There have been massive hikes in health and motor insurance, household utility bills, public transport and third level education fees and accommodation far in excess of the nominal rate of inflation, the study finds. And the increases are having a serious impact on household budgets, particularly among squeezed middle-income earners. While the cost of food has decreased between 2013 and 2018, many other household costs have soared dramatically in that time. The rate of annual inflation currently stands at 0.7pc, but in the five-year period, the rate was 1.39pc. Today's study shows that in the five years to last August the cost of essential items - effectively the real cost of living - has risen dramatically. The increases are particularly evident in certain areas: rent is up 44pc, overall insurance is up 18.7pc, household utility bills are up 10.2pc, rail transport costs are up 15.9pc, education costs are up 17.7pc and GP visit fees are up 8.3pc. Even the cost of non-essential items … [Read more...] about The real cost of living soars: Massive hikes in household essentials see working families worst hit
Increase productivity while decreasing cost
Pago Pago, AMERICAN SAMOA — Despite the negative health impact from eating turkey tails, Samoans’ love of this food item, and their continued purchase of it, has resulted in another price increase in June, according to the latest American Samoa Basic Food Index (BFI) prepared by the local Commerce Department. For the month of May the hike in turkey tail prices was 8% due to a lot of export of the product to Samoa. For the same month, May, the BFI recorded an almost 18% increase in the cost of imported taro after the ban was lifted. DOC released on July 10 the BFI for the month of June saying that the cost of turkey tails “continues to rise by 9%, having the greatest month-to-month price increase while the cost of taro dropped by 5.8% in June.” The continuing hike in turkey tail prices didn’t come as a surprise to some of the stores contacted by Samoa News for comments in the last two days. “June was not only Father Days but graduation season and that … [Read more...] about Turkey tail costs in American Samoa keep going up
Spirit AeroSystems (NYSE: SPR) has followed through on its pledge to diversify its business away from former-parent Boeing (NYSE: BA), agreeing May 2 to acquire Asco Industries for $650 million in cash. The strategic rationale for moving beyond Boeing is solid. But it will only work out for Spirit investors if the company can do a better job executing this time around than the last time it attempted to move out from under Boeing's shadow. A Spirit-made Boeing 737 fuselage. Image source: Spirit AeroSystems. Buying into Airbus Asco is a $400 million-sales privately held company with operations in North America and Europe. The company supplies wing structures, mechanical assemblies, and other components used on a range of platforms including Airbus and Boeing commercial jets, the F-35 fighter, and other military aircraft. Spirit was formed from a collection of Boeing production lines spun out as an independent company in 2005. In its early years, Spirit was reliant on its … [Read more...] about Spirit AeroSystems Turns to M&A to Decrease Reliance on Boeing
During a four year strategic plan, Italian energy major ENI will spend €900 million per year on exploration activities, targeting approximately 2 billion barrels of oil equivalent (boe) of new equity resources at approximately $2 per barrel and continuing to implement its dual exploration model, the company’s CEO, Claudio Descalzi, said in New York. ENI expects to deliver production growth of 3.5% per year during the Plan period, fueled by starting and ramping up new projects, which ENI expects to account for approximately 700,000 boe per day by 2021, and optimisation activities, which Eni expects to account for 200,000 boe per day by 2021, Descalzi said. Production in 2018 is expected to increase 4% from 2017. This figure, which is above the original guidance, takes into account the recent entry into the United Arab Emirates and the sale of 10% of Egypt’s Zohr. ENI’s strong asset base allows the company to target an annual average production growth rate above … [Read more...] about ENI’s production in 2018 expected to increase 4% from 2017
ATTEMPTS to curb rising levels of obesity will see tax on soft drinks from April 6, 2018. But just how much will the price of fizzy drinks increase by and how much sugar do they contain? Here's the lowdown... What is the Sugar Tax? The sugar tax was announced by Chancellor Philip Hammond in his budget statement in 2017. He said the money raised as part of the levy would go to the Department for Education. The former Chancellor said the new levy would be put on drinks companies and they would be taxed according to how much sugar was in their beverages. Two categories of taxation are set to come into force. One on the total sugar content on drinks with more than 5g per 100ml and a higher levy for drinks with 8g per 100ml or more. When will the price of fizzy drinks increase? The sugar tax will come into force on April 6 2018. The tax is estimated to raise around £520 million which will be used to fund sports in primary schools. Hopes of a U-turn by new PM Theresa May … [Read more...] about What is the UK sugar tax, when and how much will the price of fizzy drinks increase by and how much sugar do they contain?