Sun. Sep 27th, 2020

UK consumer confidence stuck at lowest level in six years – business live

Rolling coverage of the latest economics and financial news as investors react to UK data showing consumer confidence flatlined in November

11.27am GMT

Consumer confidence is not the only economic indicator suffering as a result of Brexit uncertainty.

A Guardian analysis of data released over the past month gives us a wider view of the reality. My colleague and Observer economics editor Phillip Inman notes that Brexit has continued to knock confidence among businesses, resulting in a drop in pay growth for workers:

Related: Brexit uncertainty makes impact on October pay growth

Related: Are economic doldrums likely to continue? Experts discuss the data

10.54am GMT

DMGT chairman Lord Rothermere said the ‘i’ will be a “strong cash generator for the group.”

In 2018, the ‘i’ made around £11m in profits and was previously considered the crown jewel for JPI. The ‘i’ sells around 170,000 newspapers each weekday, and around 190,000 on Saturdays, while its website attracts around 300,000 daily unique readers.

We are delighted to welcome the ‘i’ to our stable of media brands. It is a highly respected publication with a loyal and engaged readership. We are committed to preserving its distinctive, high quality and politically independent editorial style.

The acquisition of the ‘i’ is both strategically and financially compelling for DMGT and there is scope for potential synergies in the future, notably from dmg media’s existing infrastructure and in advertising sales.

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