Shoppers using buy now, pay later will need to pass stricter affordability checks under new rules coming unto force next July (BBC News). Regulators say this will help prevent people from taking on too much debt and being caught out by late payment fees. The BBC spoke to one user who said that the option made life easier but the debt “could easily and quickly mount up”.
This was also reported in The Guardian which outlined that the new proposals from the Financial Conduct Authority would require firms to offer support to customers in financial difficulty. Borrowers would also be able to complain to the financial ombudsman service if something goes wrong.
M&S has restated its Sparks loyalty scheme benefits for shoppers, The Guardian reports. Following a cyber attack the Sparks scheme was suspended but now customers can access the full range of benefits from the scheme again. Staff were also offered a brief “thank you” discount as it moved back to full operations. The Grocer revealed Sparks rewards had returned on Tuesday and also covered yesterday’s announcement of the news by the retailer.
Elsewhere in M&S, The Standard reported the retailer had introduced invisible, ultraviolet tags on some milk bottles to track them through the recycling system. The tags have been printed on the labels of M&S’ four-pint milk bottles available nationwide, with the aim of boosting recycling rates. Once recycled by households, bottles will be scanned by Polytag’s plastic detection units if the recycling facility has been retrofitted with the technology.
A hosepipe and sprinkler ban has come into force from South East Water, impacted more than 1.4 million people (BBC News). The temporary ban will affect households in Kent, East Sussex and West Sussex, the firm said.
Meanwhile, the water industry has been accused of damaging Britain’s economy in The Telegraph today. The water industry’s failure to build new reservoirs is leading to delays in housebuilding and slowing economic growth, MPs have warned.
Coca-Cola has defended its use of corn sysrup after Donald Trump claimed he had struck a cane sugar deal, The Guardian reported. Sugar cane is used in Mexico and the UK by Coca-Cola but in the US it still uses corn syrup. The brand said that it was safe and had a similar number of calories as table sugar and was metabolised in a similar way.
Three months of growth in the Scottish retail sector “fizzled out” in June, analysts have found (Standard). Total sales in Scotland decreased by 0.4% compared to June 2024, where they had also decreased by 3.4%, according to the Scottish Retail Sales Monitor.
The Times has reported that hospitality and retail jobs have “plummeted” since Rachel Reeves’s budget. According to analysis of employment in pubs, bars and supermarkets, businesses have cut staff since the chancellor increased national insurance contributions.
Children under seven years old should not have shop-bought slushies over health concerns about a chemical they contain, the Food Standards Agency (FSA) has said. The government watchdog said slushed ice drinks containing glycerol - a type of sweetener - were unsafe for young children, and consumption of them should be limited for children aged between seven and 10 (BBC News).
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