The government might be celebrating falling inflation, but higher prices for goods and services are here to stayTwo years ago, a two-litre bottle of supermarket olive oil cost about £7. Step into your local branch today and that same bottle will set you back more than £16. Grab a packet of pasta, or some broccoli, and you will pay 95% and 50% more, respectively, than in 2022. If your car insurance renewal is due, that will be an extra 35%-50%.The Russian invasion of Ukraine almost 26 months ago set off a chain reaction that caused energy and food bills to jump, and ultimately sent inflation in the UK spiralling, reaching a peak of 11.1% in October 2022, the highest rate in 41 years. Continue reading...

13 Apr 2024 14:00 ✍️ RSS THE GUARDIAN

Company founded in China and promoted on social media is thought to be considering London listingShein, the online fast fashion retailer founded in China, has more than doubled its profits to more than $2bn (£1.6bn) as it awaits approval for a stock market listing in New York or London.The company, which is growing rapidly around the world by using social media to promote its goods, recorded sales of about $45bn last year, according to a report in the Financial Times based on information from sources close to the company. Continue reading...

01 Apr 2024 14:49 ✍️ RSS THE GUARDIAN

Analysts say fastest growing part of market is for ‘talking point’ eggs, with some clocking in at 1kgAt Easter, people used to get excited if theirs came with a mug and a bag of sweets but those days are over, with social media stoking demand for talking point “mega eggs” in fancy shapes and exotic flavours.The choice is no longer just about the type: think “blonde”, “strawberry-white” or “pistachio” flavour chocolate not bog-standard milk, dark and white. There is also a race to create the thickest and, ergo, most luxurious shells. Continue reading...

29 Mar 2024 08:00 ✍️ RSS THE GUARDIAN

Portable AI-powered devices that connect directly to a chatbot without the need for apps or a touchscreen are set to hit the market. Are they the emperor’s new clothes or a gamechanger?Imagine it: you’re on the bus or walking in the park, when you remember some important task has slipped your mind. You were meant to send an email, catch up on a meeting, or arrange to grab lunch with a friend. Without missing a beat, you simply say aloud what you’ve forgotten and the small device that’s pinned to your chest, or resting on the bridge of your nose, sends the message, summarises the meeting, or pings your buddy a lunch invitation. The work has been taken care of, without you ever having to prod the screen of your smartphone.It’s the sort of utopian convenience that a growing wave of tech companies are hoping to realise through artificial intelligence. Generative AI chatbots such as ChatGPT exploded in popularity last year, as search engines like Google, messaging apps such as Slack and social media services like Snapchat raced to integrate the tech into their systems. Yet while AI add-ons have become a familiar sight across apps and software, the same generative tech is now making an attempt to join the realm of hardware, as the first AI-powered consumer devices rear their heads and jostle for space with our smartphones. Continue reading...

31 Mar 2024 11:00 ✍️ RSS THE GUARDIAN

Cost of living crisis and sustainability concerns drive shoppers towards ‘pre-loved’ garments as older buyers join inAnalysis: wearing a secondhand outfit these days is something to brag about, not whisperSecondhand clothing sales are on track to make up a tenth of the global fashion market next year, as the cost of living crisis and concerns over sustainability drives consumers towards “pre-loved” garments.Global sales of pre-owned clothes surged by 18% last year to $197bn (£156bn) and are forecast to reach $350bn in 2028, according to a report by GlobalData for resale specialist ThredUp. The landmark is expected to be reached a year later than predicted, as global growth remains slightly behind previous estimates. Continue reading...

27 Mar 2024 10:00 ✍️ RSS THE GUARDIAN

Waitrose and Ocado win new shoppers while a quarter of households are feeling the squeezeBusiness live – latest updatesGrocery price inflation in Great Britain has slowed to 4.5%, its lowest level since February 2022, but one in four households are still struggling financially, retail researchers have found.However, the figures also suggest a change in sentiment with upmarket retailers Waitrose and Ocado the only grocers to win new shoppers in the past three months, according to the latest monthly figures from the analysts Kantar, as growth in more expensive branded groceries outstripped supermarket own-label. Continue reading...

26 Mar 2024 08:00 ✍️ RSS THE GUARDIAN

But Dale Vince’s Ecojet plane will run on kerosene-based fuel in 2024 to enable quick start to projectThe green energy tycoon Dale Vince is planning to launch Britain’s first electric airline in a move designed to prove polluting industries can decarbonise.Ecojet, styled as a “flag carrier for green Britain”, will launch early next year with a 19-seater plane travelling on a route between Edinburgh and Southampton. Continue reading...

16 Jul 2023 23:01 ✍️ RSS THE GUARDIAN