Supermarket chain Iceland will financially reward customers who report incidents of shoplifting, as part of efforts to tackle rising levels of retail theft.
The firm’s executive chairman, Richard Walker, said that shoppers who alert staff to a theft in progress will receive a £1 credit on their Iceland Bonus Card.
The company estimates that shoplifting costs its business around £20m each year.
Mr Walker said this figure not only impacts the company’s bottom line but also limits its ability to reduce prices and reinvest in staff wages.
Iceland told the BBC that the shoplifters don’t necessarily need to be apprehended for customers to receive the £1 reward but will need to be reported and verified.
“We’re encouraging our loyal customers to help sound the alarm, and if they do help to catch a shoplifter, we’ll top up their Bonus Card to spend in store,” Mr Walker said in a statement.
He first made the announcement on Channel 5 News on Thursday.
“Some people see this as a victimless crime, it is not. It’s a cost to the business, to the hours we pay our colleagues, and it involves intimidation and violence,” he said.
He added that encouraging customers to take part in crime prevention could potentially help to reduce prices in stores.
“We’d like customers to help us lower our prices even more by pointing out shoplifters,” Mr Walker said.
Iceland said it does not want customers to directly interact with any shoplifters, but suggests they find the nearest member of staff and alert them with a detailed description of the suspected shoplifter.
The announcement comes amid a steep rise in shoplifting across England and Wales.
According to the Office for National Statistics, police recorded 530,643 shoplifting offences in the year to March 2025.
That’s a 20% increase from 444,022 in the previous year, and the highest figure since current recording practices began in 2002-03.
In response to the growing concerns, the government has pledged to increase neighbourhood policing, promising thousands more officers on patrol by spring 2026.
Welcome to this edition of the FP Manufacturing Snapshot, where we take a quick look at a recent significant workplace law development with an emphasis on how it impacts employers in the manufacturing sector. This edition is devoted to the “One Big Beautiful Bill Act” (OBBBA) – and its projected impact on manufacturers. Read on to find out what you need to do as a result of this legislation.
Snapshot Look at “The Big Beautiful Bill”
The OBBBA, which President Trump signed into law on July 4, is a comprehensive federal statute that will reshape key areas across the economy. The OBBBA includes tax code changes designed to encourage investment in US facilities and equipment. It also introduced significant changes to border and immigration enforcement, which is expected to have a major impact on the labor market.
This Snapshot will focus on the aspects most relevant to manufacturing industry employers, but for a deeper dive, you can read our full Insight here. The OBBBA’s most direct impact on manufacturing involves tariffs and tax incentives aimed at “reshoring” production, which we’ll discuss in more detail below.
4 Key Points for Manufacturers
1. Tax Incentives: The new bill includes a significant tax break that applies to investments in machinery and equipment integral to manufacturing processes and certain plant modernization efforts. Manufacturers who are planning to expand their domestic footprint or upgrade their lines in the next few years should review these provisions carefully, as they could dramatically reduce the after-tax cost of these capital expenditures.
2. Tariffs: Conversely, the bill’s tariffs on imported goods – including steel, aluminum, and other common components used in domestic manufacturing operations – could increase costs for domestic producers that rely on global supply chains. Manufacturers should review sourcing strategies and be prepared for potential price volatility.
3. Immigration Enforcement: The legislation includes a major increase in funding for immigration and border enforcement. For manufacturers, particularly those that have historically relied on a foreign-born workforce, this could make talent acquisition and employee retention more difficult. It may also prompt a review of internal compliance standards, as well as employee handbooks and policies, to ensure everything is up to date and staff is following appropriate procedures.
4. Contract Review: Manufacturers should also be mindful of the OBBBA’s potential impact on contracts, as new tariffs and trade policies could compel renegotiations with foreign suppliers and partners.
Conclusion
Manufacturers should understand the full scope of the OBBBA’s changes and consult with legal counsel to ensure you are prepared. We will continue monitoring workplace law developments as they apply to the OBBBA, so make sure you are subscribed to Fisher Phillips’ Insight System to have the most up-to-date information sent directly to your inbox. If you have questions, contact your Fisher Phillips attorney, the author of this Insight, or any attorney on our Manufacturing Industry Team.
Ok, we’ve yet to confront the real elephant in the room: Powell’s tug-of-war with the White House over Fed independence. September’s meeting could be explosive.
Treasury Secretary Scott Bessent wants a bold 50bp cut. But as James K asked in our webinar, could Trump’s temporary appointee Stephen Miran push for even more – and would Fed board members like Christopher Waller or Michelle Bowman, both seen as future Chair contenders, follow suit?
That may be unlikely, and Miran may not even be confirmed in time. And the latest data doesn’t scream a need to go bold just yet.
