The pound has slumped to its lowest level in more than a month, as hopes fade that a Brexit deal will be struck (The Guardian). The pound sunk to its lowest level in more than a month against the dollar and euro yesterday, after an apparent breakdown in Brexit talks (The Telegraph, The Independent).
Four new directors have been appointed to bolster a turnaround plan at Marks & Spencer’s food business before its tie-up with Ocado. (The Times £)
The government has changed plans to overhaul Britain’s system for taxing imports in the event of a no-deal Brexit. It said that it had “listened carefully” to feedback from business and consumer groups since publishing the UK’s proposed tariff schedule in the spring and had struck a “balanced approach”. (The Times £)
Consumer confidence is at historically high levels across the world’s leading economies even as clouds gather over the global economic outlook, according to a newly-published data series (The Financial Times £). Consumer confidence has fallen ahead of the crucial Christmas trading period in a blow to the struggling High Street (The Daily Mail).
Productivity among the UK’s workforce has fallen at its fastest annual rate for five years, according to official figures (Sky News). Productivity in the UK fell at its fastest annual pace in five years in the April-to-June quarter, according to the Office for National Statistics (The BBC).
Sir John Kingman, the former Treasury mandarin who played a key role during the bailout of the banking system, is being lined up as the next chairman of Tesco Bank. (The Daily Mail)
US pizza titan Domino’s Pizza prides itself in its tech-savvy ways. Its early embrace of everything from a real-time order tracker to emoji text ordering has helped keep sales growth piping hot in the ultra-competitive fast-casual food space. But the rise of on-demand delivery services like Uber Eats, Grubhub, Postmates and DoorDash is threatening to crash Domino’s pizza party. (The Financial Times £)
Europeans have followed Brits and fallen in love with online shopping, writes The Telegraph. “As broadband penetration and credit card use rise across Europe to the levels seen in the UK these rates will continue to grow.” (The Telegraph)
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