MT's week in 60 seconds

While American banking fell to its knees, others had their own problems dragging them down...

Last Updated: 06 Nov 2012

BA's coffers may take yet another hit in an action launched by US cargo importers, who reckon price fixing on fuel surcharges has driven up their shipping costs. Then there's the matter of rising bills. Ryanair announced it is to mothball 14 planes at Stansted this winter due to rising fuel costs and waning demand. Cue ever more desperate attempts to raise cash. Still, at least it's not Alitalia.

Meanwhile, French energy giant EDF finally agreed a deal to buy British Energy for £12.4bn. Which should be good news for Britain's drive towards a nuclear future. At least the rest of us may stand a chance of paying our fuel bills in future. 

As if the collapse of the financial system wasn't bad enough, things are looking grim for another of our invaluable structures: the internet is apparently running out of addresses.

Still, someone's mouth is turning up in the downturn. Many of the UK's supermarkets are benefiting as other retailers take the pain. Just don't mention the words ‘OFT' or ‘cartels'.

Comfort foods such as chocolate and fizzy drinks are doing well too. Sales of Cadbury's favourites including Crunchie, Curly Wurly and Dairy Milk rose by an average 6% in the last year.

But the trophy surely goes to JD Sports, which posted a 71% jump in half-year profits, by ‘bridging the gap between sport and fashion'. Much like the white sock did in the '80s.

Finally, however, while a cloud clearly hangs over much of our financial future, things could be a lot worse. Take the case of the Indian factory manager who was murdered by a mob of sacked workers.

Sometimes we just need to keep things in perspective.





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