UK economic growth forecast cut for this year

One month into the Iran war, US petrol prices are beginning to hurt consumers at the pump. Iran has effectively closed off the Strait of Hormuz, one of the world’s busiest oil shipping channels, since the US and Israel attacked it on 28 February. And it means the average price of petrol at the pump…

Fashion brand Next has continued to see sales overperform, following a boost in the aftermath of a cyber-attack at rival firm M&S. The British retailer reported a stronger-than-expected 10.5% increase in full-price sales for its third quarter on Wednesday and raised its full year profit guidance for the fourth time in eight months. Next is…

Josh MartinBusiness reporter Getty Images Retail sales fell unexpectedly in November as Black Friday discounts failed to boost spending, official figures show. Supermarket sales fell for the fourth month in a row, while discounts at retailers across November did not lift Black Friday spending as much as in recent years, the Office for National Statistics…