M&S stunned by a cyberattack halting online sales; profits gutted this half-year. UK retailer with a 140+ year history, famed for clothes and food.
Retailers in the UK, especially in London, report a sharp increase in shoplifting, violence, and anti-social behaviour. Major stores like M&S demand stronger police response and government intervention amid violent incidents linked to social media trends. Authorities are working to clamp down on online content promoting violence.
Retail crime, rising energy costs, and geopolitical tensions are impacting UK retailers. Despite efforts to control prices, companies report increased costs and uncertain profits. The government is responding with police recruitment and legislation to address retail crime, while energy and supply chain issues continue to challenge the sector.
The UK is increasing efforts to defend its offshore energy infrastructure against physical and cyber threats. Recent exercises test responses to vessel, drone, and activist threats, following reports of Russian submarine activity. Experts warn that geopolitical tensions and technological advances will intensify security challenges.
Retailers and economists are scrutinising a Treasury idea to cap prices on staples. M&S's Stuart Machin dismisses the concept as preposterous, arguing it could distort markets and hurt supply. Ministers say any plan is not mandatory and will focus on keeping costs down for households amid high inflation.
Markets have moved higher amid updates on talks with Iran, with major indices rallying and Brent and WTI crude easing after the latest comments from Washington. UK stocks closed higher as investors digest political signals and IMF projections, while policy discussions continue across Europe.