Connect with us

Business

ECB to cut interest rate in October, economists predict

Published

on

Stay informed with free updates

A recent string of indicators pointing to the Eurozone’s slowing growth will probably lead to a 0.25 per cent interest rate cut by the European Central Bank next month, economists predict.

The long-standing consensus among economists until this week was that the ECB would wait at least until December before deciding on a further rate cut, after two such moves in June and September brought down the key deposit rate to 3.5 per cent.

Advertisement

But weak inflation data in France and Spain combined with an unexpectedly low Purchasing Managers’ index (PMI) for the Eurozone this week changed that general-held view, with many economists now expecting a rate cut in October.

“I expect the ECB to move its focus from inflation to growth risks,” Piet Haines Christiansen at Danske Bank wrote in a note to clients late on Friday when he updated his view, adding that the data was “simply too weak to not change the October meeting outlook”.

Economists at Goldman Sachs, JPMorgan, BNP Paribas and T Rowe Price on Friday also revised their forecast to say that an October cut was likely.

Bond prices, which at the start of the week pointed to a 40 per cent probability of a rate reduction at the next ECB meeting on October 18, on Friday priced in a 80 per cent likelihood, according to Bloomberg data.

Advertisement

The Eurozone PMI on Monday for the first time since February crashed below the crucial level of 50 when it unexpectedly sank to 48.9 from 51 in August, pointing to a sharp contraction in business activity.

The PMI data would be a “wake-up call” for the ECB, BNP Paribas’s chief European economist Paul Hollingsworth wrote in a note to clients predicting rate cuts both in October and December. The ECB would act on “a material risk that the Eurozone’s economic recovery will falter before it even has a chance to get properly going”, he explained.

In December, the ECB will update its own economic forecasts for inflation and growth, which the bank’s officials have long seen as a preferred basis for decision taking.

After the September cut, ECB president Christine Lagarde reiterated that the central bank was “not pre-committing” to further rate reductions, stressing that policymakers will stick to their “data-dependent and meeting-by-meeting approach” and assess all available indicators with an open mind.

Advertisement

A presentation by Isabel Schnabel, one of the ECB’s executive board members who is reluctant to endorse fast rate cuts, on Thursday suggested a possible shift in their stance: “Inflation expectations of firms and households have come down significantly,” one of her slides states. In a different speech a week earlier, she stated that “inflation perceptions remain high, making expectations more fragile to new shocks”.

Citi economist Christian Schulz said that the new wording suggested a “noticeable” change in sentiment.

A different member of the governing council told the Financial Times last week that the most recent economic data “seems to confirm the downside risks” while “disinflation was on track”. While this policymaker did not want to commit to their voting behaviour in October, “you can read between the lines”, they added.

For Tomasz Wieladek, an economist at T Rowe Price, “the more important is what is going to happen” after the October cut, he told the FT. Will the the ECB return to its pace seen since June, when it cut rates every other meeting, or will it act more quickly?

A lot hinges on the outcome of the US presidential election, argues Wieladek. Should Donald Trump win the November vote, increasing geopolitical uncertainty, such as the prospect of a trade war, “I believe the ECB will cut on every meeting until we get to 2 per cent”, Wieladek said.

If Kamala Harris is elected next US president, he expects that the easing will be slower. “The October move is likely to be an insurance cut” rather than a signal that the ECB will move faster from now on.

Additional reporting by Philip Stafford in London

Advertisement

Source link

Continue Reading
Advertisement
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Business

US climate change targets threatened by tech energy surge from AI

Published

on

Power-hungry artificial intelligence is consuming increasingly vast amounts of energy from the creaking US grid and threatening national efforts to tackle climate change, according to the latest expert forecasts.

Unprecedented energy demand, fuelled in part by expanding data centres for AI, combined with the slower-than-expected pace of renewable development and longer operating timelines for polluting coal plants, have prompted analysts to recast their models for cuts in greenhouse gas emissions.

