Sweet relief: Ferrero’s Nutella biscuits remain VAT-free snack October 28, 2025 A Tax Tribunal ruled in favour of Ferrero UK, stating that their ‘Nutella Biscuits’ are zero-rated for VAT, in yet another food battle HMRC has had over the bizarre tax rules around food. The case centred on whether the ‘Nutella Biscuits’ were “biscuits… partly covered with chocolate or some product similar in taste and appearance” [...]
FTSE 100 live: HSBC takes profit hit, fresh food inflation rises October 28, 2025 Good morning from the City PM liveblog team. It may have been more than 15 years since he was convicted and four years since he died, but legendary fraudster Bernie Madoff is still making headlines. Yesterday it was the turn of British banking giant HSBC to unveil the scale of its exposure to business connected [...]
Fresh food inflation continues despite fall in overall shop prices October 28, 2025 The price of fresh food has continued to climb despite a broader softening in inflation at UK shops, according to new data. Fresh food inflation increased to 4.3 per cent year on year in October, against growth of 4.1 per cent in September and above the three-month average of 4.2 per cent, according to the [...]
Smuggling gangs likely to capitalise on tobacco bill, experts say October 27, 2025 As the Lords debate Labour’s tobacco and vapes Bill, experts have warned it could hand a major victory to the same organised criminal gangs behind illegal smuggling. Labour’s proposed Bill, which started the committee stage at the House of Lords on Monday, would create a generational ban on tobacco sales and implement stricter regulations on [...]
Supermarkets call on Chancellor to ‘bring inflation to heel’ October 27, 2025 Britain’s largest supermarkets have called on Rachel Reeves to exclude all shops from upcoming changes to to business rates, warning that any hikes to their input costs would further stoke food inflation that is already at over double the Bank of England’s target. In an open letter to the Chancellor, bosses from the UK’s nine [...]
JD Sports-owned Go Outdoors returns to profit but cuts more jobs October 27, 2025 Go Outdoors, the retailer owned by FTSE 100 giant JD Sports, returned to profit as it cut more jobs in the wake of Chancellor Rachel Reeves’ tax hikes, it has been revealed. The business said it has reduced its headcount as it “faced significant cost headwinds” including the increase in the National Living Wage, a [...]
Retail sales hit highest since 2022 in surprise boost for economy October 24, 2025 Retail sales jumped to their highest level since 2022 in September, boosted by sunny weather that drove a surge in demand for clothing. Fresh figures from the Office for National Statistics (ONS) showed retail sales were 0.9 per cent higher than the previous three months. Sales volumes climbed 0.5 per cent in September, a significant boost from [...]
Consumer confidence remains downbeat amid Budget wariness October 24, 2025 A small lift in consumer confidence over October has failed to take a leading index into positive territory amid fears that the upcoming Budget could damage personal finances. Labour has made boosting living standards a central mission in government while Chancellor Rachel Reeves has recently talked up plans to lower the cost of living for [...]
Bodycare: Creditors to lose millions after retailer’s collapse October 21, 2025 Bodycare owed more than £30m when it collapsed into administration with the loss of around 1,400 jobs, it has been revealed. The high street health and beauty retailer fell over in September with an initial 32 stores closed and around 450 employees being made redundant. That move was followed a few days later when it [...]
Hotel Chocolat tastes sweet success of quitting London October 20, 2025 How Hotel Chocolat has performed since being acquired by Mars for more than £500m in July 2023 has been revealed for the first time. The Hertfordshire-headquartered business quit the London Stock Exchange after being taken over in a £534m deal. The deal, which at the time represented a 169.8 per cent premium on its 139p [...]
