News

Food inflation in the UK reached 3.5% in March, fueled by early Easter spending on chocolate and sweets, pushing prices higher across supermarket shelves. This surge in inflation comes as supermarkets grapple with maintaining customer loyalty amidst rising cost-of-living pressures, leading to increased promotional spending and a focus on price cuts.

The Financial Conduct Authority (FCA) is challenging a Court of Appeal ruling that could lead to potential compensation claims of up to £44 billion in the UK's motor finance commission scandal. The FCA argues that the ruling goes too far by treating car dealers as fiduciaries, obligated to act in the borrower's best interest.

Ten car manufacturers and two trade associations were fined over £77 million by the UK's CMA for colluding on green advertising practices, limiting consumer access to information about the environmental credentials of vehicles. This case highlights the CMA's commitment to tackling anti-competitive practices that harm consumers and hinder innovation, particularly in the realm of environmental claims.

Sportsman’s Warehouse reported fourth-quarter earnings that beat analyst estimates despite an 8.1% year-over-year decline in total revenue. The company’s strong performance in its core hunting and shooting sports category helped its shares jump nearly 50% in after-hours trading, with management issuing cautious full-year guidance for 2025.

Lucid Group Inc. (LCID) shares are rising on Tuesday, fueled by a surge in orders from former Tesla owners who are reportedly dissatisfied with CEO Elon Musk's recent political involvement. This follows Lucid's better-than-expected fourth-quarter earnings report and a production target of 20,000 vehicles for 2025.