The FCA's Stablecoin Sprint concludes stablecoins are best suited for cross-border payments, especially in emerging markets, but face slower adoption in UK retail due to existing efficient payment systems.
An investigation revealed that major UK retailers like Amazon, Argos, and Currys advertised e-scooters for public road use, despite it being illegal for privately owned devices. Retailers updated ads after being contacted, but smaller sellers continue to promote them for commuting.
UK retail sales volumes rose 1.2% in May, exceeding analyst forecasts, driven by record hot weather boosting sales of fans and paddling pools, alongside strong online purchases and promotions. Supermarkets saw a slight decline.
UK retail sales volume rose 1.2% in May, exceeding analyst forecasts, due to record hot weather boosting sales of fans and pools, strong online performance, and promotions. Supermarkets were the only sector to decline.
Major UK retailers like Currys, B&Q, Amazon, and Lidl met with the energy minister to discuss selling "balcony solar panels." These plug-in devices aim to help renters and flat dwellers generate their own electricity, cut bills, and reduce reliance on fossil fuels.
Australian pharmaceutical group Sigma Healthcare has dropped its $10bn pursuit of UK retail chain Boots, stating the deal would not meet its strategic and capital investment objectives. The withdrawal extends uncertainty for the 177-year-old chain, which was put up for sale in 2022. Sigma shares rose 6% on the news.
Nine in 10 rural UK retailers have been victims of crime in the past year, with an average financial cost of £83,000 per business, according to NFU Mutual research. The findings highlight the significant impact of theft and shoplifting, even in remote areas.
UK retail sales volume fell 1.3% in April, the steepest monthly decline in a year, as motorists cut fuel purchases by over 10% after stocking up in March due to the Iran war. Excluding fuel, sales dropped 0.4%.
Taking on its US rival in Britain is expected to lead to ‘collateral damage’ for UK retailers“We’re here to shake up the UK e-commerce market,” says Matthew Nobbs, the UK boss of Joybuy which is spearheading a European charge by China’s version of Amazon.“I see our competitors as everyone,” he adds, reflecting the scale of ambition of the online retailer that sells home appliances, groceries, makeup and more. Continue reading...
Shoppers concerned about effect of Middle East conflict, as UK retailers say government running out of time to cut costsFour in five people are worried that the Iran war will make food more expensive, according to a new poll, as businesses warned the “window is closing” for ministers to cut energy costs for UK retailers.Research by Opinium found that 80% of people are worried about the rising price of groceries, which would come from retailers passing on cost increases to consumers, while 73% expect the conflict to push up prices of other products. Continue reading...
UK retail sales rose 0.7% in March, beating forecasts of 0.1%, driven by a 6.1% surge in fuel sales volumes as motorists panic-bought petrol and diesel amid the Iran conflict that pushed oil prices from $72.50 to $119.50 a barrel. Fuel sales value jumped 11.6%, the biggest monthly increase since November 2021. However, consumer confidence fell to -25 in April, the lowest since 2023, with the S&P Global PMI showing the biggest service sector cost jump since 1996.
Retail sales in Great Britain rose by 0.7% in March, driven by a 6.1% surge in fuel purchases as motorists reacted to price hikes caused by the conflict in the Middle East. Despite the boost, consumer confidence has dropped to its lowest level since 2023.
