UK retailers set for best Christmas sales growth since 2007 - report

LONDON | Mon Oct 14, 2013 2:00pm BST
(Reuters) - British retailers are set to enjoy their best growth in Christmas sales since the financial crisis, according to a report published on Monday which forecast consumers would spend at least 2 billion pounds more than in 2012.

Market research specialist Verdict forecast spending in the fourth quarter would rise 2.2 percent from the same period in 2012 to 88.4 billion pounds - the best since 2007 when fourth-quarter spending grew 3.1 percent to 82.4 billion pounds.

Improving consumer confidence and job creation, along with a pick-up in the housing market, were some of the reasons cited by Verdict, which also pointed out that a baby boom during the recession meant consumers now have more children to buy Christmas presents for.

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Obama hopeful as fiscal meeting nears with top lawmakers

WASHINGTON | Mon Oct 14, 2013 8:26pm BST
(Reuters) - President Barack Obama said lawmakers appear to have made progress on a deal to reopen the government and avert a looming default on Monday as he prepared to meet congressional leaders with a Thursday deadline drawing near.

Obama and Vice President Joe Biden were due to meet at 3 p.m. (2000 BST) with Senate Majority Leader Harry Reid, Senate Republican Leader Mitch McConnell, House of Representatives Speaker John Boehner, and House Democratic Leader Nancy Pelosi, the White House said.