Business

Travelodge boss resigns amid criticism over handling of assaults; oil price tops $93 a barrel – business live
Posted on Thursday August 20, 2026

Joanna Boydell has quit as budget hotel chain scrambles to improve safety

Meanwhile, the UK’s sports fashion retailer JD Sports has slashed its profit forecasts as cost-of-living pressures, fuelled by the US war on Iran, weighed on sales of trainers.

JD Sports, which sells a range of sports brands including Nike and Adidas, said widespread inflation had hit shoppers’ wallets, resulting in falling sales across important markets such as the US, where it struggled to quickly shift trainers and other footwear.

Buying back more long-dated debt should ease pressure on longer-term yields, helping households through lower mortgage rates and corporations through lower borrowing costs. That’s positive.

For the dollar, lower long-term yields are initially negative, as they reduce the attractiveness of US assets to international investors. That’s partly why the dollar sold off so aggressively yesterday.

Sales of trainers dive at JD Sports as cost of living pressures bite
Posted on Thursday August 20, 2026

Inflation deterring shoppers from spending, especially in the US, says high street chain

The sports fashion retailer JD has cut its profit forecasts as cost of living pressures, fuelled by the US war on Iran, weighed on sales of trainers.

JD Sports, which sells brands including Nike and Adidas, said widespread inflation had hit shoppers’ wallets, resulting in a drop in sales across important markets such as the US, where it struggled to shift trainers and other footwear.

Oxfam ‘can’t guarantee future’ of charity shops as it also reviews warehouse business
Posted on Thursday August 20, 2026

Dwindling donations and stiff competition from secondhand sellers online prompt review but ‘no plans for closures yet’

Oxfam is reviewing the operations of its three warehouses in Batley, Bicester and Milton Keynes and says it “cannot give guarantees” on the future of its high street shops in a “difficult economic climate”.

The charity said it had no plans to close warehouses or shops but insiders fear that Batley, which houses Oxfam’s main textile recycling centre, will shut as part of a cost-cutting drive because the West Yorkshire site’s lease is up for renewal.

US gross national debt tops $40tn for first time
Posted on Wednesday August 19, 2026

Milestone marks years of government spending that grew under both Donald Trump and Joe Biden

US debt reached $40tn for the first time on Wednesday, the US treasury department said, after the government deficit doubled over the last decade.

The treasury’s latest debt balance showed $40.047tn on Tuesday afternoon, the highest in US history.

Lewes derailment: images show track defect before incident on hottest day
Posted on Wednesday August 19, 2026

Network Rail and Southern owner GTR apologise after investigators reveal picture of possible heat-buckled track

Rail operators have apologised after a report into last Thursday’s derailment in East Sussex found a track defect on the approach to where the train derailed on the hottest day of the year so far.

An interim report by the Rail Accident Investigation Branch (RAIB) said CCTV images showed the “track geometry irregularity” existed before the incident near Lewes injured 30 people.

British energy bills forecast to hit three-year high this winter
Posted on Wednesday August 19, 2026

Expected quarterly price cap rise of 4% likely to wipe out benefits of Andy Burnham’s VAT cut on electricity bills

Household energy bills across Great Britain are expected to climb to a three-year high this winter as the impact of the Middle East war wipes out Andy Burnham’s tax cut on electricity bills.

The government’s cap on energy prices is on track to rise by 4% from this October to the equivalent of £1,729 a year through the last three months of 2026, which could hit struggling households especially hard this winter, according to analysis by the energy consultancy Cornwall Insight.

Jaecoo owner Chery takes ‘next step’ in UK push with R&D centre
Posted on Wednesday August 19, 2026

Owner of firm behind ‘Temu Range Rover’ will open facility in Bedfordshire in autumn

The Chinese carmaker behind the irreverently nicknamed “Temu Range Rover” is plotting further UK expansion with a major research and development centre in England.

Chery, which makes the Jaecoo and Omoda car brands, said the launch of a new R&D site was “the next step in our long-term plan” for Britain as it also moves towards manufacturing its cars in the UK.