UK prices have risen at their fastest pace in six months, with rising fuel costs offsetting falls in furniture and food (The Times £). UK inflation in January rose to a six-month high as petrol and house prices rose (The BBC). The 1.8% CPI rate was above expectations of around 1.6% and was also the highest in six months, pushed up by higher petrol prices and a smaller-than-usual drop in airfares (Sky News).
Morrisons plans to sell only free-range eggs in a move that will put pressure on rival supermarket to follow suit. About a fifth of the 10 million eggs it sells a week come from caged hens. (The Telegraph)
Lurpak owner Arla Foods has seen profits rise as it was boosted by growth in the lactose-free market. (The Daily Mail)
The new polymer £20 note is going to start appearing in ATMs and tills from today as it enters circulation (Sky News). You’ll soon no longer find Adam Smith in your wallet or purse. The economist has been replaced as the face of the £20 note by artist JMW Turner (The BBC).
High street retailers and fashion brands are bracing themselves for stock shortages because of the coronavirus outbreak. Halfords, Primark, B&M, Asos and DFS could be affected in the coming weeks as factory closures persist across China. (The Times £)
WH Smith has stopped selling The Daily Telegraph from its outlets in railway stations in a battle over shrinking margins for newspaper retailers (The Times £). Retailer WH Smith has removed the Daily Telegraph newspaper from its shelves in UK railway station outlets in a dispute over pricing (The BBC).
Diageo has been fined $5m by the US securities regulator after “materially misleading” investors about demand for its drinks by concealing sales of unwanted stock to distributors. (The Financial Times £)