Higher prices offset a drop in the number of items per shop at Ocado’s retail joint venture with Marks & Spencer. Ocado Retail reported a 16.3 per cent rise in revenue to £1.5 billion in the six months to June 24, driven by improved marketing efforts and a broader range of M&S products. Although the…
Key moments Rise in inflation to 3.6% lessens the odds of a rate cut Sign up for our daily business newsletter here Inflation hits 16-month high The rate of UK inflation rose to a 16-month high of 3.6 per cent in June, official figures showed. The data from the Office for National Statistics is above…
President Macron has concluded his remarks by telling the UK and France to work “hand in hand” to overcome the challenges of our times. Addressing MPs and peers, Macron said he wanted to “renew the French people’s message of friendship and fraternity” and picked out King Charles for praise for his love of France. He…
The bosses of UK statistics bodies are back in front of MPs for another grilling on the crisis at the Office for National Statistics this morning. At a bruising encounter last week Simon Hoare, the Conservative chairman of the public administration and constitutional affairs select committee, said that Sir Ian Diamond, the former ONS boss,…
The FTSE 100 nosed back above 8,800 points this morning, gilt yields fell and the pound recovered some of its losses from yesterday’s flash sell-off. London’s premier index was up 33 points in morning trading, led by a 2.6 per cent rebound for Convatec, the wound-care specialist whose core US market has been rattled by…
Tesla reported a sharper-than-expected fall in second-quarter deliveries, as intense competition and a backlash against Elon Musk’s political activities hit global demand for its aging electric-vehicle lineup. Tesla said it delivered 384,122 vehicles globally in the second quarter, down 13.5 per cent from 443,956 units a year ago. Analysts expected Tesla to report deliveries of…
“It was a good allround performance,” he said. “The first half was a bit tough, heavily contested, back and forth but we stayed consistent. As a team today we just wanted to be better and I thought we were a little bit. “We need to be better rugby players, sharper more accurate. We broke the…
The government is expected to push ahead with a contentious plan to limit the amount of money that savers can put into cash Isas each year as part of efforts to revive Britain’s troubled stock market, Ben Martin writes. There has been speculation for months that Rachel Reeves, the chancellor, will reform the rules governing…
The Co-op will stop sourcing carrots from Israel and a number of other products from other “countries of concern” such as Russia. The supermarket chain said it would stop sourcing produce, where possible, from countries where there are “internationally recognised community-wide human rights abuses and violations of international law”. The 17 countries on its list…
President Trump is likely to have “already taken the decision to hit” Iran’s Fordo nuclear facility, according to Sir Niall Ferguson, the Milbank family senior fellow at the Hoover Institution, Stanford University, and a senior faculty fellow of the Belfer Center for Science and International Affairs at Harvard.Ferguson told The Times CEO Summit: “My Israeli…