Economy

Economy unexpectedly shrinks 0.1% in May

Monthly real gross domestic product (GDP) unexpectedly fell 0.1% in May 2025, following an unrevised fall of 0.3% in April 2025 and growth of 0.4% in March 2025, according to the latest figures from the Office for National Statistics (ONS). Gross domestic product (GDP) rose by 0.5% in the three…

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Tesco to open multi-million pound distribution hub in London

Tesco has announced plans for a new distribution centre at DP World London Gateway, set to open in 2029. The supermarket said the site would strengthen its logistics network and support growth across its store estate. It described the move as a long-term investment in ensuring operations remain “fit for…

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Tesco to open 10 new stores in Ireland amid €40m investment

Tesco Ireland is to create 400 new jobs as part of a €40m (£34m) investment that will see 10 new stores open across the country in the next 12 months. The move will bring the supermarket’s permanent workforce to more than 13,500, reinforcing its position as one of the largest…

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Dotdigital Group acquires influencer, affiliate and referral marketing platform Social Snowball for $35m

Dotdigital Group plc (AIM: DOTD), the leading SaaS provider of customer experience and data platforms (CXDP), has acquired Social Snowball Holdings, Inc., a US-based influencer, affiliate, and referral marketing platform for e-commerce brands, for $35m (£25.5m). The investment brings together two fast growing technologies that until now have been distinct…

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Amazon to invest £40bn as part of major UK expansion

Amazon has unveiled plans to invest £40bn in the UK over the next three years, which will see it build four new fulfilment centres and new delivery stations whilst creating thousands of jobs. As part of the investment it will also upgrade and expand its existing network of over 100…

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Young adults lift UK consumer confidence despite economic concerns

Consumer confidence in the UK rose modestly in June, buoyed by optimism among younger age groups despite continuing concerns over inflation and global instability, according to new data from GfK. The research firm’s long-running Consumer Confidence Index increased by two points to -18, with improvements in views of the wider…

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Warm weather fails to boost footfall in May

Retail footfall across the UK declined by 1.7% compared with May 2024, spelling a sharp drop from the 7.2% rise recorded in April, according to the latest data from the British Retail Consortium (BRC) and Sensormatic Solutions. The downturn affected most retail locations, with High Streets down 2.5% year-on-year, and…

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Women’s Euros to deliver £593m retail boost, report finds

The Women’s Euro 2025 football tournament is expected to deliver a £593.4m boost to UK retail, according to a new report from VoucherCodes.co.uk. The Women’s UEFA Euro 2025 Spending Report forecasts that the event will contribute £851.6m to the UK economy overall. Around 19.7 million fans are expected to watch…

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Why the mood economy is shaping the retail landscape

Retail therapy is nothing new. For decades, shoppers have found comfort in the act of buying here and there to lift their mood, mark a moment, or simply to reclaim a sense of control. But lately something feels different in Britain’s buying habits, and it runs deeper than the occasional…

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Cadogan profits rise amid continued investment in Chelsea estate

Cadogan has reported a 16.6% increase in operating profit, supported by sustained demand across its portfolio and progress on environmental and community goals. Total income rose 11.8% to £241.4m in 2024, up from £216m the previous year. The value of its property portfolio grew 1.3% to £5.7bn. The estate also…

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