RAC: Tesco, Sainsbury’s, Asda and Morrisons have more than doubled fuel margins since Ukraine war July 22, 2023 Supermarkets have more than doubled their margins on fuel since the Ukraine war began, according to research from motoring firm the RAC. The ‘big four’ supermarkets – Tesco, Sainsbury’s, Asda and Morrisons – have seen the profits they make per litre of diesel and petrol rise from 4.7p to 10p since the Russian invasion started in [...]
Rail passengers face disruption TODAY as unions strike and walk out in overtime snub July 22, 2023 Rail passengers face fresh travel misery on Saturday because of a strike by thousands of workers in a long-running dispute over pay, jobs and conditions. The walkout by members of the Rail, Maritime and Transport union will badly disrupt services, with some parts of the country having no trains all day. Services are also being [...]
OnlyFans to ‘OilyFans’: Billboards show BP chief topless after earning £10m July 21, 2023 A set of billboards for the adult site OnlyFans has been rebranded by environmental activists to show the chief executive of BP shirtless. Following complaints to the Advertising Standards Authority (ASA), Global Witness bought out three advertising slots around London to comment on the pay package of Bernard Looney, whose earnings went from £4.5 million [...]
FTSE 100 close: London markets measured after strong week July 21, 2023 London markets stayed flat throughout Friday after a strong week, closing slightly higher and extending earlier gains caused by lower than expected inflation. The bluechip FTSE 100 was measured throughout the day and closed in the green at 7,658.53, while the midcap FTSE 250, which is more aligned with the health of the UK economy, [...]
Summer deals help bump retail sales as growth falls at slowest rate in a year July 21, 2023 Retail sales grew by 0.7 per cent in June 2023 with increases across all the main sectors, as warmer weather and a greater selection increased consumer spending. During the month, non-food stores sales volumes rose slightly by 1.0 per cent in June 2023, following a fall of 0.5 per cent in May 2023, according to [...]
UK borrowing falls as debt pile revised to under 100 per cent of economy July 21, 2023 The Government’s debt pile was bigger than the country’s economic output in June – the first time this has happened for more than 60 years, official data shows. Public sector net borrowing hit £18.5 billion last month, down from £20 billion a month earlier, the Office for National Statistics (ONS) said. It pushed the total [...]
Uxbridge by-election: Tories hold Boris Johnson’s old seat as Labour blame Sadiq Khan’s ULEZ expansion July 21, 2023 The Conservatives have held onto Boris Johnson’s former seat of Uxbridge and South Ruislip as Labour blame Sadiq Khan’s ULEZ expansion policy for the loss. Tory councillor and former postman Steve Tuckwell won the west London constituency with 13,965 votes – beating Labour’s Danny Beales, on 13,470. Sir Keir Starmer’s party had hoped to overturn [...]
Anti-strikes bill becomes law as unions vow to fight it ‘tooth and nail’ July 20, 2023 A law has been passed to curb the effect strikes can have on some key services. The Strikes (Minimum Service Levels) Act has been granted Royal Assent, having cleared both Houses of Parliament after a protracted battle over its impact. The law will allow ministers to impose minimum levels of service during industrial action by [...]
Dunelm revenues reach £1.63bn as price cuts lure customers in July 20, 2023 Dunelm reported a revenue rise of six per cent over the past year, with the homeware retailer predicting profits to be “slightly ahead” of current market expectations. The Leicester born business said revenues reached £1.63bn in the 52 weeks to July up from £1.55bn in the same period last year. Sales growth declined -8.3 per [...]
IPA Bellwether: UK businesses boost sales promotions to record levels but pessimism lingers July 20, 2023 UK firms have ramped up sales promotions to an all-time high, leading to a growth in overall marketing budgets, according to the second-quarter IPA Bellwether Report released today. The report, which tracks marketing trends, revealed that sales promotions budgets have reached their highest level in the 23-year history of the survey, as more businesses increased [...]