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Sunday newspaper round-up: Consumer confidence, Retailers, Milk

(Sharecast News) - Britons' confidence in their finances plumbed to its lowest level since the start of the Covid-19 lockdown, the results of a survey conducted by PwC showed. Worries about higher prices and the cost of living dragged the index down to -20, against a reading of +8 one year before and of -26 at the beginning of the pandemic. Across all age groups, consumers were planning to rein in spending on eating out, clothes and holiday trips, even as they braced for higher spending on groceries. - Sunday Times

Asos and Kingfisher are among the British retailers being targeted by hedge funds which are making huge bets that they will struggle. Others include AO World, Boohoo, Aston Martin, Cineworld, Dixons Carphone, Naked Wines and Royal Mail. Those bets come on the back of research showing that consumers are pulling back on spending on the likes of clothing, furniture and white goods, opting instead to focus on essentials. - Financial Mail on Sunday

Dairy farmers meeting in Brussels have held crisis talks to discuss rocketing costs and supply chain disruptions, amid warnings that the price of a pint of milk could soar by as much as 50%. According to Kite Consulting, the cost of four pints could rise from approximately £1.15 to between £1.60 and £1.70. Pointing to the rising cost of everything from fuel and fertiliser to feed prices, Andrew Kuyk, director general of the Provision Trade Federation, said: "The direction of travel is bad. The strength of the price increases is stronger than most people will have known in recent times because this is all pretty unprecedented." - Sunday Telegraph

Homebuilder Travis Perkins will stop sourcing 'conflict timber' from Russia and Belarus due to the war in Ukraine. That follows a ruling last month by leading forest certification organisations that all products coming from Belarus and Russia would be considered 'conflict timber'. - Financial Mail on Sunday

The president of the US Teamsters union has vowed to press Amazon harder and to pursue the unionisation of the e-commerce giant on its own following a vote by its workers in New York to create the first union in the company within the US. Another vote in Alabama went against the union initially but the final outcome would depend on 416 challenged ballots. - Guardian

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Thursday newspaper round-up: Border controls, McKinsey, KPMG
(Sharecast News) - New post-Brexit UK border controls coming into force later this month will cost British businesses £2bn and fuel higher inflation, according to a report warning that UK-EU trade will be damaged as a result. With less than a month before the introduction of new checks on animal and plant products from 30 April, the insurer Allianz Trade said the controls agreed under Boris Johnson's Brexit deal could add 10% to import costs over the first year. - Guardian
Wednesday newspaper round-up: Shoplifting, EnQuest, Klarna
(Sharecast News) - The government is investing more than £55m in expanding facial recognition systems - including vans that will scan crowded high streets - as part of a renewed crackdown on shoplifting. The scheme was announced alongside plans for tougher punishments for serial or abusive shoplifters in England and Wales, including being forced to wear a tag to ensure they do not revisit the scene of their crime, under a new standalone criminal offence of assaulting a retail worker. - Guardian
Tuesday newspaper round-up: Pharma companies, Puig, Thames Water
(Sharecast News) - Rachel Reeves has said an incoming Labour government would launch a £5bn crackdown on tax avoiders to close a gap in its spending plans exposed by Jeremy Hunt scrapping the non-dom regime to finance tax cuts. Warning households and businesses that Labour was prepared to adopt tough measures to tackle tax fraud and non-compliance, Reeves said the funding would be used to pay for free school breakfast clubs and additional NHS appointments. - Guardian
Monday newspaper round-up: Boeing, rent rises, e-scooters, Santander UK
(Sharecast News) - US airline regulators have launched an investigation after an engine cowling on a Boeing plane fell off during takeoff and struck the wing flap. The Southwest Airlines flight 3695 rose to about 10,300ft (3,140 metres) before returning safely 25 minutes after takeoff to Denver international airport at about 8.15am local time on Sunday. It was towed to the gate after landing. The Boeing aircraft with 135 passengers and six crew members aboard had been headed to Houston. No one was injured. - Guardian

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