The theme dominated discussions at Climate Week NYC, held on the sidelines of the UN General Assembly last week, where technology companies were more in focus than the fossil fuel companies behind pollution historically.

The latest report from BloombergNEF this week warned of the slower US progress on decarbonisation, predicting emissions would be reduced by as little as 34 per cent by 2030 from their 2005 levels.

Advertisement

The latest assessment puts the US trajectory even further from its national target to cut its emissions by 50-52 per cent by 2030 from 2005 levels, and to achieve net zero emissions by 2050, under its pledge to the Paris agreement.

“That’s not good by a long shot,” said Tara Narayanan, lead power analyst at BloombergNEF, calling the rise of AI power demand a “big disruption” to supply.

“It’s very much like that moment when you’re deep in the movie, and three different plot lines have been developed. You don’t know if it’s going to get resolved,” Narayanan said. 

The lack of grid infrastructure is proving a big constraint to progress on the green energy transition not just in the US but around the world.

Advertisement

China is set for an unparalleled $800bn in spending the next six years to overcome strains on the energy system as it makes a rapid shift from coal power to renewable sources.

In the US, power demand remained virtually flat for two decades. Now forecasters such as consultancy group ICF expect it to rise 9 per cent by 2028 and nearly 20 per cent by 2033, citing data centre growth, the onshoring of manufacturing and electrification.

The Electric Power Research Institute predicted this year that data centres could double their share of US electricity consumption by the end of the decade. 

Line chart of US emissions, billion metric tonnes of CO2 showing The US is not on track to reach 2050 net-zero Paris targets

But Jennifer Granholm, the US energy secretary, said she believed the country could still meet its net zero targets and handle the explosion in power demand, thanks to the near-$370bn green subsidies rolled out in the Inflation Reduction Act by Joe Biden’s administration.

“We have to be aggressive, but the momentum has begun, and it is not slowing down,” Granholm told the Financial Times.

Advertisement

Renewable project developers say the generation of green energy to meet the historic levels of demand is hampered by the fact that it can take up to half a decade to bring new supply online due to permitting and grid rollout delays.

“The need of the hour is to balance this,” said Sandhya Ganapathy, chief executive of EDP Renewables North America. “Unfortunately we may not have the [renewable] projects at the pace that is required.”

The proliferation of AI data centres has led to a race among Big Tech companies to find sources of low-emission round-the-clock power.

Last week, Constellation Energy and Microsoft signed a 20-year deal to reopen the Three Mile Island nuclear plant in Pennsylvania, the site of the country’s most serious nuclear accident. 

Advertisement

Expectations for higher electricity demand have also led to US operators delaying coal-fired plant retirements. S&P Global Commodity Insights has revised its expectations for coal plant shutdowns by the end of the decade by 40 per cent, even as renewable energy ramps up.

“The way things are going right now, it is very hard to imagine the US electricity system being carbon-free by 2035,” said Akshat Kasliwal, a power expert at PA Consulting. “We’re farther off from that target relative to where we were, call it three, four years ago.”

Pedro Pizarro, chief executive of Edison International, a public utility, said the surge in demand meant that gas power stations would also be required to remain in the energy mix for longer to ensure reliability of supply. Gas is mainly made of the potent warming methane molecule, which retains more heat than carbon dioxide but is shorter-lived in the atmosphere.

“We are not a gas company . . . We do not have a dog in the hunt of trying to keep gas around,” Pizarro said. “We, the industry, need to make sure that we have a system that’s reliable, resilient, given more weather extremes, as affordable as possible.”

Advertisement

The US has no shortage of renewables capacity, however. Lawrence Berkeley National Laboratory estimates that nearly 1.5 terawatts of generation capacity is waiting to be connected to the grid, enough to more than double the size of the country’s electricity system.

But projects built last year faced five years before they could get grid connection, and a shortage of transmission lines makes it difficult to transport green energy from distant generation sites to centres of demand.

Research firm Rhodium Group found that if data centre demand nearly tripled by 2035, and developers struggle to install new wind and solar, power sector emissions could be more than 56 per cent higher than forecast in its moderate emissions outlook.

