78 m. 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

2 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

4 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

5 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

5 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

5 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

2 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

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 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

1 week ago Iceland confirms exact date another supermarket store will shut for good this month

The Shotton Iceland branch - which is located on Chester Road - is pulling down the shutters for good when the store closes at 4pm on Monday, June 23

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

3 w. ago Scots supermarket worker quits job after scooping £10k per month Lotto win

Olivia Love plans to start a new career after winning £10,000 per month for a year on the Set For Life game

Economics

3 w. ago Auto Trader shares fall 10% as it reveals dwindling retail sales

Auto Trader said Britain's new car market grew 3% over the last year, mainly driven by more sales for company fleet vehicles, but standard retail sales slipped 4%.

Politics

3 w. ago UK retail confidence plummets as sales fall; markets welcome US delay to EU 50% tariffs – business live

Rolling coverage of the latest economic and financial newsEU hopes for quick deal to resolve US trade war after Trump delays 50% tariffsToyota to move some GR Corolla production to UK from JapanOuch! Germany’s economy is on track for its worst performance in post-war history, a new report shows.The German Chamber of Commerce and Industry (DIHK) predicted this morning that Europe’s largest economy will contract by 0.3% this year, Reuters reports. That would be the third annual contraction in a row, although not as bad as the 0.5% fall in GDP which the DIHK predicted back in February.“A mood of cautious relief is spreading after the long weekend, amid hopes for more fruitful trade negotiations between the United States and its global partners. There are no post bank holiday blues for the London market, with the Footsie in striking distance of the record high reached in February. More positive vibes are pulsing about the outlook for the global economy, with hopes that more scores can b...

Economics

3 w. ago Cost of steak goes up in supermarkets as food inflation rises for fourth month

Shop prices overall remained in deflation, at 0.1 per cent cheaper than a year ago and unchanged from April

Economics

3 w. ago Supermarket opening times for late May bank holiday weekend 2024

As the May bank holiday was moved to the last Monday of the month in Scotland, many of the country's biggest supermarkets will be open for their usual hours

Economics

3 w. ago Trump says Samsung and other smartphone manufacturers will also be subject to 25% Apple tariff – business live

US president says 50% tariff on EU goods to come in 1 June; Apple iPhones and those of other manufacturers made overseas to face 25% tariffTrump says he is hitting EU with 50% tariff as trade talks are ‘going nowhere’As well as cutting UK energy costs (see earlier), Donald Trump can also take credit for growing the German economy!New GDP data this morning shows that Germany’s GDP rose by 0.4% in January-March, twice as fast as the first estimate of 0.2% growth in the quarter.“The reason for the slightly higher growth compared to the initial estimate was the surprisingly positive economic development in March.”“In particular, production in the manufacturing sector and exports performed better than initially expected.The German economy had its best quarterly performance since the third quarter of 2022, and the reason for it seems to be Donald Trump. As a result of the announced tariffs and in anticipation of ‘Liberation Day,’ German industrial production and exports surged in March.Ne...

Economics

3 w. ago European markets suffer losses after Trump ‘recommends’ 50% tariff on EU, and threatens Apple with 25% tariff – business live

US president Donald Trump reignites trade war with threat to impose high tariffs on European goods, and Apple iPhones made overseasTrump says he is hitting EU with 50% tariff as trade talks are ‘going nowhere’As well as cutting UK energy costs (see earlier), Donald Trump can also take credit for growing the German economy!New GDP data this morning shows that Germany’s GDP rose by 0.4% in January-March, twice as fast as the first estimate of 0.2% growth in the quarter.“The reason for the slightly higher growth compared to the initial estimate was the surprisingly positive economic development in March.”“In particular, production in the manufacturing sector and exports performed better than initially expected.The German economy had its best quarterly performance since the third quarter of 2022, and the reason for it seems to be Donald Trump. As a result of the announced tariffs and in anticipation of ‘Liberation Day,’ German industrial production and exports surged in March.Net export...

Economics

3 w. ago Trump ‘recommending’ 50% tariff on EU, and threatens Apple with 25% tariff – business live

US president Donald Trump reignites trade war with threat to impose high tariffs on European goods, and Apple iPhones made overseasTypical energy bill in Great Britain to fall 7% to £1,720 a year from JulyAs well as cutting UK energy costs (see earlier), Donald Trump can also take credit for growing the German economy!New GDP data this morning shows that Germany’s GDP rose by 0.4% in January-March, twice as fast as the first estimate of 0.2% growth in the quarter.“The reason for the slightly higher growth compared to the initial estimate was the surprisingly positive economic development in March.”“In particular, production in the manufacturing sector and exports performed better than initially expected.The German economy had its best quarterly performance since the third quarter of 2022, and the reason for it seems to be Donald Trump. As a result of the announced tariffs and in anticipation of ‘Liberation Day,’ German industrial production and exports surged in March.Net exports an...

Politics