Mr Evetts

376 Flips | 2 Magazines | 141 Followers | @MrEvetts | Teacher of Economics and Business at RGS Worcester. HoD. 

Will the first Ikea in India succeed?

<b>Swedish furniture giant Ikea has opened its first store in India in the southern city of Hyderabad.</b><p>With a growing middle class, India could be a big opportunity for the company, but it is also a market with many quirks.<p>Ikea's giant blue store sits on a 13-acre campus, by the side of a busy road, in …

India

Amazon tax bill falls despite profits leap

<b>Online retail giant Amazon's UK tax bill fell last year despite a near-trebling of profits.</b><p>Amazon UK Services bill was £4.6m, down from £7.4m a year ago, accounts show.<p>But the division, which operates the warehouse "fulfilment centres", was able to defer £2.9m.<p>It meant that the company has paid …

Amazon Web Services

Bank of England raises UK interest rates

<b>The Bank of England has raised the interest rate for only the second time in a decade.</b><p>The rate has risen by a quarter of a percentage point, from 0.5% to 0.75% - the highest level since March 2009.<p>While the decision means that the 3.5 million people with variable or tracker mortgages will pay more, …

Economics

The surprising link between cocaine prices and economic growth

One of the joys of studying economics is that it lets you look at the basic, underlying causes of all sorts of things.<p>Using the economist’s toolkit …

Economics

The 13-year-old who built a best-selling lemonade brand

<b>The BBC's weekly The Boss series profiles a different business leader from around the world. This week we spoke to Mikaila Ulmer, the 13-year-old chief executive of Me & The Bees Lemonade.</b><p>Mikaila Ulmer's lemonade is now stocked in more than 500 stores across the US, but unfortunately she has …

Selling

Burberry burns bags, clothes and perfume worth millions

<b>Burberry, the upmarket British fashion label, destroyed unsold clothes, accessories and perfume worth £28.6m last year to protect its brand.</b><p>It takes the total value of goods it has destroyed over the past five years to more than £90m.<p>Fashion firms including Burberry destroy unwanted items to …

Burberry

'Netflix effect' poses challenge to British TV

<b>Video streaming services such as Netflix and Amazon Prime now have more subscribers than traditional pay TV services in the UK, new data from Ofcom has revealed.</b><p>The media regulator says British TV will have to change the way it operates if it wants to compete with the internet giants.<p>Sharon White, …

Brexit: Why services matter in any deal

<b>As Downing Street sets out details of a possible post-Brexit customs arrangement, one of the suggestions that has emerged about the government's plans for the UK's future economic relationship with the EU is that it may try - in effect - to stay in the single market for goods, but have a much</b> …

Tesco and Carrefour say 'strategic alliance' will cut prices

<b>Tesco says it is planning a "strategic alliance" with French retail giant Carrefour, as the two try to use their joint buying power to cut costs and offer lower prices to customers.</b><p>The two plan a "strategic relationship" when dealing with global suppliers, and the tie-up will also mean sharing …

eCommerce

Saudi Arabia job growth likely as woman driver ban ends

<b>Sunday marks a historic day for the women of Saudi Arabia.</b><p>After more than 60 years spent stuck in the passenger seat, the Gulf kingdom's 15.1 million women can finally take control of the steering wheel when the ban on female drivers is lifted.<p>Accountancy firm PwC predicts that the number of women …

Why aren't wages rising more quickly?

<b>There is a well-known model in economics - called the Phillips Curve for those who are interested - which suggests that when employment levels are high, wage increases follow.</b><p>And those wage increases feed through to higher levels of inflation.<p>It seems pretty obvious why.<p>When unemployment is at …

Wage growth slows despite unemployment fall

<b>Wage growth unexpectedly slipped to 2.8% from 2.9% in the three months to April, despite unemployment falling by 38,000 to 1.42 million, official figures show.</b><p>Economists had expected wage growth to remain steady at 2.9%.<p>The slowdown is likely to dampen expectations of an interest rate rise in …

Vaping - the rise in five charts

<b>For travellers looking forward to their summer holidays, what to pack can be a source of stress. But did you know that taking an e-cigarette with you to countries such as Thailand could land you with a fine - or even time in jail?</b><p>Countries including the Seychelles and Brazil have also banned the …

Public Health

How convenience stores are surviving the retail storm

<b>The fruit and vegetables lining the front of the grocers, Cruson, in Camberwell Church Street in London are tempting - but not massively consequential.</b><p>Yet this is just a tiny tip of a multi-billion pound sector comparable in size to oil and gas or defence.<p>At £38bn, the UK convenience store sector …

Inequality in India can be seen from outer space

<b>Are night lights on earth captured by satellites from outer space a good way to measure inequality?</b><p>Economists Praveen Chakravarty and Vivek Dehejia certainly believe so. They acquired images grabbed by satellites from the US Air Force Defence Meteorological Satellite Programme. These satellites …

Netflix eclipses Disney in market milestone

<b>Netflix briefly claimed the title of the world's most valuable media company on Thursday.</b><p>Shares in the online streaming giant rose more than 2% in afternoon trading in New York, pushing the firm's market value to more than $153bn (£114bn).<p>The ascent briefly eclipsed rival Walt Disney, which has …

Where are the richest households in the UK?

