Business

Retailers are putting up prices at the fastest rate since 1990 according to industry figures that add to evidence of a cost of living squeeze this winter. A CBI survey also suggested that sales have been boosted by consumers starting their Christmas shopping early because of fears over supply disruption. Clothing and department stores saw
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Consumers can expect a “scaled-back” Christmas this year as retailers reduce the range of products available to cope with supply chain pressures, MPs have been told. A lack of HGV drivers has strained supply chains and prompted fears of shortages on supermarket shelves this festive season. Shane Brennan, chief executive of the Cold Chain Federation,
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Online electricals retailer AO World has warned of poor availability of some products and slashed its sales outlook due to supply chain problems. Products such as gaming consoles and mobile phones – which are newer territory for AO than its traditional staples such as washing machines and fridge-freezers – were more likely to be affected.
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Bulb, Britain’s seventh-biggest energy supplier, is facing collapse within days amid eleventh-hour talks between the government and the company’s biggest secured creditor. Sky News has learnt that the company, which launched in 2015 and has amassed 1.7 million customers, is expected to appoint insolvency practitioners imminently. The precise timing remained unclear on Monday because of
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Hundreds of millions of pounds of taxpayers’ money is at increased risk due to a failure to conduct sufficient checks on the now-collapsed finance firm that David Cameron lobbied for, a committee of MPs has found. A a new report by the House of Commons’ Public Accounts Committee (PAC), on the lessons to be learned
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Grant Shapps has said promises the government made to the North on rail are “absolutely being fulfilled” despite the eastern leg of HS2 to Leeds being scrapped and plans for Northern Powerhouse Rail being downgraded. The transport secretary told Sky News that the government’s new £96bn Integrated Rail Plan for the North and the Midlands
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Retail sales rose for the first time in six months during October, according to official figures, suggesting shoppers started their hunt for Christmas gifts early as pressure intensifies on household budgets. The Office for National Statistics (ONS) reported a 0.8% increase in volumes last month compared to September – with clothing among categories leading the
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The eastern leg of HS2 has been scrapped and plans for Northern Powerhouse Rail have been downgraded, Grant Shapps has confirmed. The transport secretary told MPs that a new £96bn Integrated Rail Plan for the north and the Midlands will instead deliver “faster” train journeys both earlier and cheaper than the original HS2 plans would
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