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Lidl tops Waitrose to become UK's seventh biggest grocer

Lidl has beaten Waitrose to become the UK’s seventh largest supermarket chain, according to latest grocery market share figures. The German discount food retailer has increased its market share to 5.2%, up by 0.7% year-on-year, Kantar Worldpanel reports. Families are driving its sales as they tend to buy more items ...

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Dominic Chappell to be prosecuted over BHS collapse

The Pensions Regulator is to prosecute Dominic Chappell the former boss of retail chain BHS. He is charged with failing to provide information and documents the regulator requested during its investigation into the sale of BHS. Chappell’s Retail Acquisitions (RAL) bought BHS for £1 in 2015 off retailer Sir Philip ...

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Property sales confirm static market, HMRC data shows

UK property sales topped 100,000 for the third month this year in July – but were almost identical to a year ago. A total of 107,500 homes were sold during the month, data from HM Revenue and Customs (HMRC) shows. This follows 100,000-plus sales in March and June but, in ...

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HMRC to offer compensation for childcare site issues

HM Revenue and Customs (HMRC) has begun a compensation scheme for parents unable to apply for government-funded childcare schemes due to IT glitches. Since the Childcare Service launched in April, many parents have struggled to complete applications. Parents may be eligible for a one-off payment if they were unable to ...

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Government runs July budget surplus for first time in 15 years

The Government recorded a budget surplus last month for the first time since 2002 as more money came in from self-employed tax receipts. July saw a surplus of £0.2bn, compared with last year’s deficit of £0.3bn. For the four months so far this year, though, public sector net borrowing – ...

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FTSE 100 ahead as Provident shares dive

Shares in doorstep lender Provident Financial crashed by 53% on Tuesday as it issued a profit warning. It says it expects to make losses of £80m to £120m as its debt collection rates have dropped to 57% compared with a previous rate of 90% in 2016. At open the FTSE ...

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Persimmon hails resilient housing market

Housebuilder Persimmon has issued an upbeat report of its business in the half-year to July . It says that the mood across its regions “remains confident and consumer sentiment is resilient”. The company’s profits were up 30% to £457.4m, compared with £352.3m last time and it said its average selling ...

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Provident Financial issues new profit warning as boss quits

Doorstep lender Provident Financial has issued its second profit warning in months. It says it now expects to make losses of £80m to £120m as its debt collection rates have dropped to 57% compared with a previous rate of 90% in 2016. Bradford-based Provident recently changed the way it collected ...

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BHP Billiton to sell US shale business

Mining giant BHP Billiton will sell its US shale assets after pressure from shareholders to offload the underperforming business. The miner said a number of parties are interested in the assets and it is “actively pursuing options to exit.” Shareholder Elliott Management has campaigned for strategic changes at BHP including ...

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UK toys celebrated on Royal Mail stamps

The UK’s favourite toys from the past 100 years are being celebrated in a new set of stamps from the Royal Mail. Characters in the set include the Sindy doll and Action Man, as well as brands like Spirograph, Stickle Bricks and Fuzzy Felt. Meccano, the Merrythought bear, W Britain ...

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