Biggest UK fall in real wages for 100 years looms

Pay rises could fall behind inflation by almost 8% later this year, marking the biggest fall in real wages for 100 years, according to analysis by the TUC.

The TUC said a prediction by the Bank of England that inflation would jump to 13% in the fourth quarter of this year at a time when wages were expected to increase by just 5.25% meant living standards would fall by an unprecedented 7.75%.

The figure was calculated by looking at the impact of inflation on workers’ living standards using the latest Bank forecasts. The TUC said that workers had not suffered such a severe and prolonged decline in wages relative to inflation since the 1920s.

Tens of thousands of workers have signalled that they are prepared to strike after a series of ballots for industrial action.

More than 115,000 UK postal workers are to stage a series of strikes later this … Read more

Trade, Manufacturing Data Due Next Week



Economic Lookahead

NAHB home builders’ index (Aug.)

Featured Earnings

Tencent Music Entertainment Group (NYSE:TME) (Q2) EPS projects for six cents, compared to nine cents in the prior-year quarter.

Fabrinet (NYSE: FN) (Q4) EPS projects for $1.42, compared to $1.14 in the prior-year quarter.

Roivant Sciences Ltd. (NASDAQ: ROIV) (Q4) EPS projects for 77 cents, compared to 76 cents in the prior-year quarter.


Economic Lookahead

Monday will feature June’s wholesale trade, manufacturing sales, also for June, followed by MLS numbers from the Canadian Real Estate Association for July.

Featured Earnings

Badger Infrastructure Solutions Ltd. (T.BDGI) (Q2) EPS projects for gain of 24 cents, compared to a loss of 19 cents in the prior-year quarter.

K92 Mining Inc. (T.KNT) (Q2) EPS projects for five cents, compared to six cents in the prior-year quarter.

MAG Silver Corp. (T.MAG) (Q2) EPS projects for six cents, compared to three cents in the … Read more

Why picking the best media personalities to associate your image with defines you

You might not be able to choose your family, but you can Pick n’ Mix the best media personalities to associate your image with – It’s who you hang out with that vitally defines who you are

As they say, ‘You are what you eat’, whether you devour caviar, lobster, kebabs, pies or cakes. Do you have large gargantuan meals or tiny portions on your plate? Are you all about rich or bland food? How about it being hot and spicy? All of this intake becomes you.

It’s not the 490,600 people who follow him you need to be concerned about. Who are the 711 people Theo Paphitis is currently following on Twitter, who also follow him back? Brand Theo is connected to Duncan Bannatyne, Peter Jones, Tej Lalvani, Kelly Hoppen CBE, Jacqueline Gold CBE the Executive chair of Ann Summers, Conservative politician Rory Stewart, Footballer Peter Crouch, Boris Johnson, … Read more

Asia Mixed; Japan Zooms

Japan stocks surged on return to trade, while shares in the Asia-Pacific were mixed on Friday following strong gains in the previous session as investors digested the U.S. inflation report.

The Nikkei 225 shot higher 727.65 points, or 2.6%, to 28,546.98.

Japan’s Prime Minister Fumio Kishida on Friday said he will ask his government to come up with ways to address rising fuel and food prices in the country, Reuters reported. Inflation in Japan is not as hot as in other countries, but is hovering above the central bank’s 2% target.

In corporate news, Credit Suisse has reportedly applied to begin formal legal proceedings in the English High Court against Japanese tech company SoftBank Group over a $440-million dispute.

But SoftBank shares rose 5.55% on Friday on news that it would add 4.6 trillion yen ($34.5 billion U.S.) to its pre-tax gains by reducing its stake in Chinese tech giant … Read more