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.
Kirstie Allsopp has waded into the female fertility debate again
...and it wasn't caused by an asteroid crash, as first thought
- 1 Snoop Dogg and Jared Leto buy a stake in Reddit as A-list invests $50m
- 2 Prince held a Facebook Q&A and this is the only question he answered...
- 3 35,000 walrus gather on north-west Alaska beach 'for a rest'
- 4 Brad Pitt, on the moment he completely lost his temper with Clint Eastwood's son
- 5 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
Stella McCartney apologises over controversial 'very ill' model picture on Instagram
Snoop Dogg and Jared Leto buy a stake in Reddit as A-list invests $50m
Prince held a Facebook Q&A and this is the only question he answered...
Brad Pitt, on the moment he completely lost his temper with Clint Eastwood's son
Cheryl Cole named 'the most dangerous celebrity' on the internet
Former Tory donor Arron Banks ups his Ukip donation to £1million following William Hague 'nobody' comment
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
The Osborne Ultimatum: Chancellor’s benefits freeze bombshell will affect ten million households
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Mark Reckless becomes second Tory MP to defect to Ukip in a month
Should gay sex be illegal? 16% of Britons think so
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