Britain’s biggest supermarket chain Tesco apologised to customers for empty shelves where the products would normally be, saying it would not pass on “unjustifiable price increases”.

US pharmacy giant Walgreens has dropped plans to sell Boots, saying buyers were unable to raise enough funds due to instability in financial markets. Walgreens said it had various offers for the pharmacy business after it put Boots up for sale...

Ofgem has published plans to cut baseline annual rates of return to 4.75 per cent for the five years from April 2023, down from about 6.8 per cent under the current regime. This means the companies that own the UK’s local electricity distribution...

Britain’s small businesses will hire thousands of people over the next year, even amid soaring inflation and rising interest rates. According to reports, private firms with revenue of less than £250 million, will create more than 6,000 jobs...

The State Bank of India (UK) has raised the interest rates on its range of products after the announcement by the Bank of England to increase the base rate. The rate of increase is from 35bps to 100bps. The new rates are effective from 22 June...

The Lloyds Bank has warned its customers to stay alert over rise in purchase scams, notably through fake adverts. As per the Lloyds’ data, reports of purchase scams which involve shoes and trainers have more than doubled so far this year.

Mastercard and Visa process about 99 per cent of debit and credit card payments in the UK, by volume and value.

Amid mounting concern about wage awards fuelling inflation, ministers have been given the message that there will be “no new money” for pay rises, meaning that any extra funding will have to be found through spending cuts or underspending.

An industry survey showed that British economy is showing signs of thwarting as high inflection hits new orders and businesses report levels of concern that normally signal a recession. Meanwhile, the S&P Global Purchasing Manger Index (PMI),...