1 Falling petrol prices came to the rescue of cash strapped households last month as inflation dropped to 2.6 per cent, taking some of the pressure off squeezed personal finances. The consumer prices index surprised markets by declining more than expected from 2.9 per cent in May, against forecasts for no change.
2 Sharply slowing house price growth in the south and the east of England is narrowing the regional divide as the property market across the country continues to stall. Price growth in London, the southeast and the east experienced the steepest falls in May compared with last year as only the east Midlands and Scotland bucked the trend, according to the Office for National Statistics.
3 A sharp fall in the pound just before surprisingly weak inflation data has raised fresh concerns about leaks from the Office for National Statistics just weeks after strict new rules on access were unveiled to address the threat.
4 21st Century Fox has written to the government urging it to reject the “most blatant form of political interference” by Ed Miliband and Sir Vince Cable in its proposed £11.7 billion offer for Sky.
5 Dairy Crest said that the soaring cost of butter had prompted it to cut back on promoting Country Life, the brand famously advertised by John Lydon, aka the former Sex Pistol Johnny Rotten. It said that it was willing to take a hit on butter sales after the cost of cream had “increased substantially”.
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6 Britain’s growing addiction to internet shopping has brought Royal Mail postal deliveries a 5 per cent surge in parcel volumes. The news from the privatised postal group’s most important market sent shares in the group, widely held by the public and employees, up among the leaders in the FTSE 100.
7 The Pensions Regulator has warned that it could prosecute more companies and individuals who fail to provide information as part of its investigations.
8 British Land, the property developer, has signalled its confidence in the value of its property portfolio post-Brexit with the announcement of a £300 million plan to buy back its own shares instead of investing in new buildings.
9 Imperial College London has ended months of silence to back a controversial takeover bid for Touchstone Innovations, the AIM-quoted technology transfer company spun out of its laboratories more than three decades ago.
10 A sharp decline in bond trading helped to push Goldman Sachs’ revered trading desk to its second torrid quarter in a row, weighing on an otherwise solid performance by the Wall Street investment bank.