6:40 am, November 2, 2022
Food inflation soars to record level as energy costs hit producers
Food inflation soared to a record 11.6 per cent in October as even basics such as tea bags, milk and sugar all saw significant price rises, figures show.
Overall shop prices are now 6.6 per cent higher than they were this time last year – also a record – but food inflation jumped well above September’s 10.6 per cent and the three-month average rate of 9.7 per cent, according to the British Retail Consortium-Nielsen Shop Price Index.
Fresh food prices are now 13.3 per cent more than last October, up from 12.1 per cent in September. Non-food inflation accelerated to 4.1 per cent, up from 3.3 per cent in September.
Black Friday and Cyber Monday woe for shoppers as Royal Mail workers plan strike
Royal Mail workers will stage two 48-hour strikes around Black Friday and Cyber Monday in an escalating row over pay, jobs and conditions.
It announced strikes around Black Friday on November 25 and Cyber Monday on November 28.
The union has withdrawn strikes planned for November 12 and 14, saying it wants to take more ‘proportionate’ action.
Sainsbury’s launches hiring spree for 18,000 Christmas jobs
Sainsbury’s is hiring for 18,000 seasonable jobs to support the retail giant through the busy Christmas period.
The company said it has created 15,000 roles at Sainsbury’s, 2,000 at Argos and 1,000 in its logistics division.
It said the new workers will help across Sainsbury’s and Argos stores to keep shelves stocked, pick items and to pack and deliver online orders. It is also searching for logistics staff to work at warehouses to support increased demand for products.
Morrisons to shut 132 McColl’s stores, with 1,300 jobs at risk
Around 1,300 jobs are at risk at McColl’s after Morrisons revealed proposals to shut 132 loss-making stores in the convenience chain it bought earlier this year.
The supermarket giant sealed a deal to buy its troubled rival for £190m in a rescue deal in May.
Yesterday, Morrisons unveiled plans to overhaul the convenience retailer after competition regulators said last week they were set to clear the takeover.
Government is failing to lead on cutting carbon emissions, say MPs
The government has been accused by MPs of failing to give an effective lead on cutting damaging greenhouse gas emissions, despite having set a legally binding target of net zero emissions by 2050.
The Commons public accounts committee said ‘vague’ guidelines and ‘fragmented’ responsibilities within Whitehall meant fewer than half of all government departments were complying with mandatory reporting requirements on emission levels.
It warned that ‘inconsistent’ reporting of data across the public sector made it difficult to compare performance and risked undermining confidence in reported progress towards the 2050 target.
Labour refers Suella Braverman to financial watchdog over security breach
Embattled home secretary Suella Braverman has been referred to a financial watchdog by Labour over concerns of a breach of insider trading laws.
Shadow city minister Tulip Siddiq has asked the Financial Conduct Authority to investigate the leaking of information that led to Braverman’s resignation.
Rishi Sunak has been under sustained pressure since deciding to reappoint Braverman to the role six days after she was forced out by Liz Truss while she was still prime minister.
Some rail strikes called off after talks
A rail union has called off planned strikes at Network Rail following progress in talks.
Members of the Transport Salaried Staffs Association (TSSA) were due to strike on Saturday November 5, Monday November 7 and Wednesday November 9, running alongside industrial action short of a strike.
It has now formally withdrawn notices for all strike action and action short of a strike involving thousands of workers at Network Rail. The Rail, Maritime and Transport union is pressing ahead with its strike against Network Rail and a number of train operators on the same days. TSSA members at some train operators will take industrial action between November 5 and 9.
Monty Python inspired Elon Musk’s idea of ‘charging for insults and arguments’
Elon Musk says he took inspiration from Monty Python for ‘charging for insults and arguments’ amid an ongoing backlash from his decisions as the new head of Twitter.
The Tesla boss, who completed his acquisition of the platform last week, reportedly plans to charge verified users to retain their blue tick.
Following outrage stemming from the proposal, Musk has said the monthly charge will be $8 (£4.30) rather than the originally suggested $20 (£17). In a tweet, he shared a link to a Python skit entitled Argument, saying: ‘Totally stole idea of charging for insults & arguments from Monty Python tbh’.
Special edition Dacia Duster Extreme SE rejoins crossover’s line-up
Dacia has reintroduced its special-edition Duster Extreme SE to its range.
Standard features include heated front seats, keyless entry, a multi-view camera and eight-inch touchscreen with Apple CarPlay and Android Auto.
The Extreme SE also benefits from a range of visual changes, including gloss-black 17-inch alloy wheels and orange accents. Prices start from £18,295 and it’s available to order now, with first deliveries planned for the start of 2023.
Tuesday’s stories on Car Dealer you might have missed
- Carzam’s founders are owed more than £12m after collapse of online used car firm
- Cazoo sells off Italian used car business to Stellantis-owned Aramis Group
- AW Rostamani Group snaps up remaining West Way Nissan dealerships
- Vertu completes multi-million-pound takeover of family-run motorcycle business
- Everything you ever needed to know about Motability
- LEVC to axe some 140 jobs as it looks to improve cash flow in wake of pandemic
- Police hunting for seven vehicles stolen from Staffordshire car dealership in dead of night
- Britishvolt avoids collapse after securing 11th-hour funding – report
- Increasing energy bills are putting drivers off from going electric, new research finds
Market movements
The FTSE closed up 91.63 points yesterday to finish on 7,186.16. Meanwhile, the Cac 40 rose by 61.48 points, ending on 6,328.25, the Dax went up 85.00 points to 13,338.74 but the Dow Jones was down 79.75 points at 32,653.20.
Weather outlook
Today will see a wet and windy start for Northern Ireland, with blustery rain spreading across Scotland into Wales and a lot of England in the afternoon with strong gusts, says BBC Weather. Eastern areas will have sunshine.
Rain will probably linger in the south-east for much of Thursday, while for the rest of the UK it’ll be brighter. There’ll be sharp showers in the west, especially in Wales and south-west England.
