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  • Inflation in UK shops slows amid price cuts on clothes and shoes

    Prices in non-food stores are lower in April than a year earlier as stores offload summer stockPrices in UK shops rose at their slowest rate since late 2021 in April as deep discounts by clothing and footwear retailers put the brakes on inflation, the latest snapshot of high street spending trends has shown.The monthly bulletin from the British Retail Consortium (BRC) – the lobby group for the industry – found that the battle by store owners to offload summer stock in cold and wet weather meant...

  • Anglo American Shares Rise After BHP Takeover Approach

    Get briefed ahead of your morning calls with the latest UK business headlines, key data and market reaction.

  • Fed to meet amid dwindling hopes of summer rate cuts

    The Fed's decision to hike interest rates and then hold them at a 23-year high has helped to significantly lower elevated inflation, although it remains stuck firmly above the US central bank's long-term target of two percent.Since the start of this year, the Fed's favored inflation measure has actually accelerated, hitting an annual rate of 2.7 percent in March, while economic growth has slowed, and the labor market has remained robust.The current environment, analysts say, is likely to lead...