4 h. ago UK grocery watchdog investigating Amazon over alleged supplier payment delays; company insolvencies jump – business live

Groceries Code Adjudicator calls on suppliers to share their experiences of working with AmazonThe number of companies collapsing across England and Wales jumped last month, in a sign of the economic pressures hitting firms.There were 2,238 company insolvences in England and Wales during the month, which is 8% higher than in April and 15% more than in May 2024.“This latest rise in corporate insolvencies reflects the harsh reality many businesses face: fragile demand is not keeping pace with rising costs. Even the increasingly-likely prospect of rate cuts in August won’t do much to fix this – insolvency levels will remain elevated for the foreseeable future.“Sectors like hospitality are having a particularly challenging time in this environment, in no small part due to the impact on labour costs of April’s National Insurance and minimum wage increases. These businesses are now approaching what are some of their peak months and will be hoping for strong trading to bolster their resili...

Economics

6 h. ago UK high street chaos as Brits cut back on food and clothes as 'cracks' begin to show

New data from the Office for National Statistics makes for grim reading for many involved with the UK's high street, as two specific areas of retail have seen a huge fall in sales

Events

8 h. ago Business news live: FTSE opens higher but retail sales fell sharply in May

Stock markets latest updates and business news on Friday

Economics

8 h. ago UK retail sales slump in May after ‘dismal’ month for supermarkets

The Office for National Statistics said the total volume of retail sales fell by 2.7% in May – the biggest drop since the end of 2023.

Economics

8 h. ago Supermarkets suffer 'dismal' May as Brits cut spending on food and booze amid economic gloom with retail sales diving by biggest rate in a year

The Office for National Statistics said the total volume of retail sales fell by 2.7 per cent in May.

Economics

8 h. ago High street hit as retail sales slump in month after "awful April" bill hikes

Food stores saw a particularly big fall with volumes down by 5%

Economics

18 h. ago The Bank of England never misses an opportunity to miss an opportunity, says ALEX BRUMMER

The latest minutes from the Bank of England show that after an unexpectedly firm start to the year, the British economy has descended into gloom.

Politics

3 d. ago US retail sales fall and Americans turn cautious after spending early this year to beat tariffs

Retail sales fell sharply in May as consumers pulled back after a sharp increase in spending in March to get ahead of President Donald Trump’s sweeping tariffs on nearly all imports

Economics

5 d. ago Reeves braced for OBR forecasts to blow £20bn hole in tax and spending plans

Downgrades by Treasury watchdog could force chancellor to raise taxes or cut spending at budget to meet fiscal rulesRachel Reeves is braced for revised forecasts by the Office for Budget Responsibility (OBR) to blow a £20bn hole in her tax and spending plans before the autumn budget.Even without changing the totals the chancellor set out in her spending review on Wednesday, a weaker forecast from the the Treasury’s independent watchdog could force her to find significantly more money at the budget to meet her “non-negotiable” fiscal rules. Continue reading...

Economics

7 d. ago The best last minute booze and food gifts for Father’s Day 2025 from £2

Not sure what to get him - and fast? We've got you covered

Economics

8 d. ago 'Sheer incompetence': John Swinney urged to cut taxes amid £1.1bn economic performance gap

The Scottish Conservatives say the First Minister should cut taxes following the Chancellor’s spending review.

Economics

8 d. ago No new money to help cut UK business’s energy costs in spending review

Talks on scheme failed to reach deal before Wednesday’s announcement

Economics

1 week ago UK retail sales growth slowed in May, casting doubt on consumer resilience

Shoppers traded down to cheaper items, especially in non-food areas such as clothing

Politics

1 week ago Consumer spending slows to lowest growth of the year amid falling confidence

Gaming bucked the faltering sales trend due to popular new releases, according to the British Retail Consortium (BRC)-KPMG Retail Sales Monitor.

Politics

1 week ago Home Office may be forced to cut police numbers as result of Treasury deal

Sources say cuts to force headcount remain ‘a possibility’ as Yvette Cooper last minister to reach spending agreementThe Home Office could still be forced to cut the overall number of police officers after lengthy spending review negotiations with the Treasury.Whitehall sources said the department had been asked to look at all options including limiting officer recruitment, which would mean an overall cut in the headcount. Continue reading...

Society

1 week ago Households with toilet roll in bathroom urged to make simple change to save cash

The average household spends £428 a year on loo roll, but you could cut this figure down significantl, here's how

Politics

1 week ago B&M records dip in sales as retail giant hikes prices and ploughs on with store openings

The discount retailer blamed challenging market conditions, yet its value-led business model should have thrived in a period where consumers were watching their pennies, an expert said

Economics

2 w. ago Bitcoin and crypto funds on their way for UK investors, as watchdog plans to lift its ban

The FCA banned the sale of bitcoin and other crypto ETNs to UK retail investors alongside crypto derivatives in 2020, arguing they were not appropriate.

Economics

2 w. ago How much money Elon Musk lost because of feud with Donald Trump

Musk's government contracts were on the line as he continued to take part in a savage war with words against Trump, with their partnership breaking down over a tax-cut and spending bill.

Politics

2 w. ago Reeves urged to raise taxes and cut public spending as UK growth to stall after Trump tariffs

Labour chancellor under pressure from the OECD ahead of upcoming spending review

Economics