Lloyds to let customers use Halifax and BoS branches, raising job cut fears
Account holders at the group’s three brands will be able to use any of their locations, but unions fear site closures Lloyds Banking Group will allow customers to use any of its Halifax, Bank of Scotland and Lloyds branches as part of a shake-up that has sparked fears of job cuts and site closures, weeks…
Greggs sales growth slows amid ‘lower consumer confidence’
Bakery chain says fewer shoppers on high streets over Christmas also to blame in ‘more challenging market’ Greggs, the UK’s biggest bakery chain, has reported slowing sales growth over the festive period, blaming weakening consumer confidence and fewer shoppers on high streets. The company said its total sales rose by 11.3% to just over £2bn…
M&S reports strong festive sales but says UK firms will take hit from tax rises
Sales at food halls rise 8.9% over Christmas, with 23 December its biggest ever day of food trading Marks & Spencer has hailed a “good Christmas” with strong sales of food but warned that British businesses face higher costs from the government’s tax increases. The UK retailer said sales at established food halls rose 8.9%,…
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 UK retailers have urged ministers to ease their tax burden as they said that the cost of food and other items will rise sharply throughout the year as companies grapple with higher employment costs. Food prices…
Royal Mail to celebrate The Vicar of Dibley with 12 special stamps
‘Classic moments’ from BBC comedy series to feature on range of first- and second-class stamps The Royal Mail is issuing 12 special stamps to celebrate the 1990s BBC comedy series The Vicar of Dibley. Eight stamps depict memorable scenes from the sitcom, including a guest appearance by former ballerina Dame Darcey Bussell, while four stamps…
Rachel Reeves heads to China to build bridges, but a new golden era of relations is impossible
Seeking business partners post-Brexit is sound policy, but even in these darker geopolitical times the UK will ultimately side with the US Rachel Reeves will fly with a delegation of City grandees to China this week as Labour seeks closer economic links with Beijing as part of its quest for growth. With the outlook increasingly…
Permanent job vacancies in UK shrink at fastest pace for four years
Job market data deepens sense of gloom enveloping UK plc as analysts plan close look at effects of NICs rise on hiring Vacancies for permanent jobs in the UK declined at their fastest pace for four years last month, according to a new survey that adds to the gloomy economic mood. Amid febrile markets and…
Two power station owners to get more than £12m for three hours of electricity
Uniper and a subsidiary of Vitol able to charge 50 times recent market price to ensure supply during evening peak Two gas power station owners will be paid more than £12m to supply just three hours of electricity on Wednesday evening after freezing weather led to some of the highest market prices since the energy…
UK long-term borrowing costs at highest since 1998 amid fears over weak growth
Yield rises above peak reached when Liz Truss’s mini-budget in 2022 caused turmoil in markets The UK government’s long-term borrowing costs have reached the highest level since 1998 amid investor concerns over Britain’s sluggish growth prospects and stubbornly high inflation. The yield – in effect the interest rate – on UK 30-year government debt rose…