By Asset Allocator Journal Staff
Morrisons has reported a rebound in second-quarter sales after a cyberattack earlier this year disrupted operations, according to Business Matters. The supermarket chain stated that like-for-like sales increased as customer numbers rose and key initiatives took hold. Executives credited strong performance in fresh food and the relaunch of the “More” loyalty card.
The Financial Times reports that an expanding market for uranium has attracted significant investor interest, with funds targeting physical uranium as a hedge against energy transition risks. The revival in demand is partly fueled by nuclear energy’s resurgence in decarbonization plans. Traders have seen increased activity across uranium spot and futures markets.
Payouts tied to the UK’s Post Office Horizon scandal have exceeded £1 billion, per Business Matters. The compensation stems from decades of faulty IT systems that falsely implicated sub-postmasters in financial misconduct. Government officials are pushing to accelerate redress, while public pressure mounts amid ongoing reviews and potential legislation.
The Financial Times details how industrial companies are ramping up their U.S. manufacturing presence in response to government incentives. Firms including Siemens and ABB are expanding production and R&D capabilities, with executives citing the Inflation Reduction Act as a key catalyst. These moves reflect a broader shift toward domestic supply chains.
According to Business Matters, the Bank of England held interest rates steady and warned of persistent global uncertainty. While inflation has eased, policymakers highlighted geopolitical tensions and volatile energy prices as key risks. The central bank also noted continued weakness in UK consumer demand and subdued economic growth.
Shell’s CEO warned that any escalation of conflict between Israel and Iran could have serious consequences for global trade, Business Matters reports. Speaking at a public event, he emphasized that oil market stability hinges on the avoidance of major geopolitical shocks. His remarks come amid broader concerns about energy supply security.
A Financial Times piece highlights slowing demand in Germany’s commercial property sector. Investment volumes have dropped significantly amid high interest rates and broader economic uncertainty. Market participants cite rising financing costs and delayed transactions as key challenges, with retail and office segments most affected.
Business Matters reports that the UK government has removed 10,000 companies from the corporate register in a crackdown on illicit activities. The Companies House enforcement campaign follows broader anti-money laundering efforts and new transparency requirements. Authorities stated the move aims to bolster investor confidence and market integrity.
