UK economy will ‘flatline’ as stubborn inflation and a tight jobs market drag on growth June 8, 2023 Britain remains on course to dodge a recession this year but growth will "flatline" as stubborn inflation and a tight jobs market continue to drag on the economy, according to the latest forecast from the British Chambers of Commerce.
One more for the road: Pub group mounts further expansion plans June 7, 2023 City Pub Group has snapped up a total of 52 per cent of shares in Mosaic Pub and Dining Group – taking its portfolio of up market pubs to 52 sites across London, Wales and the South of England. The pub group, which owns the popular Chelsea haunt The Phene, first bought stakes in the [...]
UK economy: OECD upgrades forecasts but still predicts recession knife-edge June 7, 2023 The UK economy will continue to lag behind other countries in the group of seven (G7) advanced economies this year, despite improved growth projections, new analysis has shown. Only Germany, which fell into a recession over the start of the year and is set to stagnate throughout 2023, will perform worse than the UK. Analysis [...]
FTSE 100 close: London index retraces losses on softer pound June 6, 2023 London’s FTSE 100 retraced losses today, shaking off investor fears over the risk of the effects of a US recession rippling throughout the global economy. The capital’s premier index climbed 0.37 per cent to 7,628.11 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, jumped [...]
Exclusive: Tao Group to open its first UK venture at new Marylebone hotel June 6, 2023 Hakkasan owner Tao Group Hospitality will launch its first new UK restaurant at the new The BoTree hotel in Marylebone, which is set to open its doors this summer. The hospitality offering will include flagship restaurant Lavo, which will serve “coastal Italian fare” as well as a more casual dining option and bars. New York-based [...]
Cheap and cheerful: Poundland owner to open 550 new sites as inflation drives expansion June 6, 2023 Poundland owner Pepco has plans to roll out 550 more sites this year across the UK and Europe as its cheap and cheerful goods continue to perform well with customers amidst the cost of living crisis. In its interim results the value shop, which sells everything from groceries to clothes, posted a 22.8 per cent [...]
Primark owner buys up milk records-keeper in near-£50m deal June 6, 2023 Primark-owner ABF has bought National Milk Records, a key part of the milk industry, as it strengthens its agri-food business
Cost of weekly shop continues to rise as Brits opt for TV nights in June 6, 2023 Brits are continuing to fork out more on their weekly shop, with households spending 8.9 per cent more on groceries year on year, with the nation increasingly turning to takeaways and nights in front of the telly in efforts to cut down on spending costs. During May, consumer card spending rose just 3.6 per cent [...]
Explainer: What’s behind a potential price cap on essential food June 5, 2023 Now, it’s been so long it’s almost hard to remember when it started, but the price of pretty much everything has been going up in the UK for months on end. Food was always the most painful item area to go up in price – with the “eat or heat” tragic dichotomy predominating last winter. [...]
Retailers urge rethink on net zero ‘grocery tax’ as public blame Brexit for rising costs June 4, 2023 Top retailers have urged the government to rethink plans for green levies to fund the recycling of food packaging in a bid to avoid a further rise in spiralling food costs. The British Retail Consortium (BRC) has warned the scheme, dubbed the ‘net zero grocery tax’, could push up shopping bills by up to £4bn [...]