Operating profits in the grocery retail industry dropped by over 41%
According to CMA, competition in the UK grocery retail industry will keep price increases low, despite food and grocery costs at historically high levels.
UK inflation drops to almost 8% in June 2023, marking significant slowdown in price growth
Inflation in the UK fell to 7.9 per cent in June 2023 from 8.7 per cent in May, marking the lowest rate since March 2022, as reported by the Office for National Statistics.
The UK food and consumer goods business struggles with low consumer confidence, inflation and labour shortage
The UK food and consumer goods business is facing challenges, including inflation and labour shortages, according to the Institute of Grocery Distribution.
AI could increase the risk of fraud in the financial services of Britain
The FCA sounded the warning bell for financial services as AI fraud takes centre stage. The Head of FCA provided some crucial insights on how they are preparing to tackle AI frauds.
A fuel finder scheme could help drivers find the cheapest fuel along Britain's motorways
The CMA studied the road fuel market in depth to realise that the competition in retail has weakened since 2019, leading to them proposing a fuel finder scheme that helps consumers compare fuel prices.
Stocks climb, dollar sinks as Fed seen ending rate hikes
World stock markets rallied Thursday and the euro hit a 17-month dollar peak, after easing US inflation stoked hopes the Federal Reserve's long-running campaign of interest rate hikes could be near an end.
Chinese hackers breached US govt email accounts: Microsoft
Chinese-based hackers seeking intelligence information breached the email accounts of a number of US government agencies, computer giant Microsoft said.
A new set of clean maritime tech investments takes Britain closer to fulfilling its net zero target
In four rounds of competition, the best innovative technologies for the UK maritime sector like alternative fuels, offshore vessel charging systems, sustainable ferries, etc., were demonstrated.
UK food and drink sector expected to reach £315.2 billion by 2028
The UK food and drink sector is projected to reach £315.2 billion by 2028, a 19 per cent increase from 2023, according to IGD.
Stock markets rise on China support, pound rallies
Major stock markets mostly rose Tuesday as China moved to boost its flagging economy, while the pound hit a 15-month high against the dollar on expectations of more aggressive UK interest rate hikes.
UK unemployment climbs as inflation weighs on economy
UK unemployment rose back to four percent in the three months to the end of May, official data showed Tuesday, as the economy struggles with stubbornly-high inflation.
UK retail sales in June show modest growth, falling behind inflation rates
Retail sales saw a slight improvement in June, with like-for-like (LFL) sales increasing by only 1.9 per cent, according to the latest data from BDO LLP.
UK set to remain Europe's largest entertainment and media market, according to report
PwC highlights rapid recovery in the film industry and out-of-home advertising sector, with both projected to approach pre-pandemic revenue levels in the UK.
Stocks diverge as US rally loses steam
Stock markets diverged Wednesday as a rally fueled by upbeat US economic data ran out of steam, but the dollar got a boost on rate hike comments.
Stocks push higher as investors track China, US data
Global stocks advanced Tuesday as China's growth reassurances and solid economic data in the United States helped reduce recession worries.
'Drinkflation' a growing concern as high inflation worries UK hospitality sector
Less booze in your drink as soaring costs and reduced consumer spending pose challenges for brewing sectors.
Ruble drops, stocks mostly retreat after aborted uprising in Russia
The ruble reached a 14-month low against the dollar on Monday while US and European markets mostly retreated after a short-lived mutiny in Russia stoked concerns about the nuclear-armed country's stability.
Retail sales in the UK surpass expectations with 0.3% growth in May
UK retail sales experienced an unexpected increase of 0.3% in May, as experts identify King's coronation and warmer weather as possible reasons.
More than half of frequent convenience store shoppers are frustrated by growing food costs
A survey revealed a prevailing sentiment among respondents that convenience stores tend to overcharge customers due to their higher prices.
Bank of England set to increase interest rate for the 13th time in a row
The Bank of England is expected today to raise the interest rate for the 13th time in a row, despite recent forecasts of an improving economic outlook.
How can supermarkets and grocery stores prioritise food safety and combat unhealthy foods?
As consumers become more conscious of their health and safety, retailers are getting concerned about robust safety procedures to stay ahead of the curve.
Study finds online businesses lose billions and disappoint customers due to limited delivery options
A recent study by a delivery management firm reveals that the lack of delivery options is costing online businesses billions and leaving customers unsatisfied.
Mobile wallets overtake traditional wallets as UK consumers embrace digital convenience
The increasing adoption of smartphone-based digital wallets is transforming the dynamics of consumer behaviour, thereby ushering in a new era of spending in the UK.
UK consumer spending patterns revealed in recent report by Barclays
Inflation forces Brits to reduce discretionary purchases as consumer card spending grows in March. However, pubs and clubs flourished during the coronation weekend.
Over 40% of UK hospitality businesses operating at a loss
The hospitality sector in the UK is facing a significant financial crisis, with a staggering 70 per cent of businesses announcing plans to increase their prices in the coming year.
Unveiling the Economic Impact of Proposed UK Gambling Reforms
The concern centred around the potential impact on the gambling industry's revenue is a consequence of the proposed UK gambling reforms and their potential impact on the industry and broader economy.
UK interest rates raised for 12th time in a row to highest level for almost 15 years
UK interest rates have been raised for the 12th time in a row in a further attempt by the Bank of England to slow the rising cost of living, increasing the Bank's base rate from 4.25 to 4.5 per cent.
Recent data reveals global new vehicle market falls by 2% as declines occur in North America, China and Europe
New data by JATO Dynamics reveals an overall drop in vehicle registrations worldwide whilst nations such as India and South Africa have increased registrations.
Oil dips 2% on economic woes and stronger dollar
Oil dropped 2% on Tuesday after two sessions of gains as deepening concerns of an economic slowdown and a stronger dollar outweighed hopes of higher Chinese demand and lower U.S.
Wall Street tumbles, treasury yields slide as recession fears mount
U.S. stocks turned sharply lower and benchmark Treasury yields dropped on Tuesday as disappointing earnings and soft economic data stoked recession fears, sending investors fleeing riskier assets for safe havens.