Heatwave drives shoppers off high streets in blow to retailers June 26, 2026 Record June temperatures have driven British shoppers off of the high streets in a blow to already struggling retailers. The heatwave pushed retail footfall across the UK as much as 10 per cent lower this week, according to data collected by Sensormatic for Morning Wire. In London, where temperatures reached 36C, high streets took an [...]
Miliband would be ‘disaster’ as Chancellor, says Labour cost of living chief June 26, 2026 Keir Starmer’s cost of living champion has warned that Ed Miliband would be a “disaster” as Andy Burnham’s Chancellor. Lord Richard Walker, who is also executive chairman of budget supermarket Iceland, told BBC Newsnight that the current energy secretary’s net-zero policies are putting an undue burden on household bills. He said: “Climate change is real, [...]
As it happened: Stocks tumble after Apple rattles global markets; UK food exports hit by US tariffs June 26, 2026 Welcome back to the Morning Wire liveblog. Markets are digesting fresh inflationary fears driven by Apple’s price hike as well as renewed threats over the safety of the Strait of Hormuz this morning after a projectile struck a vessel off the coast of Oman. Asian equity markets took a tumble overnight as price increases announced [...]
H&M misses sales target as cost-cutting leaves retailer understocked June 25, 2026 H&M slumped to lower than expected sales and profit as the retailer warned that its cost-cutting drive is leaving some stores unable to keep up with demand. The Swedish-listed firm took 54.8bn kronor (£4.2bn) in sales in the three months to the end of May, flat year on year. Its operating profit jumped by 11 [...]
Halfords shares rev up as garage growth drives return to profit June 25, 2026 Halfords shares have boomed after it smashed analyst expectations to turn a £44m profit, in a sign that the motoring and cycling retailer’s turnaround is beginning to gain pace. The company notched a £43.6m pre-tax profit in the year to April, returning to the black after last year’s £30m loss, as revenue grew five per [...]
As it happened: Stocks higher as oil price sinks; Reeves makes bid to stay as Chancellor June 25, 2026 Welcome back to the Morning Wire liveblog. The price of oil is heading lower this morning as the outlook around the Strait of Hormuz improves. Brent crude – the international benchmark for oil prices – tumbled below $73 per barrel, extending losses for a fourth consecutive session. These moves helped wipe out all the gains [...]
‘There’s a kind of romance to it’: Cubitts opens King’s Cross hub on site of Victorian stables June 25, 2026 Cubitts has opened a major new hub in King’s Cross, marking the latest chapter of the trendy spectacle maker’s expansion. The London-based business, which first opened its doors in 2012 and has made bespoke glasses for the likes of Idris Elba, Ryan Reynolds, Madonna and Cynthia Erivo, has taken up a 13,000 square foot lease [...]
B&M poaches Asda exec in bid to shake off accounting blunder June 24, 2026 B&M has poached an Asda executive to replace the chief financial officer who quit over a £7m accounting blunder, as the retailer eyes a drastic turnaround. The FTSE 250 firm said on Wednesday that Atheeq Akbar, currently vice president of commercial finance at Asda, will join the firm as chief financial officer next year. B&M’s [...]
THG reports boost in revenue after beauty and nutrition growth June 24, 2026 Ecommerce firm THG has reported a boost in first half revenue and adjusted earnings on the back of growth in its nutrition and beauty divisions. In a trading statement ahead of its annual general meeting today, the Manchester-based company said revenue had grown 6.5 per cent in the first half of the year while it [...]
Adidas, Calvin Klein and Uniqlo ads banned for greenwashing June 24, 2026 Fashion giants Adidas, Calvin Klein and Uniqlo have been rapped as part of a major probe into corporate greenwashing in adverts. Each of the retailers has had online adverts banned by the Advertising Standards Authority (ASA) for using the term “recycled” in a misleading way. The bans came as part of a major crackdown by [...]