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Sainsbury’s profits down 9% but sales rise

Sainsbury’s half-year profits have sunk 9% to £251m for the 28 weeks to 23 September. The news comes despite a 1.6% rise in like-for-like sales excluding fuel. Chief executive Mike Coupe said: “We are adapting to meet customers’ changing shopping habits and, as a result, we are seeing positive momentum across the business.”

House prices falling across the country

Surveyors say house price falls are now widespread across the country. The Royal Institution of Chartered Surveyors says that prices are declining in London, the South East, East Anglia and north-east England. Meanwhile, Scotland, Wales, north-west England and Northern Ireland have continued to see rising prices, it adds. Experts say the short-term outlook for prices is gloomy.

Gates, Bezos and Buffett own same as bottom half

The three richest people in the United States own as much wealth as the poorest half of the US population – some 160m people. A study found that Bill Gates, Jeff Bezos and Warren Buffett are sitting on a combined stockpile of $248.5bn (£190bn). The Institute for Policy Studies said Donald Trump’s tax change proposals would “exacerbate existing wealth disparities”.

Toy retailers banking on Xmas after sales fell

Toy stores are hoping for a busy Christmas after sales fell by 2% during the first nine months of the year. After two consecutive years of healthy growth, retailers and experts expect a flat full year at best for the sector. The weakness of the pound has pushed up prices in the UK as most toys are imported.

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Source:: The Week – All news

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Thursday 9 November 2017

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