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The Latest Breaking News from The British Retail Consortium

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

Global trade tensions and cyber attacks ‘threaten UK economy’; UK Black Friday spending ‘up 12%’ – as it happened

Bank of England says global risks remain high, and the outlook has become more uncertain and riskier

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

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‘Amazon tax’ to save Britain’s high streets under consideration by Reeves

The British Retail Consortium, the industry’s trade body, welcomed the idea of reform but warned against the idea of simply punishing online players

The Independent 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 Shoppers Furious Dolmio Shrinked 500g Jars By 10% While Maintaining Same Price

Dolmio is facing backlash from customers after shrinking its sauce jars, including Bolognese, by a third without lowering prices.

International Business Times UK

European Central Bank ready to cut interest rates; UK retail sales jump as inflation slows – business live

ECB policymakers indicates June rate cut is a done deal, while IT glitch which prevented some NatWest customers accessing accounts has been fixed

The Guardian - UK

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UK retailers given hope of ‘green shoots of recovery’ after Easter pickup

Sector enjoyed best month in more than two years in March, consumer spending report shows

The Guardian - UK

Retail Businesses Urge Government To Tackle Increasing 50% Theft And Abuse Cases

Retail employees have called on the government to implement tougher measures against attackers after theft and abuse incidents have increased by 50 per cent.

International Business Times UK

Bank of England’s Dhingra warns of ‘downside risks’ for UK economy; Adam Neumann ‘seeking to buy WeWork out of bankruptcy’ – as it happened

Rolling coverage of the latest economic and financial news, as BoE dove pushes for early cuts to UK interest rates to support economy

The Guardian - UK

IMF warns Hunt against tax cuts; eurozone avoids recession – as it happened

Rolling coverage of the latest economic and financial news, as the eurozone stagnates in the final quarter of 2023

The Guardian - UK

Which UK High Street Shops Will Close In 2024?

With some companies closing to prioritise expansion elsewhere and others shutting their stores due to bankruptcy, the UK can expect to see a mass increase of empty store-fronts.

International Business Times UK

UK Retail Landscape Faces Challenges as December 2023 Sales Slow Down

The total UK retail sales for the month showed a growth of 1.7 per cent, marking a substantial decline from the 6.9 per cent recorded in December 2022.

International Business Times UK

UK Grocery Inflation Stays At 4.3% Despite Decline in Food Prices

The introduction of new border checks on EU goods in April entering the UK could lead to further spikes in UK grocery inflation.

International Business Times UK

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The Guardian - UK

Retailers want rest of UK to follow Scotland’s example over law protecting shop staff

Holyrood imposed law creating a statutory offence of assaulting, threatening or abuse of retail workers

The Guardian - UK

UK recession fears grow as shoppers cut spending ‘to save for Christmas’

Drop in retail sales also because of consumer worries over high energy bills and mortgages, surveys suggest

The Conversation

Shop theft has been building for years – here's how to tackle retail crime and keep workers safe

Retail giants like Boots, Tesco and Primark are pushing for Home Office action after violent incidents and abuse against shop staff almost doubled since the COVID pandemic. Retail crime cost UK shops £1.76 billion in the year to April 2023, according to the British Retail Consortium.

The Guardian - UK

London Underground strikes this week called off; pound hits six-month low against dollar – as it happened

RMT says planned strike action by over 3,000 members at London tube stations on Wednesday 4th and Friday 6th October will not go ahead.

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The Guardian - UK

UK food prices fall in September for first time in two years, figures show

Average food basket down by 0.1% amid fierce supermarket competition, says the British Retail Consortium

The Guardian - UK

UK food prices as big a concern for consumers as energy bills, Which? finds

Pace of food inflation continued to slow in August, data shows, but trust in supermarket sector at decade-low

The Guardian - UK

Thames Water CEO quits in shock departure; UK supermarkets deny profiteering; Brexit ‘fuelling inflation’ – as it happened

Thames Water has announced that Sarah Bentley has resigned as chief executive of the company.

The Independent UK

New Brexit checks will make food price inflation even worse, warns industry

Firms will have to pass on extra costs of red tape, warns Fresh Produce Consortium

The Independent UK

Food inflation slows in May after April record, survey suggests

Food inflation fell to 15.4% in the year to May, according to a survey by the British Retail Consortium and Nielsen.

The National (Scotland)

UK Government slated for 'weak approach' to food price cap plans

THE UK Government has been slated for its “weak approach” to introducing a food price cap which would only involve a voluntary agreement with…

The Guardian - UK

SVB collapse was ‘fastest since Barings’, Bank of England says, in call for vigilance – as it happened

Treasury committee holds hearing on the sudden collapse of Silicon Valley Bank this month

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