Advertisement

However, the steep projections could also become much more muted as data centres become more efficient, tech group executives argue, and the wider adoption of AI reduces energy consumption by improving daily operations.

“Although it consumes energy to train the models, the models that are created will do the work much more energy efficiently,” said Jensen Huang, chief executive of Nvidia, the fastest-growing AI chipmaker, at the Bipartisan Policy Center on Friday. “The energy efficiency and the productivity gains that we’ll get from [AI] . . . is going to be incredible.”

Climate Capital

Where climate change meets business, markets and politics. Explore the FT’s coverage here.

Are you curious about the FT’s environmental sustainability commitments? Find out more about our science-based targets here

Source link

Advertisement
Continue Reading

Travel

Pretty UK beach where the ‘forest meets the sea’ – with miles of golden sand and tiny island

Published

on

Traeth Llanddwyn (Llanddwyn Beach) is backed by Newborough National Nature Reserve and Forest

LLANDDWYN Beach in Wales has won praise online, with some describing it as where the forest meets the sea.

Located in Anglesey, Traeth Llanddwyn (Llanddwyn Beach) is backed by Newborough National Nature Reserve and Forest, meaning the tall forest trees line the banks of the beach.

Traeth Llanddwyn (Llanddwyn Beach) is backed by Newborough National Nature Reserve and Forest

4

Traeth Llanddwyn (Llanddwyn Beach) is backed by Newborough National Nature Reserve and ForestCredit: Alamy
Holidaymakers will be able to reach Llanddwyn Island at low tide

4

Advertisement
Holidaymakers will be able to reach Llanddwyn Island at low tideCredit: Alamy

TikTok user aimee__laurenwilliams recently posted a video about the beach, writing: “One of the only UK places where the forest meets the sea”.

Newborough National Nature Reserve and Forest covers a large swathe of land in Anglesey, including Malltraeth Sands, the Cob Pool, Cefni Saltmarsh, Abermenai Point, Llanddwyn Island, Llanddwyn Bay and Penrhos Bay.

The pine trees that line Traeth Llanddwyn were planted between 1947 and 1965 to help stabilise the shifting sand dunes.

Just ten years after the trees were planted, Newborough National Nature Reserve and Forest was declared the first coastal nature reserve in 1955.

Advertisement

Because the area covers a large expanse of land, there’s plenty to keep visitors entertained.

Traeth Llanddwyn is a Blue Flag that’s home to more than 3.5 miles of golden sand and crystal-clear waters.

While there aren’t lifeguards, there are free toilets, as well as BBQ areas, picnic benches and food trucks in the summer.

From the beach, holidaymakers will be able to reach Ynys Llanddwyn (Llanddwyn island) at low tide.

Advertisement

The island, which has sweeping views over Snowdonia, is named after Saint Dwynwen, the Welsh patron saint of lovers, making it a popular spot for romantic getaways.

Visitors to Ynys Llanddwyn will find the ruins of St Dwynwen’s Church, a lighthouse (Tŵr Mawr), and Pilot’s Cottages, which have been converted into a small museum and visitor centre.

Meanwhile, Newborough National Nature Reserve and Forest is also home to some of the country’s rarest mammals like the red squirrel.

The pretty UK beach named the best in the country

There are several walking routes and trails in the nature reserve, including the Saint, Sand and Sea Trail.

Advertisement

The four-and-a-half-mile walk takes visitors on a three-hour journey through the Welsh nature reserve.

For families with younger children, there’s also the Nature/Animal Puzzle Trail.

The one-hour route starts in the beach car park and continues through the forest path.

Kids will be given a leaflet and tasked with animal spotting on the walk.

Advertisement

OTHER WELSH BEACHES

There are plenty of other “hidden” beaches dotted throughout Wales, including Skrinkle Haven Beach.

Beach-goers can only reach Skrinkle Haven Beach through a narrow tunnel when the tide is low.

