Business
Shop price inflation eases but food costs still 3.5% up on a year ago
Shop price inflation eased in February but consumers are still paying 3.5% more for food than a year ago, figures show.
Overall shop inflation fell slightly to 1.1% from January’s 1.5%, in line with the three-month average of 1.1%, as fierce competition between retailers kept price rises in check and customers benefited from promotions across health, beauty and fashion, according to the British Retail Consortium (BRC) and NIQ.
Prices of products other than food were down 0.1% year on year, a significant drop from January’s growth of 0.3%.
Overall food inflation fell slightly to 3.5% from 3.9% in January, while fresh food prices remained 4.3% higher than last February, a slight drop from January’s 4.4% and above the three-month average of 4.2%.
However falling global costs pushed ambient food inflation down to 2.3% – its lowest level in four years and a significant fall from January’s 3.1%.
BRC chief executive Helen Dickinson said: “Households got some welcome relief in February as shop price inflation eased.
“While the direction of travel is promising, prices are still rising, and many consumers remain under pressure.”
Mike Watkins, head of retailer and business insight at NIQ, said: “Since the start of the year, we have seen some competitive pricing across both the food and non-food channels which is helping to bring down inflation.
“Whilst the inclement weather and weak sentiment is making consumer demand rather unpredictable for retailers, at least shoppers are now seeing some of their cost-of-living pressures start to ease.”
Business
Amid disputes, Singh skips Tata trust meeting – The Times of India
MUMBAI: Vijay Singh, a former Indian defence secretary whose eligibility as a trustee has come under legal challenge, absented himself from the board meeting of the Bai Hirabai Jamsetji Tata Navsari Charitable Institution on Friday, the latest sign of an intensifying governance dispute within India’s most powerful philanthropic network.The challenge was brought by Mehli Mistry, a former trustee, before the Maharashtra charity commissioner, questioning the appointments of Singh and Venu Srinivasan as trustees of Bai Hirabai. Mistry cited clauses in the 1923 trust deed requiring all trustees to be Zoroastrians and permanent residents of Mumbai, and argued that neither of them met those conditions.Srinivasan, chairman emeritus of TVS Motors, stepped down citing other commitments, but later acknowledged he had done so at the request of Tata Trusts management. Singh declined a similar request. Those present at the Friday meeting included chairman Noel Tata, trustees Darius Khambata and Jehangir HC Jehangir, the last of whom joined by video conference from Europe. Jimmy Tata, Noel’s older half-brother and a fellow trustee, was again absent. Singh confirmed he did not attend the meeting. A person familiar with the proceedings said the board discussed, among other matters, Mistry’s objections and next steps.The dispute has exposed a deeper legal tension. Both Srinivasan and Singh alleged that Tata Trusts had withheld from them a legal opinion by former chief justice of India MH Kania, who held that the restrictive eligibility clauses in Bai Hirabai’s trust deed were “bad in law.” That interpretation had previously allowed former Tata Group director RK Krishnakumar to be inducted onto the board. Tata Trusts said irrespective of that opinion and past precedent, appointments of non-Zoroastrians remained open to challenge under the deed’s provisions, adding that a legal opinion did not substitute for a judicial pronouncement. The commissioner has yet to order a formal inquiry. Bai Hirabai was endowed by Sir Ratan Tata, younger son of Tata Group founder Jamsetji Tata, who bequeathed properties in Mumbai and Navsari to the institution, the provenance that gives its century-old deed its continuing legal force.
Business
‘Big four’ mobile firms outperformed by smaller rivals in annual survey
The UK’s biggest mobile providers have been outperformed by smaller rivals in an annual customer service survey by watchdog Which?
Three, O2 and Lycamobile were the lowest performing networks in the survey of more than 5,000 mobile users, receiving customer scores of 65%, 67% and 68% respectively.
Three received a two-star rating in every category including network reliability and technical support, the consumer group found.
O2 received just two stars for value for money and customer service, shortly after it increased its annual price rises from £1.80 to £2.50 a month for all customers.
Lycamobile received four stars for value for money but two stars in every other category.
EE and Vodafone achieved scores of 74% and 72% respectively, although Which? described them as “stuck in the middle to lower reaches of the table”.
Talkmobile topped the rankings with a customer score of 83% followed by Tesco Mobile on 81%, with both impressing customers with their network reliability, customer service and value for money.
Other top-rated networks included Giffgaff and Smarty, which both received a score of 79%, driven by their flexibility and affordable Sim-only deals.
Lebara and 1pMobile both achieved a score of 78%, with customers praising 1pMobile’s network reliability and value for money and Lebara earning five stars for value for money.
According to the survey, respondents using one of the ‘big four’ – EE, O2, Three and Vodafone – paid an average of £16 for a Sim-only contract, compared with just £9 on smaller networks.
For contracts including a phone, users paid an average £40 with the ‘big four’ compared with £28 with smaller providers.
Many smaller firms use the infrastructure of the ‘big four’, meaning customers often receive the same signal and coverage.
Which? head of home products and services, Natalie Hitchins, said: “Our latest research shows that smaller providers are consistently outshining the industry’s largest mobile firms by offering better customer service and far cheaper deals.
“Many top-rated challengers avoid mid-contract price hikes, offering households struggling with the cost of living much-needed certainty.
“Any customers nearing the end of their contract who are unhappy with their service, or simply looking to save money, should not hesitate to vote with their feet and move to a provider that actually delivers on value.”
Business
India supplies 40% of US smartphone imports, replaces China: Report – The Times of India
India is rapidly strengthening its position in global electronics trade, now supplying about 40 per cent of the smartphones imported by the United States that were previously sourced from China.According to a recent report by McKinsey & Company, cited by ANI, the United States has been actively diversifying its import sources and has replaced about two-thirds of the goods it previously sourced from China, valued at more than $80 billion. India and ASEAN economies have played a significant role in this shift.“India, for example, increased smartphone exports to the United States to levels equal to roughly 40 per cent of what China had supplied,” the report stated.India’s rise in smartphone exports has been particularly notable, with shipments to the US increasing sharply despite the long geographical distance of around 13,000 kilometers. This reflects the country’s growing role in global electronics manufacturing and supply chains.The report also highlighted that ASEAN economies replaced about two-thirds of US laptop imports that had earlier come from China, pointing to a broader shift in manufacturing bases across Asia.It noted that global trade remained resilient in 2025 despite concerns of a slowdown. Both US imports and Chinese exports reached new highs during the year, while overall global trade grew faster than the global economy.Among emerging economies, India stood out for expanding trade across regions. However, while overall exports remained largely unchanged, smartphones were a key exception and drove export growth.The report said the shift in trade patterns is being driven by domestic priorities and geopolitical realignments. Advanced economies and China are increasingly reorienting trade away from geopolitically distant partners, while emerging economies like India continue to expand trade across markets.It also pointed to changes in other regions. ASEAN strengthened its position as a manufacturing hub by importing more inputs from China and exporting finished goods to the United States. Brazil increased commodity exports to China, replacing goods that China had earlier sourced from the US.
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