Author: WTX Business Team

Prices of everyday grocery items soar The prices of some everyday grocery items such as pasta, tea, chips and cooking oil, according to new data – with vegetable oil soaring by 65% in a year. Overall the price of budget food items rose by 17% in the year to September, according to the Office for National Statistics (ONS). The figures come as inflation is at a 40-year high, with prices up 10.1% in a year. Food prices, energy bills and transport costs are the latest rise in living costs in September. The ONS found sharp rises in the prices of…

Industry associations for sectors from oil to agriculture in the US and Europe found resisting wildlife-friendly laws, say researchers Industry groups representing some of the world’s largest companies are “opposed to almost all major biodiversity-relevant policies” and are lobbying to block them, according to a new report. Researchers found that 89% of engagement by leading industry associations in Europe and the US is designed to delay, dilute and block progress on tackling the biodiversity crisis, which scientists say is as serious as the climate emergency. Just 5% of support was positive and the remaining 6% was mixed or neutral, according…

  Britain’s economy is still one of the world’s largest despite soaring inflation, looming recession and recent market turmoil. ​Britain’s economy is still one of the world’s largest despite soaring inflation, looming recession and recent market turmoil. 

Sterling stood at $1.136 against the dollar on Monday morning Sterling stood at $1.136 against the dollar on Monday morning

The public is planning for a smaller Christmas this year amid the cost of living crisis. A BBC survey uncovered concerns about the rising prices.

The pound has moved higher after the government announced a series of U-turns.

Official data shows the UK economy unexpectedly shrank in August for the first time in two months. 

The Bank of England has once again been forced to step in again to boost its emergency bond-buying scheme.

New measures have been announced by the Bank of England aimed at ensuring an “orderly end” to its emergency bond-buying scheme.

Adidas has said it is reviewing its Yeezy partnership with American rapper Kanye West just days after he stirred up controversy with a “White Lives Matter” T-shirt design at Paris Fashion Week.

Elon Musk has made a surprising u-turn on whether he will buy Twitter. The billionaire had initially dropped out of the deal to buy the social media site, but it seems he’s not willing to proceed with the takeover.

A food waste charity has told the BBC that it has seen a drop of around 200 tonnes in supermarket surplus donations every month this summer.

A government support scheme, set to be announced later, could help businesses cut their energy bills by a third.

A strike on Friday by French air traffic control will disrupt travel for tens of thousands of passengers.

The Guardian says The John Lewis Partnership slumped to a first half loss of £99m driven by soaring inflation, as the department store group warned a “uniquely uncertain” outlook in the run-up to Christmas would put the staff annual bonus at risk this year.

The Guardian says Liz Truss will finally present her long-awaited plans to tackle soaring energy bills on Thursday, with some Tory MPs conceding this is already a make-or-break moment for her entire premiership.

BBC News says The government has announced how all households in England, Scotland and Wales will receive £400 to help with rising fuel bills this autumn.

There is set to be a strike on 30 July over a pay dispute, union Aslef has announced.

Aljazeera says MACAU has locked down one of the city’s most famous hotels, the Grand Lisboa, after more than a dozen COVID-19 cases were found there on Tuesday.

The Guardian says UK INFLATION has increased to 9.1%, the highest rate in 40 years amid record prices for petrol and the soaring cost of food.

TRT World says the US Federal Reserve has raised its benchmark interest rate by 75 basis points, marking its biggest rate hike in 28 years.

The Guardian says low-paid health and care workers are calling in sick because they cannot afford to fill their cars with petrol to travel to work, the head of the UK’s largest trade union has warned.

Daily Express says Martin Lewis has explained how people on benefits could get a bonus of up to £1,200 on their savings through a special account.

Daily Mirror says Customers of 10 banks including Barclays, Halifax, Lloyds, Nationwide and Monzo have been locked out of their bank accounts this morning.

Sky News says shop prices grew at the fastest rate in more than a decade during May, spurred on by rapidly-accelerating food inflation.