Earlier this year, travel writer Catherine Lofthouse visited the beach, she wrote: “You’ll need to be fairly sprightly to travel through the tunnel safely, but we managed it with our four-year-old, so it’s possible for little legs.

“There are warning signs about getting cut off and the uneven levels you’ll encounter, so use common sense and research tide times to keep safe.

Advertisement

“Beyond the tunnel, Haven is certainly a good name for it with its sheltered sides and inviting golden sands welcoming us in.

“It really feels like a place that time forgot, but we don’t have the luxury of setting time aside and all too soon, we need to climb back up the tunnel before we’re stranded by the tide.”

Best Beach Destinations in the UK

HERE are five of the best coastal towns in the UK.

Advertisement
  1. Tynemouth – The best coastal location in England and Wales is Tynemouth, located in the North East of England and scoring 8.49 out of 10 overall. The area’s main beach is Long Sands Beach, a beach well known for its long stretches of golden sand and the powerful waves in the area making it ideal for surfing.
  2. Weymouth –  Located in the South West of England is the aptly named and award-winning Weymouth Beach. This beach is located at the very heart of the Jurassic Coast, a World Heritage Site that stretches the southern coast of England.
  3. Poole – Poole is the third-best coastal area for people to explore this summer, scoring 8.09 out of 10 overall for the factors we looked at. The main beach is Canford Cliffs Beach, which has won a Blue Flag Award; it’s a gorgeous sandy beach and within walking distance of Canford Cliffs Village.
  4. Clacton-on-Sea – Clacton is a seaside town and resort in the county of Essex, on the east coast of England. It’s home to the UK’s biggest pleasure pier, which is set currently undergoing a £40,000 transformation, with work already starting.
  5. Wallasey – Wallasey is a town in the Wirral, Cheshire. It’s home to a popular bathing beach at the eastern end of the North Wirral Coastal Park, next to the Derby Pool Harvester Bar and Grill.

Meanwhile, this UK seaside town is almost like visiting a Greek island.

And you can watch dolphins from a music festival at this UK destination.

Newborough Nature Reserve backs onto the beach

4

Newborough Nature Reserve backs onto the beachCredit: Alamy
The trees were planted in the 1940s to help the shifting sand dunes

4

The trees were planted in the 1940s to help the shifting sand dunesCredit: Alamy

Source link

Advertisement
Continue Reading

Money

‘We need these!’ cry Home Bargains shoppers over £4 Polar Express slippers ready for Christmas

Published

on

'We need these!' cry Home Bargains shoppers over £4 Polar Express slippers ready for Christmas

SHOPPERS are racing to their nearest Home Bargains to buy £4 Polar Express slippers in time for Christmas.

A savvy bargain hunter shared the discovery on Facebook to alert others of the deal.

Shoppers were alerted to the £4 slippers via a Facebook post

1

Shoppers were alerted to the £4 slippers via a Facebook postCredit: Facebook

It was uploaded to the Christmas Finds UK group.

Advertisement

The post read: “The Polar Express Slippers From £4 At Home Bargains.”

Group members were quick to weigh in with their opinions on the bargain find.

One wrote: “Get yourself to home bargains.”

Another said: “Got these and the pjs.”

Advertisement

Others tagged their pals and said that they “need these slippers”.

Do bear in mind that when prices are reduced it’s usually in order for stores to clear excess stock, so availability will vary from store to store.

It’s always best to phone ahead to your local shop to check what they have available to avoid disappointment.

You can find your nearest Home Bargains store using the locator tool on the website.

Advertisement
Shoppers fear for their bank accounts as they run to Primark to bag new Christmas drops & prices start from less than £2

It always pays to compare prices so you know you’re getting the best deal.

Prices can also vary day to day and by what deals are on at the time, plus remember you might pay for delivery if you’re ordering online.

You can compare prices on platforms like Google Shopping.

How to save money at Home Bargains

Knowing when to pick up products is one way to save money at Home Bargains.

Advertisement

Visiting your local branch at the right time of day, week and year can help you pick up bargains from as little as 69p.

