As predicted, shoppers worked themselves into a frenzy during November’s Black Friday, new figures reveal. But this year it was internet sales that soared.
According to the British Retail Consortium, a record one in four pounds was spent online during Black Friday. The Telegraph reports that ‘online sales of non-food items, which includes homewares and clothing, represented 27.6 per cent of all total non-food sales in the UK during November, against 25.3 per cent the year before.’All told, about £1.23 billion was spent online on Black Friday alone, according to retail analysts at IMRG, while 64 per cent of purchases were made on mobile devices, according to data from ChannelAdvisor.
Bank of England
The BBC reports that, at a speech in Liverpool yesterday, Mark Carney warned that ‘people will turn their backs on free and open markets unless something is done to help those left behind by the financial crisis’.The Bank of England Governor said: ‘Globalisation is associated with low wages, insecure employment, stateless corporations and striking inequalities.’ He also said that Britain was enduring its ‘first lost decade since the 1860s, adding that free trade had hurt the poor and fostered “isolation and detachment”.’ Housing hotspots
It’s an overused word but, nevertheless, a new list of so-called ‘hipster’ housing hotspots in the UK’s cities has been revealed. Mail Online reports that ‘they exhibit some of the most dramatic house price leaps in the country over the last five years’.
The list, published by property website Zoopla, includes Bristol’s Montpelier, Manchester’s Chorlton and London’s Dalston.
The city watchdog has proposed new rules to help protect investors in the ‘contract for difference’ (CFD) market, which includes financial spread betting. The CFD market offers the opportunity to speculate on a shift in the market without owning the underlying asset.
Following the announcement, companies such as CMC Markets and IG Group were hit, down 23 per cent and 22 per cent respectively on the FTSE 250 in the first half hour.