The average price of a litre of diesel has hit a high of just over £1.80 a litre – and could rise even further if the EU ban on Russian oil goes ahead. The RAC reported that the price a litre in the UK has outstripped the previous record of £1.79, set in March after […]
Tesco is to hand pig farmers £6.6m in additional support, taking the total to £10m, after warnings that a slew of producers could go out of business. The UK’s biggest supermarket said farmers would get £6.6m until August on top of £3.4m handed out since March under an “accelerated and enhanced payment plan”, after being […]
Home improvement business Screwfix is to create 800 retail jobs by January as part of plans to open 80 new shops across the UK and Ireland. The retailer’s sales were boosted during the pandemic as locked-down Britons hired tradespeople to spruce up their properties and gardens. Screwfix and B&Q owner Kingfisher enjoyed profits of more […]
Greggs has said it has a “good” start to 2022 after launching 49 new shops in the first 19 weeks of the year. The sausage roll seller said its sales had increased 27.4 per cent compared to the same time last, from £378m in the first 19 weeks of 2021 to £495m this year. The […]
Lifestyle brand Made.com lowered its expectations for the rest of 2022, with both gross sales and revenue expected to drop 15 per cent and seven per cent respectively. These projected figures differ from the initial zero per cent and eight per cent expected in sales and revenue this year. Although MADE’s performance has remained strong […]
HMRC collected a record £157.2bn from VAT bills in in the last tax year, a 55 per cent jump on the £101bn collected in 2020/21, after businesses were forced to make up for VAT payments they deferred during the pandemic. Accountants have said that HMRC’s VAT income has risen sharply after the rate of VAT paid […]
The chairman of NatWest bank has argued that changes to the benefits system would be the most effective way for the government to help the poorest families struggling to cope with the cost of living crisis, instead of cutting taxes that also give the wealthy a financial boost. Sir Howard Davies, a former deputy governor […]
Deliveroo has been accused of “seeking endorsement for exploitative practices” after signing a deal with the GMB union that does not ensure its couriers will be paid the legal minimum wage throughout their whole working day. The takeaway group has pledged to pay its 90,000 riders at least the minimum wage after costs but only […]
In a year in which all its rivals have reported record profits, Jaguar Land Rover has slumped to losses of £455 million largely due to a shortage of semiconductors. The loss also includes a write off of £43 million on its closed down operations in Russia because of sanctions over the Ukraine crisis. A year […]
The Bank of England will have to continue to raise interest rates to control inflation despite sluggish growth, a senior Bank of England official said. Sir Dave Ramsden, a member of the central bank’s monetary policy committee (MPC), said that dealing with the surge in prices was tricky in light of the gloomy outlook for […]