Krispy Kreme plays down impact of UK rules on unhealthy foods May 16, 2023 The boss of Krispy Kreme doughnuts has shrugged off the impact of new UK regulations on unhealthy food in supermarkets, insisting that consumers could simply be “trained” to look elsewhere in shops for their sweet treats. Major retailers have been banned from placing high fat, sugar or salt items near prominent store locations such as [...]
The Notebook: Susannah Streeter talks Brits’ love of brands, ready meals and Eurovision May 16, 2023 The notebook is a place for interesting people to say interesting things. Today, it’s the turn of former journalist and now Hargreaves Lansdown’s head of money and markets Susannah Streeter. Our love of big brands helps fuel inflation fires Brand power is the much-lauded virtue of the world’s most successful companies. But this much-admired characteristic is partly [...]
Tesco cuts price on 30 own brand products including pasta and oil as supermarket wars continue May 16, 2023 Tesco has announced another round of price cuts on its own-brand pasta and cooking oil as it sees deflation making its way through to cupboard essentials. The UK’s biggest supermarket is dropping the price of 30 products, with 15p off 500g and 1kg packs of own-brand pasta, 14p off its one litre vegetable oil and [...]
UK isn’t alone in this recession merry-go-round – just look at Europe May 16, 2023 It’s worth remembering that Britain isn’t some sort of pariah in the rich world that’s undergoing a tough economic slump, which is threatening to extend the growth slow down since the 2008 financial crisis. Europe’s major economies, led by Germany, its powerhouse, are also in the teeth of a slump. Numbers out last week revealed [...]
Some meat, yoghurt and vegetables have doubled in price in a year, new data shows May 16, 2023 Some meat, yoghurt and vegetables are among items that have doubled in price compared to a year ago, according to new figures from consumer group Which? The group urged Prime Minister Rishi Sunak to intervene on behalf of struggling consumers as its latest data shows food inflation remaining at “shockingly high levels”. The figures come ahead of Tuesday’s [...]
The Notebook: Victoria Scholar on Big Tech’s recovery, soaring sterling and luxury goods booming in China May 16, 2023 Where the City’s movers and shakers get a few things off their chest. Today, it’s Interactive Investor’s Victoria Scholar. Big Tech looks to be back in Vogue BIG Tech suffered painful declines in 2022 with sky-high inflation and central banks scrambling to keep a lid on rising prices. Now with US inflation easing, and the [...]
British farmers to be given greater protections in future trade deals May 16, 2023 Farmers are to be given greater protections in future trade deals as part of a package of measures unveiled ahead of a No 10 food summit. Downing Street said the government’s initiatives, as well as putting greater emphasis on farmers’ interests during international trade negotiations, include reviewing supply chains to ensure producers are getting a [...]
‘Greedflation’ not to blame for UK price surge, former rate setter claims May 15, 2023 “Greedflation” is not to blame for prices surging in the UK and instead businesses are pushing up prices in response to soaring costs, a former Bank of England rate-setter claimed today. Michael Saunders, an ex-member of the monetary policy committee – the nine strong group that sets interest rates in Britain – and now senior [...]
EU top body lifts economic growth forecast saying Europe dodged dreaded recession May 15, 2023 The European Union’s executive body has raised its economic growth forecast, saying Europe has dodged a winter recession that was feared amid an energy crisis. The outlook for the 20 countries using the euro currency improved to growth of 1.1 per cent this year from 0.9 per cent in the previous predictions in February, the [...]
Hospitality: BoE interest rates hike could ‘significantly impact businesses’ May 11, 2023 The hospitality sector has expressed concerns that the Bank of England’s decision to raise interest rates could “significantly impact business viability,” as the interest rates on loans many pubs and restaurants took out to survive the pandemic are now set to rise. “Hospitality was the business sector most affected by the pandemic, with a large [...]