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The Latest Breaking News from The British Retail Consortium

Consumer expectations for economy plunge to ‘new low’ amid job cuts

Hopes for the state of the economy over the next three months have dampened since December, according to a consumer confidence survey

The Independent UK

Consumer expectations for economy plunge to ‘new low’

A survey found expectations for the state of the economy over the next three months have worsened to minus 34, down from minus 27 in December.

Evening Standard

PM insists Reeves in post for ‘many years’ amid calls to rule out tax hikes

Conservative Party leader Kemi Badenoch asked Sir Keir Starmer if the country could ‘afford four more years of his terrible judgments’.

Evening Standard

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Two thirds of retailers to hike prices because of Rachel Reeves’ budget, industry warns

The British Retail Consortium said 67 per cent of the finance bosses they asked said they would raise prices

The Independent UK

Retailers warn of higher prices in 2025 and urge ministers to ease tax burden

Companies grappling with higher employment costs say price of food may rise by 4.2% in latter half of year

The Guardian - 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

Nearly 170,000 UK shop workers lost their jobs in 2024

Collapse of chains such as Homebase and Body Shop contributed to big rise, and another tough year is on the cards

The Guardian - UK

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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

UK growth revised down to zero; firms warn economy is heading for ‘worst of all worlds’ – as it happened

UK GDP flatlined in the July-September quarter, ONS reports, as companies warn October budget has hurt economy too

The Guardian - 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

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

‘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

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International Business Times 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.

The Guardian - 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

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

International Business Times 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.

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The Guardian - 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

International Business Times 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.

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

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