British retailers set to lose millions after riots - LONDON (Reuters) - British retailers face tens of millions of pounds in costs and losses following rioting, looting and arson across and beyond London, and the impact on smaller businesses could be ... [BN-Net Retail News]

Terrible news, unbelievable images, hard to understand background is being splashed around the world media.

What is going on in London and several cities around the UK?

Are this just mindless thugs, misguided teenager, criminals and gangs roaming the streets to have "fun" and free goods?

If we think like this - do we miss a point or two?

Is there a link to the recession?

• British Gas announces 18% and 16% rises to its gas and electricity prices and others are following without hesitation - see The Guardian etc.
• British Gas has revealed profits of £518m – or almost £3m per day – over the last six months - tells us The Telegraph.

Admittedly, the parent company made less profits this year - but 1.2 billion in six months is still good going. Show me someone who is ahead this year going to work everyday after paying all the bills and keeping his place warm, light up and all mouths fed.

So, while companies like British Gas are driving inflation I would think they went too far this time. What is a rise of 18% (16%) telling the general public in this depressing climate? 'We want our cake and eat it? We take your money and you can't do anything about it!?!'

Reading through the news tickers on m&m - News - the picture of the world economy is far from clear. It goes up here and down there. The next day the messages are in reverse and on day three we have more bad news with the public debt rising everywhere.

Cutting public debt now and risk another dip - the double dip recession - or wait and spend to fire up the economy?!?

Pessimissm spreading through marketplace - A European Central Bank executive has said that all developed countries could face a Greek-style debt crisis. [BN-Net Economy News]

Retail, factory sales rise steadily - WASHINGTON — Retail sales rose in April for the seventh straight month, factory production surged and businesses restocked their shelves. The trio of government reports Friday pointed to an econ... [BN-Net Retail News]

UK households £6 a week worse off than last year - The average UK household was 3.8% worse off in February than a year ago as weaker earnings and inflationary pressures hit discretionary income. [Retail Week - News]

Do people really feel the difference of £6 a week and stop spending or do they stop spending even more because they worry about being worse off?

Germany is coming out of the recession.

Was the headline not long ago. Now we hear that retail sales are down by 4% or so year on year.

One of the old household names in retailing there - Quelle - a mostly catalogue / mail order business is going down into bankruptcy with a total sale-off until Christmas. Quelle went down following the demise of Arcandor the troubled company behind one of the last two remaining German department stores - Karstadt. They also owned 53% of Thomas Cook.