fiery debates and deadlock in the aftermath of the 2016 referendum, with the two largest parties firmly wedded to the UK's departure from the … [Read more...] about Brexit damage: Is EU exit now hitting UK’s economy harder than COVID?

City banks defy Brussels to out-earn French rivals PM urged to back bid for factory at heart of Britain’s food supply FTSE 100 rises 1pc Matthew Lynn: Biden’s global tax plan is sinking rapidly — and good riddance Sign up here for our daily business briefing newsletter T he Kremlin is poised to cut future spending plans by £24bn as Western sanctions against Russia bite. Defence, technology and transport budgets are all set to be trimmed, according to Russian media. More than 1.6 trillion roubles, or £24bn, has been slashed from the Russian state budget over the next three years as Moscow braces for a two-year recession. Spending will be 557bn roubles (£8.2bn) lower in 2023 than previously approved plans, with similar cuts pencilled in for the following two years. The budget tweaks are minor compared to the size of Moscow’s overall budget but the figures are one of the first signs of the fiscal blow being dealt by the conflict in Ukraine. The 2023 … [Read more...] about Kremlin slashes spending by £24bn as West’s sanctions batter Russia

Spain is increasing military spending as it works toward meeting a NATO commitment by dedicating 2% of gross domestic product to defense, the Spanish government said Tuesday. Cabinet members approved a one-off expenditure of almost 1 billion euros ($1 billion) for Spain's Defense Ministry that the government said was needed to cover unexpected expenses produced by Russia’s invasion of Ukraine . Spain has sent military and humanitarian aid to Ukraine, and deployed more troops and aircraft to NATO missions in Eastern Europe. NATO leaders agreed at a summit held in Madrid last week to expand their efforts to get all alliance members up to the 2% of GDP mark. Currently, only nine of the Western military alliance's 30 members meet or surpass that goal. Spain pledged at a NATO summit held in Madrid last week that it would reach the 2% of GDP goal by 2029. That would mean doubling its budget for military spending from the current 13 billion euros ($13.4 billion) to … [Read more...] about Spain boosts military spending to close gap with NATO goal

The British Embassy in Washington D.C. went viral on Twitter for trolling the United States on Independence Day. "We made a Fourth of July playlist..." the official embassy Twitter account tweeted along with a photo of a Spotify playlist featuring only the song "Baby Come Back" and a photo of Hamilton star Jonathan Groff in costume as King George III. The uncharacteristically funny post from an embassy Twitter account quickly went viral and has more than 100,000 likes on the platform at the time of writing. For anyone who needs a quick history lesson, the 13 British colonies on America's east coast won their independence from British rule during the American Revolution which was fought between 1775 and 1783. The viral joke comes amid serious political and social upheaval in the United States following the reversal of abortion rights with the repeal of Roe v. Wade , the Ulvade school shooting and a shooting during a July Fourth parade in Illinois on Monday. … [Read more...] about British Embassy trolls U.S. on July 4th: “You’ll be back”

An animal lover got an unpleasant surprise after getting a little too close to an alpaca in shocking footage widely shared online. A TikToker posting as sooyeunyi was made to regret her brief moment of affection after the distinctive South American camelid mammal reacted in unpleasant fashion to them being at close quarters. Though alpacas are known as largely friendly and harmless animals, this particular encounter is likely to put some people off cozying up to them again . In the video, a woman can be seen standing face to face with an alpaca among a herd of the distinctive-looking animals. For a brief moment, it appears as though the two are about to share a moment of affection with the alpaca leaning forward slightly and the woman doing the same. Milliseconds later, however, things take a disgusting turn for the worse with the alpaca releasing a wave of spit in her direction. The phlegm-like substance appears to engulf her entire face and some of her hair, while … [Read more...] about Woman regrets getting up close to alpaca: “Guide told us they love kisses”

Gordon Brown issues warning about inflation and recession Get pensions news and advice plus latest money alerts for FREE now SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info The effects on global supply chains due to the war in Ukraine, particularly the rise in food and energy prices, were partially to blame. The report comes as Sainsbury's boss Simon Roberts warned of intensifying pressures on households across the country. Related articles Pippa and Carole Middleton snubbed after being rejected at Wimbledon The Last Kingdom's Sigtryggr star in sweet tribute to co-star He said: "We really understand how hard it is for millions of households right now and that's why we are investing £500 million and doing … [Read more...] about Bank of England warning: UK told to brace for major economic storm – panic as prices erupt

The young man suspected of killing six people and injuring dozens at a Fourth of July parade uploaded a video showing the location of the attack before the mass shooting. Robert E Crimo III, 22, was arrested by police hours after shots were fired into the crowd during the celebrations in the Chicago suburb of Highland Park. Accounts that appear to belong to Crimo posted a number of violent and strange videos online, including crudely drawn animations of a violent shooting. Scene of the shooting The video showing Central Avenue, where the shooting took place, was filmed almost a year before the attack. It appears to have been filmed early in the morning and shows the street empty apart from American flags fluttering in the wind. Crimo edited it into a longer video that shows him smoking while looking at an American flag at half-mast over a memorial. In the video, he wears a clear backpack. These bags have been adopted by some American schools in a bid to combat … [Read more...] about Fourth of July shooting suspect Robert Crimo’s strange and violent online trail