Still, his brief stint could preview how the board might respond to a dovish Chair. Would they fall in line or resist? And would Powell stay on?
At Jackson Hole, though, Powell faces a more immediate challenge. A September rate cut is fully priced by financial markets. Does he push back?
Ideally, the Fed wants flexibility, especially with one more jobs and inflation report due. But signalling that now means guessing the data – something Powell won’t want to do. And that’s before considering whether he can shake market conviction in a September cut, even if he wanted to.
Where investors are more divided, it seems, is on what happens beyond September. This week’s webinar audience was roughly equally split three ways in expecting either one, two or three cuts through the remainder of this year. We’re very much in the latter camp, looking for a slightly more rapid string of cuts than markets currently expect.
That’s it for this week, but if you missed our webinar on Tuesday, check out the highlights below or watch the full thing to your heart’s content here.
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August 15, 2025
Federal Reserve Board announces it will sunset its novel activities supervision program and return to monitoring banks’ novel activities through the normal supervisory process
For release at 12:00 p.m. EDT
The Federal Reserve Board on Friday announced that it will sunset its novel activities supervision program and return to monitoring banks’ novel activities through the normal supervisory process.
Since the Board started its program to supervise certain crypto and fintech activities in banks, the Board has strengthened its understanding of those activities, related risks, and bank risk management practices. As a result, the Board is integrating that knowledge and the supervision of those activities back into the standard supervisory process and is rescinding its 2023 supervisory letter creating the program.
For media inquiries, please email [email protected] or call 202-452-2955.
(Bloomberg) — Wall Street traders sent stocks down from all-time highs, with a weak reading on consumer sentiment and an increase in inflation expectations tempering optimism about solid retail sales.
The end of a week that saw investors juggling contradictory signs on the inflation front also brought inconclusive indications about how Americans are feeling about the economy. Following a a 30% surge from its April lows, the S&P 500 retreated.
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Treasuries fell across the curve, with longer-dated maturities leading the way. Attention will soon shift to next week’s central bank gathering in Jackson Hole, Wyoming, with traders getting ready for Jerome Powell’s speech.
US retail sales rose in July in a broad-based advance, boosted by car sales and major online promotions. Later, a separate report showed consumer sentiment unexpectedly fell for the first time since April and inflation expectations rose.
“Overall, consumers are no longer bracing for the worst-case scenario for the economy feared in April,” said Peter Boockvar, author of The Boock Report. “However, consumers continue to expect both inflation and unemployment to deteriorate in the future.”
To Bill Adams at Comerica Bank, while the data don’t all point in the same direction, the US economy looks to be in OK shape.
“What consumers do is more important to the economy than what they say,” he said.
Investors also awaited a face-to-face summit between Donald Trump and Vladimir Putin in Alaska due to start at 3 p.m. New York time.
To Bret Kenwell at eToro, July’s retail sales figures weren’t necessarily a blowout. However, control group sales — which are used in the gross domestic product calculation — topped economists’ expectations, while June’s already strong report was revised even higher.
Retailers will start reporting earnings next week, which should provide more insights into consumer behavior, he noted.
As long as consumer spending holds up and companies are able to retain workers because of that robust spending, the flywheel can continue to spin, pushing corporate profits and stock prices higher, according to Chris Zaccarelli at Northlight Asset Management.
US stocks are set to decline in the event of dovish signals from the Federal Reserve at the Jackson Hole economic symposium as investors “buy rumor, sell fact,” according to Bank of America Corp. strategists led by Michael Hartnett.
Money markets still see high odds of a Fed rate cut in September, with at least two reductions by the end of the year.
Investors poured about $21 billion into US equity funds in the week through Aug. 13, after redeeming nearly $28 billion in the week prior, according to the note citing EPFR Global data.
