retail sales

M&G global head of retail sales says industry is awash with mediocrity, which must be eradicated.

Retailer prospects

US shares have built on yesterday's gains in early trading after data showed US retail sales posted their biggest gain for four months in July.

London's leading share index has slipped back mid-afternoon following disappointing news from consumer stocks, and a muted opening in the US.

UK retail sales slipped 0.8% in February compared to the previous month, according to the Office for National Statistics (ONS).

The Dow Jones is trading in the red after lower than expected US retail sales figures weighed on investor sentiment.

The government says it will increase the levy on bank profits to £2.5bn this year, to raise an extra £800m for the public purse.

Fears of a double-dip recession appear to have receded after the high street enjoyed surprisingly robust trading last month, boosted by continued hefty discounting and catch-up shopping after December's snow.

Ocado has revealed its shares have risen to an all-time high following a grim performance after the firm floated last July.

China's inflation rate hit a two-year high in October at 4.4%, driven by an increase in food prices.