Category: <span>Markets</span>

Asda appoints former M&S boss Stuart Rose as new chairman
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Asda appoints former M&S boss Stuart Rose as new chairman

Asda has appointed Stuart Rose, the Conservative peer and former boss of Marks & Spencer, as its first dedicated chairman in more than 20 years. Lord Rose, who helped fight off a 2004 bid from former BHS and Topshop owner Sir Philip Green in his time at M&S, is a retail veteran who has had stints at the...

Wholesale energy prices hit second highest level in at least three years
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Wholesale energy prices hit second highest level in at least three years

Wholesale energy prices hit the second highest level in at least three years on Monday, adding pressure on suppliers struggling to secure electricity and gas at competitive rates. Low wind speeds were to blame for pushing wholesale energy prices for the peak period between 5pm and 6pm over £2,000 per megawatt hour, only the second...

Crisps and soft drinks lead surge in UK food prices as inflation rises
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Crisps and soft drinks lead surge in UK food prices as inflation rises

Food price inflation reached a 14-month high in October with the prices of favourite snacks such as crisps and soft drinksrising the most, according to new figures. Annual grocery price inflation reached 2.1% last month which is the highest since August 2020, according to grocery market analysts Kantar. Fraser McKevitt, the Kantar head of retail...

Tesla recalls nearly 12,000 US vehicles over software glitch
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Tesla recalls nearly 12,000 US vehicles over software glitch

Tesla Inc is recalling nearly 12,000 US vehicles sold since 2017 because a communication error may cause a false forward-collision warning or unexpected activation of the emergency brakes, the National Highway Traffic Safety Administration (NHTSA) said on Tuesday. The California automaker said the recall of 11,704 Model S, X, 3 and Y vehicles was prompted after a...

Tesla Model 3 is first battery electric car to top Europe’s monthly sales chart
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Tesla Model 3 is first battery electric car to top Europe’s monthly sales chart

The Tesla Model 3 was the bestselling car across Europe in September, the first time a battery electric vehicle has topped the monthly sales charts in the region. Tesla sold 24,600 Model 3 cars during the month, taking a 2.6% market share that meant it outperformed established internal combustion engine models such as Renault’s Clio or Volkswagen’s...

Evergrande faces fresh debt deadline as property market woes widen
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Evergrande faces fresh debt deadline as property market woes widen

Financial markets were braced for more bad news about the shaky Chinese property market as struggling giant Evergrande looked set to miss a fresh round of debt repayments worth $148m, and another developer pleaded for more time to repay what it owes. China Evergrande Group missed two coupon payment deadlines last month worth $131m amid widespread concern of huge...

UK house sales tumble in July after stamp duty holiday deadline
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UK house sales tumble in July after stamp duty holiday deadline

House sales tumbled by almost two-thirds in July after tens of thousands of homebuyers rushed to complete their purchases in order to beat Rishi Sunak’s end-of-June stamp duty holiday deadline. Following a record surge in activity in June, when 213,370 UK homes changed hands, transactions slumped 62% to 82,110 in July according to official data, after...

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The Amazon sellers who sold up and became millionaires

Becoming a millionaire was never part of the plan. Michele Venton had left London for Bournemouth, keen to escape corporate life – and decided to try selling dresses online. “I always had this idea that I would design this range of dresses for a particular woman,” she says. She found a factory to make her...

UK house prices now 30% higher than pre-2008 crisis peak
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UK house prices now 30% higher than pre-2008 crisis peak

UK house prices hit a new high in June and are 30% higher than the peak they reached before the 2008 financial crisis, according to the latest snapshot of the market. The property website Zoopla said the average price of a home was £230,700 – as much as 5.4% higher than the same month a year...

‘Frenzied buyer activity’ drives UK house prices to new high
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‘Frenzied buyer activity’ drives UK house prices to new high

Months of “frenzied buyer activity” have driven the average asking price for a home in Britain to a new high, according to the property website Rightmove. The property portal said it expected figures from HMRC due later this week to show that June was the busiest month on record for sales, with buyers rushing to...