Category: 3. Business

Sales at UK retailers unexpectedly rose last month to their highest level since July 2022, according to official figures, boosted by tech purchases amid the release of the new iPhone 17 as well as strong online demand for gold.

Data from the Office for National Statistics (ONS) shows that retail sales volumes rose by 0.5% in September, the fourth consecutive monthly increase, confounding economists’ forecasts of a 0.2% monthly drop.

Sales of products at computer and telecommunication retailers grew strongly last month. Online sales climbed for the eighth consecutive month, helped by internet jewellers who reported strong demand for gold as the safe haven commodity enjoyed its biggest rally since the 1970s amid global uncertainty.

The largest sales rise in September was at non-food stores, which includes department stores as well as clothing and household goods, and which rose by 0.9%.

Total sales volumes rose by 1.5% over the year to September. The ONS also revised up August’s monthly increase from 0.5% to 0.6%. However, despite last month’s rise, sales volumes remain 1.6% lower than their pre-pandemic level from February 2020.

The September figures came on the back of a strong summer of sales as shoppers were motivated to buy clothes during the warm months of the year and the Euro 2025 women’s football tournament. Sales volumes rose 0.9% between July and September compared with the previous quarter, between April and June.

However, July’s retail sales were delayed by the ONS by two weeks in the latest sign of problems at the UK’s statistics agency with producing reliable data, which has raised concerns among Treasury officials during preparations for November’s budget.

Despite September’s stronger-than-expected sales volumes, industry experts warned that this trend was unlikely to continue, given the economic backdrop of continuing high inflation, weakening employment and the prospect of tax rises.

Rachel Reeves’s 26 November budget is due in the period when discounting gets under way as Black Friday approaches. The broader economic picture shows consumers are tightening their belts, just as retailers are gearing up for the crucial Christmas trading period, according to Nicholas Found, the head of commercial content at the consultancy Retail Economics.

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“Shoppers are taking a cautious, deliberate approach to spending, as budgets remain under pressure from essential living expenses,” he said.

“The late autumn budget next month couldn’t come at worse time for the sector, landing just as retailers gear up for peak trading over Christmas. Growing concerns around tax and borrowing costs are weighing on consumers’ spending intentions, prompting fiercer competition for limited discretionary spend.”

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Baker McKenzie is pleased to announce that it has advised PT Chandra Asri Pacific Tbk (Chandra Asri Group), a leading energy, chemicals, and infrastructure solutions provider in Southeast Asia, on its entry into a Sale and Purchase Agreement to acquire ExxonMobil’s network of Esso-branded retail fuel stations in Singapore.

As detailed in Chandra Asri’s press release, Chandra Asri Group’s strategic acquisition of the Esso retail fuel network aligns with its long-term growth strategy, which focuses on developing integrated energy infrastructure for the energy and mobility solutions market in Singapore and Southeast Asia.

The Baker McKenzie team advising Chandra Asri Group was led by Singapore M&A principals Shirin Tang and Ting Xiao Hui together with local principal Mark Tay, with support from associates Rachel Chan and Precia Lian, and trainee Ryan Koh.

The transaction drew on the strength of Baker McKenzie’s multidisciplinary Singapore practices, with key team members from the specialist practice groups including:

– Real Estate: Geraldine Ong, Tan En Lai, and Michelle Koh

– Competition and Trade: Stephen Crosswell, Ken Chia, Poh Lip Hang, Vivian Tsang, and See Yongsong

– Regulatory: Ken Chia, Daryl Seetoh, and Maulik Mittal

– Intellectual Property: Andy Leck and Natalie Huang

– Finance & Projects: Ang Kim Hock, Simonette Santos, Hanh SeungPyo, and Qian Yanshan

– Employment: Kelvin Poa, Ng Zhao Yang, and Averill Chow

This transaction underscores Baker McKenzie’s ability to mobilize top-tier lawyers across practices to deliver outstanding results for clients. The Firm has been consistently recognized for its market-leading transactional expertise, with recent accolades including “International Deal Firm of the Year” at the 2025 Asian Legal Business Awards.

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German companies Daimler Truck and Hamburger Hafen und Logistik (HHLA) have signed a memorandum of understanding (MoU) with Japanese Kawasaki Heavy Industries to explore the development of a green liquid hydrogen supply chain via the Port of Hamburg to the European hinterland.

As disclosed, the partnership intends to enable the import of liquid hydrogen from hydrogen-producing countries to Germany. Over the coming months, the companies are expected to assess the logistical requirements for transshipment and onward transport by road and rail.

Andreas Gorbach, Member of the Board of Management, Daimler Truck, and Head of Truck Technology, said: “Europe will continue to rely on green energy imports in the future and hydrogen will play a key role here. The partnership is an important step in this direction, and we will need more initiatives like this to strengthen Europe’s position as a leader in liquid hydrogen. What makes it special is that our Mercedes-Benz GenH2 Truck can not only be powered by liquid green hydrogen – the truck can also transport it via road. And the best thing about it: Hydrogen allows us to increase the speed of decarbonization – and reduce the scope and cost of the already slow expansion of the power grid.”

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A warning has been issued to those planning to set off fireworks after the cancellation of organised displays.

Truro’s annual bonfire and firework display has been cancelled following concerns over traffic congestion, along with another display organised by Falmouth Fire Station.

Cornwall Fire and Rescue Service said the event had been cancelled as it could not be delivered “to the standard of safety and organisation that our community rightly expects”.

It urged those planning to set off fireworks at home to “only buy fireworks with a CE mark [those that comply with the current safety standards]”.

Truro City Council said the decision to cancel the event on 6 November was made after consulting with the safety advisory group.

Council clerk David Rodda said although the news would be “disappointing” for many residents, safety was the authority’s “highest priority”.

The fire service warned “children, including babies and toddlers, suffer over half of all firework-related injuries”.

It advised they should be “closely supervised” around sparklers, bonfires and fireworks, and those planning private events at home should “follow the instructions carefully and let your neighbours know in advance so they can keep pets indoors”.