Corporate Highlights:
The Trump administration is considering using funds from the US Chips Act to take a stake in the beleaguered American chipmaker Intel Corp., according to people familiar with the discussions. Applied Materials Inc., the largest American producer of chipmaking gear, gave a disappointing sales and profit forecast, renewing concerns that the US trade dispute with China is weighing on demand. UnitedHealth Group Inc. jumped after funds piled into the company, which has been hampered by a federal probe into its business practices and weakening results. Warren Buffett’s Berkshire Hathaway Inc. was among the investors, buying 5 million shares, according to a filing. David Tepper’s Appaloosa Management LP also invested, boosting its holdings of the health insurance giant by 2.3 million shares. Swiss chocolatier Lindt & Spruengli AG may shift production of its world-famous, gold-wrapped Easter bunnies to the US to sidestep import tariffs. Danish jewelry company Pandora A/S is weighing potential price increases in the US due to higher tariffs, according to its chief executive officer. AstraZeneca Plc released its flu vaccine nasal spray for at-home use on Friday, an option that comes at a contentious time for vaccine access in the US. Some of the moves in markets:
Stocks
The S&P 500 fell 0.3% as of 12 p.m. New York time The Nasdaq 100 fell 0.5% The Dow Jones Industrial Average rose 0.2% The Stoxx Europe 600 was little changed The MSCI World Index was little changed Bloomberg Magnificent 7 Total Return Index fell 0.3% The Russell 2000 Index fell 0.6% Currencies
The Bloomberg Dollar Spot Index fell 0.3% The euro rose 0.5% to $1.1706 The British pound rose 0.2% to $1.3562 The Japanese yen rose 0.5% to 147.01 per dollar Cryptocurrencies
Bitcoin fell 0.5% to $117,352.15 Ether fell 2.3% to $4,431.94 Bonds
The yield on 10-year Treasuries advanced three basis points to 4.32% Germany’s 10-year yield advanced eight basis points to 2.79% Britain’s 10-year yield advanced five basis points to 4.70% The yield on 2-year Treasuries advanced one basis point to 3.75% The yield on 30-year Treasuries advanced four basis points to 4.92% Commodities
Microsoft has launched an “urgent” external inquiry into allegations Israel’s military surveillance agency has used the company’s technology to facilitate the mass surveillance of Palestinians.
The company said on Friday the formal review was in response to a Guardian investigation that revealed how the Unit 8200 spy agency has relied on Microsoft’s Azure cloud platform to store a vast collection of everyday Palestinian mobile phone calls.
The joint investigation with the Israeli-Palestinian publication +972 Magazine and the Hebrew-language outlet Local Call found Unit 8200 made use of a customised and segregated area within Azure to store recordings of millions of calls made daily in Gaza and the West Bank.
In a statement, Microsoft said “using Azure for the storage of data files of phone calls obtained through broad or mass surveillance of civilians in Gaza and the West Bank” would be prohibited by its terms of service.
The inquiry, to be overseen by lawyers at the US firm Covington & Burling, is the second external review commissioned by Microsoft into the use of its technology by the Israeli military.
The first was launched this year amid dissent within the company and reports by the Guardian and others about Israel’s reliance on the company’s technology during its offensive in Gaza. Announcing the review’s findings in May, Microsoft said it had “found no evidence to date” the Israeli military had failed to comply with its terms of service or used Azure “to target or harm people” in Gaza.
However, the recent Guardian investigation prompted concerns among senior Microsoft executives about whether some of its Israel-based employees may have concealed information about how Unit 8200 uses Azure when questioned as part of the review.
Microsoft said on Friday the new inquiry would expand on the earlier one, adding: “Microsoft appreciates that the Guardian’s recent report raises additional and precise allegations that merit a full and urgent review.”
The company is also facing pressure from a worker-led campaign group, No Azure for Apartheid, which has accused it of “complicity in genocide and apartheid” and demanded it cut off “all ties to the Israeli military” and make them publicly known.
Since the Guardian and its partners, +972 and Local Call, revealed Unit 8200’s sweeping surveillance project last week, Microsoft has been scrambling to assess what data the unit holds in Azure.
Several Microsoft sources familiar with internal deliberations said the company’s leadership was concerned by information from Unit 8200 sources interviewed for the article, including claims that intelligence drawn from repositories of phone calls held in Azure had been used to research and identify bombing targets in Gaza.
Israel’s 22-month bombardment of the territory, launched after the Hamas-led attack on 7 October 2023, has killed more than 60,000 people, the majority of them civilians, according to the health authority in the territory, though the actual death toll is likely to be significantly higher.
Senior Microsoft executives had in recent days considered an awkward scenario in which Unit 8200, an important and sensitive customer, could be in breach of the company’s terms of service and human rights commitments, sources said.
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According to leaked files reviewed by the Guardian, the company was aware as early as late 2021 that Unit 8200 planned to move large volumes of sensitive and classified intelligence data into Azure.
At Microsoft’s headquarters in November that year, senior executives – including its chief executive, Satya Nadella – attended a meeting during which Unit 8200’s commander discussed a plan to move as much as 70% of its data into the cloud platform.
The company has said its executives, including Nadella, were not aware Unit 8200 planned to use or ultimately used Azure to store the content of intercepted Palestinian calls. “We have no information related to the data stored in the customer’s cloud environment,” a spokesperson said last week.
An Israeli military spokesperson has previously said its work with companies such as Microsoft is “conducted based on regulated and legally supervised agreements” and the military “operates in accordance with international law”.
The new inquiry will examine the military’s commercial agreements with Microsoft. Once completed, the company will “share with the public the factual findings that result from this review”, its statement said.
