Nick Edser

The UK's largest water company saw annual profits increase but its debts also climbed to over £15bn.

Prices in August were down 0.3% from a year ago, the first fall since October 2021, a retail group says.

Sales at its department stores fell in what it calls a "challenging market", but revenues at Waitrose grew.

It could lead to other firms in the supply chain going under, a trade body says.

The chancellor says she is "not satisfied" by the latest growth figures, which were weaker than expected.

Borrowing was £17.4bn last month, the second highest October figure since monthly records began in 1993.

Sales volumes fell by more than expected in October with clothing stores having a "notably poor" month.

It is the second year in a row the company has been fined by the regulator for poor delivery performance.

The £3.6bn deal by Daniel Kretinsky is cleared after agreeing "legally binding" undertakings.

Consumers could face higher costs in the coming months amid falling confidence among UK businesses.