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UK growth accelerates; Greece begins talks with creditors – as it happened

Britain’s GDP-per-head is finally back to its pre-crisis levels, but factories are struggling to grow

2.11pm BST

PS: Don’t miss this piece on child poverty in the UK ; worth considering alongside today’s ‘encouraging’ GDP data:

Related: Britain’s rich are thrust into the future. The poor get kicked back into the past | Aditya Chakrabortty

Excellent @Chakrabortty piece on child poverty, charity and holiday hunger, a "Live Aid" for Britain’s poor

2.06pm BST

That may be all for today, I think. I’ll be back if there’s any major news out of Greece. Otherwise, enjoy the afternoon….. GW

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Source: The Guardian Circular Economy RSS

House prices in England and Wales hit record high

Average house prices overtake the pre-crash record for the first time, Land Registry figures reveal

House prices in England and Wales have climbed to a new record high after overtaking the previous peak reached at the height of the property boom, according to official data.

The Land Registry said the average home saw more than 1% added to its value in June 2015 alone, and said 21 London boroughs had seen annual price growth of at least 10%.

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Source: The Guardian Circular Economy RSS

Bank of England: Gertjan Vlieghe named as new MPC member

Senior economist at hedge fund returns to Bank of England, replacing David Miles on rate-setting committee

Chancellor George Osborne has announced that Gertjan Vlieghe, a senior economist at hedge fund Brevan Howard, will replace David Miles on the Bank of England’s monetary policy committee.

The move marks a return to the Bank for the dual British-Belgian national Vlieghe, who was economic assistant to the previous governor Lord Mervyn King. He left that post to work as a bond strategist at Deutsche Bank in London before moving to Brevan Howard, where he is a partner.

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Source: The Guardian Circular Economy RSS

Tesco to stop selling lunchbox-size sugary Ribena and Capri-Sun

High-sugar drinks withdrawn over concerns about childhood obesity, but supermarket will still sell ‘no added sugar’ versions and larger bottles for adults

Sugary drinks designed for children’s school lunchboxes are to be withdrawn from sale at Tesco amid concern over childhood obesity.

From September, Tesco will stop selling pouches and cartons of high-sugar Ribena, Capri-Sun and Rubicon drinks that have been popular with parents, often marketed as “fun”, “perfect for on the go” and “your daily dose of Vitamin C”.

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Source: The Guardian Circular Economy RSS

Next raises profit expectations after warm weather helps sales

Forecast for full-year profits is increased to £825m after sales rise of 3.3% in the six months to 25 July

Next has increased its profit expectations for the year by 2% after warm weather helped to increase sales.

Shares in the clothing and homewares retailer rose 2% to £76.55, close to a five-year high, as it said total sales were up by 3.3% in the half-year to 25 July. Previously, Next’s chief executive, Simon Wolfson, had predicted sales would increase by between 0% and 3%.

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Source: The Guardian Circular Economy RSS