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Shoppers cut back in March, with data likely to increase pressure on Bank of England over interest ratesBusiness live – latest updatesRetail sales in Great Britain unexpectedly stalled in March as consumers cut back on spending because of the cost of living, according to new data.British retail sales volumes stagnated at 0% in March after an increase of 0.1% in February, according to the...

Company, which also makes Quality Street, says reducing sugar, salt and fats could harm ‘strategic freedom’Business live – latest updatesNestlé faces a resolution at its AGM on Thursday that could force the world’s largest consumer goods company to cut back on high levels of salt, sugar and fats in its food and drinks.The Swiss-headquartered multinational is urging investors to reject the proposal, arguing a...

Media executive’s exit comes as broadcaster faces a number of controversiesGet our morning and afternoon news emails, free app or daily news podcastJames Warburton, the chief executive and managing director of Seven West Media, left the company on Thursday, amid a tumultuous period for the broadcaster.The prominent media executive was due to step down before the end of the financial year, according to executive...

Shares in Beyoncé and Neil Young song fund rise amid hopes uncertainty over its future could be overBusiness live – latest updatesThe embattled British music royalties investment fund Hipgnosis, which owns the rights to songs by artists from Beyoncé to Neil Young, has agreed to a $1.4bn (£1.1bn) takeover by a music and theatrical rights rival after months of turmoil over the company’s structure...

Demand for private treatment booms as NHS waiting lists remain long, while more people also sign up for dental cover Britain’s health cover market has grown by £385m in a year as the NHS crisis prompted more people to seek out private medical treatment and demand for dental insurance increased, according to a report.The total health cover market, including medical and dental insurance and...

Predictions for when Bank of England will start lowering cost of borrowing pushed back Business live – latest updatesThe UK’s annual inflation rate fell by less than expected in March to 3.2%, complicating the timing of a first Bank of England interest rate cut.Figures from the Office for National Statistics (ONS) show inflation continued to fall from 3.4% in February to reach the lowest...

Carrier says three-week grounding of 737 Max 9 planes after Alaska Airlines blowout cost it profitUnited Airlines has blamed a $200m (£161m) hit to its earnings in the first three months of the year on the mid-flight blowout that forced it to ground many of its Boeing planes.The US carrier said the three-week grounding of 737 Max 9 jets after a cabin panel blew...

Time taken for Farhad Moshiri to attract new investors may have made a viable solution harder to find Everton fans are used to owner Farhad Moshiri telling them that better times will be arriving soon. He began his reign at the club in 2016 promising to give fans “whatever I have” – the type of soundbite he would continue to deliver during the following...

Swiss food firm’s infant formula and cereal sold in global south ignore WHO anti-obesity guidelines for Europe, says Public EyeNestlé, the world’s largest consumer goods company, adds sugar and honey to infant milk and cereal products sold in many poorer countries, contrary to international guidelines aimed at preventing obesity and chronic diseases, a report has found.Campaigners from Public Eye, a Swiss investigative organisation, sent...

Julian Dunkerton decided against takeover offer and company will delist from London Stock ExchangeBusiness live – latest updatesSuperdry is to embark on a restructuring plan including rent reductions in stores and a fundraising, backed by its boss and co-founder Julian Dunkerton, and will quit the London Stock Exchange.Trading in the shares was halted on Tuesday morning after they fell 25% to just over 5p,...

International Paper settles all-share deal after tussle with British rival MondiBusiness live – latest updatesThe FTSE 100 UK packaging firm DS Smith is to be taken over by a bigger US rival, International Paper, after the companies agreed a £5.8bn all-share deal.Tennessee-based International Paper, one of the largest paper and pulp companies in the world, moved in late March to gatecrash a £5.14bn all-share...

Pay growth is stronger than expected, underlining dilemma over when to cut interest ratesBusiness live – latest updatesThe number of people out of work rose by more than expected in February, raising concerns that employers are beginning to lay off staff in response to high interest rates.The Office for National Statistics said the unemployment rate increased to 4.2% in February from 3.9%, well above...