We spoke to Tom Church, a shopping expert who reveals the best times to visit the store to bag a bargain.

Also join any shopper bargain Facebook groups such as Extreme Couponing and Bargains, as people love to share the news when they have bagged a cheap deal.

Be sure to look out for seasonal stock too, like most retailers, Home Bargains slashes its prices after big public holidays such as Christmas and Easter.

Advertisement

How to bag a bargain

SUN Savers Editor Lana Clements explains how to find a cut-price item and bag a bargain…

Sign up to loyalty schemes of the brands that you regularly shop with.

Big names regularly offer discounts or special lower prices for members, among other perks.

Advertisement

Sales are when you can pick up a real steal.

Retailers usually have periodic promotions that tie into payday at the end of the month or Bank Holiday weekends, so keep a lookout and shop when these deals are on.

Sign up to mailing lists and you’ll also be first to know of special offers. It can be worth following retailers on social media too.

When buying online, always do a search for money off codes or vouchers that you can use vouchercodes.co.uk and myvouchercodes.co.uk are just two sites that round up promotions by retailer.

Advertisement

Scanner apps are useful to have on your phone. Trolley.co.uk app has a scanner that you can use to compare prices on branded items when out shopping.

Bargain hunters can also use B&M’s scanner in the app to find discounts in-store before staff have marked them out.

And always check if you can get cashback before paying which in effect means you’ll get some of your money back or a discount on the item.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Advertisement

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

Source link

Continue Reading

Business

The Syrian war that changed Hizbollah

Published

on

The crowds filling the town square in rebel-held north-west Syria were ecstatic, honking car horns, letting off fireworks and shooting guns in the air. They were celebrating an assassination: that of Hassan Nasrallah, the leader of Hizbollah and a sworn enemy of the Syrian opposition.

“We are celebrating the death of the despicable one,” a man yelled to a local journalist over the hubbub in jihadi-controlled Idlib, the last bastion of Syrian opposition. “He did a lot to us . . . Everyone from old to young is happy”. Another cried with joy.

Nasrallah, the leader of the Iran-backed Shia militant group, was killed in an Israeli air strike on Friday in Beirut, nearly a year after his group started launching rockets into Israel to support Hamas following its October 7 attack.

But the victorious atmosphere in Idlib was a reminder of how Hizbollah had also intervened in other conflicts across the Middle East, most notoriously fighting alongside Syrian dictator President Bashar al-Assad for more than a decade.

Advertisement

The decision to expand from its traditional territory of south Lebanon and enter Syria’s civil war was transformative for Hizbollah. It turned the militant group from a movement focused on resisting Israel from Lebanon into an attacking overseas force and a regional arm of Iran’s Revolutionary Guards’ overseas Quds Force.

The war in Syria also damaged Hizbollah, analysts said. It pitted it against fellow Muslims, eroding support among Sunnis and others around the Middle East who came to see it as a sectarian force propping up a hated dictator. Getting mired in a still unresolved war in Syria also overstretched the group, sowing the seeds for its current calamitous losses at the hands of an emboldened and untrammelled Israel, its original foe.

“Hizbollah’s role started to change”, said Hanin Ghaddar, a senior fellow at The Washington Institute. “They were no longer a Lebanese resistance group. They became Quds force’s regional arm.”

For Assad, Hizbollah’s support was crucial. With backing from Iran and Russia, it helped him keep control of fractured Syria and crush all but small pockets of resistance such as Idlib, now packed with millions displaced from former opposition areas that Hizbollah fought to return to Assad’s control.

Advertisement

When Assad brutally put down mass protests and civil war broke out in Syria in 2011, Nasrallah was faced with a difficult choice: potentially lose the friendly, Iran-aligned Assad regime to a likely hostile Sunni opposition government, or enter the battle and protect Hizbollah’s supply lines of weapons from Iran. He eventually decided to deploy about 10,000 men in the neighbouring country, according to multiple analysts, a significant amount of the group’s fighting force.

