All Economy articles – Page 31
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NewsCity snapshot: Retail sales drop again to record low
UK retail sales have yet again broken another record in April, dropping almost 20% in value throughout the month.
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NewsCoronavirus crunch pushes raft of FTSE retailers to profit warnings
FTSE retailers issued 38 profit warnings in the first three months of the year, exceeding the 32 recorded in the sector for the whole of 2019
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NewsCity snapshot: Lockdown wipes almost all April footfall
UK streets were left silent in April under the government-imposed lockdown to prevent the spread of coronavirus
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NewsSupermarket price inflation spikes under lockdown as retailers halt deals
The Grocer Price Index recorded year-on-year inflation of 2% during the first full month of the UK lockdown in April
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NewsCoronavirus: SMEs fear end to furlough scheme will lead to redundancies
Emma Loisel, co-founder and chair at Volcano Coffee Works, wrote an open letter to Chancellor Rishi Sunak this week urging a change in the rules of the furlough scheme
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NewsCity snapshot: Retail footfall suffers sharpest drop ever as shops shut
Last months figures showed the number of visits to shops plunged 80%, almost double the 41.3% reduction experienced in March
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NewsFood & drink SMEs among thousands to submit Bounce Back loan applications
Companies banking with NatWest were among those struggling to secure confirmation of the loans, despite the government promising a no-fuss process
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NewsTesco’s coronavirus sales growth outstrips discounters as convenience sales soar
The UK’s largest supermarket Tesco grew sales at a faster rate than the German discounters in April, while convenience sales continue to boom
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NewsCoronavirus: SMEs welcome ‘lifeline’ of government-backed ‘bounce back’ loans
The new micro loan scheme comes as previous emergency measures for SMEs received harsh criticism for letting many “slip through the cracks”
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NewsGrocery sales growth slows in April
The past 12 weeks have continued to see strong grocery sales growth of 9.1%, according to Kantar, but sales growth slowed down in the past four weeks.
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Analysis & FeaturesAre supermarkets doing enough to keep the prices of groceries down?
Amid soaring demand, supermarkets have been careful not to increase prices, but with promos axed to stabilise supply the effect is inflationary
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NewsFmcg brands worry government furlough scheme delays will hit cashflow
The government has said money will take six days to reach firms, but many are sceptical
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NewsCoronavirus: UK government announces £1.25bn package for ‘innovative firms’
The new scheme includes a £500m investment fund made up of cash from both the government and the private sector
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NewsGovernment considers calls to underwrite trade credit insurance
The government is considering requests from food and drink leaders and the wider insurance industry to underwrite trade credit insurance
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NewsConsumer spending on essential items soared in March, says Barclaycard
Supermarket purchases drove much of the 11.6% growth on essential spending, with the category increasing by 21.3%
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NewsCity snapshot: UK retail sales plummet as coronavirus crisis unfolds
UK retail sales have plunged sharply in March as the coronavirus crisis and resulting nationwide lockdown led to the worst drop on record. Plus, PZ Cussons warns of “significant” coronavirus impact as crisis boosts soap and hand wash sales but hits beauty division and all the rest of the latest news from the City.
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NewsCity snapshot: Treasury to increase loans available under government-backed scheme
The Chancellor is preparing to double the amount of interest-free cash available to larger companies hammered by the effects of the coronavirus pandemic
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NewsSMEs welcome government loan scheme revamp but warn of unanswered issues
Food & drink SMEs have welcomed the revamp to the government emergency loan scheme, but warned there remain issues to be ironed out
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NewsCity snapshot: Chancellor revamps coronavirus emergency loans programme
The Chancellor Rishi Sunak has announced a revamp of the government’s emergency loan measures to struggling SMEs by relaxing the criteria for eligible businesses and raising the limit on the size of companies that can apply. Plus, ABF leadership take pay cuts and all the rest of the latest news from the City.
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NewsCoronavirus demand surge supercharges grocery industry growth
The UK grocery industry experienced its strongest four-week period on record in March, with overall industry growth of more than 20% and the sales increase of established players rivalling that of the discounters