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Sluggish retail sales and credit card spending figures add to fears for British economyConsumers are cutting back on purchases amid growing pressure on the Bank of England to tame inflation.Retail sales increased 5.2% on a like-for-like basis in April …
Proposal to abolish indexation projected to cost up to $1.3bn as MPs and students say higher education loan scheme is ‘no longer fit for purpose’Get our morning and afternoon news emails, free app or daily news podcastMPs are urging the federal governm…
US investment bank believes inflationary pressures could force monetary policy committee’s handThe Bank of England could be forced to raise interest rates to 5% this summer, Goldman Sachs has warned, as Britain struggles to bring down the highest rates…
Chain’s CEO Simon Wolfson warns of ‘very challenging’ 2023 after signalling price rises of 7%The UK clothing and homeware retailer Next has reported a smaller than expected drop in sales in recent weeks but expects a bigger decline in the spring quarte…
Lib Dem leader calls for watchdog to probe reports of big retailers and food multinationals inflating markupsBritain’s biggest supermarkets are facing calls for the UK’s competition watchdog to investigate claims of profiteering amid the cost of living…
But CBA, the nation’s largest mortgage lender, thinks a rise to 3.85% is likely before cuts start in NovemberGet our morning and afternoon news emails, free app or daily news podcastAustralian borrowers face only an outside chance the Reserve Bank will…
People squeezed by inflation and demanding economic justice took to the streets of cities across Asia and Europe to mark May Day on Monday.
Institute of Directors index returns to levels last seen just before Russia’s invasion of Ukraine in 2022Business confidence has increased for the fifth month in a row, according to a regular health-check by bosses’ lobby group the Institute of Directo…
Retailer warns that growth may slow in coming months because of inflation and cost of living crisisPrimark has reported strong first-half sales growth helped by higher prices and a return of tourists and office workers across the UK’s cities, but said …
Full list of site closures in England and Scotland as Italian food chain blames inflation for decisionThe Italian restaurant chain Prezzo has said it plans to close 46 outlets in the UK, putting 810 jobs at risk, in a sign of the struggles for the casu…