Supporters of Hizbollah argue that it helped push back the jihadist militant groups that had emerged from the wreckage of Syria’s opposition forces. The most powerful was Isis, which ultimately over-ran entire cities in eastern Syria and Iraq before being defeated by a US-co-ordinated coalition.

ssassinated Hizbollah leader Hassan Nasrallah with Syrian President Bashar al-Assad
Assassinated Hizbollah leader Hassan Nasrallah, left, with Syrian President Bashar al-Assad in 2010 © Sana/Reuters

But critics blame the Shia militants for turning Syria’s civil war into a sectarian battle between Muslims. Most of Syria’s opposition is Sunni, the country’s majority sect, while Assad is Alawite, an offshoot of Shiism. Opposition media reported Hizbollah militiamen and regime soldiers had attacked villages in Idlib just last week.

“[Hizbollah] did all these ugly things,” said Bassam Barabandi, a former Syrian diplomat under the Assad regime who defected to the opposition. “They made it a sectarian war, 100 per cent.”

Backing the Syrian dictator, who had been expelled by the Arab League and at the time was reviled around the Arab world, was an enormous gamble for Nasrallah. It expended much of the goodwill he had earned from withstanding a month-long Israeli offensive in 2006, when the group was widely praised for defying Israel and seen as victorious.

Advertisement

Randa Slim, a programme director at the Middle East Institute in Washington, said Hizbollah officials she has spoken to knew that joining Assad would hurt their image, but believed that they would be able to restore their credibility in the next war with Israel: “Part of them, I think, believes this [current Gaza] war has helped them regain that goodwill . . . throughout the Arab publics.”

A member of Hizbollah holding a gun
The decision to expand from its traditional territory of south Lebanon and enter Syria’s civil war was transformative for Hizbollah © STR/AFP/Getty Images

Analysts also said that Hizbollah’s victories in Syria appeared to artificially boost Nasrallah’s belief in his group’s military prowess, an attitude that Mohanad Hage Ali at the Carnegie Center in Beirut said was evident from his speeches.

While Hizbollah gained valuable battleground experience in Syria, fighting disparate rebel groups with no air power did only so much to prepare them for the might of Israel’s armed forces.

“This faux sense of military strength . . . was probably based on his Syrian experience again but it overlooked the fatigue impact,” Hage Ali said. “Fighting a war in south Lebanon for 30 to 40 days is one thing. Fighting a war for six to seven years in Syria is something else.”

Some analysts also argue that Hizbollah’s regional role for Iran, which included training and logistics support to Iran’s other proxy forces in Yemen and Iraq, may have helped distract Nasrallah’s commanders from their traditional focus on the Israeli front.

Advertisement

It “neglected the Israeli border while Israel was focusing on them,” said Ghaddar. “Israel was looking at Hizbollah as a priority, but Hizbollah was distracted by Syria.”

Hizbollah is now at its weakest point. Assad has so far been conspicuously silent about Nasrallah’s death, and the group’s members are under an unprecedented assault.

Southern Beirut’s Dahiyeh district, where Hizbollah had made its headquarters but which is densely packed with civilians, has been relentlessly targeted by Israeli air strikes. Dozens of civilians have been killed as well as Hizbollah commanders. Streams of Lebanese refugees, many of whom are Shia with Hizbollah members in their family, are heading for the Syrian border.

But Hizbollah’s investment in Syria may yet provide a lifeline. Years of fighting in the country allowed it to create a new stronghold outside Lebanon to which its fighters’ families can retreat, in the Damascus neighbourhood surrounding the important shrine to Sayyeda Zainab, the daughter of Ali, the first Shia Imam.

The area has “become more like Dahiyeh . . . They did build roots,” Ghaddar said, establishing religious centres and schools. “But they haven’t gone as deep as in Lebanon.”

Source link

Advertisement
Continue Reading

Money

Poundland shoppers rush to buy ‘amazing’ dupe of iconic designer perfume for just £4 instead of £48

Published

on

Poundland shoppers rush to buy ‘amazing’ dupe of iconic designer perfume for just £4 instead of £48

POUNDLAND shoppers are rushing to buy an “amazing” dupe of an iconic designer perfume for just £4.

