Foreign News
UK Retailers Warn of Pre-Christmas Price Rises
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British retailers warned on Wednesday of pre-Christmas price rises after they reported the smallest year-on-year decline in the average selling price of goods in their stores since before the start of the coronavirus pandemic.
The British Retail Consortium trade body said shop prices rose by 0.
4 per cent in the month of October and were 0. 4 per cent lower than a year before, the smallest year-on-year fall since January 2020.Price rises were led by higher costs for food, which was 0.5 per cent more expensive than a year earlier.
“It is now clear that the increased costs from labour shortages, supply chain issues, and rising commodity prices have started filtering through to the consumer,” BRC chief executive Helen Dickinson said.
Three in five retailers planned to raise prices before Christmas, she added.
The BRC’s shop price index covers a narrower range of spending than the consumer price index targeted by the Bank of England, which touched its highest since 2012 in August at 3.2 per cent.
BoE Chief Economist Huw Pill predicted last week that inflation could soon reach 5 per cent – more than twice the BoE’s target – and financial markets expect the central bank to raise interest rates for the first time since the start of the pandemic next week.
The BRC data is produced with market research company NielsenIQ, which said rising prices could lead to a shift away from discretionary spending. (NAN)
Foreign News
At Least 5 Dead in Fresh Russian Attacks on Ukraine
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Russia has attacked Ukraine for the second consecutive night with heavy airstrikes involving various weapon types, initial reports from Ukrainian authorities said on Monday morning.At least five people were killed, two due to a rocket strike on a hotel in Kryvyi Rih and three others due to drone attacks on Zaporizhzhya, they said.
According to the Ukrainian Air Force, the Russian army once again used long-range bombers, launching cruise missiles. Hypersonic missiles of the Kinzhal (Dagger) type were also fired.The attacks were primarily aimed at Ukraine’s energy system, analysts observed.On Monday, Russia launched an attack on Ukraine involving 127 missiles and cruise missiles, along with over 100 combat drones.This was the highest number reported by the Ukrainian military in two and a half years of conflict. (dpa/NAN)Foreign News
Electricity Consumers Laud Jos Disco for Exceptional Service in Benue
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From Attah Ede, Makurdi
A broad spectrum of electricity customers in Benue State yesterday, commended Jos Electricity Distribution Plc for delivering consistent, stable and reliable services in the region.They gave the commendation during a radio interactive program on Brothers FM and monitored by our correspondent, heralding the launch of a customer consultative forum in Gboko, the traditional capital of the Tiv nation.
His Royal Highness, Ikpa Ahua, representing the paramount ruler of Gboko, led the commendations. He praised the company’s significant improvement in electricity supply over the past few months, noting its positive impact on local businesses.Ahua also appreciated the company’s metering policy, which has increased access to prepaid meters for customers.He however lamented the frequent cases of vandalism of electricity installations and pledged to intensify efforts to safeguard these facilities.Other dignitaries, including Prince Makir Zakpe, Kindred head of Gboko South, Zaki Amachi Terkimbi and Zaki Linus, also commended the company’s efficient service.In his opening remarks, Pastor Emma Ameh who represented the Managing Director, Engr Abdu Bello Mohammed, urged customers to settle their energy bills promptly, given the improvements in service delivery.He emphasized the need for customers to fulfill their obligations to enable the company to continue meeting its energy delivery mandate.Presentations by Lucky Akpobi, Head of Customer Complaints and Relationship Management, and Comrade Ojochide Matthew Agbata, Regional Manager of Makurdi, highlighted the benefits of prepaid meters in resolving billing disputes.Head, Corporate Communications, Dr. Friday Adakole Elijah, emphasized the importance of vigilance in combating energy theft and vandalism, urging customers to report suspicious activities to the company or law enforcement agencies.Foreign News
2 Pilots Killed in France as Military Jets Crash Mid-flight
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Two French pilots died when their military jets collided mid-flight in eastern France, the nation’s Air Force said in a post on X.
The two Rafale fighter jets were returning from a mission in Germany when they collided near Colombey-les-Belles, close to the city of Nancy, Wednesday’s post said.
A third pilot ejected safely and was quickly found, unharmed, the post said.
French President, Emmanuel Macron, expressed the country’s condolences to the families of the two pilots.
The aircraft were stationed in Saint-Dizier, in eastern France.
No details were initially provided regarding the cause of the accident. (dpa/NAN)