Treasurer offers more detail on forthcoming Future Made in Australia plan after concerns raised by productivity commissionerGet our morning and afternoon news emails, free app or daily news podcastTax breaks and subsidies may be offered to industry as part of the government’s yet-to-be-detailed Future Made in Australia plan – but Jim Chalmers says there will be “strict tests” on public funding for the green...

More than 40 locations across the US reported the backlash after rightwing account stokes anti-trans rhetoric about its rulesMore than 40 Planet Fitness locations across the country have received bomb threats after a conservative movement against the gym’s trans-inclusive locker room policy went viral online.In the weeks since the backlash against the gym chain started in March, at least 43 locations in Connecticut, Florida,...

Adnoc decided move was not right fit but it is latest sign of foreign buyers circling UK firmsAbu Dhabi’s state-owned oil company reportedly recently explored a multibillion-pound bid for BP in a sign that depressed share values in London are making even the biggest British businesses takeover targets.Abu Dhabi National Oil Company (Adnoc) considered options including purchasing BP or acquiring a large stake before...

February growth of 0.1% comes despite construction and retail being hit by wet start to yearBusiness live – latest updatesBritain’s economy has taken a step closer to exiting recession as official figures showed growth continued in February despite a washout month for construction and retail after one of the wettest starts to a year on record.The Office for National Statistics (ONS) said gross domestic...

Health experts say government must step in to cut sugar in beverages and tackle manufacturers’ ‘appalling’ behaviourFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastAn increase in sugar in two popular soft drink brands has prompted health experts to renew calls for laws to cut the sugar in beverages, and to tackle...

Fitch cut to negative comes as country moves away from reliance on growth from property sectorBusiness live – latest updatesFitch has downgraded the outlook on China’s debt as it warned of increased risks to the economy while the country moves away from its reliance on growth from the property sector.On Wednesday the US-based agency said it had revised China’s sovereign credit rating from stable...

Profits near £2.3bn for supermarket, which says it is ‘conscious things are still difficult for many customers’Business live – latest updatesTesco has said inflationary pressures in the UK grocery sector have “lessened substantially”, as it announced plans to make £500m in efficiency savings in the year ahead.As expected, the country’s biggest supermarket chain revealed pre-tax profits of almost £2.3bn, up 159% on the previous...

Mobile units will be deployed on high streets to identify wanted people – including repeat offendersThe government is investing more than £55m in expanding facial recognition systems – including vans that will scan crowded high streets – as part of a renewed crackdown on shoplifting.The scheme was announced alongside plans for tougher punishments for serial or abusive shoplifters in England and Wales, including being...

Law firm’s founders among those to face money laundering charges after leak of 11.5m files in 2016A criminal trial of 27 employees working for the law firm at the heart of the Panama Papers on money laundering charges has commenced in a Panamanian court.Eight years ago, leaked financial records from the law firm Mossack Fonseca sparked international outrage at the use of offshore companies...

Controversial investment bank could play important role in fate of Britain’s biggest water firmBusiness live – latest updatesThe Australian investment bank Macquarie, which has been criticised for its role in the privatisation of England’s water industry, is understood be among lenders to Thames Water’s troubled parent company.The former Thames Water shareholder could, along with other lenders, play an important role in determining the fate...

Walter Huang was killed when his car steered in to a highway barrier and Tesla will avoid questions into its technology in a trialTesla has settled a lawsuit over a car crash which killed an Apple engineer in 2018 after his car veered off a highway near San Francisco, court documents showed on Monday.The settlement was made as the trial was about to start...

In annual letter to investors, Jamie Dimon warns ‘wars in Ukraine and Middle East could become far worse’The boss of the US bank JP Morgan has warned that the world could be facing the most dangerous moment since the second world war, putting lives and economic growth at risk.In his annual letter to investors, Jamie Dimon said the world had been “generally on a...