A senior figure in the hospitality sector has sent a stark warning to Rachel Reeves ahead of the autumn Budget: “Your taxes are curtailing growth”.

Baton Berisha, chief executive of Gaucho Restaurants, has called for National Insurance Contributions (NICs) to be restored to the level they were before April’s increase and said he had the backing of others in the industry wanting the same.

Pointing to Office for National Statistics (ONS) figures, Mr Berisha highlighted 84,000 jobs have been lost in the hospitality sector since the NICs hike took effect in April 2025 – equating to roughly 13,000 jobs disappearing per month since then.

Whatever weasel words they may use to justify any changes to inheritance tax, the message is clear: you’re better off not making money under Labour, because they will get you in the long run, writes Chris Blackhurst

UK inflation is set to have edged higher last month as summer spending pushed up flight and hotel costs, and food prices continue to climb.

One economist said an “Oasis bump” could have contributed to higher accommodation prices in July.

Consumer Prices Index (CPI) inflation is widely expected to have increased in July, from the 3.6% rate recorded in June, when the Office for National Statistics publishes its latest dataset on Wednesday.

Sanjay Raja, senior economist for Deutsche Bank, said he was estimating that price pressures will have pushed CPI to 3.8% last month.

Pandora has revealed a drop in UK sales as the jewellery brand hiked prices in response to soaring silver and gold costs, and as it prepares to take a financial hit from US tariffs.

The Danish company said it was considering raising its prices further to help mitigate the impact of increased costs.

Its total global revenues were 7.1 billion Danish kroner (£820 million) between April and June, 3% higher than the same period last year when compared like-for-like.

But in the UK, sales dropped 9% year-on-year, which Pandora said partly reflected a weak end-of-season sale.

It is preparing to step up marketing efforts to draw in more customers over the second half of the year.

The employment union Unite are quick to pounce on any company movements and today’s bread-making deal, with Kingsmill’s agreement to purchase Hovis, is no exception.

Unite general secretary Sharon Graham said:

“While there is still a long way to go before any buyout happens, Kingsmill and Hovis must ensure that jobs are protected. Unite represents workers at both companies and we will not tolerate attacks on jobs, pay or conditions. Unite will be working to ensure that Kingsmill and Hovis fully involve the union in any decisions that impact our members.”

Over 65s are are being urged to apply the same habits they rely on when gardening, such as sharing local knowledge and advice, to helping to protect themselves against financial fraud.

Take Five to Stop Fraud has partnered with BBC Gardeners’ World’s Rachel de Thame and the National Allotment Society to launch a new awareness drive called “protect your patch”.

Research commissioned by Take Five among 1,000 people across the UK aged 65-plus found that 94 per cent have either a garden or allotment.

Three in 10 (29 per cent) older people would go to family and friends for gardening tips but only one in 10 (10 per cent) would ask them for tips on financial fraud, according to the survey carried out by Censuswide in July.

Supermarket chain Iceland is set to offer customers a £1 reward for actively spotting and reporting shoplifters in their stores.

Richard Walker, the retailer’s executive chairman, confirmed that shoppers who alert staff to offenders will receive the payment directly to their membership card.

The move comes as the business faces an estimated £20 million annual hit from the cost of shoplifting.

He added the £20 million cost of theft limits the amount that the company can pay back out to its colleague and restrains its ability to lower prices.

If you were celebrating A Level results yesterday – or more probably, if your loved ones were – then it’s soon time to take stock of what’s next.

For those heading to university here are a couple of key pieces to read up on:

And continuing the theme, here are the three Champions League contenders from Chris Beauchamp, chief market analyst at IG:

Alphawave can ride AI-tsunami to challenge for the title this season

Alphawave IP Group sits at the centre of the semiconductor intellectual property boom, providing crucial technology for high-speed data connectivity. The company benefits from megatrends driving global tech infrastructure, with AI, advanced chips, and 5G creating surging demand. A growing international client base, strong order pipeline, and profitable business model position Alphawave for potential “Champions League” status.

SSE has strong options off the bench to help it weather inflationary pressures

SSE occupies prime position in the UK’s green energy transition as a major wind, hydro, and grid operator. The utility combines defensive regulated earnings with long-term growth from decarbonisation investments. Strong policy backing for net zero and proven ability to weather inflationary pressure make SSE one of the most dependable performers for the season ahead.

Fan-favourite Greggs set to keep performing

Greggs continues to outmanoeuvre consumer sector peers through market share gains and operational innovation. The bakery chain has maintained its expansion drive with hundreds of new store openings, while delivery partnerships and menu diversification drive growth. Brand loyalty and adaptability help Greggs maintain momentum despite cost-of-living headwinds, marking it as a “top four” contender.

With the football returning tonight in the Premier League’s opening game of 2025/26, investment platform IG have had themselves a bit of fun – picking out three firms primed for relegation (potentially dropping out of the FTSE 100 or struggling with share price losses) and three who are heading for the Champions League (big possible gains ahead).

Chris Beauchamp, chief market analyst at IG, makes his picks and predictions…

M&S faces struggle amid soaring wage bill and tough competition

Marks & Spencer faces an uphill battle despite modernisation efforts across food and digital channels. Rising wage costs and supply chain pressures continue to squeeze margins, while the general merchandise division remains sluggish. The high street environment stays fiercely competitive, with inventory issues and subdued consumer spending adding to the challenges. M&S needs to demonstrate stronger growth momentum to climb out of the relegation zone.

B&M’s run of poor performance forces manager out

B&M European Value Retail has endured a brutal year, with shares plunging over 50% after weak holiday trading and profit warnings culminated in the CEO’s departure. Discounter competition and margin pressure have intensified, while the push to revamp online operations adds complexity. Cost control and promotional strategies may help stabilise the business, but the market remains unconvinced about any quick turnaround given the tough consumer backdrop.

British Land can’t tempt fans back to the stadium

British Land continues to struggle as weak office demand and elevated borrowing costs squeeze the commercial property giant. London vacancy rates remain stubbornly high, with hybrid working patterns suggesting the office recovery could prove longer and more painful than anticipated. Refinancing risks and sluggish property valuations add further pressure, leaving BLND exposed if economic uncertainty drags on.