Business news in brief
Monday 15 September 1997
Economic growth in the UK is set to almost halve over the next year as rising interest rates hit consumer spending, the Chartered Institute of Marketing forecasts today. Professor Douglas McWilliams, the institute's economic adviser, predicted that total output growth would fall from 3.7 per cent this year to 2.1 per cent next year and would edge up only slightly to 2.3 per cent in 1999. Inflation will also drop back to 2.7 per cent in 1998.
Worldwide demand for energy could double by 2020, needing investment of $3 trillion to cope with demand, according to a report by PowerGen, the privatised generator. It says the huge rise in demand will influence the structure of the industry, with emerging economies funding the investment through privatisation programmes. PowerGen says the industry is likely to rationalise into large global companies or smaller independent power producers.
Marks & Spencer is planning to bring its Brooks Brothers clothing chain into Britain and Europe. There are 112 Brooks Brothers outlets in America and 62 in Japan. The chain, bought by M&S in 1988 for pounds 400m, mainly sells classic menswear, although recently it has introduced casualwear ranges.
- 1 I was a Woman Against Feminism too
- 2 Fifty Shades of Grey movie trailer released: First look at Jamie Dornan as Christian Grey
- 3 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 4 Students offered grants if they tweet pro-Israeli propaganda
- 5 The Tory donor whose firm is one of Britain’s biggest tax avoiders - with HMRC's blessing
Vladimir Putin employs a full-time food taster to ensure his meals aren't poisoned
Peaches Geldof: Her final day – and her fatal decision
Students offered grants if they tweet pro-Israeli propaganda
Israel-Gaza conflict: Israel may have committed war crimes, says UN human rights chief
Taiwan plane crash: Typhoon Matmo could have caused TransAsia Airways disaster, airline suspects
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
The truth about conspiracy theories is that some require considering
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
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