Co-op could face investigation into Southern Co-op deal over competition fears

🔮 Under the triple lock guarantee, the state pension increases every April in line with whichever is the highest of total earnings growth in the year from May to July of the previous year, CPI (Consumer Prices Index) inflation in September of the previous year, or 2.5%.

🔮 Thomas Pugh, chief economist at RSM UK, said that despite ongoing weakness, the statistics show signs of stabilisation in the jobs market, which may give the Bank room to increase rates to combat inflation in the coming months.

🔮 Under the triple lock guarantee, the state pension increases every April in line with whichever is the highest of total earnings growth in the year from May to July of the previous year, CPI (Consumer Prices Index) inflation in September of the previous year, or 2.5%.

🔮 IEA slashes global oil demand and supply forecast again as Iran war intensifies The Paris-based agency said in its monthly report that the “impasse in negotiations between the United States and Iran” and renewed attacks in the region would “hamper the normalisation of oil flows”.

🔮 Co-op could face investigation into Southern Co-op deal over competition fears

🔮 The group said Lisa Jacobs is set to leave “no later” than September 2027 and will now kick off the search for her replacement.

🔮 The cuts are largely expected to impact office roles, with the majority of job losses affecting its UK operations, where around 34,000 staff in total are based.

🔮 Applied Nutrition hikes outlook after revenues jump 50% Applied Nutrition has hiked its earnings outlook thanks to a 50% surge in sales and forecast more growth over the year ahead despite pressure from rising whey prices. The health and wellness brand – which is backed by TV personality Coleen Rooney – said it now expects annual underlying earnings to jump by 40% to around £43.3 million after sales soared to £160 million in the year to July 31, up from £107 million the previous year.

🔮 It comes as Ofgem is expected on Wednesday to announce an increase in the energy price cap from October 1, with latest forecasts pointing to a 4% rise just as many households will turn on their heating.

🔮 Thames Water lenders plan board overhaul if rescue bid approved Thames Water’s creditors have revealed plans to appoint four new directors to the board of the stricken supplier if their rescue bid is given the green light to avoid it being nationalised. Former Yorkshire Water chief executive Liz Barber is among the first tranche of proposed non-executive directors unveiled by the London & Valley Water consortium as it looks to secure Government backing for the deal. Infrastructure expert Mike McTighe has already been named as the proposed new chairman of Thames Water should the bid be accepted, which would see him replace incumbent Sir Adrian Montague. Details of the proposed board members are seen as an effort to reassure the Government over governance and leadership of Britain’s biggest water supplier should the rescue bid be approved, amid growing calls for it to be nationalised.