New calls for council tax to be scrapped for older people

A parliamentary petition is calling for the Government to make state pensioners exempt from paying council tax. Millions of Britons are seeing a sizeable increase to their council tax bill this month as rates have increased five percent in many parts of England.

The petition on the Parliament website states: “We want the Government to abolish council tax for everyone in receipt of the state pension.

“After a lifetime of paying tax, National Insurance is abolished at retirement age. We believe council tax should also be abolished at retirement.

“Some pensioners have to spend around 30 percent of their state pension on council tax, which can be an enormous outgoing.”

More to follow…

CarMax Inc. Q4 Profit Declines, but beats estimates

CarMax Inc. (KMX) announced earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company’s bottom line came in at $69.01 million, or $0.44 per share. This compares with $159.84 million, or $0.98 per share, in last year’s fourth quarter.

Analysts on average had expected the company to earn $0.24 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 25.6% to $5.72 billion from $7.69 billion last year.

CarMax Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $69.01 Mln. vs. $159.84 Mln. last year.
-EPS (Q4): $0.44 vs. $0.98 last year.
-Analyst Estimates: $0.24
-Revenue (Q4): $5.72 Bln vs. $7.69 Bln last year.

Oil Prices Rise On China Demand Hopes

Oil prices traded higher on Tuesday amid hopes of Chinese stimulus and expectations that crude oil inventories in the U.S., the world’s biggest crude consumer, will fall again.

Benchmark Brent crude futures rose 0.6 percent to $84.66 a barrel, while WTI crude futures were up 0.7 percent at $80.29.

China’s consumer inflation hit an 18-month low in March and producer price deflation deepened further, creating room for the country’s central bank to potentially ease its monetary policy.

Hopes of more energy demand from China also supported prices.

Reuters reported that Chinese airlines were undertaking the biggest hiring drives inn more that three years to cope with an expected surge in travel demand this year after the relaxation of the country’s anti-COVID restrictions.

Elsewhere, India’s fuel consumption jumped to a record high in March, data showed on Monday.

Consumption of fuel in the world’s third-biggest oil consumer rose by 5 percent from a year earlier to 4.83 million barrels per day (20.5 million tons), the highest recorded in data going back to 1998 from the Indian Oil Ministry’s Petroleum Planning and Analysis Cell.

Traders await inventory data from the American Petroleum Institute later in the day for further direction.

The industry body reported a drop of over 4 million barrels in U.S. crude stockpiles last week.

Order Pizza On The Go With Domino's On Apple CarPlay

Domino’s Pizza Inc.’s Domino’s app is now available on Apple CarPlay, allowing customers to order pizza while on the go.

The pizza major’s Domino’s iOS app helps customers to skip long drive-thru lines and conveniently order pizza from the comfort of their cars.

There are two ordering options through Domino’s app on CarPlay, such as Tap to Order or Call to Order. Tap to Order lets customers submit their saved Easy Order or one of their most recent orders. Further, “Call to Order” allows them to place the order of their choice, hands-free, by talking to a customer service representative.

For ordering Domino’s through CarPlay, customers simply need to download Domino’s iPhone app, log into their Pizza Profile, and have a saved Easy Order or recently placed order, to use “Tap to Order”.

Christopher Thomas-Moore, Domino’s senior vice president – chief digital officer, said, “We know how frustrating it can be to wait in a drive-thru line just to place an order. Domino’s app on CarPlay is a great alternative to that, as customers still have the convenience of staying in their car, and can place an order from wherever they are, without waiting in a long drive-thru. It’s yet another way we’re bringing more ease and ordering options to customers across the U.S.”

Domino’s said its app on CarPlay is the brand’s newest AnyWare ordering platform, which allows customers to order from wherever they are, using whatever device they prefer. Other AnyWare ordering platforms include ordering through Apple Watch or with an emoji via text.

Gold Prices Edge Higher On Weaker Dollar

Gold traded higher on Tuesday as the dollar weakened following a three-day rally.

Spot gold rose 0.6 percent to $2,003.10 per ounce, while U.S. gold futures were up 0.7 percent at $2.018.

The dollar fell against major rivals as investors await more U.S. data this week for further clarity on what the Federal Reserve will do next.

After last week’s U.S. jobs data pointed to a tight labor market, traders now await U.S. CPI data, reports on retail sales and industrial production, the release of FOMC meeting minutes and speeches by Fed officials this week for additional clarity on the economic and rate outlook.

CME Group’s FedWatch Tool currently indicates a 71.7 percent chance the Federal Reserve will raise interest rates by a quarter point next month.

The U.S. inflation report is due on Wednesday. Economists expect the report to show consumer price inflation slowed last month but remains well above the Fed’s target.

The U.S. earnings season kicks off this week, with Delta Air Lines, JPMorgan Chase and UnitedHealth Group among the S&P 500 companies to unveil their financial results for the first three months of the year.