Markets and farm shops among targets of organised crime gangs, say experts

Small food producers are increasingly being targeted by organised crime gangs and rogue industry insiders looking to exploit national and global supply chain challenges , according to food crime experts.The warning comes after several food businesses in the UK and continental Europe revealed how they had lost hundreds of thousands of pounds in scams where thieves apparently posed as legitimate buyers.The experts said the number and scale of these thefts had increased in recent years because of pressures on the food supply chain caused by the pandemic, Brexit, the war in Ukraine, and global heating.They added that criminals were targeting smaller food businesses, including producers, smallholdings, farmers’ markets and farm shops, because they often lacked the resources to carry out due diligence.Dr Kreseda Smith, a lecturer in rural criminology at Harper-Adams University, said: “There’s certainly been an increase in larger thefts and the number of offences

Trump’s trade tariffs: how protectionist US policies will hit German carmakers

In 1964 the new US president was angry about European trade. Specifically about chickens. In response to Europe’s poultry trade barriers, Lyndon B Johnson imposed a 25% tariff on light trucks.That “chicken tax” is still in place 60 years later. The rules have contributed to the Ford’s F-Series pickup truck’s unbroken 42-year run as the bestselling vehicle in the US, and have locked European manufacturers out of a hugely profitable market for two generations

Shares in UK retailers fall as sector counts cost of NICs tax rise – as it happened

Shares in UK retailers have dropped this morning, as they continue to count the cost of last week’s budget.Marks & Spencer (-4.5%), JD Sports (-2.7%) and Tesco (-2.5%) are all among the fallers on the FTSE 100 today, pulling it down to a three-month low

Asda boss says £100m hit from Labour budget could affect wages and hiring

Asda has warned that measures in the government’s budget will be a “big burden” for the supermarket chain, costing it £100m, and could prevent it from raising wages or hiring as many staff, as it struggles to turn around falling sales.The company made the warning on Friday as other UK retailers’ share prices took a hit as stock market investors continued to digest the implications of the changes to employers’ national insurance contributions (NICs) announced in the Labour chancellor Rachel Reeves’s first budget.Marks & Spencer (-4.8%), JD Sports (-2.6%) and Tesco (-1%) were among the fallers on the FTSE 100, pulling it down to a three-month low

China unveils 10tn yuan support for debt-stricken local government

China has announced 10tn yuan in debt support for local governments and other economic measures, but stopped short of the “bazooka” stimulus package that many analysts had expected.The fiscal package included raising debt ceilings for local governments by 6tn yuan (£646bn) over three years, so they could replace hidden debt, which authorities said stood at 14.3tn yuan by the end of 2023.Hidden debt is borrowing for which a government is liable but is not disclosed to citizens or other creditors, according to the International Monetary Fund.Authorities said the new measures would cut that debt to 2

NHS-branded baby formula could prevent parents paying too much, watchdog says

The government could offer its own low-cost baby formula under a brand such as the NHS to combat the high prices and lack of choice in the market, the UK competition watchdog has suggested.The Competition and Markets Authority (CMA) said another “backstop” measure could be for the government to regulate and set a price or profit-margin cap on retailers as a way to bring prices down for parents more quickly.The potential measures formed part of the CMA’s interim report on the infant formula market after the watchdog identified that a lack of competition in the market had led to soaring prices, taking advantage of an ingrained belief among parents that higher cost equates to better quality for their children.The CMA report set out a number of potential recommendations including extending the ban on the advertising of infant formula to follow-on formula, or going as far as “prohibiting all brand-related advertising”.Sarah Cardell, the chief executive of the CMA, said: “We’re concerned that companies don’t compete strongly on price and many parents – who may be choosing infant formula in vulnerable circumstances and without clear information – opt for more expensive products, equating higher costs with better quality for their baby