AG Barr’s half-year earnings have soared thanks to recent takeovers and a rise in soft drinks sales (The Daily Mail). AG Barr may be best known for producing Irn-Bru, but the Scottish soft drinks group continues to develop or acquire new products, from energy drinks and cocktail mixers to oat milk, to pep up its performance (The Times £)
Pret a Manger raised its prices by up to five times more than the increase in the average takeaway sandwich price over the past year. Analysts believe that Pret is choosing profit margins over volume. (The Times £)
US regulators have sued Amazon, alleging that the internet giant is illegally maintaining monopoly power (The BBC). The US Federal Trade Commission and 17 states have sued Amazon, alleging the online retailer illegally uses monopoly power to overcharge consumers, hobble competitors and exploit sellers on its marketplace (The Financial Times £). The US Federal Trade Commission has accused Amazon of wielding monopoly power to inflate prices and stifle innovation in a landmark lawsuit taking aim at Big Tech’s dominance of the internet (The Times £).
The pound is on track for its worst month since Liz Truss’s mini-budget as money markets pare back bets on how high the Bank of England will push up interest rates (The Times £). The pound hit a six-month low against the dollar last night as it headed for its worst month since the mini-Budget crisis of last September amid fears of a recession (The Daily Mail).
The boss of Iceland has been forced to apologise and retract a claim that three staff contracted HIV as a result of needle attacks. (The BBC)
France’s two biggest supermarket chains have said they will sell fuel at cost price to help people with the cost of living. (The BBC)
Australian vineyards struggle to stay afloat amid wine glut. With 2bn litres in storage the industry hopes tariff resolution with China will boost trade. (The Financial Times £)
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