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Several major UK food and beverage brands report financial losses amid rising costs and industry pressures. Pret a Manger plans to test meal deals to boost sales, while Tesco and others increase prices. Meanwhile, the parent companies of Pret and Costa face impairments and potential sales, reflecting broader economic challenges.
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European regulators and the UK CMA have designated Google as having 'strategic market status' in search and advertising, citing its dominant market power. This allows for potential targeted regulations aimed at promoting competition, amid concerns over AI features like AI Overviews impacting publishers' revenues and visibility.
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The CMA found pet owners overpay for veterinary treatments and lack price transparency. It proposes requiring vet practices to publish prices, clarify ownership, and cap prescription fees to improve consumer choice amid rising costs and industry consolidation.
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The UK's Competition and Markets Authority (CMA) has launched investigations into eight companies, including ticket sites, gyms, and retailers, over suspected breaches of consumer law related to misleading pricing, fees, and sales tactics. This marks the first use of new consumer protection powers.
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Pets at Home, facing a 33.5% drop in half-year profits, is implementing a retail turnaround plan focused on cost-cutting, product, and pricing strategies. The company is seeking a new CEO as it aims to restore growth after a significant profit decline, with ongoing efforts to improve its retail business.