Sweeping price cuts have been announced by some of the UK’s biggest supermarkets as they launch a new year battle for customers. Morrisons, Tesco and Sainsbury have responded to tough market conditions with reductions in a range of goods to kick off 2019. Tesco has cut prices by up to 50 per cent on hundreds […]
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Retailer John Lewis ended 2018 on a high with sales up by 11 per cent for the last week of December compared with the previous year. The figures cover the John Lewis department stores and Waitrose supermarkets and come as high street retailers struggle in the face of online competition. A number of high-profile retail […]
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New fishing quota rules from the EU will cause further problems for the UK’s hard-pressed fishing industry, a House of Lord committee has warned. The new legislation bans crews from discarding fish that takes them over their allotted quota for a particular species, requiring them to bring all the catch back to shore. This could […]
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Business investment is having its worst run since the economic crash of 2008, new figures out today have revealed. Data published by the Office for National Statistics showed that investment declined for the third consecutive quarter between July and September. The 1.1 per cent fall on the previous quarter comes after a number of leading […]
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Economic growth in the UK’s pivotal services sector has slumped to its lowest level for more than two years, new figures show. The IHS Markit purchasing managers’ index (PMI) fell to 50.4 last month from 52.2 in October, indicating stalled growth. It is the lowest level since a sharp decline caused by the Brexit referendum […]
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New immigration curbs on low-skilled workers could cause huge damage to Britain’s economy, the Government has been warned. The head of the Confederation of British Industry says she is ‘very concerned’ by post-Brexit plans to restrict immigration visas for workers earning less than £30,000. Carolyn Fairbairn, the CBI’s Director-General, says the plans risk causing a […]
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Rail passenger groups have reacted with dismay at the news that fares are to rise by around 3.1 per cent in January. The Rail Delivery Group (RDG) confirmed the increase despite calls for fares to be frozen after a year of disruption on the UK’s railway network. The latest hike is based on the Retail Price […]
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Firms looking to stockpile extra food supplies to insure against a hard Brexit are finding that warehouses are fully booked, MPs have been told. Ian Wright, head of the Food and Drink Federation, said storage facilities for chilled and frozen food are at capacity and space for other goods is limited in certain areas. He […]
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Royal Mail has seen its pre-tax profits plunge by more than half for the six months to September. They fell 57 per cent to £33 million despite a rise in revenues of one per cent to £4.9 billion, underlining analysts concerns that its costs are still too high. Rico Black, who took over as Royal […]
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The British airline Flybe has confirmed that it is seeking a buyer weeks after warning shareholders that it was facing a £22m full-year loss. Board members at the Exeter-based operator say they are holding talks with a number of interested parties about a potential sale. Flybe issued a profit warning last month, citing high fuel […]
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