Thames Water woes expose wretched debt-plagued industry July 3, 2023 Thames Water is in serious trouble, but its problems reflect challenges with debt and sewage spills across the industry.
Sainsbury’s results: Will efforts to keep prices low pay off? July 3, 2023 Investors will turn their focus to Sainsbury’s first quarter trading update on Tuesday to see how shoppers are reacting to the impact of food inflation amid the cost of living crisis. The supermarket is expected to post a jump in revenues driven by higher grocery sales over the quarter to June. Analysts at Shore and [...]
Tesco slashes price of 500 essentials including fruit and veg, rice and tuna to help shoppers with cost of living June 30, 2023 Tesco has cut the price of more than 500 household essentials, in a boost to shoppers after the surge in the cost of living. The supermarket giant confirmed reductions in the price of key products such as fruit and vegetables, rice and tuna, as retailers have faced growing scrutiny over higher food costs. Latest official [...]
British businesses most optimistic in over a year but London firms sweat over inflation June 30, 2023 British business optimism has climbed to its highest level in over a year despite consumers retreating in response to rising prices and the Bank of England’s aggressive interest rate rises, a survey out today reveals. UK business confidence climbed nine points to 37 per cent in June, taking it up to its highest level since [...]
Bank of England chief economist Huw Pill admits forecasts have struggled to explain inflation shock June 29, 2023 Any central banker would have struggled to accurately forecast the impact of the series of shocks that have hit the UK economy, the Bank of England’s chief economist claimed today. Huw Pill, a former Goldman Sachs banker, in response to a letter from the Treasury select committee today hit back at critics who have slammed [...]
Hunt unveils measures to ensure customers get fair pricing June 28, 2023 Chancellor Jeremy Hunt has drafted an action plan with authorities to ensure customers are being facing fair prices during the cost of living crisis. Hunt sat down with the Competition and Markets Authority (CMA), and the regulators for the energy, water and communications sectors, early on Wednesday 28 June at 11 Downing Street. He was [...]
Budget Britain: Inflation forces families to trade down and opt for staycations June 28, 2023 Britons are trading down to cheaper products and are opting to holiday at home in response to rampant inflation and higher interest rates squeezing their budgets, new research out today shows. Some 40 per cent of families have been buying more value or own brand products in 2023, according to analysis from consultancy KPMG. The [...]
Teasing supermarket execs won’t stop inflation, it’s suppliers we need to grill June 28, 2023 Supermarket bosses are an easy shot, but its suppliers making profits which would dwarf those of Tesco or Sainsbury's.
Supermarkets behaving badly: Asda and Morrisons bosses back ‘transparent’ fuel pricing model June 27, 2023 Supermarkets bosses have been grilled by MPs on prices at the pump and agreed to consider entering into a fuel model which would give more transparency. The government has been mulling a scheme whereby petrol stations would have to share live prices in efforts to bring more price transparency for drivers – a similar system [...]
Bank of England’s Tenreyro warns more interest rate hikes risks pushing inflation below target June 27, 2023 A Bank of England official has said raising interest rates too aggressively could push inflation below the central bank’s target over the coming years. Departing monetary policy committee (MPC) member and professor at the London School of Economics Silvana Tenreyro today said tightening borrowing costs in an economy that is undergoing a severe external energy [...]