<b>The sharp differences in household incomes across the UK have been set out in official government statistics.</b><p>The average disposable income per person (the ONS calls this household income), once taxes and benefits are accounted, was £19,432 in 2016.<p>But in Kensington & Chelsea and Hammersmith & …

Inflation is easing but for how long?

<b>With wage growth strengthening and the rate of inflation falling more rapidly than expected, our incomes are finally starting to rise in real terms.</b><p>It is all relative, of course.<p>After a decade of income stagnation, any increases, although welcome, will need to be sustained before people are …

Toy shop closes because of Brexit

A TOY shop says it is closing because of the impact of Brexit.<p>Toyella, based on Worcester's Shrub Hill Industrial Estate, claims it is shutting …

Argentina raises interest rates to 40%

<b>Argentina's central bank has raised interest rates for the third time in eight days as the country's currency, the peso, continues to fall sharply.</b><p>On Friday, the bank hiked rates to 40% from 33.25%, a day after they were raised from 30.25%. A week ago, they were raised from 27.25%.<p>The rises are …

South America

Will 'bigger is better' approach work for Sainsbury's?

<b>Sometimes attack is the best form of defence and this bold move should be seen as a response to threats in the market from a resurgent Tesco's move into wholesaling, the rise of the discounters Aldi and Lidl and of course Amazon - which has the UK grocery market in its sights.</b><p>This bigger is better …

eCommerce

US economic growth slows to 2.3%

<b>US economic growth slowed to an annualised rate of 2.3% in the first quarter of 2018, the Commerce Department said on Friday.</b><p>The figure is better than the 2% economists had predicted, but still down from the rate of 2.9% seen in the fourth quarter of 2017.<p>Cautious consumer spending, which grew at …

Economics

Why is economic growth so poor?

<b>Is it Brexit? Snow?</b><p>The often slightly miserable nature of the first quarter growth figures, affected as they can be by the general economic lull post-Christmas?<p>A mixture of all or none of the above?<p>Untangling why the UK's economic growth has slumped so dramatically in the first three months of the …

House building slumps as Beast from the East hits economy

<b>The number of new houses registered to be built in the first three months of the year fell by 14% due to the harsh winter weather, new figures show.</b><p>Statistics from the National House Building Council (NHBC) revealed the drop - the worse percentage fall in one three month period since 2012.<p>Alongside …

Housing

Mr Hammond’s big test on borrowing

<b>The amount the government borrows is at its lowest level since 2007.</b><p>The current budget - the amount the government spends on day-to-day operations - is actually in surplus, albeit by a wafer thin amount.<p>That's the first time that has happened since 2002 and the era of Gordon Brown.<p>Tax receipts are …

Philip Hammond

UK government borrowing lowest for 11 years

<b>Government borrowing has fallen to its lowest annual level in 11 years, according to the latest official figures.</b><p>Borrowing fell by £3.5bn to £42.6bn in the 2017-18 financial year, the Office for National Statistics (ONS) said.<p>That was below the estimate of £45.2bn produced by the independent Office …

Economics

Six shops defying the High Street downturn

<b>Sometimes it seems there's nothing but doom and gloom on the UK's High Streets.</b><p>This week we heard profits were down at Debenhams and a big deal between shopping centre owners Hammerson, which owns Birmingham's Bullring, and Intu fell through.<p>New store openings are at their lowest level for seven …

Globalization

Can Fitbit get itself back into shape?

<b>When James Park bought a Nintendo Wii back in 2006, little did he know that the purchase would plant the seed for the birth of his own global technology brand.</b><p>Trying out the games console for the first time at his home in San Francisco, the then 29-year-old was greatly impressed by the …

Wearable Tech

Will paying more for alcohol and sugary drinks make us healthier?

<b>A minimum price on alcohol is being introduced in Scotland, in a bid to cut problem drinking.</b><p>It follows the introduction of a UK-wide sugar tax, as part of measures to tackle obesity.<p>But does making unhealthy products more expensive persuade people to make "better" choices? And what are the …

Diabetes

Motorway petrol prices 'exploitative', says Chris Grayling

<b>The transport secretary has called for an investigation into "exploitative" motorway fuel prices.</b><p>Chris Grayling told the competitions watchdog prices could be up to 19p more per litre than on forecourts elsewhere.<p>He said the UK's three biggest operators - Moto, Welcome Break and RoadChef - should …

Chris Grayling