Business
Industrial output grows 5.2 per cent as manufacturing rebounds – The Times of India
NEW DELHI : The country’s industrial output growth accelerated in Feb, led by a recovery in the manufacturing sector, but the West Asia conflict is expected to weigh heavily on the crucial sector in the months ahead.Data released by the National Statistics Office (NSO) on Monday showed the index of industrial production rose 5.2 per cent in Feb, a tad higher than the upwardly revised 5.1% in Jan. The manufacturing sector rose 6 per cent in Feb, higher than 2.8 per cent in Feb last year and above the 5.3 per cent in Jan.Within the manufacturing sector, 14 out of 23 industry groups grew in Feb compared to the same month a year earlier. The top three positive contributors in Feb were — manufacture of basic metals (13.2 per cent), manufacture of motor vehicles, trailers and semitrailers (14.9 per cent) and manufacture of machinery and equipment (10.2 per cent), according to the statistics office. The electricity and mining sectors remained sluggish, rising 2.3 per cent and 3.1 per cent respectively.Experts expect the West Asia conflict to hurt factory sector expansion. Aditi Nayar, chief economist, ICRA, said the agency expects IIP growth to decelerate to 3 per cent-4 per cent in March, amid the unfolding adverse impact of the West Asia crisis on some manufacturing segments, both through the price and availability channels, and weaker electricity performance in the month.

Business
How Trump and the oil markets move in sync: A tango in five charts
Oil markets have been sensitive to Donald Trump’s comments on the war. But are traders growing less responsive?
Source link
Business
Households braced for ‘awful April’ as council tax and water bills soar
Households are facing near across-the-board increases in their bills as yet another “awful April” takes effect.
While energy bills are falling – for the time being at least – hikes to council tax, water, broadband and mobile phone costs are threatening to stretch many households to breaking point, charities have warned.
Across England, the average Band D council tax in 2026/27 will be £2,392 – an increase of £111 or 4.9% on 2025-26, according to the Ministry of Housing, Communities & Local Government.
The figures include all additional charges, including adult social care, parish precepts and costs levied by police, fire and regional authorities where appropriate.
It is the fourth year in a row that the England-wide increase has averaged around 5%.
Household water bills across England and Wales are to rise by an average of 5.4%, equating to £33 a year for the average household.
There is significant regional variation in bill increases, with Severn Trent customers seeing a 10% increase, Sutton and East Surrey imposing an 11% increase, Bristol Water a 12% rise and Affinity Water (central region) customers warned they have a 13% jump coming.
Around 2.5 million households are eligible for social tariffs, with savings of around 40%.
A host of broadband providers are hiking prices by almost £50 per year, with one in four customers (28%) free to leave and already paying between £7 and £9 a month more than in-contract customers.
Totally Money said “millions” of people are out of contract with their mobile phone provider, and so also free to leave and find a better deal – with some SIM only deals available for less than £5 a month.
In a sliver of good news, the price most households pay for energy will fall by 7% from April 1, driven by promised Government cuts to bills.
Ofgem’s price cap will drop from the current £1,758 to £1,641 – a reduction of £117 or around £10 a month for the average household using both electricity and gas.
However, the reduction is lower than the average £150 cut to bills pledged by the Chancellor in November, when she moved 75% of the cost of the renewables obligation from household bills onto general taxation and scrapped the energy company obligation (Eco) scheme.
And of increasing concern is the amount energy bills could rise by from July as a result of the Middle East conflict, with latest predictions suggesting this could be by well over £300 a year.
In the meantime, consumer groups have urged households to send in meter readings ahead of April 1 to ensure their energy usage is billed at the lowest possible rate, and investigate fixed rate deals.
TotallyMoney spokesman James McCaffrey said: “With around 22 million households on their supplier’s standard variable rate, most are paying the maximum allowed by the regulator.
“Check your current contract, and if you haven’t switched in the past year, it’s likely you’ll be free to leave – and you could save up to £917.”
He added: “One in four broadband customers are out of contract, paying up to £9 per month more than those in contract. To add salt to the wound, BT, EE, Plusnet and Virgin Media are all hiking broadband prices by £4 a month, Sky by £3, and Vodafone by £3.50 – adding nearly £50 more per year to bills.
“If you’re out of contract, then you’re free to leave and find a better deal. If you want to stay with your current provider, pick up your phone and haggle for a new deal.
“They won’t want to lose you to a competitor, and should offer you a better deal.”
Citizens Advice chief executive Dame Clare Moriarty said: “Many households never saw the back of the last cost-of-living crisis, with millions of people still unable to make ends meet.
“With key bills such as council tax and water rising from April and global instability threatening further price shocks, we’re concerned about those who have exhausted every option to keep pace.
“So far this year, we’re helping someone every 30 seconds with crisis support – that’s food bank referrals and charitable grants. And average debt owed is hitting record levels.
“Those struggling most need a lifeline. This should include better targeted energy bill support for people on low incomes, help with soaring rent costs, and support to help people get out of debt.”
Business
Car finance compensation: Millions of drivers to receive average £829 payout
The City regulator says 12.1 million mis-sold motor finance deals will be eligible for redress.
Source link
-
Politics7 days agoAfghanistan announces release of detained US citizen
-
Sports7 days agoBroadcast industry CEO says consolidation is ‘essential’ to compete for NFL soaring media rights prices
-
Entertainment7 days agoUN warns migratory freshwater fish numbers are spiralling
-
Tech7 days agoCan a Home Appliance Fix the Problem of Soft-Plastic Waste?
-
Business7 days agoProperty Play: Home flippers see smallest profits since the Great Recession, real estate data firm says
-
Fashion7 days agoICE cotton slips on weaker crude, profit booking
-
Business7 days agoMore women are entering wealth management, but few are in advisory roles, study finds
-
Business7 days agoCentre plans to cut broken rice share in PDS, boost ethanol feedstock supply – The Times of India
