Poundland faced with staggering tenfold rise in shipping costs October 14, 2021 Discount retail giant Pound has seen shipping costs rise tenfold due to global supply chain issues. Andy Bond, chief executive of PepCo, which also runs Dealz stores across Europe, said the retailer has enough stock to keep shelves full although he admitted price pressures are being felt. He did not expect the pressures to ease [...]
City rejects looming interest rate rise: ‘Old Lady should adopt Maradona theory’ October 14, 2021 Markets are increasingly betting that the Bank of England will raise interest rates before Christmas to contain spiralling inflation. The shift came after two of the Old Lady’s most senior officials gave the strongest signal yet that the central bank is ready to choke off inflation. Strengthening predictions over a looming rate hike triggered a [...]
Londoners’ petrol and energy costs up by record 20 per cent in last two weeks alone October 14, 2021 Analysis of Brits’ debit card data shows this morning that September 24 saw the highest amount spent on fuel in a single day since Lloyds Bank records began. The peak fell the day after BP and Tesco closed some filling stations due to problems with fuel delivery. Across the UK, people spent a fifth (20 [...]
Hiring spree: Domino’s to create 8,000 new jobs as sales soar October 14, 2021 Domino’s is expanding its team in time for Christmas and has announced 8,000 new driver roles on the back of strong third quarter trading results. In a statement, Domino’s revealed that system sales had swelled to £375.8m in Q3 up 9.9 per cent like-for-like and taking the delivery company’s total earnings this year to date [...]
Sunak tells Brits not to worry: There will be a ‘good amount’ of Christmas presents October 14, 2021 Chancellor Rishi Sunak has told Brits not to worry about their Christmas presents this year, saying there will be a “good amount of presents available” even though supply chain issues continue to persist. Sunak was speaking after meeting with finance ministers from the G7 group of leading world economies to talk about the problem, with [...]
Long read: Untangling the shipping crisis will take more than a favourable wind October 14, 2021 IT IS EASY to forget how lucky we are in the UK. A rapid vaccine rollout has almost entirely banished the spectre of Covid-19 from the country’s economy. But, there are signs the pandemic is still stopping the world from getting back to normal – none more so than in the global shipping industry.Covid-19 continues [...]
Chicken boss warns shoppers face price hikes in ‘different world’ October 13, 2021 Food prices are set to rise 10 per cent thanks to uncontrollable inflation, the boss of Britain’s biggest chicken firm has warned. Ranjit Boparan, founder of 2 Sisters Food Group, told The Telegraph that consumers were facing a “great food reset,” amid supply chain disruptions. Food companies will have no choice but to pass costs [...]
UK urges people not to start panic buying Christmas gifts October 13, 2021 A day after Washington warned U.S. shoppers they might not get all they want this Christmas, the UK has urged people not to start panic buying gifts. Watch the full report.
Government labelled ‘incompetent’ as only 20 visas are issued to foreign truckers October 13, 2021 A senior minister disclosed today that only about 20 foreign lorry drivers have been granted temporary visas to work in the UK. It was announced last month that the Government would issue 5,000 temporary visas to HGV drivers and a further 5,500 to poultry workers in an attempt to prevent shortages in the run up [...]
The Christmas ship may have sailed warn delivery experts post Felixstowe bottleneck October 13, 2021 The Christmas ship might have already sailed, as Felixstowe’s massive bottleneck is causing container ships loaded with Christmas gifts to be redirected towards EU ports. According to home delivery company Parcelhero, the next two weeks will be critical for retailers as shipping companies are doing everything they can to allow warehouses to be fully-stocked in [...]