Living standards in the UK are the fourth highest in the EU, according to new figures. The release of the Eurostat report comes as Shadow Chancellor Ed Balls warns the latest austerity measures could plunge the UK into a new depression era.
Oil plunged to a new five-year low with Brent futures for January falling below $66 per barrel on the London International Petroleum Exchange. The latest rout is due to banks and energy groups lowering price forecasts due to the continued supply glut.
Supermarket giant Morrisons binned of 10,000 Cornish pasties after their delivery driver arrived 17 minutes late for collection, according to a report on hunger in the UK. The report also found that 4.3 million tons of edible food is discarded annually.
A former brewery boss and Tory peer has blamed the closure of “many” British pubs on the rise of non-drinking Muslims communities. Lord Hodgson also said cut-price alcohol in supermarkets was a problem for the industry.
The financial crisis in Europe is prompting some nations to repatriate their gold reserves to national vaults. The Netherlands has moved $5 billion worth of gold from New York, and some are calling for similar action from France, Switzerland, and Germany.
Britain’s first poo-powered bus has done the business - making its maiden journey through the west of England. The bus service, which will run between Bristol and Bath, is completely powered by treated sewage and food waste.