The bargain store is selling a cheaper version of Moschino’s Toy 2 Bubblegum fragrance for a whopping £44 less.

Poundland shoppers are rushing to buy a dupe of an iconic designer perfume for just £4

1

Poundland shoppers are rushing to buy a dupe of an iconic designer perfume for just £4Credit: Extreme Couponing and Bargains UK/ Facebook

Poundland‘s Teddy perfume in pink plush costs just £4 for 50ml, while the Moschino bottle can cost as much as a whopping £48 for the same size.

Advertisement

Savvy shoppers shared the fragrance to the Extreme Couponing and Bargains UK Facebook group.

They wrote: “Moschino dupe in Poundland. Not sure if it smells the same tho.”

The bargain hunter shared a photo of the perfume dupe, sporting very similar packaging as the designer scent.

The post was met with hundreds of comments from fellow shoppers itching to get their hands on the fragrance.

Advertisement

One wrote: “It’s really nice I have it!”

Another declared: “This is my favourite perfume have to investigate.”

A third commented: “It smells lovely I have it , I’m gonna go get more.”

A fourth said: “Just brought it and smells amazing.”

Advertisement

While a fifth tagged their pal and wrote: “These would be cute for girls Xmas.”

Five ways to save money at Poundland

“I wouldn’t care what it smelled like I just love the bottle,” another said.

A bottle of Moschino can cost from £48 for 50ml on sites like Look Fantastic.

It means that for those looking for a cheaper alternative, this dupe costing just £4 is a huge saving.

Advertisement

Of course, keep in mind that the scents may not last as long or aren’t as strong, so bear this in mind before you opt for a dupe.

It’s worth bearing in mind, the scents also might not match exactly.

Shoppers can find Poundland’s perfume in store only, as it’s not available online.

To find your nearest store head over to the B&M website.

Advertisement

Each store will have its own stock of the scents and these kinds of items tend to sell-out pretty quickly.

It’s always worth phoning ahead to your local store to check how many they have available.

It’s always worth having a sniff first to make sure you like the smell before purchasing.

As always, make sure to have a shop around before you commit to a purchase to make sure you’re always getting the best deal.

Advertisement

Are dupes worth it?

THE Sun asked an independent perfume expert to carry out blind smell tests of popular perfumes and their high street “dupes” to see if the budget versions lived up to the originals.

Noemie Maury is a senior fragrance evaluator who has worked with major fine fragrance and toiletries brands for over a decade.

High street chains can create perfumes cheaply by buying them from big fragrance manufacturers which grow their own ingredients in-house,” says Noemie.

Advertisement

“Because they use oils from flowers they grow themselves instead of importing ingredients, they save on costs and can create fragrances for high street brands at a discount price.”

It means they can lack the depth and complexity of more expensive brands which use a wide variety of more expensive ingredients.

Other perfume dupes

Bargain hunters have spotted two new mists at Poundland – and claim they smell just like Marc Jacobs.

The dupes from the brand Scentlis are called Pure Elegance and Bloom Body – both selling for just £1 for a 100ml bottle on Poundland’s website.

Advertisement

One such shopper who bought the fragrances wrote on Facebook: “Got these today from Poundland and I cannot tell you enough how hey smell like Marc Jacobs.”

Meanwhile, a young woman said she wanted new perfume, but couldn’t justify the price, so tried out the dupes from Home Bargains instead

Beauty fan Emily Megan Mays explained that she nabbed two of the perfume dupes from the high-street chain, for just £1.99 each, and was left stunned at how nice they smelt. 

Thrilled with her cheap finds from Home Bargains, Emily took to social media, proudly showing off her bargain buys. 

Advertisement

Posting online, Emily shared her clip with the caption “The BEST perfume dupes! Run, don’t walk to Home Bargains”.

