Walmart is preparing to raise prices in the US this month, to mitigate the costs associated with Donald Trump’s import tariffs.
The plans by the world’s largest retailer come as White House announcements in recent weeks have resulted in most goods from around the world facing new import taxes of at least 10%, with products from China facing higher duties of at least 30%.
The BBC takes a measured stance, reporting that Walmart chief executive Doug McMillon said he was grateful that the Trump administration had at least suspended plans for more aggressive levies.
The national newspapers’ reporting is starker, focusing on the “unprecedented” nature of the tariffs with “tough times ahead” for Walmart (The Telegraph, The Times).
Both Reuters and The Guardian refer to Walmart as a “bellwether of US consumer health”, as its scale means it is usually able to manage costs more aggressively than other companies to keep prices low.
The UK economy is “beginning to turn a corner”, the Chancellor has said, after it grew by more than expected in the first three months of the year.
Rachel Reeves told the BBC the 0.7% growth in the January-to-March period was “very encouraging”, but shadow Chancellor Mel Stride said it was “a bit premature to be popping the champagne corks”.
An increase of just 0.6% was anticipated by economists polled by news agency Reuters (Sky News).
The rising use of weight-loss drugs like Ozempic and Mounjaro is fuelling stronger sales at Holland & Barrett, according to its boss.
Alex Gourlay, executive chairman, said Holland & Barrett was “reformulating” its range to cater to customers using the new generation of appetite-suppressing treatments after a surge in demand for healthier snacks and drinks.
It will incorporate more high-protein and functional ingredients such as collagen and ashwagandha into its products after a 34% increase in in food sales year-on-year (The Times).
Supermarket sandwich maker Greencore’s £1.2bn takeover of Bakkavor has sparked fears of 1,500 job losses and factory closures.
Greencore will pay £2 a share for Bakkavor to form a combined food group with annual sales of about £4bn. But around 5% of the combined workforce of 30,500, or 1,525 staff, could be cut.
Trade union Unite called for an urgent meeting with bosses, with national officer Bev Clarkson saying it was ‘bad news’ for consumers as prices are rising, adding ‘fewer competitors will likely lead to faster price rises’ (The Mail).
Marks & Spencer has insisted that its shelves will be well-stocked over the weekend with stock availability “looking better every day” after its recent cyberattack (The Mail).
The UK needs more nuclear energy to power the data centres needed for artificial intelligence, the boss of the world’s largest cloud computing company has said. Matt Garman, chief executive of Amazon Web Services, told the BBC nuclear is a “great solution” to data centres’ energy needs as “an excellent source of zero carbon, 24/7 power”.
Eurovision fans who are hosting or attending a party to mark the occasion plan to spend £76 on average this year, a survey has found. Party costs, covering food, drinks, decorations, fancy dress and entertainment, have risen from an average of £73 last year, according to research comissioned by TopCashback (The Standard).
No comments yet