Bloomberg Inflation on British groceries jumped to another record high in January with little sign of the price rises slowing on the consumers’ weekly shop. The rate hit 16.7% in the four weeks to Jan. 22, up from 14.4% in December, reaching the highest level since Kantar started tracking the data in 2008. The increase adds an extra £788 ($973) ...

  Bloomberg Samsung Electronics Co., the world’s biggest smartphone maker, expects the smartphone market to contract in 2023. The Suwon, South Korea-based Galaxy device maker said it sees demand for mobile devices shrinking in the current year, even after the economic challenges and disappointing sales of 2022. The company detailed its biggest profit drop in over a decade, saying “the ...

  Bloomberg Arla Foods AB, the Danish maker of Lurpak butter, expects the cost of dairy products to fall sharply in 2023 in the UK after becoming a hot spot of inflation. The boss of the UK’s biggest dairy producer said he is confident that all the cost pressures facing its farmers have now passed though. The remarks open the ...

  Bloomberg Boeing Co. is studying whether an innovative plane it’s developing with Nasa could find a home in its lineup next decade, the company’s top executive said, offering a tantalising glimpse into its product strategy. Later this decade, the US planemaker plans to fly a full-scale prototype of the single-aisle jet, whose size could make it an eventual successor ...

  Bloomberg Southwest Airlines Co. and American Airlines Group Inc. have cancelled more than 1,500 flights early this week as a winter storm brings freezing temperatures, sleet and possible ice accumulation to the Dallas-Fort Worth area. Southwest, which accounts for nearly all the flights at Dallas Love Field, grounded 483 on January 31 and pre-cancelled 309 on Tuesday, according to ...

  Bloomberg Swiss retail sales fell in December from a year earlier as winter gloom and inflation concerns weighed on consumers. The 2.8% drop — following contractions in October and November — was the first such decline in that month since 2016, suggesting weak household spending at a time of year that typically is among the best for retailers. The ...

  Bloomberg The European Union (EU) unveiled a roadmap for how it plans to keep its industries competitive as the bloc tries to catch up to the US and China, which offer huge subsidies to domestic green technologies. The European Commission wants to use its Green Deal Industrial Plan to boost national support for companies through investment aid and tax ...

  Bloomberg The price tag for TC Energy Corp.’s Coastal GasLink project has jumped to C$14.5 billion ($10.9 billion), as labour shortages and contractor disputes continue to plague a pipeline that will supply Canada’s first major liquefied natural gas export plant. The cost could rise another C$1.2 billion if there are more delays that extend construction into 2024, the Canadian ...

Bloomberg Swathes of office staff have been forced to work from home Wednesday as widespread industrial action closes schools and cripples Britain’s rail network. As many as 475,000 union members are on strike, demanding pay rises that do more to combat the cost-of-living crisis. Many were given salary increases of less than 5% last year, even as inflation climbed above ...

  Bloomberg The number of Swedish bankruptcies soared to the highest level in at least a decade in January, as construction companies come under pressure from an ongoing housing-market rout. The number of companies filing for bankruptcy increased by 47% from a year earlier in January, to 622, according to credit reference agency UC. The data highlights the effects of ...