The “Scentalis Luna Sparkle Eau De Parfum”, an aromatic blend of fruity and floral scents, has been combined to create a dupe of the infamous £55 “Daisy” by Marc Jacobs.

Poundland describes the scent as: “An excellent choice for anyone in search of a special present or personal indulgence.

“Fragrant blend featuring fruity notes of pomegranate and yuzu, delicate floral scents such as peony, magnolia, and lotus, and musky undertones.”

Advertisement

Shoppers are rushing to buy dupes of popular Sol de Janeiro scents that they say smell “gorgeous”.

They’re on sale for a whopping £22 less than the big brand sprays.

How to bag a bargain

SUN Savers Editor Lana Clements explains how to find a cut-price item and bag a bargain…

Advertisement

Sign up to loyalty schemes of the brands that you regularly shop with.

Big names regularly offer discounts or special lower prices for members, among other perks.

Sales are when you can pick up a real steal.

Retailers usually have periodic promotions that tie into payday at the end of the month or Bank Holiday weekends, so keep a lookout and shop when these deals are on.

Advertisement

Sign up to mailing lists and you’ll also be first to know of special offers. It can be worth following retailers on social media too.

When buying online, always do a search for money off codes or vouchers that you can use vouchercodes.co.uk and myvouchercodes.co.uk are just two sites that round up promotions by retailer.

Scanner apps are useful to have on your phone. Trolley.co.uk app has a scanner that you can use to compare prices on branded items when out shopping.

Bargain hunters can also use B&M’s scanner in the app to find discounts in-store before staff have marked them out.

Advertisement

And always check if you can get cashback before paying which in effect means you’ll get some of your money back or a discount on the item.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

Source link

Advertisement
Continue Reading

Business

Oasis ticket seller and promoter bosses get £14.8m

Published

on

Oasis ticket seller and promoter bosses get £14.8m

The six bosses at one of the firms involved in the controversial ticketing and promotion of Oasis’ reunion tour have received a £14.8m total dividend for 2023.

The directors got the payout after the firm, SJM, made a £11.8m pre-tax profit, according to its accounts for last year, posted on Thursday.

The payout, which is unrelated to next year’s Oasis tour, comes as band, the competition watchdog, and MPs hit out at a number of companies over the dynamic ticket pricing set for the gigs in the UK and Ireland.

The row erupted after fans found they were being asked to pay about £350 for some tickets that were originally advertised as being priced at around £150.

Advertisement

SJM declined to comment on the dividend payment.

The company also promotes and sold tickets for a range of other gigs and shows from artists including Harry Styles, Coldplay, and Little Simz.

The dividend from SJM’s accounts is for 2023, a period in which sales climbed to £275m from £286m in 2022.

The payout for the six directors was more than double the £7.35m dividend the previous year.

Advertisement

The revenue from 2023 does not include fees for promoting Oasis’ tour, which experts predict could be substantial.

Birmingham City University estimated the initial tour dates may bring in roughly £400m in ticket sales and other add-ons, with SJM taking a cut of that.

Headed by ticket promoter Simon James Moran, SJM is one of several companies involved in the promotion of the Oasis reunion tour and the selling of the tickets.

The businesses involves companies which all have links to LiveNation, the US multinational which owns Ticketmaster.

Advertisement

The other two promoters are MCD Promotions and DF Concerts. In addition, SJM owns gigsandtours.com, which was one of the three three ticket sellers alongside Ticketmaster and SeeTickets.

The official competition watchdog has launched an investigation into whether the sale of Oasis tickets breached consumer protection law, stating it had “concerns over whether buyers were given clear and timely information”.

Oasis said they had “at no time had any awareness that dynamic pricing was going to be used” in the sale of tickets for the initial dates.

Meanwhile, Culture Secretary Lisa Nandy said she wanted to ensure tickets were sold “at fair prices”.

Advertisement

Irish politicians also criticised the sale after some standing tickets at Croke Park in Dublin rose from €176 (£148) on pre-sale to more than €400 (£337).

Source link

Continue Reading

Trending

Copyright © 2024 WordupNews.com