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The Latest Breaking News from BRC

New Budget blow for Starmer as retailers warn of price hikes and job cuts

Retailers will be particularly hard hit by chancellor Rachel Reeves’s planned hike to employers’ national insurance

The Independent UK

Biden blocks Nippon Steel’s $15bn bid for US Steel over national security fears – as it happened

Rolling coverage of the latest economic and financial news as the US president uses his final days in office to block a $15bn bid for US Steel

The Guardian - UK

‘Drab’ December caps disappointing year for retailers

Shopper visits over the Golden Quarter were down 2.5% on the same period in 2023, according to the BRC-Sensormatic Footfall Monitor.

The Independent UK

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Autosport's top 10 club racing rivalries of 2024

There are a plethora of championship battles every year in the world of club motorsport, yet some are remembered much more than others for a variety of reasons.

Autosport

Christmas ‘disastrous’ for retailers as households battle ongoing cost pressures

Retail footfall was 11.4% down on last year over the final full week before Christmas, according to Rendle Intelligence and Insights.

The Independent UK

Cash use increased for the second year in a row in 2023, say retailers

Cash accounted for nearly a fifth of transactions in 2023, with people making smaller purchases, the British Retail Consortium said.

Evening Standard

Consumer confidence ‘weak’ as Christmas approaches

Confidence has been offset by declining expectations of the wider economy, according to the BRC-Opinium Consumer Sentiment Monitor.

Evening Standard

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17-month run of falling shop inflation ends amid warnings of price rises

Overall shop prices are now 0.6% cheaper than a year ago, but have risen from October’s 0.8% cheaper, according to the BRC and NielsenIQ.

The Independent UK

UK retailers warn Reeves of £7bn hit from budget tax rises

Increase in national insurance contributions and national living wage will add to costs, says BRC

The Guardian - UK

UK retail sales growth slumps as shoppers wait for Black Friday deals

Later October half-term break and budget uncertainty also led to lower spending, says industry

The Guardian - UK

Retailers suffer ‘disappointing’ October amid pre-Budget jitters

Total UK retail sales were up 0.6% year-on-year last month against a 2.6% increase last October, according to the BRC-KPMG Retail Sales Monitor.

Evening Standard

Lower shop prices boost prospect of Bank of England rate cut

British Retail Consortium says prices falling at fastest rate in three years and are 0.8% lower than a year ago

The Guardian - UK

Shop prices ease for third month amid warnings of potential volatility

Overall prices are now 0.8% cheaper than a year ago, according to the BRC-NielsenIQ Shop Price Index.

Evening Standard

Rachel Reeves must keep promise to ease business rates burden, say retailers

Plea comes as analysis warns of £2.7bn tax hike mainly affecting smaller retail, leisure and hospitality firms

The Guardian - UK

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The Guardian - UK

Oasis ticket sales push UK non-essential spending to highest level this year

Retail sales show strongest growth in six months as shoppers buy clothes and computers for new academic year

The Guardian - UK

More than 70 retailers urge Reeves to make 20% cut to business rates

In letter to chancellor, Tesco and M&S are among firms warning tax could result in widespread store closures

The Guardian - UK

UK shop prices fall at fastest rate since 2021 despite rising fresh food inflation

Overall shop price deflation was 0.6% in September compared with 0.3% in August, says trade body

The Guardian - UK

UK retail sales pick up as shoppers seek picnic and barbecue food

Sales of clothing and gardening products also leap but furniture and household appliances continue slide

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Autosport

What to watch on international rallying's return to the UK

Ceredigion could be crucial in deciding the outcome of this year’s European Rally Championship. The top three in the standings head to Wales for the penultimate round split by 24 points, with Hyundai driver and reigning champion Hayden Paddon holding a 14-point lead over Skoda driver Mathieu Franceschi. Poland’s Miko…

The Guardian - UK

UK shop prices fall year on year for first time since cost of living crisis began

Prices down 0.3% in first week of August as food inflation eases and retailers attempt to shift unsold summer stock

The Guardian - UK

August design news: puppets, a moveable monument and how to combat a heatwave

Dundee design festival, fashion using sustainable textiles and cars that should exist

The Guardian - UK

Poor weather and cost of living crisis drive UK summer spending down

Figures show weak consumer demand persisted in June and July as Bank of England ponders interest rate decision

The Guardian - UK

Retail sales dip in June as UK’s cooler weather and cost of living bite

Clothes, shoes, DIY and gardening perform poorly compared with spending surge during last year’s heatwave

The Guardian - UK

Next UK government poised to benefit from fall in inflation and fuel prices

Pressure on household finances eases as shop price rises slow to 0.2% and petrol costs drop for second month

The Guardian - UK

Wet weather woes cause damp start to spring for retailers and restaurants

Consumer caution over high interest rates and energy bills adds to bleak start to the year for sector

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