Gas prices to soar
Jul 18 2008 by Paul Gannon, Evening Gazette
GAS prices are set to soar and then remain high for the foreseeable future, a report has revealed. The independent report commissioned by Centrica, which owns British Gas, warns that prices could increase by 70%. Jake Ulrich, managing director of Centrica Energy, admitted that gas price rises were likely to lead to a “potentially significant” rise in the number of people in fuel poverty.
He also predicted that people would have to change their habits to deal with higher prices.
Qantas slashes jobs
QANTAS Airways Ltd, Australia’s flagship carrier, announced today it was slashing its workforce by 1,500 people worldwide and abandoning plans to hire 1,200 more as it tries to deal with skyrocketing fuel costs.
Chief executive Geoff Dixon said the cuts would total 4% of its total workforce and include closing call centres in Tucson, Arizona and London, causing the loss of 99 jobs there. About 1,300 jobs will be lost in Australia and the rest overseas.
Homebuyers blow
THREE-QUARTERS of potential first-time buyers are abandoning plans to get on to the property ladder due to the current housing market downturn, a survey showed today. Around 74% of people said they were putting plans to buy their first home on hold, according to foreign exchange group Moneycorp.
Online sales boost
SHOPPERS spent 38% more online in the first six months of 2008 than the same period last year, a report out today said. Figures show shoppers have spent more than £26.5 billion online so far this year compared with £19.2 billion in the first half of 2007, according to the e-retail sales index.
Internet shopping made up 17p in every £1 of retail spending this year.
The surge in e-commerce showed online sales were resilient to tough high street trading conditions, according to IMRG (Interactive Media in Retail Group) and Capgemini.
