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 Rarest Beanie Baby of them all could be sold for £62,500 on eBay
- 2 Ben Affleck asked TV chiefs to hide slave-owning ancestry, new hacked Sony emails published by Wikileaks claim
- 3 Driving while dehydrated can be just as dangerous as drink driving, study suggests
- 4 Farmer told to tear down mock-Tudor castle after hiding construction behind hay bales
- 5 One Direction: Louis Tomlinson launching his own record label, has already 'signed two acts'
Isis video purports to show beheadings and execution at gunpoint of 30 Ethiopian Christians and destruction of churches in Libya
Rarest Beanie Baby of them all could be sold for £62,500 on eBay
Professional big game hunter Ian Gibson crushed to death by elephant during hunt
Driving while dehydrated can be just as dangerous as drink driving, study suggests
Ben Affleck asked TV chiefs to hide slave-owning ancestry, new hacked Sony emails published by Wikileaks claim
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
The only black face in the Ukip manifesto is on the page about overseas aid
Ukip is the only main political party to not address LGBT rights in its manifesto
Food banks: One million Britons will soon be using them, according to Trussell Trust
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
BBC election debate: The one photo that summed up the whole 90-minute leaders debate
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